Anyone who runs a company knows very well that the success of an internationalization strategy is based on setting clear short- and medium-term goals
However, companies often set their goals hastily and imprecisely, simply applying an expected growth percentage across different markets.
This can lead to missed opportunities when the goal is too low for a high-potential market or to wasted resources in already saturated markets.
Don’t make this mistake!
Define specific goals for the most strategic markets for your business based on the potential of each market.
Only then will you be able to adopt the most appropriate strategy and monitor its progress effectively.
What do you need to do to set concrete and realistic goals?
The solution comes down to three key words: time, information, and method.
You need to make time to work on your goals—there’s no way around it. With my clients, I’m relentless on this point: until the goals by product and market are written down clearly, we don’t move forward.
Information and method refer to which data to gather and how to process it.
You don’t need to collect every piece of information you think might be useful—doing so would only fill pages and pages with data and cloud your judgment.
It’s better to identify ten key indicators (no more than that) and focus on them to collect and process the information you need.
To choose the right indicators, ask yourself this question for each one:
What is the potential impact of this indicator on my business?
The ten indicators you select will form the basis for setting your internationalization goals.
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