Globalization is everywhere and Chaitanya Cherukuri says it’s time to invite it into your customer base.
SARASOTA, FL, UNITED STATES, July 16, 2018 /EINPresswire.com/ — Entrepreneurs are always looking to expand their customer base. After all, more customer potential equates to more profit. Yet, most entrepreneurs, especially in the United States, focus on a domestic customer base. According to Chaitanya Cherukuri, that’s literally cutting out the rest of the world and it’s hurting your bottom line.
Cherukuri, a serial entrepreneur knows that globalization is easier to attain than ever before. The most successful startups utilize international customer base effectively. This is the case for King (the company who created Candy Crush). This startup was built in Stockholm, Sweden. In 2017, Stockholm averaged an international customer base of forty-six-percent. It’s these statistics that solidify the importance of globalizing a business’ customer base.
Solidifying Business Reputation
Chaitanya Cherukuri knows that the obvious reason for going global is to grow your customer base. Although, by globalizing a business, it’s also solidifying the business’ reputation. The more people who know about a business, the more opportunities it has. A nationally acclaimed company status is great. Yet, being an internationally acclaimed company opens doors that business owners likely have never dreamed of.
The globalized opportunities for a business lead directly into a discussion about foreign investments. Foreign investors are more forthcoming with information about their portfolios if a company is internationally known. When those doors start to open, it leads business owners into a whole new world of possibilities.
Chaitanya Cherukuri admits there are a plethora of foreign investors who are always looking for a new prospect. If the business is well-known, it’s possible a foreign investor will approach the owner for a stake in the company. Usually, investors will wait until an entrepreneur comes to them. However, there are times when an investor becomes inspired.
The more locations a business has, especially internationally, the more security the owner possesses. Having different markets helps lessen the pressure of being successful in a specific market. When a national company’s product doesn’t provide the return that was expected, the company is in trouble. However, when an international company’s product doesn’t connect with their domestic audience, they have other options. What might not catch on in an American market could become the next big craze internationally. Although, if a company never expands, they’ll never have that chance.
An Increase in Talent Selection
Finally, Chaitanya Cherukuri wants business owners to know that sales are not the only benefit to globalizing a customer base. Another major advantage is that going global expands the talent search for a company. There are many talented people across the world. Therefore, when a company goes global, their reputation will garner a new selection of talent. This could also lead to many new prospects.
To close, Chaitanya Cherukuri wants business owners of all sizes to explore the possibility of going global. There are so many benefits, even for startups and small businesses, that it’s a waste to forgo the investment. Globalization is happening, regardless of whether entrepreneurs embrace it. Eventually, there won’t be a choice, but now, business owners can learn the techniques of globalizing while it evolves. That, Chaitanya Cherukuri believes, is the best option of all.
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Source: EIN Presswire