First, learn the market. Make sure that what you offer makes sense for the location you’re going into. I’ve seen people fail in growing globally because they jump into it without taking the time to learn the market. I’ve seen enough instances where it’s popular to go somewhere or someone has been told it would be a good business decision. “Oh, you really need to be here,” but they don’t do the research and the legwork to make sure it’s the right move for their company.
Also, build relationships. I’m a huge relationship person, so I’m a big fan of going on trade missions and connecting with people in a country. Ask your network who they know who can support you and can help connect you. You’re going to need resources, you’re going to need connections, and so you need people on the ground that can do that for you.
WPO is going through this right now. We are a US-based organization and don’t have entities in other countries. We currently hire consultants to run the programs for us. We’re looking at whether we are now at a size where we should start opening up entities on the ground in different countries. I’m taking it slow, talking to lawyers and accountants, making sure that it makes sense for the organization. Entrepreneurs are risky by nature and want to dive right in. Sometimes they move faster than they should.