Indian economy is growing and so the businesses that are operating in the country also growing. Businesses are now poised to throw their hats in international markets through collaborations abroad and that is really great.
There should be a fruitful collaboration across cultures and businesses for both the partnering companies and mutually beneficial for all those involved. When any businesses wish to cross the national boundaries to form collaboration, a crisis can develop due to improper communication, lack of cultural knowledge and poor leadership between the two.
Here are a few suggestions to overcome the problem.
Prepare yourself, your company, and team for going international
In your company, you can conduct cultural understanding training that will help understand and familiarize the team with the unfamiliar culture of the foreign country. Though it may look absurd and an unnecessary expense but in a long run it will save your time and money. The training can either be permanent or temporary but it infuses your team with a new perspective and challenges other than the basic cultural assumption one has of the partnering companies’ country.
It is always better to know more about your prospective market. There can be a lot of difference in behavior, norms, values, etc. between the two countries and their markets. It is good to know what is valued and appreciated in the country you want to develop your market. Many a time a word in your country can have a different meaning in some other countries. For example, take the word ‘quality’. In some countries it can mean delivering on time, maybe in other, it can be the best possible product and to other, it can be completely different.
Make a plan
You should make a strategy and plan it out how you are going to enter the new market. The technical skills that you are familiar and the experience that you have gained through these years can be your formula for success. Many IT companies which have gone abroad have failed because they did not know what the client expected as there did deficiency of cultural understand on both the sides. When you plan it out let someone from outside evaluate and assess your plan and it is one of the methods that you can develop a winning business development plan.
Feedback from clients
If feedback is taken seriously it helps to improve your shortcoming. It is good when your client praises you. You can ask for feedback with every commitment that your company has accomplished. Allow the client to fill in the feedback form and do not forget to ask at the end how can things improve. One can use feedback to improve and make changes whenever needed.
Strategic alliance with companies
Getting into strategic alliances with companies abroad will broaden your perspective in the business activities you are involved in. One should be aware of own company’s strength and weaknesses that are real and practical which in long run will lead to your successes and failures.
Your team should be as diversified as possible on parameters like age, gender, education, language skills etc. This diversification will help you succeed more likely than you may think of, as each member will have a different view and opinion. Initially, you may not be comfortable with the team but you will have a very wide range of options that you can work upon.
You can easily face the competition in a foreign country by doing things smarter than your competitors.