Globalization is an issue which affects us all and has helped many businesses to grow and expand internationally. Growing your business in a new country used to be a challenge too high for many businesses, however, it is now achievable for many, but not without its challenges.
Do your research
When you are looking to grow your business into a new market, it is vital you ensure your product and service are appropriate and relevant. First of all, do your research; does the new market need or want your product? Just because you are solving a problem in one market, doesn’t mean it exists in the new. Secondly, your product name — ensure you find out what it means in your new chosen market. There are many examples where the direct translation doesn’t translate well and can have a very different meaning. One example of this is when American Motors launched the ‘Matador’ in Puerto Rico. Unfortunately the name directly translates as ‘killer’ which didn’t install much confidence into the cars’ capability on the dangerous roads of Puerto Rico, proving that it’s very important to ensure you have a great team of translators on your side to ensure you get the best from your new market.