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Climb over the barriers and go global: 5 tips shared by Alan Kelse

Climb over the barriers and go global: 5 tips shared by Alan Kelse
Thursday, 21 June 2018

The market moves and evolves rapidly. In this context, many entrepreneurs identify international expansion as a critical component of their business growth strategy but sometimes they are unprepared, and they finish overwhelmed from the barriers faced along the way. [1] At GLOBAL-SPIN we are working towards providing knowledge useful to implement effective strategies of internationalization in new business ventures. Today we are looking at the advice of Alan Kelse. After 14 successful years working on Nord Anglia Education's Board of Directors, here Kelse he tells us the journey through 5 tips to embark on an international expansion venture, based on his expansion experience into China. [2]

- Have local market knowledge. Expanding the business and moving into a new market requires not just product quality, but also adaptability, and local business knowledge. The commitment to the community, and respect for local culture and language are also crucial. It's important to work closely with the local community, within its economy system which helps firm up, in its early stages, the foundations upon on which enter with the local business. [3]

-Build and cultivate local partnerships. Involvement of local partners is a good way to build a network and develop the business international reputation. Any entrepreneurs looking to internationalise their company need to research partners, and ensure that both are working towards achieving the same goal and desired outcomes. [3]

-Understand the new legislation. Global markets have a number of different legislations, which determine a complex backdrop for managing business internationally. Knowing laws and how they have to be applied is crucial. This may apply to employment laws in different jurisdictions (working hour restrictions, and employees’ rights), contract renegotiation, and company laws (legal and listing requirements). [4] To receive the best support and guidance, it may be useful to employ local lawyers who have an intricate acknowledging of the local legislation. [3]

-Expectation management. One important aspects of going global is how you communicate with and manage the expectations of the people involved, as they will inevitably impact the business. [3]

-Cross-border knowledge sharing. By asking teams to share insights and best practice tips, you will help to increase productivity and efficiency while also ensuring your business provides the best possible service. [3]

These are just some of the infinite and mutable tips for a successful international expansion. However, be careful. Missing out on any of these advice could hamper your efforts significantly and make your global adventure fail. [1]

[1] https://www.entrepreneur.com/article/274815
[2] http://markets.businessinsider.com/news/stocks/alan-kelsey-steps-down-as-chairman-of-board-of-directors-for-nord-anglia-education-1003173843
[3] https://www.raconteur.net/business/5-tips-overcome-barriers-international-business-growth
[4] https://www.grantthornton.global/globalassets/1.-member-firms/global/insights/article-pdfs/2015/advisory/a-global-guide-to-business-relocation_final4.pdf