Fortune 500 companies such as IBM, Proctor and Gamble and others derive more than half of their revenues from international activities. We have heard that there are significant tax advantages in doing business offshore. All this sounds very enticing and many budding entrepreneurs can’t wait to fly to Paris or Shanghai to tap into the international markets. However, the startup CEO must evaluate a number of potential pitfalls, before jumping on the international bandwagon.
1. International requires patience. Relationships have to be built one-by-one in each country. Business contacts enjoy playing tour guide, having a meal together and getting to know you. So, do take time to get to know your partner and their country and its customs. Under no circumstances should you put your partner under pressure to sign a contract before your departure date. The partner should feel that you have all the time in the world to build and cement the relationship.
To read the full, original article click on this link: Startup Professionals Musings: Startups Need International, Without the Pitfalls
Author: Martin Zwilling
