International Deal Lessons

Acquiring VS Starting A New Company

A good way to think of acquisitions vs starting a new company is to look at it as just buying your ideal customer. Wendy already had a love for translations and a deep understanding of why cross-cultural communication requires delicacy in business. What Wendy was really buying was their book of business and an avenue to pursue her passion.

Wendy made a great point about what went into her decision to buy a business that the success rate of new businesses is low. In contrast, the rate of success of a business continuing after two years is high. She’s right! The business failure rate in the U.S. within the first year is nearly 20% — 18.4%, to be exact — according to a LendingTree analysis of BLS data.

Business Internationalization

Lessons From Report International

Wendy explains that working with translations specifically means anything written. Interpretation means anything spoken. In Report International, they start with the company’s strategy, define what they want to accomplish, and go all the way through providing an in-person interpreter, telephone interpreting, or video interpreting.

Lessons From Wendy

Closing an International Deal The Right Way

As an example in Report International, they work in over 200 different languages. The translators or interpreters have to be fully bilingual, as well as understanding the culture and business practices to close a deal.

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