Have you noticed lately that some of your small business customers are enjoying a greater success than theyâ€™d originally hoped for? If what theyâ€™re selling is becoming increasingly popular and theyâ€™re looking at ways to exploit that, it could be time to start thinking about entering the international marketplace. And itâ€™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 theyâ€™ve got extra cash to reinvest in business growth, going global is a great option to explore.
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:
With social media being what it is, itâ€™s easier than ever to take a business global, even if itâ€™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 thatâ€™s considering an actual foreign location, visiting that country and getting to grips with its cultural differences is essential. So itâ€™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. Itâ€™s also one of the most effective means of turning a small or medium sized business into a big one. If youâ€™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 whoâ€™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 email@example.com to find out how we can help you.
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.