The question is, how would entrepreneurs know when they are ready to go global? What signs are there to watch for to be sure that they are not entering into this lightly or haphazardly? Truth be told, there is no sure-fire way to tell whether you're ready to break into the international scene or not. However, there are ways to gauge whether your business can survive globally.
Here are some questions you need to ask yourself:
- How does the quality of my products compete with its international competitors? Do I have high-grade products or does it fall short of what consumers expect?
- Would the country I'll be exporting my business to accept my products or are there limitations to it? If there are, what are those and how do I plan to overcome it?
- Have I analyzed the competition fairly thoroughly? What edge can I offer to make consumers shift from what they're currently using to my goods and services?