Top Tips for How to Go Global

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At a recent How to of Going Global event in Cork sponsored by KPMG Private Enterprise, supported by Enterprise Ireland, Ulster Bank and Business Achievers, companies discussed challenges and opportunities of scaling and going global. Here are top tips that companies shared for how to go global:


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1. USA needs a regional approach

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.

2. Bootstrapping vs VC investment

It's not an either/or. Both methods of funding growth to scale and go global have pros and cons. VC investment can mean structures are created more quickly. Bootstrapping can be part of the company culture and story.

3. What problems are we solving?

Sales have moved towards what problems are we solving. Deep diving and engagement with clients to uncover problems that you can help solve that build new revenue streams.

Recommended reading: Embarking On International Business

4. Recurring revenue opportunities

Look at the opportunities for moving away from single sale to recurring revenues to build your growth.

5. Understand your numbers

What is our average sale value?
What value is each customer generating?
Where can we build revenue from?
etc

6. Use technology

Use technology to help qualify leads, automate marketing, help with recruitment.

7. Build links with research centres

Leverage the 3rd level institution and research centres. They can help with grant applications as well as resourcing and prototyping projects from idea to implementation.

8. Think creatively about new markets

Don't just think UK or USA. There are opportunities such as China and Commonwealth countries and other developing markets.

9. Take advice on financial planning

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

10. Explore 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.

11. Make decisions and fail fast

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. Hanging on can cost your business.

12. Think about Marketing

Your brand is what your customers think of you. Online advertising generates leads and have a method to convert using metrics to get to know prospects/customers habits.

13. Be methodical in hiring great sales people

Salespeople will ‘sell you’ at interview but may not be effective after joining the business. Have a methodology, take your time and have tests for hiring new sales staff.

14. Have a route to market strategy

Direct sales work and will get references etc but consider partnerships to gain effective global footprint, especially for enterprise sales.

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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Comments 1

Fionan Murray on Tuesday, 30 October 2018 09:16

Really top class event. Great discussion and networking amongst people that think and act global...

Really top class event. Great discussion and networking amongst people that think and act global...
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