Whatever your feelings about the Chinese, you have to give them credit for swiftly becoming a global power. It’s estimated that this year China will overtake the US and become the largest economy in the world. So what made them so successful? Watch this short video about the strategies that worked for them:
If you are already an exporter you will most likely notice that their mode of operating is no different from successful exporters of any other nationality.
But what if you haven’t yet started working outside your own country? The market is irrevocably global. Already successful at home? Then, what’s stopping you from going global? A good product or service can be successful all over the world.
Get the facts and figures
Exporting isn’t rocket science. There is no need to sign up for a seminar or take a course. The main thing is to do business. Once you have a deal you will get most information you need from the customs and tax authorities, your lawyer, bank, accountant and insurance company.
Do you have a global brand?
If not, creating one is the first step. In today’s online world we all google anything new and if Google comes up with information in a language we don’t understand we lose interest. An abundance of companies all over the world fail on the global market because they forget that in other countries nobody knows who they are. The best way to develop a global brand is to hire someone who has lived, worked/studied and integrated all over the world and knows how to develop a brand. If it’s not created by someone with a global mind, you will get a national brand translated to different languages.
Culture is key
How do they do business in the country you are interested in? Even in Western Europe there are differences between all countries. And when it comes to cultures different from your own, you can make a fatal mistake without knowing it if you don’t adapt. Again, find out from people with the experience is essential. It’s not for nothing one of the four building blocks for China’s success overseas is culture.
You will neither export nor become a global success without customers.
If you are selling services it can successfully be done on social media and e-commerce is another form of export that can be done online.
But frequently there is a need to have meetings with potential customers to come to an agreement. In the West it normally works to contact companies directly. But in the developing world it’s often essential to have an introduction to get meetings with the people on high levels you need to see in order to do business there.
The key to global success is preparation, adapt to the culture, a global brand that focuses on your strengths and asking for help. Rome wasn’t built in a day and global business development can take time. You will learn from your mistakes and when you get a breakthrough globally you will find that it was worth waiting for.
Do you agree with the Chinese about the importance of the four building blocks culture, governance, processes and people? Is your brand national or global? Do you export? If so, where? Are you interested in increasing your global presence? Are you skilled in adapting to other cultures? How long did it take you to succeed globally?
Video: World Economic Forum – You Tube