Don’t Ignore These 10 Things as You Grow  

Samrah Azam is an international business consultant and is executive director of Global Chamber® Islamabad. In addition to her work with Global Chamber, she provides HR consultancy, business improvement solutions and training modules for different corporate sectors. Working as an executive director at Global Chamber, with combined technical and commercial insight to craft strategy, uncover growth opportunities and expand market share, she is a global management specialist and helps companies and communities grow locally and globally.

As the executive director of Global Chamber Islamabad, she works with member and sponsor companies throughout the Islamabad and the North Regional area of Pakistan to help them grow regionally and globally more successfully. Azam is committed to helping companies and investors obtain knowledge and make connections that will help them be more successful across the border. She manages members and sponsors for Global Chamber Islamabad, plans local Global Chamber events and facilitates global business connections. Connections to opportunities are important — in Islamabad, Idaho and Istanbul.

10 Things You Can’t Ignore While Expanding Your Business

1. What markets will be the best for my product or service? What are the best targets in each of those — who are they, which market segments, which title at the company? Target them.
2. What are your unique strengths and value proposition? Understand and leverage those to determine the best markets, and then develop plans to enter them.
3. What are the local taxes, duties and other costs of doing business in new markets? Consider their impact on your growth and find ways to reach customers effectively and productively.
4. What are the advantages you can get from local and regional agencies like CPEC in Pakistan? Every region has groups that can help, and Global Chamber collaborates with everyone.
5. What is the Information you’ll need to share with local authorities as you grow beyond your region? Be sure your administrative activities are covered as you grow.
6. What are the operational costs to meet International standards? As you grow into new markets, different needs emerge, and your product or service — and the delivery — will need tweaking.
7. What distribution method should you use? Direct and indirect sales methods should be considered and then managed effectively once a decision is made.
8. In addition, what online distribution channels are available for your business? Are they applicable? Consider expanding online in today’s world and taking advantage of technology.
9. What security protocols should you consider? Manage risk as you grow regionally and globally, and consider what can go wrong so that you can avoid issues.
10. Which warranties are required according to the regional markets segments? Be sure to handle service of your product or service end-to-end.

Critical next steps include setting the pricing model in new markets. Contact Global Chamber for advice and resources as you grow across the region and, even more importantly, as you grow across borders. Ultimately, you’ll need to decide your pricing through feedback from local people in local markets. You should be considering expenses relevant to ongoing introductions, registrations and renewals of regional licensing costs. You should be considering hidden costs of taking your local business to other markets, and speak to us so that we can help reduce the mystery and surprises.

Sarah Azam is the executive director at Global Chamber® Islamabad