It’s the dream of just about every entrepreneur – to take their business into a new market. It’s a continuous game of exploring new business opportunities to expand beyond where your current market entry strategy exists. Expanding into a new market takes a great deal of work and energy, as well as a number of other important factors that will … Continue reading
Over time, businesses grow and change. Part of that growth often involves entering into a new market. If you’ve decided to go from serving a local market to serving a global market, you’ll find yourself in amongst cutthroat competition. On the other hand, perhaps you’re just expanding into another city or state. Regardless, if you don’t know how to find … Continue reading
If you’ve been thinking about expanding your business into a new market you may be trying to decide whether to go abroad or stay domestic. This can be a complex decision with much to weigh out. Most companies would rather stay domestic if the market share is large enough. After all, it’s far less complicated and less costly to do … Continue reading
An important consideration to the question of why to enter the market focuses on who is selling in that market for your business. If you have a sales team being paid to help you to find opportunities, those people are working to help you to succeed. In other cases, you may find that companies are trying to encourage you to … Continue reading
Before entering into a new market, it is a good idea to ask yourself what level of acceptability the market must offer to your business before you enter. Here are some questions and concerns to take into consideration before you make such a move with your business. In order to compete within that new market, what must your business offer? … Continue reading
Your business has the opportunity to move into a new market. You may be just thinking about the benefits of making such a move. On the other hand, you may be concerned about whether making this move is going to turn your business in a positive direction. In some cases, the decision to make such a move is an easy … Continue reading
Making a move into a new market can be a good move, but in other cases, it can pose risks to the business. In many cases, the market may have an opening, for example, due to the failure of another company. It can be tempting to take your business into that market to fill that vacancy, but before you do, … Continue reading
If the time has come to expand your business entering a new market is one way to do that. There are a number of ways to enter a new market. You may find yourself using one or more of these strategies. To know which is the correct approach will require you to do your research. A great deal will depend … Continue reading
