International Business Expansion Checklist
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Launching or expanding your business internationally doesn't happen overnight - it's the result of careful planning and strategic market analysis. White Space have created this International Business Expansion Checklist to help businesses successfully launch and manage a business expansion overseas.
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International Business Expansion Checklist
- 2. 2 There are two overall key questions to address when planning for international expansion… Should we enter? How should we enter? What’s the market size? Is the market profitable? Can we develop sustainable competitive advantage? Who/ where do we target? What proposition do we offer? What entry model do we use? If the answer to any of these three questions is no, you should strongly consider not entering Answers to these questions can be found by analysing your existing capability as well as customer needs, competitor positioning and partner capability. Primary customer and competitor research may be useful International Expansion Checklist: Answers to these questions can be found by analysing market reports, by conducting customer and competitor research and through fact-finding missions
- 3. 3 Checklist: Should we enter?… International Expansion Checklist: 1 Market size: is there sufficient customer need? 2 Costs vs. profits: what will expansion cost? Is the market profitable? 3 Competitive advantage: are competitors ‘beatable’? 4 Legal barriers: does legislation hinder us? 5 Company fit: will expansion fit with or undermine our existing business?
- 4. 4 Checklist: How should we enter? International Expansion Checklist: 1 2 3 4 5 Target market: what customers groups do we target? Proposition: what product/ service do we offer? How do we position it? Pricing: do we want to price differently to our home market? Entry model: what entry model do we use? Direct, JV, franchise or agent? Infrastructure: do we need new office locations, staff and suppliers?
- 5. 5 White Space are market analysis experts, supporting our clients’ investment decisions on an international scale … About White Space: Have a key existing market which is struggling? Want to optimise your customer facing processes? Thinking about launching new products or services? Thinking about expanding into new categories, sectors or countries? Want to increase revenues in an existing market? Investment Decision Making Are you maximising revenues in your core market?