Debunking Myths About Going Global with Your Business

Posted by Dynamic Language on Nov 19, 2014 Nov 19, 2014

debunking-myths-going-globalIt is no secret that taking your business global involves several challenges. It takes time and some consistent effort to successfully establish your operation overseas. However, it is important you do not let some of the misconceptions about globalization prevent you from expanding. These common myths about globalization can all be debunked fairly easily.

I don’t have the capital to invest in globalization

While it is true there will be some cost to exploring overseas markets, it may not be as expensive as you think. There are plenty of organizations that specialize in connecting businesses to likely partners on an international level. Some of these trade organizations will help pay for travel costs or will get you into meetings with critical partners in the country you wish to operate in, which will reduce your marketing and expansion costs.

Also remember that with globalization, you may be dealing with a different currency. It is very possible that the country you are going to expand into has a weaker currency than yours, which means you may experience a windfall in the event that the currency gets stronger. This can help you deal with some of the costs of globalization.

I don’t understand the country’s culture

The first thing to remember about globalization is that you don’t have to enter into a completely foreign market. There are plenty of countries where your language may already be spoken; it may even be the primary language. With some exploration, you may find that the differences aren’t as pronounced as you think they are.

Even when there are cultural differences, there are a lot of resources available to help you overcome them. From books to culture guides to assimilation and networking groups, it is easier today to understand other cultures than it has ever been in the past.

I’m not connected enough to the international community to go global

Think about all of the different avenues you have to connect with other countries today. Besides your options on the Internet, email and video conferencing, there are many different media outlets that connect the world internationally, such as magazines, television and other traditional media. There are plenty of ways to keep up with what is happening in international areas, even if you aren’t physically there.

My business literature and documentation are complex and probably will not
translate well internationally

There is an easy fix for this: acquiring the assistance of a skilled and experienced localization company that understands how to ensure that these types of documents are adapted to a new culture. The best localization providers will do much more than just translate the pertinent business information; they will completely adapt it to the country you are globalizing into, so that everyone can understand it.

While globalization may not be easy, some of the myths surrounding globalization are simply untrue. Taking your business global should be something you think seriously about. The benefits of taking your business global are numerous and long-lasting, no matter where you decide to go or what type of work your company does.

 

 

Topics: Globalization, International Markets, Global Market