Expanding into new markets and growing your business with Kathryn Read

Listen in to an action-packed episode of Conquer New Markets as Levent is joined by international sales and marketing consultant Kathryn Read. Together, they dive into international growth and the tools and tactics needed to expand into emerging markets. KEY TAKEAWAYS Going global for international growth is rewarding for most companies and when you look at the statistics from the US commercial service, US companies who export are likely to be 17% more profitable than companies who stay domestically. Within Europe, it's normal and quite easy to expand internationally. A big mistake companies often make is they lack self-awareness about their own motivation and about the company. They haven't experienced the journey of growth and therefore expansion can be quite risky because sometimes companies then expand on the basis of a whim. The first mistake is self-awareness the second mistake is a real laser-sharp strategic focus. Profitably into China is a different matter to selling into China and having a good turnover in China. Companies often underestimate the complexity of doing business, how sophisticated the consumer is, and how advanced the market is. Companies have to decide how success looks for them in an overseas market. Examples of this can be looking to increase revenue or aiming to take the pressure off your domestic market by applying pressure on a competitor in an overseas market or you may be looking to extend the product life of your service which is maybe no longer relevant in your home market, but you might find it is somewhere else in the world where the market is less advanced. BEST MOMENTS “For most medium and smaller sized companies looking to expand internationally, they need to be looking for a sales partner.“ “Everyone's global journey is different. Each client is unique and so some of them need more support on one part and some of them need more support on different aspects of their business.” “For smaller countries, there's a motivation to expand internationally.” “The biggest markets in literal terms and maybe not the best markets to enter into.” “Sometimes you need to look at expansion with a blue ocean approach and if you’re inexperienced and don't want to make product modifications right away look at established markets as a shop window.” VALUABLE RESOURCES https://kathrynread.com/international-clarity CONTACT METHOD Linkedin:  https://www.linkedin.com/in/leventyildizgoren/ Twitter: https://twitter.com/yildizgoren IG: https://www.instagram.com/leventyildizgoren/ ABOUT THE HOST Levent Yildizgoren, the author of 'Good Business in any Language', is an award-winning entrepreneur, localisation professional and a PRINCE2 qualified project manager. ABOUT THE GUEST Kathryn Read is an international sales and marketing consultant with over 20 years of experience in developing niche products in emerging markets. She helps SME companies breakthrough international barriers and create successful entrepreneurs in a thriving global marketplace. CONTACT METHOD Linkedin: https://www.linkedin.com/in/kathrynread/ Website: ​​https://kathrynread.com | https://uniconsult-wick.com