It goes without saying that businesses face challenging times ahead – more so than ever before.
But right now, many industries face a period of rapid evolution which will create huge opportunities for innovation.
With this comes more exciting ways to get your business on the global map. But how do you get started? And what does a globalised business model look like?
These are just three business models for budding global entrepreneurs that could launch your business into a global future.
1. Domestic: Traditional
Sometimes traditional is best.
Setting up your base in a physical office is a great way to keep an eye on your operations and team, particularly if you’re starting out. A physical working environment gives you somewhere to bounce ideas around with like-minded individuals and adds legitimacy that is crucial when it comes to dealing with clients.
And if you’re looking for ways to globalise, exports are a sure-fire way to gain a little overseas traction and build brand awareness. Alternatively, once you have a successful blueprint established, why not roll out your model as a franchise?
2. Domestic: Modern
As everything switches to digital, the modern business model is going to look very different in the next few years, and this could be excellent news for your business.
Working with a remote team is great for digital companies who aren’t particularly customer facing, including B2B firms.
A remote team also gives you the advantage of tapping into international talent pools. This not only offers you more choice when it comes to hiring, but also gives you access to individuals who can provide unique insight into markets across the globe.
In addition to this, there are certain practical benefits to hiring remote teams that are efficient no matter what your business model looks like.
3. International: Investment
There is much more to this model than meets the eye.
Countries like Portugal offer so-called ‘citizenship by investment’ schemes which grant investors a Golden Visa. These are basically residence permits that give holders the right to live, work and trade in the country.
Globalising in this way can open up a whole host of business opportunities, not least of all because Portugal is a member of the European Union, meaning that the Golden Visa in Portugal grants holders living and working rights across the EU.
It’s open to anyone who is not a citizen of the EU or EFTA, and the investment requirements are fairly accessible.
The most popular option tends to be property investment. This can start from around €350,000 in some regions, making it amongst the more accessible investment choices. Real estate experts Property Lisbon are well versed in helping first-time investors finding the right property for them.
The Golden Visa requires only a minimum amount of time spent in Portugal, making it a highly flexible option that opens doors on the global map without requiring you to relocate completely.
