What are the basic steps to develop your company's business in a new country?

For the development of new market we need to understand the following as also known as4P's Product: What value does the firm offer, or what problem does it solve? Place: How is the product or service delivered to the consumer? Price: How much does the product or service cost? What is the strategy to target a specific customer base? Promotion: How is the firm’s message communicated? Is the promotional strategy aligned with the target markets values?

Dear sir You have to build your business plane based on products, target customers specially key customers And also to build your action plan to achieve your target right way For sure marketing plan, market study, market share over your competitors very important

first of all we should find our target , in which market we want to penetrate , and then we should know their customers , their industries , what kind of mechanical or electrical parts are suitable for them ? is price important for them ? Quality ? Their finance condition ? after finding our answers we should present our company exactly same with their demands , and obtain the part of Market that you target in your plan ,

INFO that are needed to take the decision:1) Feasibility study and report to justify that such a business is not only a viable option but a profitable one in that country;2) Short & Long term estimated / Planned P&L;3) Proper understanding of the Law of the land - both company and labor laws;4) Stability of the country - both economic and geo political;5) Availability of skilled work force - both labor and management.
STEPS to develop / start the business:1) Register the company;2) Recruit local managerial positions to help with human resource recruitment, administration, and legal advisory for the plant;3) Choose a suitable location and rent/lease - plant can be in an economic zone, keeping in mind the transportation requirement, dormitory (if needed) requirements;4) Move / Purchase the production equipment for the plant;5) Recruit the necessary managerial staff and skilled work force;6) Bring in an experienced trainer(s) to train the local work force;7) Start with a low scale production and trial run the whole production and logistics cycle and gradually increase it to the plant's maximum handling capacity.

what are the basic steps to develop your company's business in a new country? company manufacture mech/elec equipment Dear fellow Bayt.com member Establishing international business requires great planning and methodical implementation of the envisaged plan.
Though this is a cumbersome and long drawn project requiring considerable financial muscle and in depth understanding of a given country’s legal and market requirements, it is achievable.
For a company engaged in the manufacture of Electrical / mechanical or electromechanical equipment, the task of establishing business in a new country is a difficult and time consuming one.
The products will have meet the Safety, quality and performance specifications of the intended country.
However, it is possible to set up such a business.
One needs to decide as to whether the company simply wishes to export its product to the new intended country or does it want to manufacture the products in that country.
Each country has in place safety, EMC and performance requirements as enshrined in the respective regulations.
For example, if you wish to develop business in one of the EU countries, your products must meet applicable safety, quality and performance standards as enumerated in the following and relevant directives and become compliant and must have documentary evidence to prove that the products meet the standards.
• EMC Directive (2004/108/EC) • Gas Appliance Directive (90/396/EEC) • Low Voltage Directive(2006/95/EC) • Machinery Directive (2006/42/EC) • Medical Device Directive (93/42/EEC) • RoHS Directive (2011/65/EU) As such an electro-mechanical equipment producing company is required to research and acquire knowledge on the following : • Determining which directive(s) are applicable to your product • Determining the essential requirements under the directive and fulfilling them • Establishing a monitoring system • Establishing an accident reporting system • Issuing a Declaration of Conformity • Process of Saving the documentation for10 years after a product has been placed on the market • Registering with the appropriate governing body within Europe.
Similarly if the intended market is North American market the following standards are applicable and the equipment must be compliant to the applicable respective standards.
UL, ANSI, CSA, ASTM, NFPA, NOM, etc etc The solution Though the task at hand appears arduous, it is achievable with determination and with the assistance of testing and certification agencies like INTERTEK, etc.
Upon your request, these entities will involve themselves right from the design stage through product testing and certification for virtually any market around the world.
Armed with the product certification from an internationally recognized testing and certification agency, you will be able to launch your products on any market and develop new business there.
The various possible steps in establishing new business of an electromechanical equipment manufacturing company are:1.
Zero in on the intended country/ies for new business development.2.
Design your product keeping in mind the applicable regulations and standards3.
Identify an nationally recognized testing agency in your country and have your product tested4.
See if any design changes are needed to meet the safety and performance standards as per applicable regulations.
Have documentary proof of having met the regulatory requirement5.
Identify and Hire the services of internationally recognized testing and certification and listing organization and discuss your plan to develop business in the intended new country6.
Have your product tested and certified for a given markets applicable regulatory requirements.7.
Establish suitable marketing arrangement in that country to launch your product.8.
Receive and sincerely analyse the feedback from the customers in the new market and make suitable changes to meet consumer’s needs and continue to provide excellent service’ I sincerely hope the above helps.
I have not provided the full details for want of time and space and simply hope you will take this as preliminary information just to get you started on your mission.

When a business man want to expand his/her business globally, he /she should keep in your mind four big external source.
By following these four steps he/she will start a very boosted business.1 Cultures and religions2 Economy of People as well as country.3 Environment4 Law

Its a very valuable question that every investor think about.
There are5 main & basic steps to be taken for the formation & development of new business.1) Market Research2) Sufficient Budget3) Perfect Location4) Experience Production In-charge5) Experience Salesman.