Brainiact: Expanding your business internationally

The interesting thing about the United States (the market I specialise in) is that we feel we know the US well because we see so much of their TV, movies, and media. We think we understand the market, the language, and the culture. It’s like Australia, right? Just with a different accent.

But when I moved to New York in 2007, I quickly realised how different it really was. The business language, especially in written contracts, was very different. Assuming you can just pick up your Australian business and move it to the US, or any other country, is completely wrong. But don’t worry! There are ways to succeed.

I’ve spent over 20 years helping top executives and companies create strategies to expand globally. In this article, I’ll share tips and strategies to help you successfully grow your business in new markets.

Adapt your leadership skills for global expansion

If you decide to scale globally, one of the most significant shifts you must make is how you lead. Over the years, I’ve seen that the skills needed to start and run a business at home are different from those needed for international expansion.

When starting your entrepreneurial journey, you need to be quick, creative, and hands-on with everything. You have to know your customers well, get funding fast, and be ready to change direction quickly. These skills are needed to your business off the ground, gain those first customers, and secure initial capital. But as your business grows and you start looking at international markets, your role as a leader must change.

You need to look at the type of leader you are and adjust your style to handle a bigger, more complex business. This means accepting that you can’t do everything yourself. You need to decide who in your business you can delegate tasks to. And, as I often say, at the core of delegation is trust. You need people in your business you can trust to get the job done so you can focus on the important things. Trust is a must. Putting that delegation model in place is crucial when you’re thinking about scaling.

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Trena Blair is an expert in helping Australian businesses expand into the U.S. She founded FD Global Connections, which advises Australian and U.S. companies on entering each other’s markets.