In today’s rapidly evolving world, businesses must strive to be globally-minded if they hope to expand their horizons and succeed in the international market. Scott Dylan, the co-founder of Inc & Co, has long championed the importance of a global mindset for entrepreneurs seeking to grow their businesses overseas. In this article, we delve into Dylan’s perspective on international expansion and explore the various ways in which a global mindset can lead to success on the world stage.
A global mindset is characterised by an openness to new experiences, an ability to adapt to different cultures, and a willingness to learn from people of diverse backgrounds. For Scott Dylan, cultivating a global mindset has been a cornerstone of his business strategy, and this approach has played a pivotal role in the success of Inc & Co.
Founded in 2019, Inc & Co acquires, invests in, and turns around distressed companies, saving jobs, preventing creditor losses, and creating growth. The company operates globally and boasts a turnover of over £150 million. Scott Dylan, along with his business partners Jack Mason (Group CEO) and Dave Antrobus (Group CTO), has led Inc & Co to acquire companies across various sectors, such as professional services, travel, retail, e-commerce, and shared workspaces.
Scott Dylan is no stranger to adversity. Born and raised in South East London, he has overcome numerous challenges and learned from his mistakes to become the successful entrepreneur he is today. With a 20-year career under his belt, Dylan has held senior leadership roles and has demonstrated a unique ability to turn around distressed companies, despite the difficulties involved in dealing with challenging suppliers, employees, customers, and even negativity from journalists.
In a recent interview, Scott Dylan emphasised the significance of a global mindset in expanding business horizons:
“A global mindset is essential for any entrepreneur looking to achieve success on an international level. It’s about being open to new ideas, embracing diversity, and recognising that the world is an interconnected place. It’s not enough to simply focus on your local market; you need to look beyond your borders and adapt your strategies to cater to different cultures and markets.”
Dylan’s approach to business is deeply rooted in his appreciation of people and cultures. As an advocate for mental health and a firm believer in supporting women in business and technology, he strives to create inclusive work environments that allow for the growth and success of diverse individuals.
Inc & Co’s track record is a testament to the power of a global mindset. The company has successfully turned around a number of businesses, including MyLife Digital, which was sold to Dataguard, Laundrapp, which was sold to competitor Laundryheap, and Wood for Trees, which was sold to Edit Agency. By fostering a culture of inclusivity and understanding, Scott Dylan and his team have been able to transform struggling businesses into thriving enterprises.
So, how can entrepreneurs develop a global mindset to expand their business horizons?
- Embrace diversity and inclusion: Encourage a diverse workforce and create an inclusive work environment that fosters creativity and innovation. By valuing different perspectives, businesses can unlock fresh ideas and approaches to problem-solving.
- Seek opportunities to learn: Actively engage in learning about other cultures, languages, and business practices. This can involve attending international conferences, participating in cultural exchanges, or simply engaging in conversations with people from different backgrounds.
- Adapt your approach: Recognise that what works in one market may not work in another. Be willing to adapt your strategies and offerings to cater to the unique needs of different markets.
- Build a strong, loyal team: Surround yourself with talented individuals who share your vision and values. As Scott Dylan has emphasised, success is not a solo journey, and having a team of loyal people who you can rely on is vital to achieving your goals.
- Keep an open mind: Be receptive to new ideas and approaches, even if they challenge your established way of thinking. This willingness to adapt and evolve is essential for staying competitive in the global market.
- Foster collaboration: Encourage collaboration and cooperation between your team members, regardless of their location or cultural background. Utilise technology to bridge the gap and facilitate communication, ensuring that your team remains connected and aligned.
- Network internationally: Forge connections with business leaders, mentors, and peers from around the world. These relationships can prove invaluable in providing insights, guidance, and opportunities for growth.
- Stay informed: Stay updated on global trends, developments, and emerging markets. By keeping a finger on the pulse of the international business landscape, you can identify new opportunities for expansion and growth.
A global mindset is crucial for entrepreneurs looking to expand their businesses internationally. Scott Dylan’s success in turning around distressed companies and creating growth at Inc & Co serves as a shining example of the power of embracing diversity, learning from different cultures, and adapting to new environments. By cultivating a global mindset, entrepreneurs can not only broaden their horizons but also make a positive impact on the world stage.