Going global is most companies’ goal and is one of the biggest accomplishments an enterprise can achieve. While this is a huge success, worldwide operations also equate to daunting obstacles, which would not only happen on-shore but off-shore as well. This also means working with various people, customers, and clients with different lifestyles and cultures. This is why training and culture coaching from companies such as Miick come very handy in global operations. Here are a few helpful tips in managing an international business:
Communication Is Key
If there is one thing you need to master in international operations, that would be communication. A lot of things can get lost in translation and be misunderstood, especially in written communication. Work with a local coach or manager who can easily convey conversations when needed. Visiting other global locations can also help managers get more acquainted with local culture and lifestyle.
This would make it easier to understand local employees. Touch base with them at least once or thrice a week if working remotely and learn how you can help them become more efficient and productive at their jobs.
Thanks to technology, communicating with team members abroad has become a lot more convenient. Video calls have become the norm in this day and age, but if possible, visit other international sites to get a feel of the work environment there.
Take Advantage of Analytics
One of the best ways to gain informative data in any new business territory is analytics. Technological advancements have made it possible to gather and extract relevant data from systems and processes, allowing businesses to make smart decisions. From human resources to sales and marketing to customer service and technical support, analytics has virtually every aspect of business covered.
Working with teams across the globe is not an easy feat. But having the right systems and tools will definitely make it possible and successful. Leverage the best ones that fit your business requirements and help your business strive regardless of location.
Regulatory and Compliance Requirements
One of the most crucial tasks in worldwide expansion is completing all the requirements needed to start a business in a particular country. You may need to have a local business partner and corporate lawyer to help you set up. Every country and city has its own business requirements, and a local partner familiar with the process can make the setting up part easier.
Various tax codes and business regulations, among others, can be challenging. Research on a city or country’s business requirements for foreign companies first before making a decision. It pays to know what you are up against before investing time, effort, and money in a new venture.
Work with Specialists
There is little to no room for errors when setting up shop in a foreign land. Not only is it time-consuming to fix them, but it can also be costly. The best way to cut down on costs due to human error and get the project off the ground right away is to hire experts.
It can be a great idea to have someone from the main office work at the new location and then hire local experts. This diverse collaboration will bring homegrown expertise and voice that the company is known for and local representation that employees of the new location will recognize and appreciate.
While you can train new hires on tasks they will be working on, it will give you peace of mind to know that someone who has a proven track record on the subject is there to keep things in control.
Create New Business Relationships
Nothing makes staying abroad better than having friends there, and the same goes for business. Your company may be an institution in your own country, but it can still be considered a new player in a different land. Look for new clients and business partners that can show you the ins and outs of your new location. It is also crucial to build a lasting relationship with your team abroad. Hire local managers and team leaders that can help establish and nurture friendships and camaraderie offshore.
There is no easy way to start a business, much less do it thousands of miles away from home—but it can be done. With the right mindset, people, systems, and processes, your worldwide business expansion might be a few video calls away.