Going global is no small task. The risks and challenges can seem extraordinary, and it often feels like everyone else has already beaten you to it. Your competitors have been importing products or accessing markets that you have, until now, missed out on. We understand.
We are currently on a journey to be able to assist our clients with this process. For that purpose we are catching up with our European counterparts in towns and cities that we suspect are a little bit off the beaten path but that will create opportunities in manufacturing, design, hospitality, and industry.
Here are three little things that you can do to make the above seem less daunting.
1) Assess your virtual environments - It is currently 3 pm in Melbourne and 5 am in the small sleepy European town where I am sitting at my desk. I have had a meeting with my team, booked training for some of my staff, assisted someone in filing a divorce application, and advised on a property development Joint Venture. Via the internet.
Access to technology has made all this possible - and more. Neither the distance (nor jet lag!) will hold you back in light of a properly set up virtual network. Before you take the plunge to physically go overseas, make sure your systems are in place. Laptops, tablets, VPN, two factor authentication and a telephone plan that roams overseas - and cross check.
2) One small step to make a connection - Overseas trade partners are equally as nervous doing business, fulfilling large orders, and extending credit, as you are in obtaining products or services you have not encountered before. If you cannot physically tour facilities or inspect products or shipping routes, obtaining trade references the old fashioned way can certainly make things a little bit more comfortable. It's why I am missing out on the scorching Australian summer, because relationships between lawyers mean relationships between clients. Trusted advisory roles extend globally.
3) Write it all down - it's project management! - Whether you are importing a series of spectacular chandeliers for your 5 lot redevelopment project, or offering global services to small unassuming sleepy coastal towns, having a plan on how and who you will approach, what you will do, who is already doing it, and what the relevant challenges are, will make all the difference in your success.
In my experience, the clients who succeed are the ones who plan.
What's next for us? I will looking at opportunities to help our clients connect globally. It isn't enough to just advise you about the relevant issues - we need to take the journey together.
Leila Chalk
is the principal solicitor at Forty Four Degrees, offering both legal and business advisory services.
+61423495217
