Foreign market entry strategies will help you develop a detailed plan for Global Expansion.
We find that far too many of our clients lack a coherent international strategy.
Many companies approach foreign market entry strategies from a reactive, opportunistic angle – they receive an enquiry through their website from a particular country and then that territory becomes their main overseas focus. On reflection though that territory might be completely inappropriate, offering little potential beyond the initial enquiry and draining precious senior management bandwidth from other more pressing corporate issues or from countries with much greater potential.
Or maybe they meet somebody on a Trade Mission who promises the earth. A distribution agreement is agreed; targets are set but over time very little is actually delivered. The client then finds the original distribution agreement difficult to terminate and is effectively locked out of what could have been a very lucrative market.
We like to work closely with our clients to help them avoid these types of classic mistakes and to help develop a solid, achievable and stepped global expansion strategy. We like to look at the client as a whole, understand their structure, products and capabilities before developing a detailed short, medium and long-term plan. We believe it important that each step on the international journey is validated and we build key milestones into any plan to ensure that all risks are minimised and opportunities grasped.
Our preferred approach is to have an initial meeting to find out about the potential client before moving on to running a ‘Global Strategy Workshop’ with key executives. This workshop focuses the minds and produces an initial high-level plan which we will then develop into a more detailed operational model with costings and timelines. The fees associated with this stage are relatively modest but the long-term rewards can be huge.