The Real thing about a business conquering the international market

Venturing the international markets bring a lot of risks, however, it also brings
numerous opportunities and other positive impacts that outweighs the cons.From the
video, I become more convinced that going internationally is a good way for
expansion.With that, the first thing I learned is that ”international markets is an
exciting prospects” from this phrase I was able to realized that going internationally
promotes diversification of employees, thus helps in contributing diverse and unique
ideas for the business’ benefit. Furthermore, the product or services that they offer may
help the customers from around the world which leads them to improve their reputation.
Moreover, the financial revenues of the business may be improved once they start to
market their products or services globally.Second thing that I learned is about how
businesses start to market globally. I learned that it is important to identify first the
target market in each area and determine how the business can reach them. Initially, I
thought that identifying the target market is not necessary when going internationally
because I think that the people or customers themselves will be the ones who will know
the company. Along with that, since building customer relationships is important it is
essential for the company to be able to convey their message to their target market
what their product offering is, and this should be done or presented in the language their
customers understand. With that the business must not solely rely on online generated
translations as this could alter the meaning of the message they wish to convey, rather
they must hire a local that can speak and translate the language. Next, is to be able to
set the infrastructure and system that is needed to help the business in expanding. It is
necessary for a business to not skip this step since doing this can make their work
easier and promotes efficiency which is very much needed especially when they start to
venture globally. The last step is establishing e-commerce and payment solutions,
which is important especially if the main headquarter of the company is in another
country. In addition, it will promote smoother and quicker financial related transactions.
The third thing I learned is “Mapping out the plan in advance” as this could help in the
success of the company. Forecasting the future challenges and trends will be a great
doing as this prepares the business for what the future holds, so when the worst case
arises, they will not be shocked since they already have an idea on how to solve the
problem, they would just have to execute their plan and assess if it is effective. All in all,
I realized that going internationally is not something to be afraid of and being a risk taker
is a great thing. However, it is important that when considering venturing into the
international market, being prepared, tough, and thinking in advance is necessary. With
that, the general knowledge that I can apply in the future is being prepared and
establishing a habit of thinking in advance. I think with these two I will be able to survive
and later achieve success once I start to venture my career in other countries.