After working for so long with clients on issues like this, we at Renarc believe that if you really want to get it right first time, a practical, "common sense" approach, combined with realism and a lot of confidence can do a lot to make setting up business overseas more successful. Here is a checklist of ten points for you to follow when taking decision to enter new international markets.

1.Start by defining your motives for going international. Make sure there is a compelling business argument for developing your business overseas. If your business is not working at home, then going international is not a solid justification for overseas expansion. In fact, it will not make matters easier. However, a well-established and successful domestic business that is exploring ways of increasing market share by going global is a good foundation.

2.Have you researched your markets? It may be tempting at times to simply to "jump into" new international markets, by following your client's overseas expansion. This approach may bring in short term gains, but it is a high-risk strategy. Make sure you base your new international market entry on solid research that defines new clients and markets you can realistically win overseas.

3.Have you looked at all alternative methods of market entry? It could take up to 18 months to establish a strong overseas presence, and you will need to choose a cost-efficient market entry mode that is right for your company in long term. Are you aware of all market entry alternatives to export, such as licensing, franchising, organic growth overseas, acquisition, and joint venture? Have you chosen one most suitable for your firm?

4.What is your fallback strategy if things go wrong? Mountaineers plan escape routes off a mountain well in advance of starting their expedition should things go wrong. Equally, you should plan best and worst case scenarios for your international expansion, and always plan an "escape route".

You start to create a global or international mindset very moment you take your decision to enter new international markets. Even before you have decided on a route to market, timescales, budgets and sales targets, your global blueprint starts at very centre with your decision to do away with one major assumption – what works back home will apply in international markets. Don’t start with this, and you risk opening Pandora’s box even before you have achieved any success overseas.

So how then should you start to build this mindset inside your company? A global mindset can be seen as a “state of mind” - your firm’s ability to perceive both differences and commonalities between different international markets when embarking on expansion. Start by identifying an “international champion” within your firm who can help you manage your expansion. Secondly, develop a program for attracting, hiring and retaining top international talent with seasoned international skills to ensure your success. Thirdly, put in place a training budget to help your staff prepare for overseas assignments. And finally, make sure that you have at forefront of your agenda an effective international human resources policy that help you retain your international talent.

Global expansion is all about effecting change. Therefore your international champion should be a senior manager, director or VP of your firm, capable of driving and implementing that change both across and down your organization as it is implemented. But this is simply not enough in itself. You are also ideally looking for somebody with long and sustained first hand experience of complexities of doing business globally, somebody who has lived and worked at coalface in a variety of different cultures, is uniquely familiar with differences in business cultures, and ideally, can speak a few languages. If this sounds like looking for a needle in a haystack within your organization, you may find you’ll need to source this individual externally.

Either way, a recruitment program to attract international talent into your firm should be at top of your list. If you are looking for English-speaking candidates, make sure you candidates’ levels of international experience shines through on their resumes. In an age when supply of candidates exceeds demand, it is often tempting for candidates to “inflate” their resumes a little more to get job. Make sure that you drill down into resumes, question level of international experience and qualifications, and always obtain references. And watch out for people who say they speak “fluent”. Since language skills should go with territory, and since you’re paying top dollars for your international talent, always ensure that fluent really means fluent, be as harsh as that, so make sure that you have a resource to check language skills. All too often, candidates claim they speak a fluent language, but put them in front of a client, and they can just about order a pizza. Your are hiring people to do business beyond your borders, so “fluent” means being able to hold a steady conversation with your clients and partners without having to fall back on native language.