FAQs

FAQs is a compilation of common business concerns TCCBI has received from managers and business owners around the world. Each response is entirely customized to the client`s specific business concern. Your question may very likely be among those listed here but if it isn`t, please Ask Away and we will respond within two business days.

We have sorted these questions into nine key performance areas. Please select your area of primary interest below.

Globalization

Q. Doug writes,

We’re a retailer that’s been in business over 10 years.  We have approximately 300 employees and over $7 million in annual revenue.

For the past 7 years we have been planning to join the global market.  Our single attempt in 2008 to operate overseas failed miserably in almost all aspects. We were stronger in many ways upon our return but we still want to break through. Any advice?

A. Dear Doug,

First off, I’m not sure if I totally agree with you when you stated that your attempt to “operate overseas failed miserably”. According to your annual reports, your company has a 9.5% increase in the year following this attempt (2009-2010), the greatest increase your company has achieved since its birth. This is a strong indication that your 2008 attempt was not a complete failure. It seems as though your company acquired a great deal of knowledge during that experience and what’s more, that knowledge was utilized strategically upon your return.  Learning from mistakes really is the secret to having global success.  You’re well on your way!

Here at TCCBI we believe that the first step of globalization starts locally. Astute understanding of your local needs will most certainly provide you with the experience, the wisdom, and above all the required resources to reach the global level. Unless you provide a strong and sustainable operation at home with steady growth, going global is premature and usually will not be successful.

One thing I would suggest in addition to perfecting your business at home would be to make sure your operation is efficient and your resources are optimized by insuring the following factors:

  1. recruiting team is attracting the best people possible,
  2. your communication system is top notch in terms of delivering strategic messages and receiving feedback,
  3. your supply chain is lean and waste is reduced wherever possible, and last but not least,
  4. your relationship with your suppliers and contractors is at its best.
Mastering and sustaining the above components not only indicates readiness for bigger and better operations, but such achievements will also lead to a stronger bottom line to launch your company purposefully into the global market.

For more detail about identifying strength, weakness, opportunities, and threats within your operation, please review or Consultancy Report section.