The CEO Magazine: The Mistakes To Avoid When Scaling Globally

Not only does it take grit, determination and a healthy dose of courage, an in-depth understanding of the risks and the intricacies of the landscape you’re launching into is imperative. In a race where only the best-prepared survive, getting it wrong could cost you millions, impact your reputation negatively and put your core business at serious risk.

There are many lessons to be learned when scaling a business globally, and often businesses and their leaders have to learn them the hard way, unfortunately.

Not only does it take grit, determination and a healthy dose of courage, an in-depth understanding of the risks and the intricacies of the landscape you’re launching into is imperative.

I was passionate about writing my new book, Decoding Global Growth, in a way that provides true-to-life examples of some of the mistakes made, and gives my expert advice on how organizations can avoid similar mishaps on their expansion journey. I also delved into many complex factors that influence the right outcome in the global marketplace, and advice on how business leaders of any organisational size, can apply these practically.

“Essentially I wanted Decoding Global Growth to be a handbook – whether the reader is a start-up entrepreneur or a seasoned CEO  – who wants to ensure their business scales successfully, that they do this in the most efficient way possible to save on time and money, and turn their vision into a reality.”   

Trena shares 4 of the most common mistakes business leaders make when attempting to scale globally, and how to avoid these:

1. Assuming their business success can simply be duplicated in a foreign market

Companies need to conduct in-depth research on the local practices, values and cultural nuances of the target country, and not assume that everything in their own market will easily translate.

2. Lacking confidence in their team, and not having the capacity to delegate

It is imperative for leaders to cultivate trust within their teams by mastering the art of delegation.

3. Not fully understanding the business and all of its functions

Leaders need to be aware and have deep knowledge of all functions of their business, from employees to the product or service they are providing their customers.

4. Trying to scale too soon

Premature scaling is considered one of the most common signs of imminent doom for a startup. Trena has developed her own ‘Global Scalability Audit’, to help leaders decipher whether they are ready to grow.

Read more HERE.