How long gone are the days when you could live fifteen kilometers from the ocean without ever seeing it in your life …! Today, the field of action of the human being encounters less and less obstacles. From a virtual point of view, it is global and almost infinite thanks to new technologies …
And even in physical displacement, all means are there to make Europe the new “village” of French economic players. Geographic proximity, historic partnerships, common market, integrated monetary system and continental customs union require: Europe is the first step in the international development of a company born in England.
This first step, a little high, is far from insurmountable. The right thoughts and the information that is going well will put the odds on his side. So here are some tips to help you in your quest for rapid internationalization!
Have all the cards in hand!
We often say “Money is the sinews of war”. While this is true, it should not be forgotten the importance ofinformation. The Rothschilds are often credited with having garnered part of their fortune thanks to information obtained in preview and expertly exploited. And it would be difficult to blame them. In another area, the States themselves endeavor to know everything before the others about this or that situation, on their territory as well as abroad.
Conquering a new market also requires accurate information to be able to succeed. There as elsewhere, the scoop is generally the small more that makes the difference compared to competitors : it’s good to have the right business idea, but you still have to develop it quickly (although never at the expense of quality) so that it won’t be taken over or confiscated in the meantime by newcomers!
Gold, the best way to avoid this threat of “short circuit” is to opt for permanent expansion, according to the saying: “Who does not move backward”. And you are therefore quite right to launch an assault on Europe …
On paper, the path seems clear and success almost guaranteed. Single currency with important partners, neighbors moreover; capitalist market economy and free trade with no insurmountable barriers (on the contrary!), etc. It’s perfectly true, Europe offers a range of opportunities, but it would be a serious mistake to think:
- Whether we can consider going to Germany or Italy (these are just examples!) As we did in England;
- That we are right to adopt the same implementation strategy in each of the targeted European countries.
VSach linguistic area – depending on its economic, political and cultural specificities – should be considered independently of the others. Which doesn’t mean you have to be interested in a country after the other ! This is a matter of available human and financial resources, but also of risk-taking management. We can start everywhere at the same time, or in such a regional area :
- German-speaking for example, to reach Germany, Liechtenstein and Austria, but also some minorities in Switzerland and other countries of central Europe.
- In the economies deemed most profitable immediately, again, by industry
Let’s say it’s good to have a strategy mainland for main lines (to be present in so from country to Phone horizon reach such economic growth or turnover, conquer Europe in this or that order, etc.), but to develop tactics differentiated for each market.
The euro will naturally direct you to our main neighbors, but today’s Italy must be considered for itself, just as the economic culture in Spain is in most areas very different from what we can experience. in Germany. And the list of these peculiarities, not to say particularities, could be long…!
Money is still important …
Okay, well, we can concede it: money is the sinews of war. Without him, we cannot pay any employee or buy any service, which would be very annoying …
Developing in Europe requires a solid presence in England, under penalty of taking significant risks by skipping the stages. However, a company that has a hard time finding a place in England will generally find it difficult to penetrate elsewhere, if only because its product may not be perfect.
The Europeanization of a business can therefore theoretically be done with equity. Profits recorded in England are then reinvested in the conquest of market shares abroad. This may seem prudent and a good way to test its European potential, but the downsides are real and numerous.
- The resources freed up are generally too small to envisage large-scale expansion plans.
- Set foot abroad without taking “the big ways”. The risk: negatively impacting the brand image in the target markets. And maybe even more in B2B.
- The benefits invested abroad are not in England (R&D, Quality or commercial service). This can make it easier for competitors to come back.
- French profits can cease to exist overnight: for x or there reason (bad economic conditions for example, natural disaster, etc.). And we will let you complete this non-exhaustive list by yourself…
Consequently, the transition from a national dimension to an international scale more often involves finding investors. Depending on the form of the business and its potential, this may involve contracting bank loans; or by a fundraiser.
Example: the business angels will thus be able to help conquer this or that foreign market. If successful, a second round may take place to conquer the entire continent. Then thread by needle a third for the whole world. Things can go very quickly, with real leverage. Experimenting with it will make you better understand the “quickly” of our title!
It seems difficult not to go there. Generally, not wanting to submit to the contributions of investors – or failing to find any investor – means that the development in Europe envisaged seems to be only a pipe dream, a disproportionate dream (to put it mildly …).
Besides, any fundraising supposes the presentation of a solid and precise “dossier”, in due form. Nothing is left to chance (the least things in any case!). Strategies and tactics must be written in black and white, the financial perspectives faced with realism and insight. It’s long and tedious work, but oh so useful. Thereafter, you will never regret not having had the weakness to skimp on the details or the accuracy during this stage!
Know how to surround yourself!
The notion of network has always been essential for individuals in the economic sphere. The entrepreneur is the one who has the good idea at the start and the nerve to put it into practice, but also the good boss who knows how to surround himself. No man can be everywhere at the same time: delegation, specialization and the distribution of tasks have proved necessary in successful companies. For the decision-maker, it’s also ideal for having a free mind enough to make the right decisions, with height!
So far, we’ve seen thatrapid development in Europe requires the right skills in all areas : finance, management, marketing, law, languages … We will have to make the share of long-term internal jobs, which will remain necessary on foreign markets, occasional external collaborations (translation of existing media for example) and useful external service providers, either during setting up on a market (legal advice on procedures, etc.), either throughout the economic activity planned abroad – or both!
It will first be necessary to refine your product for the target market. Should it be kept as it is or should it be adapted to local consumers? If yes, in what way and in what proportions? Which pricing policy to practice? Answers can only be given on a case-by-case basis. They have a close correlation with the profitability of the operation, while potentially modifying the way of considering marketing locally.
After having questioned your product, you should make it known throughout Europe. It’s even essential. In this area, we will have to invest in a good marketing and communication budget.
Local referencing abroad will be of crucial importance. This must go through all available means:
- Publicity display (but it is more and more often blocked);
- “Rental” of files to send advertising newsletters;
- Native advertising, particularly in the form of sponsored articles powered via the European platform getfluence.com.
The latter have the advantage of improving web positioning thanks to the presence of one or more links, while falling under influence marketing thanks to the contribution of quality information (generally relayed and / or shared on social networks) to a real and relevant readership. It is still necessary just aiming for the right channels, hence the advantage of going through qualified intermediaries to meet the challenge.
Going abroad takes time and significant resources. This is a significant effort for a company, which should therefore be thought through and made profitable. A necessary stage in the life of any booming society, it is one of those critical moments where the aborted dreams of failed start-ups on the one hand and the success stories of tomorrow are sorted out. the other. But be aware that nothing gets snapped with your fingers. There are (almost) always several months between entering a market and earning the first profits. So stay calm and keep calm, even if you surround yourself with new experts such as getfluence.com to accompany you!
Article written in collaboration with getfluence.com