Text Book Success
Thinking of going global? Here’s some pointers.
1. Don’t waste your time considering growth overseas unless you have designed and validated your Value Proposition, Business Model and Product Integrity in your home market. It’s a hell of a lot easier to fix problems and maintain customer expectations if they’re on your doorstep, than 1000 miles away.
Carry out your Value Proposition and Validate with customers you can meet with, it’s easier to discover the truths if you can see the whites of their eyes, so to speak.
I always take time to understand the Value Proposition against each customer and market segment. Their needs and buying considerations will vary country by country and sector specific..
2. I always carry out a ‘Porters Five Forces’ analysis to sense check the modelling and competitiveness of your business.
3. Most importantly before you launch head first into your first overseas pilot or test, carry out a PESTEL or PEST analysis to create a wide angle report on everything from Political to Legal barriers which have a habit of halting ambitions in their tracks.