David Ofosu-Dorte, a Senior Partner at AB & David Africa, recently shared valuable insights on how businesses in Ghana can successfully transition from local to global markets.
During a segment on the Breakfast Daily show on Channel One TV, Ofosu-Dorte discussed the theme “Resetting for Success: From Local to Global” and highlighted three key perspectives that businesses should consider before expanding internationally.
According to Ofosu-Dorte, businesses seeking global reach can be categorized into three groups.
The first group includes businesses that may not be ready for global expansion yet, but understand the importance of adopting a global mindset. This involves ensuring that managers and staff align with global standards and developing products that meet international expectations.
The second group consists of businesses that sell globally without a physical presence. These companies typically utilize online platforms and social media to reach customers worldwide, without the need to establish physical operations abroad.
The third group comprises businesses that establish a physical global presence by setting up factories, industries, or franchises in other countries. Ofosu-Dorte emphasized the importance of strategic planning and having a clear vision for long-term success for businesses in this category.
In addition, Ofosu-Dorte advised entrepreneurs to align their personal goals with their business ambitions before pursuing global expansion.
