How to Succeed in Going Global [Infographic] 46

How to Succeed in Going Global [Infographic]

This is a guest post by Colette Cassidy, Director of Irish tax consultancy firm All Finance Tax.

It takes an extraordinary amount of hard work to set up a business. It takes a greater deal of hard work to make the business a success.

It takes a greater deal of effort still to turn the business into a globally successful one.

When companies such as Tesco and Starbucks find it an uphill battle to achieve worldwide success, that speaks volumes for how fiendishly tough it is to have a globally successful brand.

Hard work alone is not enough to make it big on a worldwide scale. The key ingredient is often understanding how overseas buyer cultures work and being able to adapt your product or service (and indeed your overall business) accordingly.

What are the key mistakes to avoid in going global?

  • Lack of research.

This is often the one that scuppers dreams of global business domination. Every international market has its own unique characteristics.

For instance, your domestic market might have a culture of impulsive buying, but a foreign one could be far more conservative.

  • Failing to adapt.

This is another common error in international expansion.

What works in Ireland or the UK, for example, is by no means guaranteed to work in the USA or Japan. A level of adaptation to other cultures is essential.

  • Inadequate budgeting.

You know that going global will cost big bucks, but a lot of businesses still don’t budget sufficiently to meet the investment that international expansion demands.

  • Expecting a quick return.

The costs involved in going global are so steep that you would be utterly foolish to think you’ll make the money back quickly.

International expansion is a long-term game.

  • Casting the net too wide.

Some businesses decide to expand internationally and try to crack numerous markets straight away, when they would be much better off focusing on one or two. Expansion can be incremental.

What are the benefits of going global?

This all makes it seem as if international expansion is a disaster waiting to happen, but if you develop a sensible strategic plan, you could be on to a winner.

  • Continued growth.

You could settle for being top dog domestically, but then are you really progressing?

If there’s a genuine chance that the business will succeed internationally, go for it if you want the company to grow.

  • Reduced domestic dependence.

Just because you are number one at home now doesn’t mean you will be forever. A seasonal lull in the domestic market could be tough to endure, so why not try to pounce on concurrently strong periods elsewhere?

  • Brand development.

A globally recognized and respected brand is worth millions. Think of how McDonalds and Google are world-renowned names.

If you play your cards right, you too could have a brand that enjoys a positive image all around the world.

  • Shooting for the stars.

If the chance to challenge the world’s biggest brands doesn’t excite you as an entrepreneur, you shouldn’t be in business.

Every entrepreneur should relish the opportunity to take on the big boys at their own game, because it’s an opportunity that only comes along for a very select few.

Depending on what your business does and how it would translate to foreign markets, international expansion may or may not be for you. The least you should do is fully analyze the likelihood of succeeding globally. After all, you’ve achieved a lot in setting up the business and bossing the domestic market, so think of it as another rung on the ladder.

Here’s an infographic, courtesy of All Finance Tax, sharing all that, together with the steps to going global, what to do during an international meeting, hiring a distributor, and more.

 global business infographic

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Data Is Important to Your Business’s Operations: Keep It as Safe as It Is Accessible 15

The Secret to Designing Perfect Landing Pages

Computers have been able to move files between one another since the technology’s very early days. The first File Transfer Protocol (FTP) technology emerged in 1971. Back then, network administrators only needed to move data from one place to the next; security was not an issue. Furthermore, since the computers were probably in the same room, the data did not have very far to go.

Today, there are many ways to move data efficiently and safely over long distances. MOVEit by ipswitch is a good example. It’s very robust yet also very easy to use. It also has a number of audit trail and compliance features that really make it a useful program.

How do you know for sure whether Moveit or some other program is the right one for your business?

What is Secure File Transfer?

FTP still works very well when there is absolutely no need for security, but these instances are few and far between. Some of today’s most popular file transfer options are:

  • Secure File Transfer Protocol: As the name implies, SFTP is FTP plus encryption. The combination is very fast and prevents network eavesdropping. SCP (Secure Copy) is a closely related protocol.
  • Managed File Transfer: MFT is a much more complex option. In addition to file security, it adds a variety of audit, management, reliability, and other features.
  • Email Encryption: Instead of transferring the file as an attachment, a secure email sends a link. Then, the recipient can download the document from a secure site. Moreover, email encryption enables users to send very large files with little drama.
  • Hosting: Originally, file hosting services supported document collaboration and nothing else. Lately, security features have emerged as well, making network hosting a viable secure file transfer option.

All these methods rely on access control. Typically, that involves a username and password. Depending on the organization’s needs, the access control can be much tighter. Usually, this process involves an Identity and Access Management (IAM) system.

Some File Transfer Features

In its most basic form, secure file transfer relies on command line interfaces. This system is automated and not designed for user interface, so there are very few additional features. On the other hand, command line interfaces are very low-cost and allow organizations to maintain control over file security even if they use cloud providers.

SFTP is still the best option for most businesses, but SFTP by itself often falls short. Consider adding additional features like:

  • Auditing: Sometimes, auditing functions are available as an add-on. But organizations that also have compliance issues in this area, such as those that handle Personal Identifying Information (PII), may be better off with MFT.
  • Scheduling: This need is not as common but it’s still out there. Sometimes, users need to send documents at certain times of the day, usually to avoid bandwidth conflicts. Customers with scheduling needs almost always need MFT, because its systems are very robust.
  • Indirect Transfer: Only MFT allows users to send documents to an intermediary server when then forwards them to the recipients. The user and recipient are isolated from each other, and such transfers are easier to track.

Consider the options carefully before making a decision. Then, go with an established provider who stands by its products.