5 Ways Small Businesses Can Pursue Global Markets - Insane Visions

5 Ways Small Businesses Can Pursue Global Markets

The advent of digital technology has not only made it easier for small enterprises to go head to head with larger and older businesses. It has also made it possible for them to reach the global market.

It’s no longer uncommon to find, say, a stay-at-home “momtrepreneur” in Camp Verde, Arizona shipping off orders for her corn kernel heating pads to distant locations such as Paju, South Korea and Manila, Philippines. That is all thanks to highly efficient digital technology.

So, if you’re a small business owner eyeing the global market in order to better secure the future of your operations, this is a highly achievable objective.

The road to global success most certainly comes with numerous challenges. But with strategic planning, the hurdles of launching global operation can be managed effectively. Here are some tried and true tactics for achieving small enterprise success in the global business arena.

1. Hire a business consultant.

A business setup consultant can educate you on the different requirements you need to meet in order to create highly efficient and productive operations.

Likewise, a consultant can connect you to the other professionals that can streamline the structure of your business.

If you need help determining the corporate tax for your business (especially with the occurrence of new taxation policies), or you need assistance in procuring a special trade license because of your physical location and intended international transactions, the consultant can recommend industry specialists with appropriate services.

2. Create a website.

One overused adage in the business realm these days is, “You’re not doing business if you’re not doing business online.” There’s no disputing the reality that the quickest way to target the international market is by having an official, authoritative presence in the digital realm.

The Internet will make it easy for you to tap into new markets overseas. As such, you must create a website that will serve as the main platform for your marketing efforts and other transactions.

But don’t just create a website for the sake of creating a website. Hire a web development team for the job so that your official online presence can communicate your value statement effectively in words and pictures on the web.

3. Create social media accounts.

Facebook, Twitter, Instagram and YouTube are social media platforms that will help you connect to customers from different corners of the globe. Each of these platforms will allow you to highlight your business’s value in creative ways to generate interest.

For example, with Instagram, you can share photos of your products easily and simultaneously provide information regarding your location and how to contact your business.

Meanwhile, YouTube is the perfect platform to show your products’ true value. You can create demo videos or tutorials to establish how your products can provide solutions to common problems. Plus, with YouTube, you have the opportunity to interact with your audience through the comment section.

4. Use your bank’s services.

Set an appointment with your banking representative to find out what services are offered to assist enterprises with business operations.

Top commercial banks have a service menu that is designed specifically to assist businesses with expansion initiatives, and to manage the risks of global transaction. Small businesses can choose from these offerings to support the global activities they wish to carry out.

5. Invest in strategic marketing.

Marketing is one of the most effective ways of broadening a business’s reach. However, you need to identify and understand which strategies are most suitable to the nature of your enterprise. You can’t use all strategies available because you’ll just end up spending more time and money than necessary with watered-down results.

Your marketing campaign should be focused and specific to your business and its goals. This is the best way to achieve the impact you want. Invest in the services of marketing specialists who can study your needs for you, and provide an outsider’s perspectives.

With their help, you can focus on what you actually do tremendously well for your business, while also making sure that your marketing is done right.

The global market is highly competitive, but if your small business is armed with strong tactics, breaking into it and thriving can prove to be easier than expected.

AUTHOR BIO

Serial Entrepreneur and Business Strategist Henri Hazougi is the Managing Director/Partner of Business Setup Consultants DMCC. The company offers a broad range of expertise in corporate services assisting companies and entrepreneurs in setting up and expanding their business in the UAE.

Beatrice Santos