Thinking about conquering new markets and strengthening at a global level, many companies seek to expand their business abroad. According to information released by the Dom Cabral Foundation (FDC), 64,4% of Brazilian companies plan to expand their presence in countries where they already operate. Furthermore, 68,9% show interest in exploring new opportunities in locations that do not yet have operations. After all, the internationalization of the business is much more than a way to diversify revenue, also being an option to enhance relevance and competitiveness, positioning the brand as a strategic player in its operating segment.
For Tiago Monteiro, entrepreneur who founded LUZA Group in the interior of Portugal and is now about to reach seven countries, success in this journey depends on a strategic vision. Understanding the right moment to internationalize is what will dictate the success of the expansion. Here, it is essential to assess factors such as business maturity, particularities of the target market, besides the product or service's adaptability and financial structure for that, explain the founder and Global CEO of the multinational that connects Engineering and Technology talents to the challenges of its clients.
Thinking about encouraging entrepreneurs who want to invest in the international market, the executive listed the main tips, check below
Study
Before taking any step, it is essential to assess the sector you intend to enter, what includes from identifying the demand for your product or service to understanding the local culture and assessing the competition. Research how your business can adapt to the reality of the target market. This avoids surprises and helps align expectations with real opportunities, guides the specialist
Adapt the offer
Not everything that works locally will have the same appeal in another country. Adjustments to the packaging, payment method or even in communication may be necessary. "Internationalizing is more than just translating your product". It is necessary to understand what attracts the audience of the new market and shape your offer based on that, explain Monteiro.
Seek help
Connect with local partners, as distributors, suppliers or commercial agents, can facilitate access to the market and adaptation to the business environment. Having local allies is like having a shortcut to understand how the market works. They help to overcome cultural and logistical barriers, highlights the global CEO
Get organized
Internationalization requires resources for initial costs, operational adjustments and even for unforeseen events. Financial planning is essential to prevent expansion from compromising the company's cash flow. Have a clear view of the necessary investments and create a plan that balances expenses with the expected profitability. Thus, you will have more security to grow, score the executive
