The Internet has eliminated almost every barrier to entry to international markets and has given merchants/retailers the ability to distribute their product/service worldwide with relative ease. The opportunity to do business internationally has been around for centuries, but is everyone taking advantage of the partnerships they can create around the globe today?
No way.
The Internet opened the door yet some businesses still haven’t taken the international leap. This leaves a large slice of the pie for those willing to step up. Looks delicious, right?
Creating international partnerships can take a little more time than you’re used to, and to some this can be discouraging. Those willing to take the time and follow a few key strategies will be rewarded with global reach, new business, and better growth. Here are a few International Partnership Development strategies that I have found extremely successful:
6 Key Strategies to Develop Amazing International Partnerships
#1 – Timely and Respectful: Timely communication stands out as the most important. Are you always emailing a potential partner at 2am their time? Be cautious and considerate of the time zone in which these partners may live. For example, if they asked for more information on your company/opportunity, try to send it over at a time they may actually be working. Whether that means typing up a draft and sending it later in the evening or using an email tool that allows you to schedule your email to be sent at a later time, think about them and where they are. Be respectful of their time, you are more likely to hear back from them if you are reaching them during their business hours not yours.
#2 – Respect communication preferences: The second key point I try to remember goes along with the first. Be aware of the preferred method of communication for each market. While (for me) email has always been the preferred method with US partners, it only took about 3 emails to a particular international-market for me to realize that face to face was the way to go and a phone call was worth a thousand emails. Email may not close the deal. Chances are, you don’t have an employee in the country where the potential partner is located, which leaves you with one option – a phone call. While you can schedule emails to be sent while you’re sleeping, you obviously cannot do that with a phone call. If you want your potential partner to feel valued (which you do!) you are going to need to be willing to take a call in the wee hours of the night or before the sun comes up (much easier if you remember to also schedule your coffee pot to start brewing right before these calls 😉
#3 – Know your country: It’s also very important to do your research and become familiar with the laws and cultures of other countries. It can be as simple as what type of shipping guidelines you need to follow but without a doubt, there will be different business regulations you need to be aware of. Be prepared before you find yourself in over your head, or worse, in legal trouble because you didn’t want to spend the time doing the research.
#4 – Avoid slang: Don’t use acronyms and/or slang that may be familiar to you. Most likely these abbreviations will not make sense to someone who doesn’t reside in your country and most likely doesn’t have the same first language as you. This means no ‘u’, ‘bc’, ‘ty’, ‘imho’, ‘yo man I’m diggin’ that fresh content you dished out…’.
#5 – Language Matters: Don’t expect everyone to speak your language. If you want the partnership, you’re going to be the one to work for it. If you don’t have a coworker who speaks the language, that may mean it’s time for you to pick up a new hobby in Rosetta Stone. Like I said before, developing partnerships in a new country takes time.
#6 – BE PATIENT: Maybe you’re used to closing deals and putting action plans into place within a week. Not everyone chooses to move at that pace, so prepare yourself! Also, you may be used to not having to explain what it is your company does because you’ve branded yourselves so well in your country – that does not mean your brand has carried itself internationally on its own – it may be up to you to create brand awareness as you enter these country-markets. The point is be patient and follow-up.