To coincide with the launch of the E2E International 100 list in 2024, Champions (UK) plc, E2E’s strategic partner and multi-award-winning business solutions partner specialising in growing EBITDA and capital value for clients, will share their insights on guiding international business growth and activity, as well as advice for overcoming the challenges business owners may face along the way.
“As the global entrepreneurship landscape continues to evolve, business leaders face unique challenges when expanding their operations across borders,” said Matthew Hayes, Managing Director at Champions. “From navigating regulatory environments to managing transformation programs, the international entrepreneurship journey demands strategic expertise and innovative solutions.”
New Thinking
Champions Change Mindset Leader, Casper Craven, emphasises the need for entrepreneurs to adopt new mindsets and techniques tailored to the international market.
“I truly believe that we can’t navigate the new world using any old chart. And the most important chart we need to reexamine is the one in our heads. Paying attention to our mental models, I believe, is key for aspiring leaders to gain a competitive advantage.”
“In speaking with and studying leaders who demonstrate what I call a Bold Mindset®, I have noticed several defining characteristics. Among the many characteristics, some of the most impactful are three that I have summarized as questions for reflection:
“How interested are you in what’s changing in each region where you operate?
“How many experiments will you run per region each week?
“How often do you say, ‘I am right,’ or, ‘How do I know I am right?’
“When doing business overseas, the most important mindset is to keep learning. The rules of the game are constantly changing, and the winners will be those who learn the fastest.”
Multicultural focus
Emma Tolhurst, Head of HR Strategy at Champions, spoke about the importance of cultural readiness when expanding internationally: “To be multicultural as an SME or to grow your business with a multicultural focus, you need to understand the specific countries you are expanding into and incorporate local voices.
“For example, how people work and connect across time zones can put huge pressure on business infrastructure, so expectations need to be aligned and set around working hours and how they work.
“Having a set of core values ​​to align with and taking a ‘glocal’ approach to it will make the difference, improving retention rates, increasing placement rates and allowing you to scale in key locations with the right foundations for growth.”
Matthew highlights the important role that sales and finance experience and expertise play in running a business internationally: “Entrepreneurs must have a deep understanding of global markets, including diverse consumer behaviors and financial regulations.”
“This knowledge enables companies to customize sales and financial strategies that resonate with international customers and comply with local laws.”
A holistic approach
Matthew also highlights the importance of strategic partnerships with non-executive directors (NEDs) and delivery partner agencies when expanding into new territories: “Expanding into new territories often requires strategic partnerships with NEDs and agencies with extensive experience in international business. These collaborations can provide valuable insights into market entry strategies, regulatory compliance and operational efficiencies, significantly accelerating international growth while mitigating the associated risks.”
Speaking about the complexities of international entrepreneurship, Matthew said: “Understanding the nuances of global business requires a holistic approach.
“We learned that embracing change, leveraging expertise and forming strategic alliances are key to overcoming the obstacles of international business.”
