Thursday, 19 April 2018

Information and commentary for the small business banking industry

Help your small business customers to go global

21 Jul

Have you noticed lately that some of your small business customers are enjoying a greater success than they’d originally hoped for? If what they’re selling is becoming increasingly popular and they’re looking at ways to exploit that, it could be time to start thinking about entering the international marketplace. And it’s a good idea if they sit down with you for a chat about some of the basics before they take the plunge.

If their brand is established, their business systems are humming and they’ve got extra cash to reinvest in business growth, going global is a great option to explore.

Does the business have what it takes?

Before deciding to jump into international trading, encourage your customers to weigh up some of the pros and cos, and decide whether their business is ripe for change:

  • Understand the commitment – it’s not something to take lightly. Does the business have the required capacity to operate in the international marketplace and if not, what can they do to increase that capacity?
  • Can they take advantage of seasonal cycles? – if the business is selling summer surfwear, they’re going to do their best business during June, July and August – if they’re on the west coast. But what’s to stop them exporting to other countries who are enjoying summer during December and January?
  • Can they translate their website into another language? – this is especially important if they’re selling online. If they can get their website translated into the languages of their target countries, they’ll gain more customers.

With social media being what it is, it’s easier than ever to take a business global, even if it’s just creating an online store. With Facebook, Instagram, Twitter and YouTube, a business can boost its brand awareness on an international level and attract customers globally.

If the business is one that’s considering an actual foreign location, visiting that country and getting to grips with its cultural differences is essential. So it’s important to determine if the business owner has the time and the means to travel.

At the end of the day, entering the global marketplace is one of the fastest ways to business growth and higher profits. It’s also one of the most effective means of turning a small or medium sized business into a big one. If you’ve got small business customers who you believe have great potential for taking their offering onto the global stage, encourage them to talk to you and others who’ve successfully taken the plunge.

Here at TSBC, we can offer you great content around exporting, foreign exchange and trading in the international marketplace. Contact us on sales@tsbc.com to find out how we can help you.


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Glen Senior
Glen is the founder and CEO of The Small Business Company, a New Zealand based agency that specialises in helping banks communicate with small businesses through content marketing. He has written a number of books on small business principles and is a sought after consultant and conference presenter.

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