Important Tips on Doing Business Abroad [GUIDE]

Do you think your company is ready to do business abroad? Are you ready to break into a foreign market that your product or service will thrive in? That is great! But now what? There are important steps you must take to get your company ready to make it big time in a different country. Here are a few tips for successfully doing business abroad.

RESEARCH, RESEARCH, RESEARCH!

Every good business person knows that before you even think about entering a new market, you have to know whom you are selling to. What are the demographics of your new target consumer? This includes age, income level, gender, education level, employment status, and other factors depending on your product or service. What problems do they need solving? Is your product the solution?

When doing business abroad, market research is essential. Besides conducting your own initial research, the Office of the United States Trade Representative provides many tools to research foreign markets. Services like export assistance, economic profiles of different countries, a list of U.S. Government Trade Agencies, and helpful information on trade data, laws, and important links. Take advantage of these tools to gain a complete understanding of the country and culture your company wants to enter.

International Business Trade Shows & Expos

You did your research, you know your target consumer inside and out, now how do you break into the desired market? When doing business abroad, exhibiting your product or service at trade shows and expos to gauge interest levels is essential to entering a new market. This is an opportunity to showcase your company in front of influential professionals and potential investors in your industry.

Use a Professional Business Translation Service

The company message and presentation is the most important aspect of breaking into a new market. You only get ONE chance to make a good first impression. Brochures, product descriptions, flyers, and other marketing materials needs professional translation by an experienced translation service. DO NOT rely on bilingual coworkers or free online translation tools. One translation mistake can mean big loss from which you may not recover. Proper translation of the native language also means considering cultural nuances when doing business abroad. A professional business translation service will also help you determine what actually needs to be translated at this stage and what can wait, to keep your initial cost at a minimum. Check out our article on 5 Hacks for Businesses to learn more about the importance of accurate, quality translation for your business.