Many businesses are profiting from the vast opportunities that international business affords due to the increased convenience, ease and access to which the online era has opened the floodgates. Have you considered taking your business international? To better understand what issues your business needs to consider, go ahead and take the 6-Question w2wlink Self-Quiz below.

Instructions: Answer each question True or False by circling T or F.

1. T   F   My product or service is currently used by people in most cultures around the world.
2. T   F   I don't need to translate my markeitng and sales material into another language.
3. T   F   We have determined wheterh the currency will be an issue in our pricing.
4. T   F   My business has conducted market research on international competitors and found opportunity.
5. T   F   My business has researched the needs of prospective customers and confirmed demand for what we offer.
6. T   F   We have investigated relevant regulatory issues of the countries we are considering entering.

Answers:

Add up how many true and false answers you provided.

Totals: T____ and F _____

Scoring:

Give yourself a point for each true answer. Read below for an analysis of your score.

Analysis:

1-2 You may have entertained the prospect of going international, yet before taking any action, researching competition, current prospective customer needs, buying patterns and language considerations would be advised. Observe trends in international business in your industry and related industries will help your business plan and execute more smoothly. There are many resources set up by various governments and trade organizations to encourage and promote international business activity. For more information see  The Golden Opportunity To Go International.

3-4 Your business is preparing to be ready to do business internationally. Competitive advantages that are cost effective go a long way in marketing to other cultures. Small modifications in language that show that your company cares about the customer where they are make a difference. Mary Kay Cosmetics partners with its sales force and allows them to use their names on their co-branded websites, which gives instant cultural appeal to international markets as approahed with the more native sounding names. The cost is minimal yet the statement competitive. There may be opportunities to increase appeal of your product or service that are cost effective. There may be areas where increased costs may arise and mitigated as planned and adjusted for in advance, such as taxes and tarrifs. For more information see The Golden Opportunity To Go International.

5-6 Your company has done much of its prepearation to expand into international markets. Since each of the expansion opportunities vary widely from one region to the next, by industry and also product or service type, confirming specifics is your final step. Specifics to include in your later phase of preparation include making a step by step, actually executable blue print of how your business will reach its customer. Include time change considerations, slight yet meaningful language usage differences when English may be a mainstream language, as England and America both deem English a mainstream language and yet there are dialogue differences that could result in embarrassment and improper brand representation if not careful. For more information see  The Golden Opportunity To Go International.