Is your business missing the opportunities in the international markets? Are you struggling with where to start your international expansion and how to go about it?
International Business Plan outlines corporate goals and steps towards foreign markets entry. It is also called the Export Business Plan. At Win Global, we apply a 3-step approach to your international expansion.
Step 1: Building a Solid Foundation for International Business Plan
During this phase we determine the readiness of your business to the international expansion and help you to build four pillars of the successful international expansion:
- Selection of the product, service or solution to expand internationally
- Defining global value proposition for the selected product, service or solution
- Profiling ideal buyers or distributors of the product, service or solution
- Target market selection
Step 2: Analytical Phase of International Business Plan
This is a very important stage of the preparatory period for entering the international markets. It summarizes all the information collected from foreign market research and risk assessment. Based on obtained information a company checks the feasibility of continuing international business planning and makes a first go-or-not-to-go decision.
Step 3: Planning Phase of International Business Plan
This is the final stage when we put together a foreign market entry plan for our clients and consider all steps that must be taken in order to succeed in international business. The typical content of International Business Plan is:
- Executive Summary of International Business Plan
- Corporate Global Vision and Goals
- Four Pillars of the International Business Expansion
- Foreign Market Research Summary
- Risk Assessment
- International Business Strategy
At this stage, we identify the best strategy that will help our client to enter each particular foreign market of interest. The examples of international business strategies are exporting, licensing (franchising), joint venture, foreign direct investments, etc.
- International Marketing Plan
This section is based on the 13Ps framework and contains requirements in the following areas. Requirements depend on foreign market research, risk assessment and a selected international business strategy.
- Product /Service Adaptation Requirements;
- Production Process Modification Requirements;
- Compliance Requirements;
- Packaging and Labeling Requirements;
- Translation Requirements.
- Pricing Strategy;
- Currency Requirements;
- Tax and Customs Duties Considerations.
- Target Audience;
- Marketing Channel and Activities.
- Target Countries;
- Shipping Mode;
- Shipping Requirements.
- Payment Method;
- Foreign Currencies Fluctuation Risk Hedging;
- Cash Flow Instruments to Make Sure It Is Positive.
- Personnel Plan;
- Compensation Requirements;
- Motivation System;
- Training Requirements;
- Hiring Process and Job Requirements.
- International Business Plan. Action Plan;
- Short-term and Long-term Marketing Plan;
- Promotional and Sales Materials;
- Production Plan;
- Technology Support.
- Brand Values;
- PR and Communication Plans
- Government Registration as Importer or Exporter in Your Country;
- Government Registration in the Countries of Destination, If Required;
- Requirements to International Trade Contract;
- Customs and Transport Documents Requirements.
- Local Business Practices and Professional Ethics;
- Business Practices and Culture of Your Home Country.
- Requirements to Foreign Partners and/or Distributors;
- Industrial, Government and International Institutions Providing Assistance in International Business;
- Financial Institutions in Your Home Country and Target Countries Providing Assistance in International Business;
- Private Institutions in Your Home Country and Target Countries Providing Assistance in International Business.
- Human Resources Policy;
- Manufacturing Policy;
- Environmental Policy;
- Technology Policy;
- Distribution Policy;
- Warranty and After Sales Service Policy;
- Return Policy;
- Patent or Trade Secret.
- International Business Action Plan
Based on an International Marketing Plan and the project approach International Business Action Plan contains activities, milestones, estimations, resources, performance measurement and evaluation criteria.
- Cost and Benefit Estimate.
Contact us now to schedule a free and no-obligation discussion about your issues in international expansion and determine if we can help you. Fill out the contact form now.