The allure of international sales can be tantalizing for a growing firm, and it’s completely understandable.

Entering a new market with many new prospects can be a great way to quickly grow sales if your company is ready for the challenge. Over the last several years, because of Canada’s strong economic performance we’ve seen many companies choose to expand into the Canadian market in search of higher revenues.

However, international sales efforts also use a lot of resources, and take a tremendous amount of time, focus, and cash. Creating a plan is a vitally important step for a growing firm that chooses to enter a new market.

Here are 5 tips to consider for setting your international sales strategy when entering a new market.

1. Connect With Local Entrepreneurs

You’ll likely have a wealth of knowledge in your own country with entrepreneurs that have been successful (and also failed) with their international sales expansion efforts. Picking their brains is a solid first step.

2. See What Help Your Government Can Provide

Many governments have departments with resources and sometimes even funds available to facilitate global expansion. For example, Canada has help in 150 offices around the world. Canada is not an isolated case as many countries have these resources available. For example, VA Partners has worked with great organizations like Enterprise Ireland to help Irish firms explore the Canadian market.

3. Talk to Local Prospects

This can be done over the phone, in person or with the help of a third party. It’s good to understand what is unique about their geography and what new competition you may face. This is invaluable information that can be used to tweak your strategy for the new market.

4. Expat Groups in Your Target Country

Members of expat groups are proud of where they come from and can be a great source of new market introductions. A resource like this will help you scale faster with booking meetings and talking to prospects.

5. What In-Country Effort is Needed?

Flying for face to face meetings or opening an office can be an expensive proposition. Understanding what kind of presence you need to have in-country can go a long way to creating a plan and selecting a country for your international sales focus.

Over the past several years, VA Partners has worked on North American market assessment plans for a number of growing European firms. These plans tend to include an overview of the regions, and setting up calls (and even face to face meetings) with prospective customers. If you’re looking for some help entering a new market, please contact me and we can discuss the opportunity.