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In the past, aspirational companies viewed globalization as a tool to access one or more international markets. But over the years, the true meaning of "going global" has changed. Today, "going global" has transformed from its humble beginnings as a mere recommendation. Now, it has become an absolute necessity for continued growth and success.
Let's take a look at the numbers: According to McKinsey, "border data flows are increasing at rates approaching 50 times those of last decade. Almost a billion social-networking users have at least one foreign connection, while 2.5 billion people have email accounts, and 200 billion emails are exchanged every day. About 250 million people are currently living outside of their home country, and more than 350 million people are cross-border e-commerce shoppers."
Let's unpack these numbers a bit. Essentially, exponential numbers of people around the world are connecting to the Internet. This, in turn, connects them with other people, often in a foreign country. Similarly, increased connectivity enables disparate global customers to connect to businesses and purchase their products and services. Individuals and businesses alike publish digital and social media content, which local audiences across oceans and borders can access instantly via the touchscreens in their hands. And thus, with the click of a button, the content producer has landed squarely in on the global stage.
Separating the companies that have stumbled and those that have found success when "going global" can come down to one word: intentionality. In short: when considering global expansion, successful companies must take the intentional step of understanding the cultural nuances inherent in connecting with a diverse, multilingual international market. That means internalizing three key skill sets: a global mindset, global entrepreneurship, and global citizenship.
Finally—and perhaps most importantly—go global with intentionality by becoming a true global citizen. "Global citizenship" is an increasingly popular buzzword in our everyday vernacular. As doors continue to open and bridges connecting people around the world continue to be built, we meet a new responsibility to engage mindfully and respectfully with unfamiliar cultures and societies. By recognizing the diversity, complexity, and potential challenges associated with expansion into new multicultural, multilingual markets, companies can demonstrate their ambition to be truly active, intentional citizens of the global marketplace.
So, in 2019, how do you "go global" intentionally? How will you interact with new international markets to drive awareness and affect resonance? Like it or not, every modern business needs to consider these questions when contemplating international growth.
The process of going global can feel overwhelming, but it doesn't have to. At Lionbridge, we've made other companies' global business our business for more than 20 years. In this 10-part series, we'll share our experience on "going global": what it means, how to do it, and when to ask for help.
For more tips and tricks download our Going Global Whitepaper