The important thing is not being afraid to take a chance. Remember, the greatest failure is to not try. Once you find something you love to do, be the best at doing it.

Debbi Fields, Author

Crisis = Opportunity

Recovery from the recent pandemic may be seen as an opportunity for European expansion.

European Expansion requires consideration of preparedness and timing. Introducing new products and exploring new markets are ways to grow your business, and Europe offers that opportunity. Moving too late allows your competition to take the lead, and forego revenue, but moving too early may overstretch your business and lead to failure. So, what’s the right time?

When your business is well established in its home market, satisfied clients, established sales processes, and has a clear plan for expansion with the assistance of Georeno Group, then you are prepared to enter the EU

Targeted demographics

Before expanding to Europe,  know your base demographics. Satisfied customers do not guarantee success or ensure the right time to expand into Europe. Is there a ready market for your product or service? Does your target country have a receptive audience? Who is the local competition? Preexisting customers, even as a result of a deal done elsewhere and local customer references are paramount.

Budget and channel structure

Georeno Group can help you prepare a realistic budget to launch into the EU.  Sales are supported by a broad marketing plan.  An unrealistic marketing plan or lead generation support is a bad idea. A sales head alone will be pulled in too many directions and when managed remotely, set defined goals and expectations.

Is paying a retainer to sales agents rather than commission-based pay viable?. It can take three to 12 months to close your first major deal in Europe. It takes time to build a brand abroad, and you need to invest in it — otherwise, people won’t trust your company’s staying power.

Different markets may require different channels in order to optimize sales.  This often involves utilizing talent already in the chosen region. In many European countries, relationships matter more than anything else.

Consider remote work models

Companies who have the edge on European expansion understand that remote work hiring models are here to stay. Remote and online outsourced models are both current and future solutions to gain an advantage in expanding your business into Europe. You need the best people for the job, no matter where they are. Assure they speak the local language and understand the local culture.

Regulatory hurdles

Your business will tackle country-to-country regulations, practices, and local industry trends, even cultural obstacles. Expansion into Europe should not be a one-country approach. Approach those with strict local laws appropriately, for example, the German privacy and data residency requirements go beyond GDPR. Regulating standards can be a logistical and expensive nightmare if breached. National laws may operate differently depending on the EU member state. In most cases, employment laws are created at the local level and then taken up by each member state.

Add multilingual options to your e-commerce site, thus opening your business to a multi-marketing approach, and reaching more customers.

Recovery from the ongoing pandemic and how your business is prepared in its ability to adapt to change. How startups and scale-ups throughout Europe demonstrate resilience to such trends influences investment opportunities going forward.

Partner with Georeno Group

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I make a conscious effort to keep things in perspective when I get burned out. It is easy to get stuck in the daily grind, but if you think about all the distance you have covered, and what lies ahead, it is much easier to feel motivated and optimistic.

Alex Litoff, Event Farm

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