10 startup tips for running an international business

Thanks to the internet, starting your own business is easier than ever. You don’t need to open hundreds of stores at once to make a name for yourself - learn from the big companies and establish a solid web presence so you can reach any potential customer out there.

Take a quick look at ten things you should start with...

Do your homework:

Before starting the business you want to make sure there is breathing space in that sector. Find out what other companies offer and think about how you can improve on them. Don’t be just another name out there, aim high and focus all your energy in that direction.

Have savings:

Although running an internet based business is cheaper than running an on-the-ground business, you still need to have some money saved up for those rainy days. Getting a small loan or having a business partner to split costs with you can be exactly what you need when that first client hasn’t showed up yet.

Work from home:

Working from home can reduce a lot of costs when starting your business. By not paying rent, utilities and other things that an office needs, you save the money for equipment, wages and hiring professionals to create a website. The next thing you need to do is get your staff working from home - don’t hire people just because they live near you, find the best person for the job, wherever they may be in the world. This also helps your business with a few other things: lower costs all around, flexible working hours and flexible payment structure.

Take advantage of Online Marketing:

The first thing you need to do is build a good website. Think about hiring a professional since your website will be the first thing clients see when deciding whether to buy a product or not. The key to attracting customers is to make sure they know about you, so ranking high in the search engines is a must.

Online Marketing is a lot cheaper than having to pay for newspaper, TV or radio ads - and Search Engine Optimisation (SEO) is the best way to get visitors to your website. You can do organic SEO without spending a cent - the internet has a lot of information on how to do it yourself - or use Pay Per Click Advertising (PPC) for a nominal amount of money to see your website on the first page of Google.

Say NO to phone bills:

Why pay a fortune on expensive international calls? Save the money for something else you need. Take advantage of the internet and use Voice Over IP services like Skype to communicate with clients and staff.

Skip the bank:

Transferring money internationally is quite expensive if you’re using a bank and you want to save as much as possible when starting out. Use online services like PayPal and Moneybookers.com since they are a lot cheaper.

Expand to other markets:

Why sell your product just in your area? Go hunting online for a country that could be your ‘El Dorado’. Localisation is the key element here: identify which countries could benefit the most from your product, and then build specific websites for them using in country domain names (.fr, .de, .es), just like Coca-Cola did. Anyone can tell you people prefer to buy stuff in their own language, so don’t miss out on your slice of the pie.

Use professional help :

Don’t like math and you’re afraid of doing your own finances? No problem! Get an accountant to help you out. There’s nothing more important that controlling your budget and having someone who does this for a living is a good investment. Similarly, if you’re deciding to expand to a foreign market and you want to translate your website, don’t rely on machine translation or a bilingual friend - hire a professional translator.

Have ‘virtual’ meetings:

If you plan to have a business meeting with a client and your business is home based, don’t panic! You don’t need to buy an office or rent one for a long period of time, just use a virtual office, a place where you can hold a meeting for a few hours and not have to worry about spending a fortune on rent and utilities. You can use your virtual office as a mailing address by having a receptionist to let you know of anything you receive. Virtual offices look like traditional high-cost offices but require a lot less money.

Even better, why pay a lot of money for your staff to come to a meeting? You can chat with your clients or staff on the internet. Need to show them a presentation? No problem, most of the online meeting providers offer the facility to share documents and view Power Point presentations.

Be professional:

Even though you and your staff will be working from home, be professional! When deciding on a new project or plan to present to a new client, ask yourself if it can be done. Better to start and expand slowly than to let your clients down.

With these ten tips in mind you can now tackle the business sector of your choice. Don’t worry about the recession and the problems you may be faced with, as long as you have a good business idea things will work out.

About the author
Christian Arno is the founder and Managing Director of global translation service provider Lingo24.