Why Our Unique Approach to Internationalization Works
How can you be so sure your approach to globalization is the right one?
One question you might ask yourself is if you’ve asked the right questions. Pun intended.
What questions are we talking about?
Choosing a new market is not the same as choosing a vacation destination
We know internationalization is a daunting and complex process in the post-COVID world. At Factum Global, we pride ourselves on simplifying the process of our global consulting. One way we do this is by using our Factum-A framework to evaluate your organization’s goals for going global and then help you accomplish them.
Often, we have businesses come to us for help expanding to one country or another. Recently, a CEO came to us for help opening an office in Italy. We listened to his request and then asked he and his team a series of questions to better understand if Italy was in fact the right market to enter for that business.
Who doesn’t love Italy? The food. The people. The culture. Magnifico! But, are those the right reasons to expand your business there? No, of course not. So, we invited this executive and his team to sit down and elaborate more about what the organization was seeking to accomplish by expanding into a new market. We worked with them to F-rame the situation and A-nalyze the current state of the organization, while C-ontemplating future possibilities. This included a discussion about other European (and non-European) market options to consider in addition to Italy.
Next, we T-ested potential “winning strategies” by analyzing a variety of scenarios, reviewing local benefits and potential obstacles. In the end, we recommended another European market that allowed for a smoother and more cost-effective expansion for our client, due to more favorable labor wages, lower language barriers, more favorable tax conditions and a slew of other factors.
We then worked with the CEO and his team to U-nite around the strategy we developed to expand into the new market, which made the process easier because we provided them with hardcore data and statistics to support it. We are now in the process of helping this client M-ove towards executing their strategy. Finally, once the client has successfully integrated into the new market, we stand at the ready to A-dapt their strategy, as needed, while we monitor and measure overall effectiveness. F-A-C-T-U-M-A. Simplifying the process by using our framework model helped relax our client and gave them the reassurance any executive looks for in having to make such a big decision for their company.
It’s a lot harder to reverse a strategy than to make the right decision from the start
Reversing an internationalization strategy is even more complex than expanding with the right strategy. Not to mention, a waste of resources. So, as you accompany us through the Factum-A journey, you truly become fully aware of the entire market challenges and opportunities landscape.
We begin by validating your assumptions or helping you course correct. We do this so you are comfortable and confident in the direction you’re heading. And then we go from there.
In the end, we ensure flexibility in your plan and “adapt” or fine-tune it as needed.
Conclusion
Don’t go at it alone. We take the guesswork out of going global and global consulting.
So, instead of “going with your gut,” call us before you embark on opening that office in Rome or Florence and we’ll guide you through our strategic framework and provide you with the data you need to develop your roadmap for global expansion success. It will save you time, money, frustration, and a lot of lost sleep.
We know. It’s not easy, but we can help. We’ve done it for companies like yours and so many others.
The Factum-A Framework is copywritten by Factum Global, 2021.
We take the guess work out of developing your strategy to go global with Factum-A and the International Maturity Model. Contact us today and schedule a free consultation.
