Companies enjoying success in the U.S. often seek global
expansion to gain strategic benefits from accessing new
markets—new revenue potential, talent acquisition and
increased brand awareness. Before replicating your business for a
new market and approaching global expansion as a default growth
option, the development of a well-constructed business strategy is
imperative. International business expansion can present
challenges, many unknown. However, there is potentially a great
deal of upside if you develop a plan that balances the risk of
expansion with benefit of a new market opportunity.
At the
2015 FOLEYTech Summit, Scott Aldsworth, Vice President of Sales
of Radius; Luis Barros, Founder and Managing Partner of Leading
Business Ventures; and Steve Kozik, Director of Omron Electronics,
LLC; shared practical tips for avoiding pitfalls when businesses
consider going global.
