Expanding globally can be a big boost for business, but it's not without its challenges.
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With the ever-growing number of online programs and communications tools available today, it's no surprise that businesses of all sizes are choosing to expand their market and sell to international consumers. One such company is national wireless accessories retailer Cellairis, which recently opened locations in Jamaica, Mexico, Chile, the United Kingdom and the United Arab Emirates.
"Cellairis has rapidly expanded domestically since 2000," said Taki Skouras, the company's CEO and co-founder. "But because we stand behind our brand, products and proven concept, we wanted to be able to bring that growth to locations globally. We have devoted countless hours into intensive market research to identify international markets where we think our system will flourish."
International expansion isn't right for every business, but if it's something you're thinking about for yours, there are a few important factors to consider. Based on his experience with Cellairis, Skouras recommended taking the following steps before going global with your business. [10 Tips to Build a Global Business]
Do your research. Before expanding internationally, spend time researching the markets, current and future opportunities, and threats. Just because a concept is popular in the United States does not mean it will be successful in another region of the world.
Have a dedicated team.An organization should have a strong team solely focused on international growth that is ready to face challenges and fully support the expansion. Cellairis has built a strong and diverse international team with experience and knowledge of global markets to help support its franchisees and customers worldwide.
- Be ready to translate. Language barriers can present significant challenges for global businesses, so staffing your teams with bilingual employees is a must. If you don't have the budget for full-time translators, outsource tasks like overseas customer service and translation of promotional materials to freelancers.
Originally published on Business News Daily.