Competitive Edge
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Competitive Edge
Creating your Unique Value Proposition to gain your Competitive Edge.
Curated by Marc Kneepkens
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Your startup is loved locally, but how do you expand it globally?

Your startup is loved locally, but how do you expand it globally? | Competitive Edge | Scoop.it
Introducing a new idea into the market and turning a profit is a feat in itself. But what happens when your startup has reached its limits on a local scale, tempting you to see how far your company can really go?

As a company that started locally in Canada — and currently making a push to expand into the US market and other countries — we have taken on a number of strategies that will help many entrepreneurs work around the challenges that continue to face small business expansion overseas.

If you approach the process of expansion as an almost entirely new venture, that mindset may allow you (as the hopeful entrepreneur) to take the right steps to build a successful international company.

From the beginning, a startup leaving its comfort zone and established consumer base needs to realize that a new strategy for a particular location will not necessarily work everywhere. Regardless of the scale, it is important to note that each region, city, or market will have its unique need for the same service.

Also, unless the company is a well-known household name, consumers in foreign markets tend to trust and be more aware of local brands. This awareness and trust spills over into the workforce of a company, whether they are local or outsourced — a factor that can turn customers on or off in many markets.

For these reasons, I believe that there are three key points that an established startup needs to take into account for preparing itself in an expansion strategy. Read more: click image or title.




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Marc Kneepkens's insight:

Expanding globally is like starting your business all over. It's not the same as what you did before. You did gain some experience locally, but doing business with different cultures comes with challenges.

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Six tips for developing successful strategic partnerships

Six tips for developing successful strategic partnerships | Competitive Edge | Scoop.it

A strategic partner canprovide you with capital, or let you leverage their brand to give you more exposure. They could help you win business by offering services that you can’t, while you build out those competencies on your own team. When it works well, a strategic partnership can be just what you need to speed up the growth of your business.

To read the full article, click on the image or title.



Get your Free Business Plan Template here: http://bit.ly/1aKy7km

Marc Kneepkens's insight:

You've heard about strategic partnerships, but it's not as simple as just saying you want to have some good partners. Here are some great fundamental guidelines.

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