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5 Tips to Grow Your Business Globally

Entering into Global markets is a great way to organically grow your business. However, many small to mid sized businesses have a hard time, if they even venture to go global at all, entering global markets. Here are 5 tips for businesses looking to expand their business by entering global markets:

  • Revise your pricing strategy to suit local purchasing power. I like using this example: Microsoft is having a difficult time getting Mainland Chinese computer users to use their operating system and Office products. Why? Simply, it costs too much for locals to buy Microsoft products. Linux is popular in China simply because it is open-source and an affordable solution for that market. Mainland Chinese purchasing power is very low compared to those in the US or Europe. So, pricing your products and services according to local purchasing power is a must when entering foreign markets.
  • Tailor your product or service offering with the local market in mind. Why is Unilever having such success in Asian countries such as India and China? They tailored their products to be affordable for the general consumers who were mostly living in rural areas and were low-income earners. They did this not by offering a super-family size packaging but a smaller or "sachet" size packaging only marketed to these countries and demographics. As a small or medium business you would have more control over whether you can change the way you offer your products simply due to less red tape and top level management to go through thus making it easier to enter global markets.
  • Find a local partner who is on the frontlines. Having worked at a multinational company in their Asian headquarters, I've seen far too many times where the Directors and CEOs sitting in their offices in the US and UK blindly launch new products in emerging markets (Asia specifically) simply due to media coverage and media hype about the latest and greatest market to be in. Often times than not, not listening to your frontline staff or getting the "real deal" from those on the frontlines in those markets will lead to failure. They know those markets intimately and hear and know about things that may not get reported in international news.
  • Know your local market and regional competitors. I remember one case where a business owner who ran a relatively successful online retail cosmetic business in North America and wanted to move that business model into China. The reasons why I believed it was not a feasible business model for that market:

    • There are literally thousands of physical retail shops selling low-cost to brand name cosmetics.
    • ECommerce and credit card usage in China is not popular. Cash still rules commercial transactions.
    • Mainland Chinese women go to Hong Kong to buy name brand products because they know that in Hong Kong the products are authentic.

    So, it's important to know whether your product, service or business model will be able to compete with local competitors. Ask yourself: "How are locals in these markets presently sourcing these products or services?"

    Speaking of Asia as a region, often times you will need to look at regional competitors as well who may be headquartered in Hong Kong or Singapore but also market into the rest of Asia. So, being aware of regional competitors as well as local competitors is important to determining your place in these markets.

  • Be mindful of the local business culture. When you are developing business partnerships with local companies, be mindful of the way they do business in their country. For instance, the Asian region as a whole, consider the concept of "Face" an important concept. In Asian culture, it is not polite to be too direct or give direct rejection or create confrontations. Having cultural sensitivities will go a long way in developing your business partnerships in global markets.
  • In this age of the Internet and as more countries are being wired in, it's becoming more feasible for businesses of any size to expand into international markets. So, start growing your business and expanding your reach. If you follow the tips above, you'll have a good start to going global.

    Copyright ? 2004. Ethan Hathaway.

    Wayne Po, is the Founder and Marketing Consultant of Ethan Hathaway (http://www.ethanhathaway.com): A virtual consultancy that helps small to medium sized businesses with their B2B marketing communications challenges and helps global SMEs market better into Asian markets as well as Asian based businesses needing help marketing overseas.

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    In The News:

    Tracking the progress of the third party testing we at PES are coordinating along with U-Plug Products LLC, of their 2 kW U-Plug magnet motor that is a 24"x6" portable cylinder weighing 20 pounds, expected to cost 2,000 USD. We want to run it three times longer (21 hours) than what the best batteries available could provide. (PESWiki; February-April 2016)
    Pre-launch video announces a new LENR website coming March 1, 2016 at http://LookingForHeat.com The video is very well done as an entertaining piece that hopefully will go viral. (Free Energy Blog; February 21, 2016)
    It's not easy to find a qualified testing agency that is also willing to sign off on something that appears to defy our existing understanding of the laws of physics. U-Plug has agreed to allow for a group of us scientists, including at least 3 PhDs to go test their unit and publish our report. (PESN; February 20, 2016)
    So that this is quite clear, this is a test on a Regular Torch. NOT the ELFE flashlight. This is to compare them. 2 x NiMH AA 1.2v Battery's in a Regular Torch with a Halogen Bulb. Load is 2.8v and 0.85amps. (PESN; February 17, 2016)
    Video explains the scientific principles behind how the ELFE flashlight harnesses endless free energy from the environment (Earth's magnetic field), which works better in some regions than others. It also shows the insides the torch. Uses the word "antennae," as one of the components. (PESN; February 14, 2016)
    "The OPhone contains a capacitor that directly powers our phone. During extensive use this capacitor may become discharged, however this capacitor is being constantly trickle charged by Orbo. So after a period of time the capacitor will be recharged and the phone will be functional again. In essence the phone is charging itself." (Free Energy Blog; February 13, 2016)
    The company that has figured out how to harness the earth's magnetic field to produce usable power and has been selling the ELFE flashlight (two more customer reports), is now developing a 3 kW generator. In two weeks, they are holding a business meeting for international distributors. (PESN; February 12, 2016)
    Illinois company is gearing up to manufacture a 2 kW (115 volts, 17.3 amps) magnet motor that is load-following, portable, 24"x6" tube, weighing 20 pounds, very quiet, with 3-year warranty but expected to last at least 20 years with zero maintenance. Third-party tested. MSRP 2000 USD, beginning March, 2016, through distributors. (PESWiki; February 11, 2016)
    The government agent who worked on this technology five decades ago, that is similar to Professor Steven E. Jones' Joule Ringer, thinks it is conceivable that we could eventually scale this solid state technology up to have a device the size and price of an air conditioner providing 20 kw. (PESWiki; February 9, 2016)
    Nagendra Singh in Mumbai, India, informs us that they have built five of these and have two running for customers presently, in the 40 kVA range. "Presently it is too [expensive], costing 3200 USD per kva below 30 kva." (PESWiki; February 8, 2016)
    The SunCell is described as a solid state "Sun in a Box." A 200 kW module would weigh around 250 pounds, with energy production cost being around 1 cent/kwh, so return on investment could be ten days. They are expected to be available commercially by Q1, 2017. (PESN; January 6, 2015)
    "Today I received my Elfe Flashlight and it works. Time will tell if it meets the claims of automatically recharging, when depleted. If it holds, the claims a real breakthrough in FE technologie would have been accomplished." -- German customer (PESWiki; February 6, 2016)
    The phone battery indicator stays near full even with heavy usage throughout the day. (The battery is charged by the internal OCube that pulls energy from the wheelwork of nature, solid state). (PESWiki; February 5, 2016)
    The capacity of the Proton-3ND (Proton -3 Nano Diffusion) battery is projected to be 44 times the capacity of lithium batteries. Electric vehicles with these batteries would have more power and much more mileage at no extra charge. (PESN; January 4, 2016)
    HH2 water fuel cell creates pure hydrogen off a 9-volt battery. This was a big diesel HH2 cell that was tested on a 16-liter Cat engine for CARB testing; yet it ran on very low amps and a low 9 volts. (PESWiki; February 3, 2016)
    A former U.S. Government worker describes his effort to bring to public awareness (by highlighting things presently in the public domain) energy and anti-gravity technologies that the government had operational 50 years ago but has kept from the public. (PESN; February 2, 2016)
    Imagine an incandescent bulb that is actually more efficient than LEDs! Well, it actually exists (MIT) and it does so by recycling light. (Free Energy Blog; February 2, 2016)
    SMBC-Comics.com has posted a fun spoof on our skeptics. (Free Energy Blog; February 1, 2016)
    "OK, so a lot of people are asking what's the difference between an Orbo power cell and traditional batteries." Batteries store energy, Orbo generates energy, then trickle charges a lithium ion battery.] (Free Energy Blog; February 1, 2016)
    Mr. Keshe is as misleading in the field of free energy as he is regarding me. That has been my experience the years I've been exposedto his work. He takes something and blows it so far out of proportion that it barely resembles the fact from which it was extrapolated into infinity. He demands: "Close PESWiki now." (PESWiki; January 31, 2016)
    They have achieved solid state operation using an electromagnetic pump to spray the molten silver between the electrodes for the 1000/second continuous pulsing for continuous power production. (Free Energy Blog; January 29, 2016)

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