With very few exceptions, a company’s internationalization projects tend to require much more investment and time than initially estimated. In many cases it will be necessary 2 or 3 years before having results that confirm the success of the initiative. In order to have a realistic forecast, it will be necessary to complete an initial study that gives us the necessary information and allows us to define a strategy that we can use to obtain a reliable plan and budget.
All costs should be included, including human resources, required investments, costs of external consultants, licenses, lawyers and accountants, offices, travel, and a long list of factors. Careful financial planning will be needed to ensure project continuity even in less optimistic scenarios.
But it is also essential to take into account in the decision the intangible benefits of the project. Entering prestigious markets like the US has a multiplier effect and helps the brand globally. Similarly, the presence in the US can give access to sources of human and financial resources of enormous value to the company. The opportunity cost of not acting should also be considered if we are not taking advantage of options that can be exploited by competitors, which could allow them to grow and snatch some of our home market in the future.