Just One Thing: What to look out for when taking your small business global
International expansion is the endgame for most small businesses – but will the move make or break your company?
Even if business is booming at home, going global isn't simply a matter of setting up a new location: Small business owners need to approach it like starting from scratch.
That means market research, setting up bespoke digital experiences, maybe even raising new rounds of capital. Not to worry, though, new businesses go abroad every day. You just need to make sure you're ready.
Check out the videos below to learn how other entrepreneurs approach going global, and get inspired for your own ventures.
Differentiating your business
You're competing on a global level, so you need to be clear about the benefits you bring to the market.
Evaluating which trends to follow
Don't get swept up in hype. Use data to vet the legitimacy of trends before investing in them.
Leveraging the internet
"Going global" is no longer about setting up shop in different countries. You can cross borders with a smart online strategy.
Raising new rounds of capital
When your company reaches its goals, taking on more capital will help you reach new markets.
Building a base for growth
If you've hired the right people and perfected your processes, growing globally can be easy.
Connecting with customers
Stay in touch with global markets by listening to the needs of customers in those markets.
Deciding when to go global
Before making the leap, carefully evaluate the opportunity abroad and whether your business is ready for expansion.
Building a global-ready website
Going online means going global for businesses, so make sure your terms and conditions can apply to a global audience.
Taking your brand abroad
It's crucial to understand the culture of a new market before taking a risk on expansion.
Choosing the right influencers
Celebrities aren't always the answer. Look for local influencers who will be relevant to your audience.
Brought to you by Capital One® Spark Business®. Learn More about what the Spark® Cash Card can do for your business here.
