Moving your business abroad can open new opportunities. In our hyperconnected world, approaching new global markets is easier than it’s ever been. Still, conducting business globally isn’t without its difficulties – new languages, cultural norms and business customs, if not planned for, might get in the way of a successful international plan. Here are some of the most common mistakes that companies make when expanding across the border – read on to make sure that you don’t end up prey to these common pitfalls.
Not Hiring a Qualified Multilingual Team
It’s tempting to send your seasoned team members abroad to start a new office. They’ve proven their loyalty to the company, their work ethic and their skills. Yet just because they’re successful in your local market, doesn’t mean that they’re the perfect person for your overseas expansion.
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What Happened?
The number of foreign language speakers in the United States has increased an impressive 90% since 1990. There are 38.4 million Spanish speakers reported in the US. The next most common language is Chinese, with 3 million speakers, followed by 1.6 million Tagalog speakers, 1.4 million Vietnamese speakers and 1.3 million French speakers. These populations translate into a new challenge for healthcare professionals and organizations across the nation.