Factors | goWholesale

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Friday, May 16th, 2008

Going global is a huge step. It’s an important one in every business’s growth. Considering the fact that times are what they are, it could mean the survival of your business. So before you step off into the global market, consider the following factors Entrepreneur.com has put together as a sort of "Pre-Going-Global-Checklist":

Get company-wide commitment.
Define your business plan for accessing global markets.
Determine how much you can afford to invest in your international expansion efforts.
Plan at least a two-year lead-time for world market penetration.
Build a website and implement your international plan sensibly.
Pick a product or service to take overseas.
Conduct market research to identify your prime target markets.
Search out the data you need to predict how your product will sell in a specific geographic location.
Prepare your product for export.
Find cross-border customers.
Establish a direct or indirect method of export.
Hire a good lawyer, a savvy banker, a knowledgeable accountant and a seasoned transport specialist,
Prepare pricing and determine your landed costs.
Set up terms, conditions and other financing options.
Brush up on your documentation and export licensing procedures.
Implement an extraordinary after-sales service plan.
Make personal contact with your new targets, armed with culture-specific information and courtesies, professionalism and consistency.
Investigate international business travel tips.
Explore cross-border alliances and partnerships.
Enjoy the journey.

For explanations of these factors click here .