What Strategies Can Entrepreneurs Use for International Sales?
Entrepreneurs can choose from various strategies to enter international markets:
1. Exporting: Directly selling products from the home country to international markets. This is the simplest and most common method. 2. Licensing and Franchising: Allowing foreign companies to produce or sell products under the entrepreneur's brand in exchange for royalties or fees. 3. Joint Ventures: Partnering with local businesses to share resources, risks, and profits. 4. Foreign Direct Investment (FDI): Establishing wholly-owned subsidiaries or acquiring existing businesses in the target market. 5. E-commerce: Utilizing online platforms to reach international customers without the need for a physical presence.