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Work Around the World

  • <p>Organize an internal research project team to identify -- and understand -- new technologies, processes and practices, and business opportunities. But when planning your company's strategy based on such research, be sure apply a global outlook. Look beyond your present borders. Once you find a niche your products or services can fill in foreign markets, you can make their trends yours.</p>
  • <p>Talent and ideas can flourish everywhere. No company, regardless of geography, should hesitate to go wherever those ideas are. The United States has no more claim on innovation today than the next country. Cast a wide net to hire good people and get them involved; they may be the foreign (human) resource that opens up a new market for you.</p>
  • <p>Once you've identified a new geographic market, don't wait too long. Open up a one-person office as a vanguard for future expansion. If the market is there, such a humble beginning could expand to hundreds of employees. But someone -- regardless of their experience or position -- has to take the first step.</p>
  • <p>Don't arrive in a country and just accept the status quo. Sometimes you need to go with the flow, and other times you may need to change the course of the river. Consumers in a new market might have preconceived notions about the kind of product or service you provide -- or your company. Don't throw everything away. Alter the local perception of what you do.</p>
  • <p>Get to terms with the conditions and prejudices of a particular market. Once you understand the local population more, you can reach out to them as consumers more easily. And when you are more acquainted with their needs, your familiarity will help instill an appreciation for your approach to doing business.</p>
  • <p>You've just released the next big thing. But how do you get the locals to buy it? Hopefully, the product or service was designed with local needs in mind. You can also create a marketing campaign that reflects the country's culture and commerce.</p>
  • <p>If beginning a business in a third-world country, think about new ways old tools can be used -- and vice versa. No matter what industry you work in, you can offer tactics, talents, and technologies developing countries may not have access to already. What you might consider a simple thing may make profound differences in a different setting.</p>
  • <p>As ideas flow from team to team, company to company, and country to country, you can help create a distribution channel for ongoing global growth. Don't compete, collaborate. A model used in South America may transfer well to Asia. A global network of collaborators who share their experiences and ideas can improve the chance of international success.</p>
  • <p>If you're facing challenges picking up the pace in a new market, look for a local organization to pair up with. They could provide insight you are lacking. Working with local operators could create a better product or service. Even logistic assistance such as distribution may help lead to a success story.</p>
  • <p>Don't just focus on the business community. As you expand around the world, invite representives from government agencies, colleges and universities, and other organizations to join the discussion about innovation and leadership. Real-world advice and insight on the state of a country can be more valuable than millions of dollars in research.</p>
  • <p>Examine where your company stands in terms of future demand for a product customized for a specific market. What might not immediately look like an innovation could be a surefire way to make money in a new region. A product specialized for local consumers will sell better than one that hasn't been.</p>
  • 01 /11

    Organize an internal research project team to identify -- and understand -- new technologies, processes and practices, and business opportunities. But when planning your company's strategy based on such research, be sure apply a global outlook. Look beyond your present borders. Once you find a niche your products or services can fill in foreign markets, you can make their trends yours.

  • 02 /11

    Talent and ideas can flourish everywhere. No company, regardless of geography, should hesitate to go wherever those ideas are. The United States has no more claim on innovation today than the next country. Cast a wide net to hire good people and get them involved; they may be the foreign (human) resource that opens up a new market for you.

  • 03 /11

    Once you've identified a new geographic market, don't wait too long. Open up a one-person office as a vanguard for future expansion. If the market is there, such a humble beginning could expand to hundreds of employees. But someone -- regardless of their experience or position -- has to take the first step.

  • 04 /11

    Don't arrive in a country and just accept the status quo. Sometimes you need to go with the flow, and other times you may need to change the course of the river. Consumers in a new market might have preconceived notions about the kind of product or service you provide -- or your company. Don't throw everything away. Alter the local perception of what you do.

  • 05 /11

    Get to terms with the conditions and prejudices of a particular market. Once you understand the local population more, you can reach out to them as consumers more easily. And when you are more acquainted with their needs, your familiarity will help instill an appreciation for your approach to doing business.

  • 06 /11

    You've just released the next big thing. But how do you get the locals to buy it? Hopefully, the product or service was designed with local needs in mind. You can also create a marketing campaign that reflects the country's culture and commerce.

  • 07 /11

    If beginning a business in a third-world country, think about new ways old tools can be used -- and vice versa. No matter what industry you work in, you can offer tactics, talents, and technologies developing countries may not have access to already. What you might consider a simple thing may make profound differences in a different setting.

  • 08 /11

    As ideas flow from team to team, company to company, and country to country, you can help create a distribution channel for ongoing global growth. Don't compete, collaborate. A model used in South America may transfer well to Asia. A global network of collaborators who share their experiences and ideas can improve the chance of international success.

  • 09 /11

    If you're facing challenges picking up the pace in a new market, look for a local organization to pair up with. They could provide insight you are lacking. Working with local operators could create a better product or service. Even logistic assistance such as distribution may help lead to a success story.

  • 10 /11

    Don't just focus on the business community. As you expand around the world, invite representives from government agencies, colleges and universities, and other organizations to join the discussion about innovation and leadership. Real-world advice and insight on the state of a country can be more valuable than millions of dollars in research.

  • 11 /11

    Examine where your company stands in terms of future demand for a product customized for a specific market. What might not immediately look like an innovation could be a surefire way to make money in a new region. A product specialized for local consumers will sell better than one that hasn't been.

Fast Company Staff 12.19.07 11:09 AM

Organize an internal research project team to identify — and understand — new technologies, processes and practices, and business opportunities. But when planning your company's strategy based on such research, be sure apply a global outlook. Look beyond your present borders. Once you find a niche your products or services can fill in foreign markets, you can make their trends yours.

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