New markets - a huge opportunity for business growth
As the world goes global, more and more companies are looking to find opportunities to expand beyond their traditional markets and to open up in new, international jurisdictions. While that sounds attractive, we all know that such growth is fraught with challenges, and the only way to do that successfully is to plan that expansion very carefully.
Many government departments, at various levels (national, regional, city and local), provide basic informational capabilities to interested companies, and they do a great job if you fit with their target niche. They usually provide general information, and referrals to people who can provide legal or accounting help, but very few will direct you to local consultants that can be your operational feet on the ground, strategic partners. And we all know that attention to the detail and true local knowledge is crucial to midsize businesses being successful at entering new markets.
Such local connections and operational input is very hard to achieve if you are sitting in your local jurisdiction, make important decisions. Unless you are employing a team locally yourself, what options do you have? Maybe employing full time staff to start is not part of your strategy, or is beyond your means. What choices do you have?
New markets can be reached with local, feet on the ground help
Local, feet-on-the-ground help?
To start, you should be looking for people with diverse capabilities, resources and contacts locally that can help you set things up, know where to go and what to do, so that you don’t waste any time and money. Use people that have diverse skills, that can hire local resources on your behalf to undertake niche tasks and then move on. Most important is not being left alone to fend for yourself when local issues that you are either not aware of (or are new or strange to you) arise.
Yes, moving into new markets has its challenges, but if handled correctly from the beginning with local, knowledgeable and well connected people, you can have a smooth transition, both cost effective and efficient. The local connections are crucial, and while governments can provide valuable high level advice and insight, it really is what happens on the ground that matters. And governments do not go there at all. But we do.
Opening new markets is multi-dimensional
Yes, having a strategic partner that can provide anything from feasibility studies and market research to business development, operations, human resources, door opening, legal and accounting resources as a one-stop-shop, enables you to get things done efficiently. Our organization can do it all for you – from set-up to start-up to ramp up and beyond. Talk to us to find out how we can extend your reach across borders and make your business growth and launch into new markets easy and pain free.
Complete the form on the right or call Neville on 1-844-647-6984 Ext. 1 for more information.
Mastermind Solutions is a multi-disciplined consulting firm comprising of highly experienced professionals. We are committed to attaining the highest customer satisfaction by providing accelerated solutions to your business challenges.
We specialize in Business Growth. We deliver to clients' a sustainable future by helping them define where and how they wish to grow. And then we make that happen, together with you.