It’s a big step if you have decided to expand your products to international markets. If you’ve found success in the local market, nothing is stopping you from going beyond borders and capturing foreign clients. With the low cost of internet and communication, it is easier to connect with them as the world has become one global village. However, it may not be easy with the various differences you will face. So here are some important factors you need to keep in mind when dealing with them.
- Pay attention to time zones
You simply can’t pick up the phone and call someone in New York if they have a considerable time gap. It might be day for you but he might be in a sound sleep and a phone call in the middle of the night is not going to make him very happy. So always have your clients’ times saved on your phone or check online before you ring them up. Communicate through emails or text however if it is a matter that requires a phone call, choose a time that is convenient for him, even if you have to stay up till late.
- Work out a payment plan
International money transfers can become very expensive due to various bank charges and processing fees. Come up with a standard policy on receiving your money such as PayPal or wire transfers. It is wise for you to open a foreign currency bank account locally so that the amount won’t be subject to conversion changes or fees with regard to it. Clearly mention to your client the currency you want to be paid in, if not they might pay in their own local currency. It is better to use a globally transacted currency such as US dollars. The conversion rates should be specified beforehand, or you can go for market currency rates. These need to be decided very carefully so make sure you understand all clauses in the contracts. Use certified translation services Brisbane and clear all doubts and then go ahead.
- Look out for legal issues
The standard contracts you use with local clients will not work in other countries, hence you need to contact a lawyer and draft contracts as per foreign law. Be sure to read every clause before you sign any contract so that you’ll be legally protected during anything. Go for document translation if necessary so that you have a clear idea of what you are getting into.
- Cultural differences
Before you expand to foreign nations, you need to do some research on their values, customs and etiquette. For example, if you sell meat products, you cannot sell beef in some parts of India as the cow is a sacred animal.