Rocky Romanella, the CEO of 3Sixty Management Services, discusses the valuable opportunity for growth that comes with scaling your business internationally. In today’s globalized world, thanks to e-commerce, businesses are able to reach customers all around the world. It is crucial for businesses to meet the demands of international customers in order to be successful on a global scale.
Scaling a business internationally does come with its challenges. One common mistake that leaders make is failing to acknowledge that they are guests in another country. Before embarking on an international expansion, leaders should start preparations months in advance. Romanella provides three tips to help businesses successfully navigate the international market.
Firstly, it is important to be clear about how long the business plans to stay in a new country. This shows the government and entities that the business is committed to establishing operations in the country, rather than just being a temporary visitor. Secondly, businesses must be prepared to explain who they are and what they do, even if they are a household name in their home country. Establishing credibility and a clear understanding of the business’s product or service is crucial in a new market. Lastly, businesses must understand, accept, and respect the culture of the country they are expanding into. This includes adapting to different labor laws, holidays, decision-making processes, and ways of doing business.
Assimilating a business into a new culture requires demonstrating through actions that the organization deserves respect and business in the new country. It is important to show sincerity, fairness, honesty, and impartiality in order to be successful in a global market. No organization is too big to fail in a new country, and building trust and relationships with the local community is essential for success.
The Forbes Business Council, of which Rocky Romanella is a member, is a premier growth and networking organization for business owners and leaders. Through the council, business professionals can connect, learn, and grow their companies together. The insights shared by Romanella highlight the importance of careful planning and understanding the cultural nuances of each country when scaling a business internationally. By following these tips, businesses can navigate the complexities of the global market and successfully expand their operations to reach new customers around the world.
