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Tips for Doing Business Internationally

Getting international clients is one way to expand your operations or client pool. But international business is not a rosy affair. If you’re used to only dealing with local clients, you may want to change strategies to boost your chances of succeeding globally. Here are five tips to make dealing with international clients a breeze.

Perform a background check on your target market. For example, if you’re in the United States targeting clients from Asia, you need to understand how they operate there. Your prospective clients’ culture, time zone, legal rules and regulations, and even climate will affect how you approach everything, from product development and marketing to fulfillment.

For example, if you’re used to sending your local client emails at 7 a.m. your local time, you may need to reschedule for your international clients. An accurate understanding of their local culture will also inform your marketing and messaging. Also, cultural references that work well in your local market may fail in your international target market. Similarly, a hot product in the US market, like a fleece jacket during winter, may not sell in the Middle East.

You must also understand how your client’s local currency and foreign exchange affect your pricing. If you intend to deal with clients one-on-one, it’s best to agree on which currency makes things easier for both sides. If you deal with several customers, as is often the case with eCommerce stores, you could allow international customers to browse your site with their local currency.

If you sell physical products, logistics can become a bottleneck if you don’t get them right. More and more international customers are turning to cross-border eCommerce because they provide products that consumers might not have access to on the domestic market. So, if you’re going into eCommerce when planning logistics, you may have to compete with established retail brands like Amazon, Alibaba, and eBay. There are also local competitions to consider.

With shipping, you need to consider things like shipping rates and return shipping. You need to ensure your shipping options make financial sense to both parties.

Find business partners. Having a reliable business partner on the ground can be useful when selling physical products. A local partner will help you with such things as delivery and a host of other after-sale services like installation if needed. A local business partner would also give you a competitive advantage because they likely understand their local market and its dynamics.

Whether dealing directly with your customer or through a third party, always have everything in writing. Legalized contracts protect both your bottom line and reputation. Given there may never be face-to-face meetings, having all parties’ expectations and duties in writing makes it easier to do things.

Considering language differences, tax laws, international law, currency exchanges, and shipping logistics, dealing with international clients may seem overwhelming. But thanks to technological advances, you can now venture beyond your local markets. Tools like Zoom make communicating and collaborating with international clients seamless. And thanks to numerous cross-border payment platforms, getting paid for your products or services might be as hassle-free.

Tips for Doing Business Internationally
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Tips for Doing Business Internationally

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