How to Scale up your Local business into a Global business !
Scalability is about capacity and capability. Scaling a business means setting the stage to enable and support growth in your company. It means having the ability to grow without being hampered. The manual processes that were fine when you were an Entrepreneur but now won’t let you move fast enough. You’ll either be putting out fires or desperately trying to keep your head above water.
**Tips to Scale up your Small Business into Global Business:-
Small businesses can enter the global market by selling directly to customers in export territories, marketing products through a local distributor, participating in a joint venture with a local business partner, or selling through a Website. Each strategy provides your business with a different level of cost, risk and control.
Research and narrow down the markets opportunity –
At first You need to narrow down the markets for the first phase of global growth by determining which markets are most viable for what you offer.
Develop a business map –
Most entrepreneurs have a business plan, because Business maps are an effective, comprehensive way for scaling a business and meeting its goals. Business maps encourage and challenge you to look at where you came from, define your purpose for starting this business and look ahead.
Use an online marketplace –
One fairly easy way to reach foreign consumers is through online marketplaces like Alibaba, Various types of E-Commerce platforms. Alibaba provides small businesses with access to international markets through Internet technology and infrastructure.
Evaluate and Plan –
Take a hard look inside your business to see if you are ready for growth. You can’t know what to do differently unless you take stock of where your business stands today.
Invest in Technology –
Technology makes it easier and less expensive to scale a business. You can gain huge economies of scale and more throughput, with less labor, if you invest wisely in technology. Now’s a good time to evaluate new products on the market that save time and money, yet accommodate much higher volumes in every part of your business. Look at CRM, marketing automation, sales management, inventory, manufacturing, Accounting, HR, shipping, and other technology Software systems.
Build your own Brand through Website –
Scaling a business requires learning who you are as a company and what you offer your customers. Your brand will also set the tone for your company’s culture as you scale your business. It will set the standard for how you make your hires and will help you establish the kind of client experience you want.
So, Build Your Brand through proper Website, It will impact marketing, sales and design efforts, and it will influence the kind of company you ultimately become.
Selling your products through a website is a simple, low-cost way of entering the global market. Customers and prospects around the world can visit your website at any time to select products and place orders. To improve your chances of success in key export markets.
Study the Language –
Language barriers can slow down your march across the globe. Use location-detection tools to convert your content into another language. Consider hiring a freelance translator to generate multiple versions of your website in different languages. A great option is starting with English-speaking countries until you are ready to take on other languages.
Focus on international marketing strategies –
During your research you most likely gathered information on what type of marketing mechanisms and platforms are most widely used, including social media, search marketing, and online advertising. Use this information and continue gathering other data on blogs, email marketing, and other channels where you can get your marketing messages out in the most effective way possible.