5 Mistakes Companies Make When Trying to Go Global


At a recent How to of Going Global event in Cork sponsored by KPMG Private Enterprise, supported by Enterprise Ireland, Ulsterbank and Business Achievers, companies discussed challenges and opportunities of scaling and going global. Here are 5 mistakes companies make when trying to go global:

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1. Trying to enter new markets when things aren't going well at home

If things are not going well in your home market and you aren't closing sales, there can be a temptation to look to new markets to solve the problem. But "the grass is always greener" is not going to solve the problem. 

2. Always thinking USA

The US market is one of the toughest, most aggressive markets to go into. People think of the United States as one country but the reality is each state is different. You can do exploration and market validation from afar but when you come to sell in the States you need people on the ground. People in the States like to shake hands in person to close deals.

Look at the opportunities that other markets offer, e.g. the Commonwealth from a UK base, or China.

Recommended reading: Top Tips for How to Go Global

3. Being slow in your decision making

If you're selling in the wrong market or you're selling the wrong product, don't hang on and don't be slow to realise when the market isn't working for you.

4. Not taking advice on financial planning

Pay for time and advice on planning the financials for going global and growth. It will be money well spent.

5. Ignoring wider sources of funding for growth

Keep your options open for funding growth. For example, grants and accessing programmes like Horizon 2020 can deliver funding for growth just as much as loans and investment.

The 'How to of Going Global' events series is sponsored by KPMG Private Enterprise, the next invite-only events will take place in Dublin and Galway. Contact This email address is being protected from spambots. You need JavaScript enabled to view it. for more details.

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