Starting out in a business is something that a lot of people go into wide eyed and excited. Besides all of the risk that they are up against, if you were to ask one or all of them what their long term plan is, they will most probably tell you that it is to show consistent growth in every sense of the word.
The growth of a company in any sense, whether they need to expand their company on site, to another location or overseas spells success. It means that a company has fought hard to make a name for themselves among potential customers or clients and they have emerged victorious.
Although this is something that is on every entrepreneur’s long term plan it is not the most practical plan for every business owner out there. This simply means that the choice to expand has to come after careful consideration.
As an owner of a now successful business you will need to keep in mind that you will still have a number of things you had to risk at the very beginning. Choosing to open up and set up a Hong Kong company at ACS may seem like a good idea at the very start but you will soon find out that if you have not taken a lot of factors into consideration, you will be facing the same degree of risk all over again.
Another area that you will need to consider especially if you are planning to start up an offshore company is the operations and logistics. You will need to make sure that regardless of whether you are offering a product or a service you are still able to provide the same quality of goods at your offshore location.
You will also need to make sure that you recruit a manager and employees that are in line with your vision and mission at your overseas location. Recruiting the wrong people at your overseas location will lead you to nothing short of a loss to your company.
Having a strict strategy that your local location as well as your overseas location will be expected to adopt makes it easy for you to manage and take calculated risks.
Communication is another factor that you will need to work through. For an expanded company to be able to run effectively, they should be able to have a good communication system up and running. They will need to be able to be updated real time and solve issues in the most effective way.
Keeping these areas in mind will help you make a good decision when it comes to whether or not to expand internationally or not.