The Essential List for Taking a Business Global According to Jonathan Bench

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Entering a foreign market can be fraught with risks, and chair of Harris Sliwoski's corporate practice group Jonathan Bench has seen too many instances where a company did not lay the proper groundwork for their foreign business.

That cavalier attitude can work for a while, but it will cause you serious repercussions down the road. Do yourself a favor and do it right the first time.

Read the essential list for taking a business global and your future self will thank you. 

Is Your Startup Ready to Go Global?

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While the most successful companies tend to follow the money, that shouldn’t be your sole motivation for going global. 

There are five main indicators for determining if your startup is ready to go global. If one or two of the indicators here apply to your business, you’re definitely headed in the right direction. 

But before you take the leap, you need to be aware of the challenges and risks. Start by asking yourself these questions.

Factors to Consider When Scaling to a Global Workforce

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As Davis Nordell, technology senior analyst with RSM US LLP, writes, "The globalized economy and the possibilities of remote work mean companies are considering building international workforces. But you need to plan carefully for any international expansion.

Despite the current problems plaguing supply chains, tech companies — especially those outside of the hardware sector — have limited exposure to or concern for supply chain risk. This insulation can make a rapid global expansion all the more attractive to early and mid-stage technology companies that may not yet have a significant international presence. 

Without a thorough understanding of the risks, logistical and compliance needs, and cultural considerations required to maintain a cohesive business structure in a variety of international markets, however, organizations will set themselves up for failure.  Again, plan early and carefully, to avoid hiccups.