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Global Business Online – Knowing When to Expand | TheVGCGroup.com

global business

Want to expand your online business to a global scale? Yes? Congratulations on aiming to take that next step! We will share with you some steps on how to take your online business globally.

Aside from having a viable product or service, you can find out if you are ready to expand your online business to the global market based on the following criteria:

  • When you have already excelled in your current market and want to expand your customer base and increase sales in new international markets.
  • When your products or services are out of season in your current market; however, it is in season in international markets. By having a global business online, you can have income coming in all year round.
  • You can offer a quality service or product that is not yet introduced in these international markets that are innovative and can help assist the functionality of people’s lives.
  • You have the potential to compete with other products or services similar to yours by becoming a global company. Your business also has the capability to dominate in other markets.

If you feel the above criteria fits your reasons to expand, then these are the next few things you need to factor in before deciding to go global with your business:

  1. Create a global business plan. Is your product or service a need in the global market? Are there any cultural differences that need to be addressed when it comes to your product or service?
  2. Evaluate your business’ needs and the goals of your business in going global.
  3. Do foreign market research to identify potential international markets. You can use The Department of Commerce as a source for information on foreign markets for U.S. goods and services. Other websites you can use are export.gov and U.S Small Business Administration.

Once all these have been met, you now need an international online presence for your business. Business.com offers some starter tips on how to build your online presence here.

We wish you the best in getting into action on expanding your online business globally. The VGC Group has been doing it for its clients since 2016 and we would love to help you conquer the global stage.

Tell us about your online business. Connect with us at info@thevgcgroup.com.