Getting business from outside the geographical boundaries of India needs smart and systematic business acumen. Small Businesses should look at these opportunities very carefully; writes Faiz Askari, Editor-Technology, Small Enterprise India.com.
Hunting for right kind of business opportunity is something which no entrepreneur can ignore. In this bid, these entrepreneurs left no stones unturned within their reach. After one point they often say, ‘it’s a saturation stage now’. In such a situation, why not look at business development opportunities from outside the local geography.
Yes, going beyond the country’s boundaries is the ultimate way of expanding the business. But the right strategy has to be prepared and implemented to achieve the desired goals. Moving beyond the Indian geography requires a systematic and smart approach. Otherwise, this approach could end up in a costly affair for the businesses.
The conventional way of bringing business is to approach the right set of people using existing contacts and showcase them the business expertise. However, while talking about getting business from a place where you never have been anytime before in your life requires a great amount of smartness, will and well directed business approach opines A real estate builder cum timber merchant from Delhi.
Ashoka Gupta, owner of Shiva Enterprises further says, “Although I see that we have reached a level of saturation or in other words we can say that we do have spent very good time in our line of business. But still, moving abroad from getting additional business seems to be very costly affair for us.”
With the costly affair, Gupta means that if at all he would be tapping NRIs for his property business, he has to open an office somewhere in a lucrative market like North America or south Asia which involves a high sum of money.However, Mr Gupta found a cost effective way of approaching his potential customers by reaching out to them through online groups.
Scope of Online
Investing few hours a week can let the small business entrepreneur to search right kind of online communities where they can find the potential customers. In such approach no extra investment is required and it could give wonder results.
Scope through International Events
It is a tough task to tap the target community. In this regard, large business events bring an opportunity to showcase expertise and to understand the foreign market as well. S. Dasani owner of D Group International, shares his views, “I have attended several business events and achieved considerable business from such investments. Be it China or Germany, business events are the only opportunity which lets buyers and sellers under one roof.”
Dasani is a fashion garment exporter based in New Delhi. However, Dasani has emphasised on a dedicating resources for international markets. “Barring last few months international business had delivered great portion of overall business. Especially in the garment line, the international markets have always been under prime focus for exporters and garment manufacturers. But we always have to look at cost effective way of approaching the international markets,” he added.
While tapping new emerging geographies, another most important aspect is to look at the genuine tie ups. New Delhi based Escape Systems is a technology solution and integration company who has recently ventured into global market. After getting some good business from the Middle East region, the company is now looking at delivering the solutions for their customer who are based in the gulf region.
Gaurav Leekha of Escape systems says, “Tie ups and partnerships with right set of partners to deliver product and services to customers who are outside India, would take the overseas business development activity to a next level.” However, these tie ups and collaborations will definitely add a strong base in any new land.
Hence business operations without geographical boundaries, for example, global commerce and the Internet have made the world smaller, but far more competitive. So the business owner have to deal with terms like international business, multinational, globalisation, multi domestic and the global marketplace very often and smartly.
For small businesses it is very important to understand the criticalities of getting business from outside India. This arena along with the traditional export and import industry provides pathway to a multitude of careers.
It is needless to emphasise that a successful international business activity requires more clearer and focussed business acumen than doing domestic business. However, conventional business functions and values are there to be managed, but one also must understand and work from a global perspective that adds politics, culture, monetary variables, time, and distance to the international business management equation. Understanding these business values can take a small Indian business, to new heights of International exposure and International markets.