Eternity Law International — News — Starting a business abroad

Starting a business abroad

Published:
June 19, 2020

Starting a business abroad – an urgent issue for entrepreneurs.

It should be noted that during the crisis there is no strong competition. Fewer competitors are a great way to promote a product.

It’s easier to win your customer at this time, because now there is no flow of information and hundreds of offers to buy, see, try. Direct competitors are automatically cut off.

We have no doubt that in the global financial crisis of 2020, most competitors will be forced to cut staff, take loans to stay afloat.

Services and goods previously needed will be lost in the market. A startup will handle everything.

The presence of ambition and aspiration are excellent advantages that allow you to register a company in 2020-2021.

SECRETS OF A SUCCESSFUL STARTUP FOR 2020-2021

I wonder what is recommended for startups for rapid growth in the near future? A universal formula capable of ensuring success for absolutely everyone does not exist.

But there are four components (minimum number) of a business. We are talking about analgesic business ideas, a star team, enough funding and new methods to attract the target audience.

It is worth examining each component in more detail and understanding how it affects the successful development of a startup in 2020-2021.

STAR TEAM

Crisis is the best time to search for specialists with the mind and talents of business development. In stability, finding pros is almost impossible. But not at this time.

In a crisis, millions of people lose their jobs. Those who had the opportunity to work remotely switched from open space to a home computer. For the first time in the last five years, you can find employees who can work remotely, out of the office.

SEARCH FOR FINANCE

Heralds of the crisis apocalypse say that in 2019 it was much easier to find a patron or go to a venture fund to find money for projects. The condition was not difficult – to make a presentation of 10-20 slides and pages.

You could become a happy owner of a sum of several hundred thousand dollars and work on. California was considered a particularly tidbit, where a lot of time and money is devoted to talent search.

It was there that they raised $ 120 million and made a machine that squeezed the remaining juice out of a plastic bag. “Amazing” and “amazing.”

SEARCH AND EXTENSION OF TARGET AUDIENCE

The smaller the market, the more non-standard and interesting decisions you have to make to promote goods and provide services to potential customers.

There are many examples of marketing cases of companies that began operations in the financial crisis.

In addition, a startup must be sure that there is a circle of people experiencing an urgent need for certain products. But, if nothing is foreseen, and people live quietly, then one should not rush to the implementation of such a project.

During a crisis, it is worthwhile, first of all, to show sharpness of mind and creativity in order to find and attract as many new buyers as possible.

It is necessary to work in such a way that 100 people would like the product and want to buy it first (do not have to follow up with 10,000 customers). This is only in the first year.

If you approach the matter responsibly and take into account every detail, then over time there will be a hundred people (no matter what year it is – 2001, 2009, 2021).

A NEW BUSINESS IN CRISIS – IS IT WORTH OR NOT?

Business has existed, exists and will exist. During the crisis, the most promising companies created in unstable times survive, as evidenced by the results of the Fortune 500 study (57% of companies are successful today).

In addition, “bear markets” occupied only 30%. That is, if a startup starts a business in a crisis, then he has more chances for victory and success.

The cost of entering the market and other industries always fall during a crisis. However, with a fall in consumer demand, businessmen with new and creative ideas will always survive and become real “unicorns” in their industry.

HOW TO CHOOSE A COUNTRY FOR REGISTRATION AND DOING BUSINESS?

First of all, you should look at the target audience. Then you should pay attention to countries theoretically interested in goods and services.

Such measures will help to analyze the situation and understand whether business in a particular state can grow. This will allow you to immediately take the right path, paint revenue growth, attract investors, increase efficiency.

Then you need to explain where the product or service will be created. The moment is very important, because the establishment of the production process, the attraction of key investors, and the protection of assets from acquisitions and interceptions depend on this.

Therefore, it is recommended that you select countries that have accepted English corporate law from the list. It is considered the most reliable and effective. It guarantees safety to owners, ensures the purity of transactions.

The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.

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