When starting a business, many entrepreneurs have visions of going global. If you are looking to expand to key markets around the globe, it is never too soon to start planning for expanding your startup. In fact, even before you launch you could be seeking out key expansion tips for startups because there is nothing in the books that says you need to start in one market before venturing into others. Looking to go global with your startup? You might want to consider the following advice.
Research Is Paramount
One of the biggest mistakes that ambitious startups make is to decide on a market before doing the research. There are some markets around the world that are literally exploding but that doesn’t mean that your company would do well there. Just because an economy is booming doesn’t mean there is a need or desire for your products or services. Before deciding on where you would like to expand, get the facts. You might be surprised at what you learn.
Marketing in Foreign Countries – Transcreation vs Translation
No matter where you intend to spend your marketing budget, one thing you should be aware of is the very real need for transcreation services. There is a very real difference between translation and transcreation and this is especially significant when it comes to promotional content. Translation is literal, almost a word for word what you are saying. Transcreation, on the other hand, is the art of interjecting local cultural understandings of what is being said. In marketing this is paramount because what sells in one country might be a bust in another. If you want to expand into any market, a transcreation service would be much more beneficial than a translation service in terms of marketing your brand.
Why Stop Here?
Although you may only have the resources to startup a business in a few key locations, keep future expansion always in mind. Once you have successfully launched in one or more markets you can continue branching outwards. Would any of the big global corporations have grown to those proportions if they didn’t always have an eye on new markets? Few startups begin with a global vision but if you are one of the few, there is no reason to stop after a few key successes. Continue growing outwards over time. In other words, expansion doesn’t end with one success. As you conquer one market, move on to the next. If you think small, you’ll stay small. Think big and the sky is the limit.
Few startups actually begin with a global vision. Those that do are oftentimes the most successful startups that continue to grow over time. There is really no end to how far your reach can be if you take the time to do the research, choose markets that work with your company and then hire a team to market your brand in ways the locals can understand. The best advice is to seek advice in new markets and once you have the idea of just what is involved, keep on expanding. There’s no reason to stop here.
SimonSimon writes about tips, step by step guides and his experience in the field of online marketing. For more information click here.
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