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At Elite Business, we’re passionate about championing new business. Providing fresh perspectives and representing disruptive solutions, we’re interested in the startups and SMEs that are spearheading Britain forward. From tech unicorns to entrepreneurs transforming healthcare with AI, we cover the movers and shakers making enterprising exciting. Our online platform covers up-to-the-minute content and presents a unique angle on the things enterprises need to know, from maximising the potential of mobile to setting the world alight on social media. We also gather the best and brightest voices in the community to share their experience.
Episodes

Monday Jul 22, 2024
Unlocking Global Growth: Mastering Expansion into New Markets
Monday Jul 22, 2024
Monday Jul 22, 2024
Expanding your business internationally can open up new opportunities and significantly boost your growth. In this video, we delve into the intricacies of taking your company abroad, featuring insights from Allyson Stewart-Allen, award-winning advisor, author, broadcaster, speaker, educator and NED, who spoke at Elite Business Live 2024.
Key Learnings:
⭐️ Understanding Cultural Differences: Alison Edgar emphasises the importance of researching cultural norms and localising your products and services for new markets. She cites McDonald's as an example of successful localisation, adapting its menu to suit regional tastes while maintaining its core offerings.
⭐️ Avoiding Reputational Mistakes: Learn from the example of Microsoft's costly error due to a lack of cultural awareness in their advertising campaign. Alison highlights the significance of thorough and culturally sensitive planning to avoid such pitfalls.
⭐️ Conducting Sufficient Market Research: Alison stresses the need for extensive market research, including surveys and site visits, before expanding abroad. She advises setting realistic targets, as breaking even in a new market can take up to five years.
⭐️ Building Local Partnerships: Establishing strong local partnerships is crucial for a smooth transition into new markets. Alison encourages businesses to collaborate with local firms and vendors, integrating their knowledge and networks to support international expansion.
⭐️ Comprehensive Planning and Consistent Execution: Successful internationalisation requires a well-thought-out strategy, consistent efforts, and convincing stakeholders within the business. Alison underscores the importance of analysis and research as critical components of this process.
Don't miss out on these expert tips and actionable advice for navigating the challenges of global expansion. Watch the full session to gain valuable insights and learn how to master the art of international growth for your business.
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#GlobalExpansion #InternationalBusiness #EliteBusinessLive #BusinessGrowth #MarketResearch #CulturalAwareness
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