Entrepreneur's Delight
A collection of write-ups from writers/authors willing to write on Entrepreneurship, Business, Corporate Leadership & Management.
How To Take A Technological Solution Global?
Commercialising and taking a technological solution to the international market is a feat not accomplished by many. While there are endless small and mid-sized corporations working tirelessly to produce innovative and expansive technological solutions, it’s a rarity to see a majority of them succeeding in marketing their product or solutions on a global scale.
However, while it may be a rarity, the possibility of expanding your business internationally is not completely unheard of. In fact, it is quite possible, but only if you possess the right knowledge.
Here’s how you can take your innovative technological solution to the global market.
The first step towards an international business or technological expansion is to research and identify a niche market that you can cater to. Instead of marketing a product that is already quite common and readily available at a global scale, consider finding a market that has the potential of growth in countries you wish to expand to. Study and compare different market analytics and research reports to help identify your targeted niche.
If you have developed a marketable technological solution that is quite successful and has great scope on a national standard, know that it will not necessarily translate to an international market in quite the same manner as your home ground. Something that is popular or has a consumer appeal at home might not necessarily be in demand in the audience you are looking to expand into.
Before you begin marketing your product, ensure that consumers actually exist in the foreign markets that you have set your eyes on. Do your research and due diligence before you invest valuable resources into an international expansion that may not yield anything in return.
One of the best ways of ensuring international success when you venture with a technological solution into the global market space is to utilize the services of professional global platforms for guided expansions. These platforms, much like the Carlton group in Toronto, present cloud and SaaS based opportunities for corporations worldwide to enhance and build their business engagement across the globe in a channelled, directed manner. Companies can take advantage of well-structured audience bases with fairly straight forward licensing processes to associate themselves with any of the company’s three platforms, in order to spread their technological solution to a globally expanded audience.
For beginners branching out within an international market, it’s important to not go in completely blind. As such, it’s recommended that you look towards expanding in a market that shares similar dynamics with your home country in one way or the other. While there is no guarantee that the business spectrum will be completely identical to yours, so much so that you may enjoy accurate projections and predictions, a certain degree of market match and compatibility will ensure a smoother transition into a new playing field.
Here’s how you can take your innovative technological solution to the global market.
Identify Your Niche Market
The first step towards an international business or technological expansion is to research and identify a niche market that you can cater to. Instead of marketing a product that is already quite common and readily available at a global scale, consider finding a market that has the potential of growth in countries you wish to expand to. Study and compare different market analytics and research reports to help identify your targeted niche. Ensure Consumer Demand in the Target Market
If you have developed a marketable technological solution that is quite successful and has great scope on a national standard, know that it will not necessarily translate to an international market in quite the same manner as your home ground. Something that is popular or has a consumer appeal at home might not necessarily be in demand in the audience you are looking to expand into.
Before you begin marketing your product, ensure that consumers actually exist in the foreign markets that you have set your eyes on. Do your research and due diligence before you invest valuable resources into an international expansion that may not yield anything in return.
Utilize Professional Platforms for Guided Expansion
One of the best ways of ensuring international success when you venture with a technological solution into the global market space is to utilize the services of professional global platforms for guided expansions. These platforms, much like the Carlton group in Toronto, present cloud and SaaS based opportunities for corporations worldwide to enhance and build their business engagement across the globe in a channelled, directed manner. Companies can take advantage of well-structured audience bases with fairly straight forward licensing processes to associate themselves with any of the company’s three platforms, in order to spread their technological solution to a globally expanded audience.
Join our community of Thought Leaders!
Ascertain Market Compatibility
For beginners branching out within an international market, it’s important to not go in completely blind. As such, it’s recommended that you look towards expanding in a market that shares similar dynamics with your home country in one way or the other. While there is no guarantee that the business spectrum will be completely identical to yours, so much so that you may enjoy accurate projections and predictions, a certain degree of market match and compatibility will ensure a smoother transition into a new playing field.
Copyrights © 2024 Inspiration Unlimited eMagazine
Any facts, figures or references stated here are made by the author & don't reflect the endorsement of iU at all times unless otherwise drafted by official staff at iU. This article was first published here on 8th August 2017.
Wish to simply drop a comment / share an inspiring story / chat with us:
