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Preparing Your Business for a Global Market

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What does it mean to operate in a global market? Economists say it happens when a company buys or sells goods and services in different countries of the world. Experts estimate that emerging markets offer over $30 trillion in sales potential, so it makes sense that companies have their eyes on business opportunities outside the U.S.. With advances in technology, competing globally has never been easier – at least on paper, anyway.

There’s a difference between offering your product to an international audience and actually having a meaningful presence in another country. That’s where the necessity of language training for the global market comes in. The expression “Think globally, act locally” rings true. Your company’s ability to compete globally starts with its effectiveness right here at home.

Is Your Team Poised for a Global Market?

If your long-term business plan includes doing business in South America, for example, the time to start preparing your team is now. Language training isn’t as daunting as it sounds, and it’s a good first step in helping your team prepare for new markets.

Effective language training isn’t about complete proficiency. Here are some ideas to get you started:

  • Find out what your team already knows. You may have employees who already have some of the language skills you need. If you don’t, think about how language skills should factor into your training and hiring plans.
  • Focus on industry-specific language training. Don’t worry about verb conjugation and total fluency. Start with learning terms that are specific to your industry.
  • Bring in an expert. Train your staff on not just the language of your target market, but its culture, too. The more you and your team understands about what motivates native people, the more targeted your marketing can be.