6 Ways SME Leader’s Role Changes When Growing Internationally
Remember what it was like when you first opened your business? You had a plan and goals. There was excitement and uncertainty. Your role then was probably very hands-on with everything. And here you are today. Maybe you have always had your eye on expanding internationally. Quite a few SME owners and executives of Irish based businesses tell me about the challenge of growing within Ireland and seeing the limits of strictly focusing on this national market. Thus, they look for markets in Europe, the UK or the US. But there is more than finding your target client in a new market. There are some ways that a leader’s role changes that may be unexpected, even when expanding internationally was the plan all along.
Most common role change for small to mid-sized leaders
- Adventure4- Before any growth, there is some predictability to leading your company in its current size. Notice the thrill when you’re planning and implementing steps to grow your small to mid-sized business in another country
- Delegator- This is essential to being able to focus on all the details needed to grow in a new market. It includes knowing what you are best at, the person(s) on your team with specific skills and developing trust in letting your team members do their jobs.
- Communicator- With all the travel and meetings involved in growing your business in another country, it is important to clearly set your expectations for both the home office and the foreign office. Plus, regular check ins support your availability for our team’s questions, timely decisions and general relationship maintenance.
- Newbie (Exposed to different ways to do business)- Meetings, schedules, meals, entertainment and communicating via email or phone can have minor to major differences. This is an opportunity to learn something that makes you better as leader and manager of your organization.
- Start up status (2nd time around)- Go from being established with a reputation, credit and stability to start up status could make you feel off balance or frustrated.
- Missing the familiar- Being in a different country can be both exciting and foreign. There are different smells, flavors, sights, sounds and behaviors. It is not uncommon to feel homesick at times. Learn where to find food and expatriates to bridge the new with the familiar.
Good time to use the CEO Mindset
With the CEO Mindset, there is an awareness encompasses both you and your new environment. It is important to know how much you can handle in terms of going from one meeting to another, spending time at networking events and being away from home. There is also the part where you need to know any skills gaps regarding communication and delegation that you might have. There are a lot of details to keep track of and using the CEO Mindset allows you to be patient with yourself while you are exploring and learning. Your role will change. Others will treat you differently. You will see yourself differently. Be confident, do your preparation and enjoy the experience!
Related post: 8 Tips for Expanding in the US For Irish Small Business