Entering into Global markets is a great way to organically grow your business. However, many small to mid sized businesses have a hard time, if they even venture to go global at all, entering global markets. Here are 5 tips for businesses looking to expand their business by entering global markets:

1. Revise your pricing strategy to suit local purchasing power. I like using this example: Microsoft is having a difficult time getting Mainland Chinese computer users to use their operating system and Office products. Why? Simply, it costs too much for locals to buy Microsoft products. Linux is popular in China simply because it is open-source and an affordable solution for that market. Mainland Chinese purchasing power is very low compared to those in the US or Europe. So, pricing your products and services according to local purchasing power is a must when entering foreign markets.
2. Tailor your product or service offering with the local market in mind. Why is Unilever having such success in Asian countries such as India and China? They tailored their products to be affordable for the general consumers who were mostly living in rural areas and were low-income earners. They did this not by offering a super-family size packaging but a smaller or