Look for overseas opportunities to beat down economic downturn

In these dire economic times, it is tempting for many businesses to shore up their finances and avoid taking financial risks. But while many businesses are battening down the hatches and trying to “wait it out” for a better economic forecast, they have failed to realise that in today’s global economy, eager customers and partners for their business may be closer than they can imagine.

Chances are that your business is examining every aspect of its operations in order to cut costs or discover new sources of income. What you might not have considered is that an overseas supplier may be able to replace one component in your supply chain at a much lower cost, or that customers in another part of the world might pay a premium for your products or services.

Say you have identified an opportunity, so how do you start?

First review your current international communications strengths. You are likely to find that some of business contacts have some international experience.

Then the next step is to create an international communications plan. In this plan, first identify skill gaps within your organization and pinpoint areas in which you need assistance or improvement. You will often find that you have untapped resources. This is also when you should identify what types of services, such as translation and interpretation, you will need to adapt to the culture with which you plan to work.

Finally, you must decide on your course of action. While international business is often very lucrative, it is sometimes easy to forget the extensive preparation that must go into making contact. For example, you will need a translator who truly understands the culture you are working with to prepare your business communications and also interpret returning communications from your new international partner or customer.

Conducting business internationally could very well be the jumpstart your organization needs to stay ahead of the competition, get out of a rut, or simply beat the current economic downturn. Do not let fear of the unknown hold you back from what could be a lucrative opportunity. Strategic partners are always ready and available to ease your transition by handling all of your international business communications needs.

If you have any questions regarding to any of the above or would like to discuss your project, please contact me by email levent@ttc-online.co.uk or call +44 (0)1245 216930

Levent Yildizgoren

TTC Language Services Ltd

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