At last week’s Reflections from the Family Business Forum – organised by Ganado Advocates and Zampa Debattista – Abigail Agius Mamo offered practical strategies for businesses seeking to internationalise with focus and clarity.

In a post following her participation, she highlighted five key pillars for successful international expansion:

1. Prepare your structure, but don’t wait too long

A solid business structure is vital to support both local and international operations. However, perfection shouldn’t delay progress.

Ms Agius Mamo encouraged businesses to embrace the challenge and take the first steps, even if the structure is not yet flawless. “Your current structure needs to support both local and new international operations until everything is fully set up,” she advised.

2. Find the right people

The right team can make or break an international expansion. Assigning this task to an overstretched team “won’t cut it.”

Ms Agius Mamo stressed the importance of having dedicated and competent talent in place from day one – “people who are equipped and committed to driving your international growth from day one.”

3. Be strategic, not opportunistic

Expansion should not be a knee-jerk reaction to market trends or saturation in local markets. Instead, it should align with the business’s purpose, values, and long-term strategy, she said.

“Internationalisation should be a deliberate part of your growth strategy,” she added, cautioning against simply following what others are doing.

4. Adapt with humility

Ms Agius Mamo underscored the importance of respecting the cultural nuances and market preferences of different countries.

A one-size-fits-all approach often backfires, and businesses must strike a balance between adaptation and authenticity. “Avoid a copy-paste approach,” she said. “Respect local nuances, adapt where needed, but stay true to your core values. Authenticity wins over rigidity.”

5. Leverage trusted networks

Building relationships through trusted networks can significantly smooth the path to internationalisation.

Ms Agius Mamo recommended engaging with business representative associations, chambers of commerce, and embassies. These independent entities offer valuable connections, resources, and advice to help businesses overcome challenges and accelerate their growth, she added.

International expansion is a journey that requires thoughtful planning, dedicated leadership, and a willingness to adapt. By prioritising structure, talent, and strategy, and leveraging trusted networks, businesses can navigate the complexities of internationalisation with confidence and resilience.

Featured Image:

Abigail Agius Mamo / Photo by Alan Carville

Related

investigation / pixabay

Tying up loose ends: A CEO checklist to ensure a smooth transition between 2024 and 2025

21 December 2024
by Anthea Cachia

Setting priorities, evaluating achievements and planning are crucial in ensuring a stress-free start to 2025.

Michael Zarb appointed Chief Financial Officer of 9HCapital plc

19 December 2024
by Nicole Zammit

He brings over 15 years of expertise in financial advisory and strategic leadership to the role.

Shreeram Kumble joins PwC Malta as Senior Manager of Digital and Advisory Services

19 December 2024
by Nicole Zammit

He brings over two decades of experience in business development, market strategy, and digital transformation.

Employers losing out on significant funds due to inefficient recruitment and retention practices – study

19 December 2024
by Nicole Zammit

Findings reveal that fewer than a quarter of organisations currently measure the ROI of their hiring activities.