Before starting an internationalization process some basic questions must be raised. They will indicate whether our organization is really ready for export or needs a reshaping for an international market expansion.
3 steps in your international strategy
Key 1. What is your starting point? Are you really ready for export?
First step before entering new markets is reshaping our organization. It will take an internal analysis to state areas to work on in order to face the new situation in best conditions possible. Some questions to be raised are the following: is my product/service exportable? Do I have an image fit for the target market? Do I have language trained staff to take care of my potential customes? What new operations should I introduce in my value chain for export? The answers to these questions will allow drawing a picture of the current situation of the company before starting the internationalization process. They will also may determine the election of the new markets.
Key 2. What is the legal, political, economic, social, technological, and ecologic context of the export target countries?
There is a number of market constraints that may lead to the success or failure of our international strategy. That is why it is important to start with a PESTEL analysis to obtain an in-depth knowledge of the context in which our product or service is to compete and then be ready to adapt to demand of a still unkown market for the company.
Key 3. Wha are my allies in this new strategy? Are there any aids to boost my expansion to international markets?
It is important to be aware you are not alone in this new road. Commercial relationships with third countries is a matter in which a number of public and private organizations can give advise and even fund a share of the investment you will have to do.