I am an avid supporter of going global. You may have noticed this from my blog content. While it may be difficult, it can bring many benefits to any organization. So, why do companies stay domestic? There are many reasons that companies decide not to go global. Here are some common thoughts:
1. We are doing great in our home market! There is no reason to go global.
2. Our company is struggling with the domestic market, there is no way we can take on anything else.
3. We are a small business and don’t have the resources to go global.
4. We don’t have the time, or expertise, to establish an exporting plan.
5. Our company is struggling to compete in the domestic market, we can’t focus on international markets.
6. Trade barriers are difficult to overcome in many countries and it is too much of a headache.
7. We can’t handle the risk and uncertainties. It is too unfamiliar.
8. It is too expensive to do market research and get the information we need to make decisions.
Does this sound familiar to you? Maybe your company relates to many of these concerns. These are common reasons why companies stay at home. Going global is scary, and it can involve risks. Sometimes, you just don’t know where to start and the task seems extremely daunting. This is understandable. As I previously explained, there are four requirements for exporting. Your company needs a strong commitment, lots of research, stay organized and remain flexible.
Exporting is a huge commitment, and your company may relate to these fears.My next post will cover why you should export and how to conquer these fears. Comment and let me know if you have any other fears I did not mention and I will address them in my next post!