Going Global
If you're considering a global market, take the time to get to know it.
By Jenny Kee •
Opinions expressed by Entrepreneur contributors are their own.
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In the past, going global was only an option for huge corporations that possessed the resources to do so. But with technology enhancing our lives more and more, the global market is increasingly opening its doors to homebased businesses. Before you jump in headfirst, however, you've got to figure out whether it's the right move for your product or service. "Whether or not your product fits a particular global market may be the single most important factor to success or failure," notes William Mayfield, associate professor of economics and business director of the Center for Entrepreneurial Studies at Washington & Jefferson College in Washington, Pennsylvania.
So your first step in going global is doing plenty of research. "You need to be cognizant of the customs, linguistics and nuances of the languages," says Mayfield. Knowing your target country will not only help you reach foreign customers, but also prevent you from making critical marketing blunders.
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