The entrepreneurial spirit is strong. In 2020–a year filled with pandemic challenges–4.4 million new companies opened their doors. That’s a staggering increase of 26.9% over the past decade. Making these new businesses profitable for the long term is a challenge. Only 2 in 5 of those startups are profitable, and the U.S. Census Bureau estimates only 51.3% make it past the 5-year mark. As a result, it’s critical for new startups to use every tool available to be successful, including going global.
Going global as a strategy for startups isn’t new. In 2013, the Harvard Business Review published an article by Michael Fertik recommending startup businesses go global from the beginning. “The whole world is fast becoming one market–and money is a universal language uniting all, whether you’re selling in China, marketing to the French, or closing a deal in New York City.” According to Fertik, companies that don’t go global miss out on two-thirds of their available customers.
In a recent Forbes article, Farad Zabetian, global business technologist & CEO of KUDO, backs this recommendation with his own experiences over the past decade. According to Zabetian, “With all the competition and challenges expected when starting a business at first, going global may feel out of reach. However, the rewards beckon, from multiplying your revenue streams to building a genuinely world-class brand.”
He offers a series of “lessons” from his experience. At the top of his list is developing open doors of communication with people in the foreign markets and developing partnerships with human translators to assist you throughout all stages of business. Professional translation services for startups are critical.
Zabetian is clear, relying on automated translation software is not sufficient. “AI cannot write a killer business plan. Algorithms don’t cure cancer (not yet). In the translation business, you need real people.”
In fact, globalization strategies go beyond basic translation services for startups. To be effective, startups need to consider localization, too. Language localization ensures the content in a foreign market resonates well. Good localization is essential, so international clients understand your products, feel respected by your organization, and develop high trust in your company. Partnering with a professional translation firm that employs humans to perform translation will ensure your marketing content is appropriately localized.
The best way to set your new startup for global success is to partner with The Perfect Translation.
At The Perfect Translation, we only use real, live human beings to perform your essential translation work. We believe the most accurate translations are generated by professionals who have industry expertise as well as proficiency in the target language.
All of our translations are performed by pedigreed linguists holding a variety of certifications and degrees. We are proud to provide certified and notarized document translation services for all document types associated with immigration, business, real estate, financial, academic, legal, and medical industries. Contact us today for a free quote!