Is Going Global Right For You?
by
Gisele Navarro Méndez 
International expansion is not always the best way for your company to grow. There are some companies for which the need to go global is more pressing than for others. By entering the international arena, you can protect against the risk of decline in domestic markets and, most importantly, significantly improve your overall growth potential. You can also expose yourself to some costly mistakes, and as always in business, you should look carefully before you leap! Why entrepreneurs need to start thinking globalWhile most entrepreneurs start their businesses on a national, or even local, level, the opportunities that the global market offers are many. More and more entrepreneurs are thinking global - as participants at the recent Global Entrepreneurship Week UK found out. Here we look at why you should be thinking about going global and outline some simple tips to help you achieve your wider ambitions.Why go global?The overriding reason to go global is to improve your potential for expansion and growth. The recent economic downturn that has especially affected the UK, Europe and US has led many business owners to seek growth in markets that have been affected to a lesser extent in order to protect their sales from the impact of the recession. One thing that a global business can do is reduce its dependence on the markets it has already developed. Another benefit of going global is the ability to extend the sales life of existing products and services by finding new markets in which to sell them. This can often prove much more cost-effective than continually developing new products and services for existing markets. Many businesses are plagued by destabilising fluctuations in the markets because of seasonal changes in demand cycles. A carefully executed global strategy can seek out markets with different or even counter-cyclical fluctuations. Understanding new markets helps you to compete with foreign companies - and even take the battle to them on their own ground. Not only will this invaluable experience help with your current business, but it may also open doors to new business opportunities in the future. Tips for going globalThere are some businesses that are global by their very nature. Take, for example, a school of English London is home to. In order to ensure it has anyone to teach, the school will have to market itself to prospective students in other countries who may be interested in an English course London offers. Other businesses may not be as inherently international, but they may still be able to benefit from tapping into a larger market. A London souvenir shop, for example, has a seemingly exclusive local market; however, with a suitable website (and exporting infrastructure) enabled to accept orders from abroad, it is likely to receive orders from Anglophiles the world over.
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Here are some basic steps that will help you reach a global market while avoiding pitfalls, whatever your line of business:
