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Not being tied to a location is always a good thing unless it makes you lose your focus and develop plans that are too ambitious for you to execute. With global mobility, the entire world becomes your market. There is an infinite number of potential customers (from your perspective, at least), an infinite number of potential employees you could hire, and an infinite number of partners.
Still, being present globally is something that’s incredibly difficult to execute. The infrastructure requirements would be incredible, and it would take you a lot of effort to set it all up. With that in mind, here’s how global mobility supports business expansion and growth. By understanding this, you’ll understand why, even despite all the challenges, it’s still worth doing.
1. Access to New Markets
The first massive advantage of global mobility support is the fact that it allows you to transition to new markets easily.
You can tap into new geographical regions by default, but now, you can make it all much easier by actually hiring locally. Just think about trying to penetrate a local market with one of your employees actually being from the region. This way, you could fact-check anything that vendors or partners from the region are saying and even use this person as a representative.
The most important thing is that you can send someone there for just a couple of months to set things up. People travel for work all the time, and with the right approach to taxes for mobility work, you can even avoid being double-taxed while doing so.
Keep in mind that while you’re technically no longer limited by your geographical location, there are some things that you still cannot safely set up from afar. Sometimes, you’ll still have to travel there and oversee things in person.
2. Talent Acquisition
In the past, your talent pool was limited to people who were locally available. The only way to expand your appeal was to make the offer so good that it would be cost-effective for one to relocate fully to work for you.
Today, you can hire remote workers with ease. In fact, it’s probably more convenient for someone to work for you over the Internet than to find a local job just two streets away. After all, remote work is always cheaper for anyone. They don’t have to waste hours on the commute on a weekly basis, and you don’t have to ensure that you buy the equipment they need or have enough office space.
The only challenge you’ll face is developing a global mobility program; however, this is a task that you can outsource.
There are a lot of agencies focused on this, especially now that it’s becoming a mainstream trend. This means the process can be streamlined far easier and far quicker than you think.
3. Operational Flexibility
Another thing you need to keep in mind is the importance of adequate operational flexibility. First of all, if things go poorly in your market, you can always move somewhere else.
If you’re selling luxurious or non-essential services and a recession hits (or just starts looming), your product will go down on the consumer priority list by quite a margin. However, what if another area is not hit as hard?
Sometimes, the flexibility doesn’t just come from the fact that you’re selling more than one product. It comes from the fact that you’re selling this product in different markets.
Another thing you can consider is the desire to relocate your business somewhere else. All those corporations moving to tax havens are doing so for a reason. For most small businesses, however, this is not an option since they cannot physically leave their geographical region. Fortunately, this is no longer the case. In the age of the internet and with a business that allows you global mobility, it really shouldn’t be too hard to achieve this.
This opportunity to pursue your ideas without restrictions is one of the biggest reasons people want to become entrepreneurs.
4. Expansion of Partnerships
Finding partners and strategic vendors is also easier than ever before. You can research them (not just their offer on a website but their entire online presence and reputation) and reach out to them without ever having to meet in person.
Thanks to the freighting and shipping infrastructure, you can have goods from across the globe delivered to your doorstep so you can later distribute them to your own customers.
With this access to partners, you get global mobility. Think about it: if they’re a firm from France making deliveries to Brazil, what are the odds that they’re not delivering to Canada or Australia?
Your collaboration will expand as your business grows, and there will be fewer instances in which you have to make hard choices or swap partners.
5. Cost Optimization
Imagine having access to any store across the globe and being able to buy your groceries in piecemeal. You can get one item from this store because it’s the best and another item from that store because it’s the cheapest.
You can also hire people from this region because it gives you the best cost-to-quality ratio. Alternatively, in order to hire someone with the same qualifications from your own region, you would have to spend a small fortune.
Chances are you’re going to outsource either way. So, finding strategic partners in regions where their costs are lowest and the quality of their service is the highest is the top priority.
With access to these global services, optimizing your costs through various means will be much easier. You’ll have all the tools now; you’ll just have to use them correctly. The best part is this has been done since the beginning of time; it’s just that it wasn’t available to smaller enterprises.
Wrap Up
Having a business with global mobility means that you’re ready to take advantage of globally-available resources. You can still model your enterprise as a local business; you just have one more option available, and more options are always an advantage. Also, in 2024, there is so much you can do to outfit your business with a higher global mobility support.
