Going Global: A Step by Step Guide to Going Global
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In this presentation Roxanne Hawkins, Co-Founder of International Directions reviews important steps to take before or as you begin your global journey.
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Going Global: A Step by Step Guide to Going Global
- 1. Going Global A Step by Step Guide for entering International Markets Roxanne Hawkins Co-Founder International Directions
- 2. The Global Market Place
- 3. Why Go Global? If you want your business to remain competitive you have to expand internationally. If you don’t, your competitors will
- 5. Opportunity
- 6. Opportunity Faster growth Access to cheaper inputs (raw materials and labor) New market opportunities & larger customer base Diversification—less vulnerability
- 7. Risk Increased costs Foreign regulations and standards Cash flow woes due to delayed methods of payment Operational complexity Failure to understand local business norms and customs
- 8. Legal Employment law Currency exchange issues Dispute resolution IP protection Marketing Language and tactics Product compliance
- 9. Regulatory Use an Expert Use an Expert Use an Expert
- 10. Finance / Taxes Budget, forecast and cash flow management Repatriation of Profits Import taxes + sales taxes: 2 + 2 does not always equal 4 Local taxes on profit Local Payments, alternatives and issues Currency exchange
- 11. Lost in Translation Cultural Themes Communication Group Dynamics Product Design Glocalization
- 12. Evaluation More than the 4Ps Market Business Model Business Plan
- 13. More than the 4Ps Product Price Promotion Place
- 14. The Market Who What Where Why How
- 15. Business Model
- 16. Business Model Import finished goods/distributor model Subsidiary Acquisition Manufacturing (partnership)
- 17. Business Plan Country Information & Opportunity Objectives Corporate Finance Marketing Market Overview Social, Political, Economic Climate SWOT Product Market Overview Forecast & Budget Key Strategies Exit Strategy
- 18. Decision Go / No Go
- 19. Go / No Go
- 20. Questions
Notas del editor
- I’d like to thank Les Neuman and Sarah Burd for inviting me to be with all of you today. The ICanGlobal organization A Membership with iCAN-Global : Ican Global is an amazing organization that helps fill the void of global business support arena. I’m so impressed with their programs Makes your company more attractive to investors
- What is the global market place? International business (doing business in one of more not local geographies. Global Business – covering the globe. In today’s presentation, I will review important steps to take before or as you begin your global journey. PwC forecasts India’s real annual GDP growth until 2050 at 8.9 percent, Vietnam’s at 8.8 percent, and China’s at 5.9 percent. The list of fast-growing emerging markets goes on and on. The U.S. forecast is a meager 2.4 percent, comparable with most Western economies.
- Why are more and more companies taking a leap to “Going Global?” International business is no longer an option, but a necessity if organizations want to remain competitive.
- President of Brazil – Dilma Rousseff Current President of Russia – Vladmir Putin Prime Minister of India - Manmohan Singh is the 13th and current Premier of China – Li Kequiang
- when the company is dealing with a number of regions of the world. Expanding your global footprint
- Limitations for marketing, employment law and business set up. Possible governmental restrictions on payments, and applicable withholding taxes (including possible structures to reduce the level of withholding). The Naked Truth Campaign. And Marketing claims
- EU approval doesn’t always equal local approval. There are lots of places where you might make a wrong turn and be able to do a quick turn or a simple change to get things back on track. Regulatory is rarely into this category. UK Manager story – Product compliance in Europe, not Spain, not Germany, not UK. Cosmetic product.
- American CEO Chip Starnes, Specialty Medical Supplies Cultural Themes : determines how a culture does business. Communication: Translation is not communication, there are substantial differences in context. Group Dynamics: involves the understanding of how individuals from certain cultures interact in groups. Glocalization: Global branding, messaging, corporate values, and marketing all have to be localized — thus the term “ glocalization. ” Interview with Steve Cook, Intuit – and American product translated not localized or developed for Global Markets.
- US hygienist, UK Dental Nurse, France Dental assistants, etc. Medical device company sold to dentists. In the US, we have large operatory environments. France, very small. Product use not understood in local market.
- Medical device example
- Need a go no