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Step 1
Sell to other markets. The main reason a company goes global is to access markets outside their own country. If you have a lot of competition where you are, knowing that there are other countries that have less competition is a key motivation.
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Step 2
Avoid increased regulations. Government regulations can be heavy where you do business now. Research other countries where demand would be high but regulations are low.
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Step 3
Determine if your costs be lowered by operating outside of your country. Costs can be considerably reduced by making products outside of your country. However, exercise caution. Lowering costs to produce a product can also mean reducing quality.
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Step 4
Fight your competition. Will going global give your company an unbeatable edge? Knowing your competition is key.
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Step 1
Make a managerial commitment. If your entire company isn't committed to going global, the move will be a waste of time and money.
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Step 2
Develop a strategy and business plan and include development, marketing and servicing issues. Study what has made you successful and use those strategies when developing a plan. For example, determine which foreign markets could use your product or service and make adjustments if needed. Who are you going to sell to -- distributors, agents or directly to customers?
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Step 3
Have sufficient cash flow. Appropriate investment is absolutely necessary. The amount you will need is determined by your strategy and business plan. Outside consultation in this area is prudent.
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Step 4
Accumulate the volume and proficiency you will need to provide international products. Do you have the inventory you will need? Does your product meet regulations in foreign countries? Avoid "Channel Problems," or situations in which customers are unhappy because they need a product and it is not available due to lack of inventory or regulatory issues.
