Setting goals for internationalisation starts with identifying customer needs. Success in the markets requires financial investments, expertise and experience regarding international operations, as well as product development In addition to this, an established position and operations in the domestic market will improve your chances of succeeding in international markets.
Internationalisation requires developing solutions for the target markets to meet customers or distribution channel needs that deviate from those of the domestic market. It is also important to note the requirements of local legislation and customs regulations, in addition to being prepared for copyright and product liability questions.
Before any actual internationalisation measures, it is important to identify the company’s opportunities in the new market area, and readiness to conduct profitable business abroad.
The following are fundamental questions in the planning of internationalisation:
Does the company have sufficient readiness for internationalisation?
What need do the company’s products fill?
In what markets are customers ready to pay for the company’s products?
Are the company’s business model and product competitive in these markets?
Which method of entering the market suits the company’s business?
It is advisable to draw up a separate internationalisation plan, as it will have an effect on obtaining funding. When creating the plan, you should utilise the support of experts and networks.
Internationalisation test (If you would like to continue with the analysis later on, create a workspace to My Enterprise Finland and conduct the analysis there.)
Internationalisation plan (My Enterprise Finland, log in with your personal bank access codes or mobile certificate)