Whatever area you focus your startup on, one vision all the founders of startups have is to go global. Globalization implies increased market share, higher sales, and a larger global footprint. And how will a tiny team company enter a global market? There are expenditures to remember, the administrative capital to be gained, and plans for publicity to be focused on.
If you share the same concern, here are a few tips on bringing your startup to the global stage.
Go global one country at a time
Not all companies are prepared or even set to go global. First of all, you need to select your first foreign country. Starting a bootstrapped startup on foreign soil has its own shares of setbacks: the painful visa application, zero name recognition, and expensive operational expenses. Operational expenses include office rent and legal fees, which may go higher than what you anticipate, especially if your chosen market has a greater economy than that of your home country. These situations can be remedied by starting small – you can start in co-working spaces rather than physical offices, or use online project management tools to have your workers do their tasks at home. Don’t forget to select the city where you will start with carefully as well. Though we advise going to the capital city where the opportunities are greater, the expenses could be more than you can handle. In this case, you can stay in a nearby location where you are but a stone’s throw away from the city center.
Set up your local office
If you look above, a problem that needs to be addressed to ensure your success is the zero name recognition. Branding is important, however, you need to first have a local presence before you can start your branding. Once you have enough, go ahead and build your local office. Having a physical office offers several advantages, such as having a corporate headquarters, the ability to have face-to-face interactions with clients and future investors, and trust. Foreigners will find it hard to trust a company that is located nowhere. Investors will also not appreciate having a pitch meeting in a coffee shop.
Establish your company culture
After you evolve from a small team sitting in the same office and time zone to a global micro-multinational with a workforce in several countries, it’s important that everybody in your organization share the same values and brand positioning. Launch a collaboration platform that unites the whole company on one dashboard and cut down on email. Being small but global means that you have to make sure everybody has instant access to the information he or she needs. There is something to keep in mind though: face time. To build a business in the cloud alone is an illusion. You need to spend about 30% of your time with your local teams. There is a great difference between seeing the boss in person than over the internet. You also need to meet prospects, clients, and thought leaders as much as you can. It’s important to take the time to share your vision with everyone in the company– it’s more than a business; it’s a way of living. http://bit.ly/AwesomeFreelancer