Tuesday, October 7, 2008

Why companies do not go abroad

The world is more accessible today than 20 years ago and the US economy is in an unhealthy state. Given the above situation, it seems highly desirable to decrease vulnerability by developing healthy foreign markets. What stops companies from taking this step of growth? I suggest some of the following may be high on the list:
1) Lack of vision - it never crossed their mind.
2) Fear of the unknown.
3) Too many choices of country and city end up leading to inaction due to lack of focus.
4) Lack of knowledge as to how.
5) Previous bad experience(s).
6) Not sure how to match the company’s products or services with the foreign culture.
7) Afraid of the potential cost.

While other reasons may exist to be resolved, these can be answered fairly easily. What the company needs is a person or a service that makes the unknown knowable and understandable. The company also needs a person or a service who can create opportunities for minimal output. Lastly, the company needs a person or service who is astute in matching local cultures with the company’s products and services, thus foreseeing opportunities for great market growth. Imagine what could happen if your company had the capacity to bridge the language and culture gap, develop markets for little cost, learn quickly from previous mistakes and repeat the process. This can be your reality.

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