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Going Global

Your business benefits of internationalizing. . . .
your company are significant; the personal benefits are important too like spending some weeks a year visiting other countries, enjoying other cultures, and speaking other languages.  
You make friends and business relationships overseas with your client's partners and employees. These are the sort of experiences you get when you travel on vacation.

The advantage that an international business gives you is that you can enjoy them all while you are making, not spending, money!

If your business is at the several millions level and profitable, and if it is running smoothly, you might consider taking it on the road and making it global.

If you do, keep the following in mind:

• Get a trustworthy local partner or
   

• find a trustworthy local superstar to run the foreign branch of your business.

• If you have the choice, begin in an English speaking country.

• Start with what you know - products and promotions that have worked well for you.

• Make changes as necessary to accommodate local differences,
  
   

• but don't listen to anyone who tells you "You can't do it that way here."

• If possible, test your best product/promotion in the foreign market before making a financial commitment. If it bombs, postpone your plans until you find something that does work.

Prepare to spend a considerable amount of time overseas in the beginning working with your key people.

The Only Three Ways to Grow Your Business Did you know that there are only three ways to grow a business? 1. Increase the number of customers. 2. Increase the average transaction value. 3. Increase the frequency of repurchase. Find a way to maximize each one, and your business will experience an astonishing rate of growth.

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