How To Open Your Business To The World Without Failing

A significant advantage of electronic commerce (eCommerce) for any brand or business is that it exponentially facilitates sales abroad.

According to the Economic Week report, entitled E-Commerce, growth, and digital ecosystem in Colombia, the exponential development of electronic commerce has been presented in the last five years. According to the report, growth has been 24%, which allows us to foresee that by 2021 the country will reach sales of more than 26,073 million dollars, about $ 95 billion.

Don’t let your guard down at home

However, isolation measures have forced the world to carry out many daily tasks online. That is why, in some brands or companies, creating an eCommerce became especially important to adapt and be there where the new consumer needs it.

What is the most efficient and agile way to create an electronic environment to sell to international markets? LA PATRIA, with the help of Alex Ramirez, CEO at T2o USA, will give you some recommendations to answer this question, and your business reaches another level.

1. Define a goal. It is essential to know what you want to achieve with your business. You must ask yourself if you’re going to internationalize your company or simply reach local markets.

2. Analyze economic viability. Having an eCommerce is not blowing and making bottles, you should analyze if it is viable if you have the resources for its stability, identify what assets can be used or if there is a need to go to credit.

3. Determine the strategic platform. You have to adjust the product to the market and the electronic environment. Define a strategy in which you must make it clear how your offer will stand out, make a difference compared to others, and what you are looking to achieve in the short term. “Now everyone is in that digital process, but the reality is that not everyone is going to sell.”

4. Clarify logistical requirements. It is essential to have control of the supply process of the products. Apply the forecasting technique, a handy tool in logistics, sales, and finance, which allows reducing uncertainty by comparing business and market data.

You should ask yourself if you have the necessary infrastructure and equipment to deliver the products, for example, you cannot pretend to sell to other countries if you only have three people in charge of delivery.

5. Your staff must be trained. The logistics process is complex; for this reason, they need arises for the personnel in charge to be trained. Normally, Small and Medium Enterprises (SMEs) lack this human resource, which is why it is important to make an economic effort to hire the right professional who has the experience and gives them a hand in the process.

6. Specify the best shipping model. You can send your products directly, or in the case of not having the ability to open a market, you can try through a distributor to help you manage your networks. Your decision must depend on costs and aspirations.

7. Understand the legal implications. Laws will influence the process. Each country has legal barriers, and the best practice is to have trained personnel to help you understand them to avoid making mistakes.

Also, it is good to know the tax regime that applies to international sales and be very knowledgeable about tariffs and customs issues.

8. Financial solvency is essential. It is not acceptable for a company to enter another country and disappear after three months, leaving debts everywhere.

9. Adapt payment methods and different currencies. When opening new markets, you should consider expanding payment methods, as this will facilitate the process for any potential client, as well as trying to offer reliable methods worldwide, such as PayPal, which accepts most credit cards. Make conversions in different currencies Because consumers like to know exactly how much they will pay for a product or service.

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What does it take to create your digital space?

A. Choose the base technology and the environment. There are different e-commerce platforms with which you can create your online store. However, you should be aware that your environment must have the ability to integrate with other services and apps to have it all in one.

Shopify could help you, as it is considered a very powerful, robust and straightforward tool for climbing

Amazon is also viable, which can function as a gateway to a massive global audience.

B. Managing campaigns as a marketing center to capture audiences and activate media; otherwise, it will be complicated to internationalize.

What is it?

E-commerce is the business model based on the transactions of products and services in electronic media, either on social networks or on websites.

Bismarck Lepe
Bismarck Lepe is CEO and founder of Wizeline, a product intelligence company that helps businesses drive the development of products. Prior to Wizeline, Lepe was a co-founder and founding CEO of Ooyala, a video technology platform company. At Ooyala, he raised $20 million in funding and led the strategy that drove its early growth and success. Previously, he was an early employee at Google, responsible for Ads Quality products and Video Advertising, which contributed over $1 billion in revenue.

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