The Commandments of International Business
Here at ManSys, we are leading providers of global trade management software due to our inside knowledge of the best strategies for international business optimisation. We provide companies with software, but we also provide our clients with support and advice. Managing a global business is about company values, strategy and relationship building. In this blog, we’ll talk you through the commandments of ensuring your international business practice is tip top.
Get to Grips with Technology
The future is bright. The future is online. The future is technology. Any CEO or Managing Director knows that to move internationally, and to retain global success, your business needs to be technologically adept. The world is growing increasingly interconnected through the Web and various software. Technology is a language shared across the world that everybody can speak. It has continued to help businesses big and small maintain connections across the world and has created endless platforms to buy, sell and trade. Create and strengthen relationships between your cross-border customers, whether B2B or B2C with a brilliant online strategy.
Find the Best Management Software
This may sound obvious coming from us. But we cannot stress enough the importance of finding a system that assists in your global business management. We offer an international trading software that can be used by staff at all levels throughout your business. It helps to minimise human errors that can often lead to big problems. Our software does this by being efficient and easy to use. It frees up space amongst your staff and offers configurable control over all of your operations. We also offer an export documentation software for those needing a solution for their shipping and exporting. Our ManSys/Exporter provides you with a simple, efficient process that meets your requirements.
Understand Local Laws, Customs and Values
Other countries will have different laws and regulations and it is important to always keep your finger on the legal pulse of whichever country you have, or will, expand into. Having a strong local lawyer, or a local legal team could truly make the difference. Cultural differences in business are important to recognise and adjust to. Optimise your practice to suit these local customs and values to ensure long term success and to build trust between your customers. Making the effort truly counts.
Do Your International Market Research
If you’re expanding internationally, it is imperative to do your research. There are a multitude of ways to do adequate market research, whether qualitative or quantitative, on the streets or online. Market research should be done to determine:
Going international shouldn’t be a complete leap of faith. It is important to do market research to determine the demand is there for your product or service. Research is invaluable for determining a gap in this country’s market that can be filled by what you have to offer. You are more likely to minimise risk by spending time getting to know your customers before you meet them.
It is important to find out exactly who your target audience is and what separates them from other groups of people. If your market research shows that 25-55 year old men are likely to make up the bulk of your consumers, this knowledge will affect everything from your branding to your social media strategy. Find your new demographic and stay with them.
Extra Business Opportunities
Market research is brilliant for capitalising on business opportunities missed by your new local competition, but also on opportunities you may not have known you had.
Be A Good Business Example
We have been paperless for six years here at ManSys as we strive to reduce our environmental impact. We have long catered our business practice to ensure a lessening of our carbon footprint. One of our top tips in international business is to have company ethics that have positive ramifications for the planet. Get organised electronically with our ManSys software and begin your journey into going paperless. You can have a positive global environmental impact in other ways too: including ensuring efficient company recycling or lowering your company’s utility costs. These eco-friendly methods are well understood across the globe to be brilliant things to do and could help with building brand loyalty across the seas.
We know going global is a complicated process, but with these tips, a strong business acumen and just a little bit of good luck, you could be an industry leader in a new country in no time.