Maarten de Jeu has a piece of valuable advice for all businesses who are thinking of going international and expanding their horizons. He holds that this is certainly not an impulsive decision that must be taken and requires a lot of thought to be put into it beforehand. There are a number of things that must be taken into consideration, otherwise, your business will have to face a setback it is probably not even ready for. An unplanned and scanty globalization strategy can leave your business in shambles. Therefore, according to De Jeu, it is highly important to do your homework before taking such an important and risky step in your career.
Going international with your business requires a noteworthy amount of investment, considering the upscale of operations and numerous other relevant financial factors. De Jeu suggests that it is ideal to evaluate your business’s financial condition thoroughly to study its capacity for globalization. In case, you find insufficient capital in your company’s accounts, it is best to wait for a little and focus on the local sales and profits for the time being.
Then, it is important to conduct comprehensive and well-designed market research in the region you wish to expand into, internationally. This will determine the extent to which your product or service may or may not be accepted by the consumers of that region. A number of scales can be set to gauge the market demand for your product/service. Just because your market offering succeeding in the local market, doesn’t mean it’ll produce the same response internationally as well. Thus, it is highly recommended by De Jeu to carry out an in-depth study of consumer behavior and market demand of the particular region.
Every region has its own set of rules, regulations, laws, language, culture and business trends that govern the way a business operates, what it offers and how consumers respond to it. Globalization requires you to be extremely cognizant of this fact and to be open-minded, flexible and adaptive, as per De Jeu. He explains that you must understand the language, culture, and laws of the region to mold your business accordingly. Lastly, he says that globalization puts a huge responsibility on your shoulders. Hence, you must standardize the quality of your market offering irrespective of where you go internationally. Learn more: http:// https://www.socialifechicago.com/msi-celebrates-2017-columbian-ball/smita-shah-maarten-de-jeu-alison-neidt-toonen/
Marten de Jeu is an MBA graduate from Oxford University, having a list of impressive credentials on his profile. He has a vast experience in the areas of financial services and international business strategy. He has delivered his quality services to well-known and well-established brands and companies internationally. He is also the founder of an advisory firm which has been quite successful. De Jeu’s understanding and experience in the industry has won him the position where his advice is treasured immensely.
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