Thinking about conquering new markets and strengthening globally, many companies seek to expand their business abroad. According to information released by Fundação Dom Cabral (FDC), 64.4% of Brazilian companies plan to expand their presence in countries where they already operate. Additionally, 68.9% show interest in exploring new opportunities in locations where they do not yet have operations. After all, the internationalization of the enterprise is much more than a way to diversify revenue, but also an option to increase relevance and competitiveness, positioning the brand as a strategic player in its operating segment.
For Tiago Monteiro, an entrepreneur who founded LUZA Group in the interior of Portugal and is about to reach seven countries, success in this journey depends on a strategic vision. ‘Understanding the right moment to internationalize will dictate the success of the expansion. It is essential to evaluate factors such as business maturity, market-specific characteristics, product or service adaptation capability, and financial structure for it,’ explains the founder and Global CEO of the multinational that connects Engineering and Technology talents to its clients’ challenges.
Thinking about encouraging entrepreneurs who want to invest in the international market, the executive listed the main tips, check below:
Study
Before taking any step, it is essential to assess the sector you intend to enter, which includes identifying demand for your product or service, understanding local culture, and evaluating the competition. ‘Research how your business can adapt to the reality of the target market. This prevents surprises and helps align expectations with real opportunities,’ guides the specialist.
Adapt the offering
Not everything that works locally will have the same appeal in another country. Adjustments to packaging, payment method, or even communication may be necessary. ‘Internationalizing is more than just translating your product. It is necessary to understand what attracts the audience in the new market and shape your offer based on that,’ explains Monteiro.
Seek help
Connecting with local partners, such as distributors, suppliers, or commercial agents, can facilitate market access and adaptation to the business environment. ‘Having local allies is like having a shortcut to understand how the market operates. They help overcome cultural and logistical barriers,’ highlights the global CEO.
Structure yourself
Internationalization requires resources for initial costs, operational adjustments, and even unforeseen circumstances. Financial planning is essential to prevent the expansion from compromising the company’s cash flow. ‘Have a clear view of the necessary investments and create a plan that balances expenses with expected profitability. This way, you will have more security to grow,’ points out the executive.
