Global expansion is not something that will happen from today to tomorrow, it is a step-by-step process.
In our meetings with technology companies, we see that there are some confusions when it comes to international business. The expansion requires many plans and actions. Do we need to start with brand revision or the product first? Should we increase the competence of the team or work on business model, incorporation, legal compliance? Below, I wanted to clarify the picture a little more by dividing the international expansion for a company into stages. In this way, we can first identify what stage we are in, and then continue on our way by fulfilling the requirements of that stage.
1- Status-Quo
Going global sounds cool, besides, someone who takes a somewhat rational view of the business realizes that there is still a lot of work to be done and improvements. At this point, sometimes the initial investment costs, sometimes the return time of the investment, operational reservations or the comfort situation prevent the opening steps from taking. We can count the teams or companies at this stage in the category of inertia.
2- Desire & Discovery
We can say that it is the stage in which intellectual preparation is made for the teams that set the goal of expanding abroad and have done more or less work and enjoyed it. Although the vision is to expand abroad or become a global player, it is the stage where the starting point is not clarified, opportunities are sought and possible difficulties and risks are evaluated.
3- Planning
It is the most important step. The stage where the team or company defines its goals, opportunities, risks, and prepares itself. The stage where the team, product, service, documentation, marketing, starting point, investment costs and return are evaluated and the optimum benefit is tried to be defined. Where to start as a location? Should we offer a product or services? Which technologies provide advantages and which disadvantages? How do I stand as a brand? Is my marketing and other content ready? Is the team ready? What should my priorities be? Am I financially adequate? Should I need external support? What are my return on investment and success criteria? questions such as these are answered and the steps to be taken accordingly are prioritized and action is taken. Of course, there will be mistakes and corrections in the process, but journeys that are made without a proper evaluation of the competition, the market and moreover, self-competences and planning can cause serious loss of time and money.
4-Execution
It is the phase of prioritizing and working on the assignments that come before us in the planning phase in a way that seizes the opportunities. You can be sure that the average tech company will have a lot of topics to work on. Sometimes this can take a few weeks, sometimes a few months. Regardless, the opening to be made before it reaches a mature stage may not go beyond an expensive touristic visit. On the other hand, after the list of things to be done is studied and improvements are made step by step, it is the time to go market.
5- Go-to market
At the point where our preparations are complete and our eyes are not left behind, the stage where administrative works such as company establishment, brand registration, official transactions and employment are predominant for our offices where we will carry out the global operation and contact with business partners/customers in our targeted geography. It is a point where the costs start to be written into the account, however, your address is clear and your trust rate increases. Does it have to be an "office" here? Can't we work remotely with business partners?” We come across such a question very often. The answer to this totally depends on what you want to do. While partnership and channel structure are almost indispensable issues, the invisibility of your company for some locations can greatly reduce your business potential. You can take a look at the notes about the channel and its partners for this.
6-Growth
If you have come so far, congratulations, you have now met the basic requirements of serving on a global scale, established your offices and business contacts, started working with your first customers, and largely reached your target.It's relatively easy after that. You can continue to grow by iterating your business model and providing revisions and local services based on local needs.
Global expansion is not something that will happen from today to tomorrow, it is a step-by-step process. My own experience is that for beginners, expanding abroad is a process where business is mostly done by learning, not by knowledge. In the meantime, many local truths can be wrong beyond the borders. This can either be experienced by living or added to your gains through consultation. There is no reason not to be successful by working regularly and smartly, not by meaningless rushes. Welcome to your blog post. Use this space to connect with your readers and potential customers in a way that’s current and interesting. Think of it as an ongoing conversation where you can share updates about business, trends, news, and more.