Expanding business overseas is important. If you are a small EDA vendor, going global before you are ready can be suicidal. Here are some signals that can help you decide you if you are ready to go global.
Have you been successful at home?
Local success is a prerequisite to going global. Foreign buyers may not know your company and will look at your previous success and local references. It is difficult enough to adapt success to new geographies, languages and cultures.
Knowing what works at home and adapting it to new markets is the best approach. Going to a new market without strong success in your own backyard is usually a bad idea.
Are you being approached by local representatives who want to sell your product in their markets?
This could be a sign that there is demand for your product in new foreign markets. You will notice local firms asking questions about your product, visiting your website or requesting information. The local experts may have uncovered trends or market changes that will open up new opportunities for you.
