Episode 14 – Build Local Sell Global

(04:26) Frequent mistakes to avoid while building local businesses

Building a business locally and selling globally during or after the COVID pandemic situation has become challenging. To avoid inevitable mistakes, you need to consider following these below-mentioned things. 

1. Product-market culture fit – Identifying whether a particular product fits the target market culture of geography and then selling it. 
2. Identifying core and chore of business – Businesses usually fail to identify the core values and the chore of the business. So, it is essential to identify what the company’s values and what your brand want to stand for.
3. Selling problem before selling product and services – Salespeople and marketers need to sell problems first then their products and services to the consumers. This process helps in creating awareness and demand for your product in the market.

(14:44) How should a leader influence a growth culture for an organisation?

A leader can influence by following a cultural pyramid structure for his/her business. The structure can be depicted in three forms:

1. Bottom:  The foundation of the culture table is made up of philosophy and values of a company that employees need to follow. It sets a benchmark about what the company demands to run a business. 
2. Middle:  The second is mythology and folklore behind the values of a company. It is about how leaders and employers who need to come up with the reason behind the values and why they want employees to follow it. 
3. Top: – The top section consists of rituals followed within the company. For example, salespeople usually set a ritual where colleagues applaud an employee for achieving a bigger client. 

(18:00) What is the most significant challenge while building a local business?

Building trust among employees is one of the most significant challenges a business could suffer. It is an essential thing among businesses as it helps in building a robust trustful nature in the organisation. The concept of organisational culture is to keep everyone together. 

(22:19) What are the best practices you suggest for building a successful business team?

Here are certain things that businesses need to follow for becoming successful in the market.

1. Choose people who have a relevant set of skills required for the growth of your business.
2. Become determinant while working with other professional. 
3. The team you are working with should be highly motivated while making the business successful.

(26:55) How should an organisation create a global presence?

Apart from having an office, businesses need to build their global presence through the medium of the internet. From websites and social media platforms to content marketing activities and podcasts, business needs to build their virtual presence to grow faster. 

(30:20) What are the key challenges of managing cross-cultural teams, and how do you address these challenges?

Business leaders usually face a major challenge of cultural differences while managing teams across different geographies. So, to tackle this challenge, you need to know anything and everything about the people you are working with. From their national/local food to the favourite sports team, you need to research their likes and dislikes before working with them. This method helps in building organic relationships and can help in growing your business.