Once, the idea of going international was a thought best left to big corporations. Technology has progressed to the point where someone can sell their crafted baubles or devices to people across the world. Your small medium business can do the same, if you know what to do.

1. Take Advantage of Global Marketplaces

While your website is an integral part of your marketing strategy, it likely doesn't carry enough weight to facilitate international expansion. Fortunately, you have options. Most countries have a local online marketplace that you can use to test the waters. Amazon and eBay, for example, have local presences in other countries that can help your small business expand.

2. Get to Networking

Starting in a new country is going to be a lot like when you first started your company. The market doesn't know you, the competition is fierce and well-entrenched, and you likely have few connections to the area. The last one is particularly destructive, as lack of connections will make it exponentially more difficult to get anything going.

Start solving the problem by developing new networks. If possible, take a business trip to a local convention and start talking up the room. Alternatively, you can approach important influencers and websites online and build a relationship with them.

3. Localize Your Business

One of the greatest mistakes a small business can make is to stick to their local currency and language. While the offering is fundamentally the same, how you offer it should change according to the market you're entering. The most basic way you can do this is to use the language and context of the local region, but of course it doesn't end there. Local regulations and policies for example, may need to be studied so you can determine what taxes, compliance and supports will apply and require to you or your customers.

4. Don't Forget Shipping Costs

The transaction doesn't end when you sell the product. It ends when you deliver it. When you were working your local scene, there was likely little distinction between the two. Either you sold it directly at your brick-and-mortar, or you shipped it at little cost to yourself or the customer. That changes when you go international.

You must, for example, offer multiple shipping options. Customers will have different budgets and needs, so you'll need to account for that. Sales can easily be lost because you don't offer something they can use. Return policies and how that can be done should also be accounted for in your strategy.

5. Aim Multiple Markets with Local or Regional Experts

Focusing on one market at the exclusion of all else seems efficient, but it's also very risky. Should that attempt fail or political changes make it unprofitable, you'll end up losing a lot. Instead of throwing everything at one country, penetrate multiple countries. While this may seem risky for a small business, it's something you can now do.

When you first founded your company, you didn't have the resources nor proof of concept you have now. There's no need to go all in. Test the waters in multiple markets and see which ones are most responsive. Then, focus on those markets.

Going international is a fantastic opportunity for your business. You grow the company and reach new markets that represent great value and revenue potential.

At Frontech Ventures, we strive to support our clients and strive growth in emerging Asia market.