The “Proudly Reinventing the Wheel” Blog Series

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PRW Series–i.e., Per the 61 Days of Hope Series;

Day 17 (Part II-B): Post 1

Topic: How to Implement Your Company/Organization’s Overseas’ Expansion

Important Note / Disclaimer:

This checklist is a brainstorming checklist. For composition of a definitive official checklist or action plan, consult the relevant legal/political, economics and accounting/finance, business, and other experts in your home country, and overseas.

>> 1)—Viability 1 and due diligence:

>>> What is the socio-economic, political, and general safety and stability situation in the prospective country/region?

>>> Is your product or service needed, and/or marketable—can/will people buy it? Also related to number four below.

>> 2)—Safety and legal 1: Incorporation, other laws and regulations; get it done!

>> 3)–Legal 2, HR, and on-ground vs. virtual establishment:

>>> Other legal considerations, and HR-management frameworks/decisions; i.e./e.g.: will employees be hired as contract workers—e.g., similar to Upwork contractors overseas, or will your company set up a local office?

>> 4)—Viability 2: Is your company’s product or service already known and used? E.g., the FAANG companies penetrated international markets (fairly/relatively) early, while others are popular in their home countries—and potentially useful overseas, but unknown thereof.

>>> 4–i) Related: if known/used, how widely?

___>> I.e./e.g., using a scale of 1 (less than 50 users) to 10 (more than 1000+).

___>> Other considerations in this regard.

>>> 4–ii) If unknown or unpopular, what is your marketing strategy? How will you ensure buy-in from the country/region’s residents?

>>> 4–iii) Overall, regardless of current popularity, how will you ensure longevity in the market?

Important note: This includes both longevity vis-à-vis your company’s products or services’ market-performance, as well as consolidations of the safety and legal, HR, other considerations. For instance, are there any foreseeable, or predictable-unforeseeable, or unpredictable risks of disenchanting your clients, employees or contractors, shareholders, regulators, politicians, civil-society groups, and/or any other stakeholders?

>> 5)–Marketing, product rollout, and consolidation: Implement the strategy created under 4 above.

Proudly Reinventing the Wheel–Post 1Download