Global expansion can stimulate revenue gains and other advantages for businesses willing to take that step. And though there’s not a one-size-fits-all approach to growing internationally, one thing is true for most companies, regardless of size: Continually reviewing, devising and applying a global expansion strategy is a key element of success.
How should you begin your global expansion strategy?
The first step is to identify where your organization lies along the path of global expansion. As part of our Guide to Global Growth, we’ve created five categories to help you determine where you are along the global expansion growth curve. Once you’ve identified your business in one of the categories, we can help give you insight into what considerations should be top of your list when it comes to formulating a strategy.
Which category below most accurately describes your company?
Evaluator: You are considering expanding globally for the first time, but you have doubts over whether the timing is right or even whether expansion is the correct play altogether.
Starter: You have decided that you want to take your organization international. You need to move fast, but you are unsure of where to start.
Expander: You are already in one or two countries, but you are looking to expand further. Getting into the handful of countries you are in was possibly an arduous process that you’d like to simplify. You may also be searching for assistance in your current countries now that you have a greater appreciation for the workload required to manage an international workforce.
Multi-Country Mover: You already have a presence in three to 10 countries and are on the cusp of becoming a truly global company. Your growth has been accumulating real momentum, and now you are seeking a partner who can support your fast-paced growth and manage your international employees as you expand.
Global Player: You have employees all over the world. You are exploring acquiring companies and assets in new countries, while evaluating selling parts of your current business as your overall strategy and focus shifts with the markets.
With a better idea of which category your business belongs in as it evaluates global expansion, you can better focus your growth strategy. And with the help of our Guide to Global Growth, you’ll get a detailed look on what factors you should be considering right now, what risks to avoid, and what benchmarks to assess for success.
We’ve seen first-hand the significant growth that expanding globally can lead to, and we want to empower organizations of all sizes with knowledge and guidance to reap the benefits of an informed global expansion strategy. Get our Guide to Global Growth to get started now.