Global or Domestic? Pros and Cons
October 1, 2009 by Stephen Kersey
Filed under Business
In the early stages of a business plan for a startup company, you will likely have to make a big decision — whether to offer your product or service domestically or globally. Both options come with a number of pros and cons. Here’s a look at some of those pros and cons associated with trying to decide between a global or domestic market.
Language Barrier
With a domestic market, you don’t need to worry about a language barrier. With a global market, this is a big hurdle.
Market Size
If you are planning to only offer your product or service domestically, you have to realize how dramatically you will cut your potential market size.
Shipping
For those startup companies with products, shipping has to be considered. Shipping internationally can be extremely expensive.
Potential
If you have high hopes, your company’s potential is definitely higher if you are working with the globe in mind. That said, there are a number of domestic-only companies that have had plenty of success.
Image: Flick
Thanks for the advice – the global market seems to be fraught with fences that need to be straddled yet as the social media phenomenon picks up pace the fences become smaller.