From exploration to ROI:
4 steps to success in a new market
Your first hires in a new country are critical to your company’s success in the region. You need people with staying power, local knowledge, and the will to build and coach an entirely new team.
You might need to rent an office or set up their remote workspace, contract service providers, set up financial controls, and facilitate foreign currency payments to local suppliers. Your first hires can advise on these decisions, which is why you need to trust them implicitly to suggest the best service providers and expensing needs for their market.
If you laid firm groundwork for your new market teams, they’ll get straight down to business and start closing deals. As returns start coming in, you’ll need to repatriate foreign profits safely and quickly back to your local currency.
Once operations are running smoothly and you’re finding success in the new market, it’s time to look to the next. As your company grows, you’ll need in-country experts to support with onboarding, taxes, compliance, and protecting your intellectual property in your new region.
To establish your presence in a new market or simply test the waters, Globalization Partners can get you hiring abroad in no time.Expand as fast as you like in any country and facilitate the movement of employees from market-to-market with our fully automated expansion solution, powered by in-country HR experts.
Partnering with an expert in foreign exchange transactions like Tempus will simplify sending and receiving funds internationally to lower your costs. Moreover, when expanding into new markets, opening a Tempus multi-currency account will save you time and administrative hassles while improving your bottom line with better exchange rates than your bank.
Hire your first team members abroad
Step 1
Set them up for success
Step 2
Receive revenue from abroad
Step 3
Build out your team
Step 4
