4 Of The Most Important Factors Of Entering Your Business Into New Markets
At RadiumOne, we've just taken a bold move and expanded into six new markets overseas — Denmark, Sweden, Finland, Norway, the Netherlands and Australia this quarter. This move follows our phenomenal growth in the UK, France and Canada building on our initial success in the US.
As you can imagine, opening up new markets is a complicated undertaking that requires a wide-ranging set of corporate skills. Here are four of the most important factors that you have to take into consideration.
The lifeblood of any good company revolves around its people. I've always believed in hiring the best and rewarding them accordingly.
Why would anyone want to accept second-best? You need top quality people to whom you can safely delegate. You want experienced, talented people who aren't afraid of hard work and share your passion.
Finding the right people means finding people who understand the culture of your company, people who share your vision, share your dream. It means finding people who will watch your back while you watch theirs.
You need folks who want to be part of a winning team no matter what. Internationally, of course, it also means finding people who understand the different cultures and customs of the respective countries we're entering but understand the dynamics of how to win.
It's essential to find the best partners — country by country. A good partner gives you instant validation. For instance, in Australia we have already established a key relationship with that country's largest publisher, NineMSN.
This lends immediate credibility to everything that RadiumOne does, making it easier to bring smaller enterprises into the fold.
Knowing how to keep in touch with all members of your team when you're operating in multiple time zones is no small feat.
You need to set up communications systems to make sure that everyone is on the same wavelength all of the time.
Operating under one roof in one city is easy; but when you're a company that never sleeps — it's an entirely different story. Communication from Headquarters to every office becomes the key to the success.
The world is shrinking, especially for RadiumOne. We are reaching into all corners of the planet as the power of the Internet and Mobile make the boundaries even more connected.
Worldwide success comes from working with the right people and partnerships. It's the DNA you inspire and the DNA that you create that explodes into something bigger than you'd ever dreamed possible.
It becomes positively infectious as it spreads across boundaries without your physical presence. That's the only way to win in a truly connected world.
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