Many American companies start selling products overseas without taking into account the differences in doing business in the United States vs a foreign country. Some countries may also present significant barriers to trade. Look out for selling few products to high maintenance markets. You can also click on the menu links below for specific answers to common international business problems.
Obviously, the best and least risky approach to a new market is by developing a plan.
The internet can provide a wealth of information about new markets, but just because a country is larger, has higher population, or higher GDP, determining whether it is a good prospect for your company is a significant question. Here are some resources we use:
Depending on the industry you are in, specific statistics will be most valuable in your analysis. For example, selling computer equipment may be extremely problematic if the power infrastructure is limited to small areas of the country, or if power blackouts, brownouts or power surges are common. Your customers may also have to invest in their own power supplies, generators and / or backup systems. Other categories of products that rely on consistent power supply include medical devices and manufacturing facilities. The resources listed above can help you determine whether investment in the market will produce sufficient returns.