With so many businesses looking to expand into overseas markets, you cannot afford to make any mistakes. You’ve analysed the market, competitors, and crunched the number…but have you taken a moment to consider the skills of your management team?
It is necessary your leaders are trained and developed in specific soft skills to minimise risk and maximise success.
Here are five skills we consider to be vital:
Perhaps the most obvious but important skill of all! It’s a widely recognised indicator of leadership ability and basically, means an ability to adapt quickly and not be fazed by new situations like cultures, work environments, and systems.
Your management teams need to be able to weigh up and analyse the market and make calm considered decisions. Launching in a new country will test this skill to the limit! Learn more about positivity here
3. Critical Thinking
Launching a business in a new territory needs plenty of forethought and planning not least in anticipating potential obstacles and ensuring that you have the right people on the ground.
Nick Wheeler, the founder of UK clothing retailer Charles Tyrwhitt, recently told the British newspaper, The Times, “I think a lot of businesses go abroad too quickly. You need to be very strong in your market first.” So a very important skill if reflection to consider if you’re ready for such a move and to learn from your successes and failures.
Ok, perhaps not a skill, but it is something that cannot be overlooked. Experience will make a big difference.