To gain territory in the market is always great news for any company worldwide. This achievement is linked to two basic points regarding its brand: quality and credibility. To notice your brand getting increasingly more successful makes any entrepreneur want to tell the four winds that “got there”, “truly achieved”. It makes you want to embrace the world! And if you really want to embrace the world, maybe it’s time to turn your brand into international – the main theme of our event organised on June 5th.
Becoming an international brand: the Brazilian landscape
Having your own business is the third biggest dream of a Brazilian person, did you know? According to a survey conducted by SEBRAE, the professional goal of being the own driver of your business loses only to the dream of having own home and travelling.
This is demonstrated by entrepreneurship surveys conducted by the Global Entrepreneurship Monitor (GEM). According to GEM, in 2017, Brazil was the 10th country with the highest rate of entrepreneurs in the initial phase of activity (TEA). One in five Brazilians between the ages of 18 and 64 are betting on a new business of their own, with a TEA of 20.3. Chart below shows a comparison between the United States and United Kingdom.
GEM does not only analyzes new businesses globally. The entity also conducts research on so-called “established entrepreneurs”. The percentage is lower in Brazil, with 16.5% of the Brazilian active population in this role. Although smaller in percentage, it is interesting to note that, quantitatively, around five million Brazilians between the ages of 18 and 34 are among the established entrepreneurs.
This is the profile that usually looks for new challenges and seeks to take the next step. Once your brand is nationwide consolidated, it is natural to think about winning new lands. In order to do this, some natural steps are required.
The steps for a brand to become international
Prior to converting your brand into an international one, some points should be asked. The first question is: “Which country would I like to take my company to?”. This answer should take into account a number of other doubts such as “when” and “why”. The choice of the countries where an entrepreneur decides to take his brand depends on several strategic factors.
- Companies of the same branch (competitors) present in the new market;
- Comprehension of the local culture, especially on the chosen city;
- The habits and customs of your target audience in the market.
To know local organizations simplifies the adaptation of your international brand in many ways. Transforming your business by having many professional contacts right away helps. A lot! You probably will not want to offer the same exactly product as your competitor, who has been at that market for over 50 years. Originality is a very interesting trait when entering into a new market. It can be a huge differential. Comprehending the local culture also facilitates understanding what your target audience expects.
Need an example? Imagine yourself as a hamburger company owner. In Brazil, it is customary to offer forks and knives to the customer. In the United States, do not even dare to do that. To Americans, eating a burger with fork and knife is almost an offense. Tailoring your product to the local market will be a likely necessity to be more affordable. Do not think that is awkward, if that’s the case.
Another key aspect is to understand the local communication. Not only language – communication on a much broader level, such as what to say and what does not to address. In some Asian markets, for example, entrepreneurs do not have the habit of engaging Politics during corporate meetings nor using statistical data from US and/or European studies. Those are markets that favor more local angles and information.
Conclusion on your international brand
Study and do researches regarding the market where you want to take your business. Try to know every bit of it, whether historically, culturally or in terms of communication. Do research companies in the industry and get to know on the tip of your tongue what your competitors have to offer – and the main differentials of your organization. If this study has already been done and if your company has gone through all the steps, it may definitely be time to make your international brand. Come to our event and enjoy the best information with renowned executives, who will detail regions such as North America, Europe and Asia.