Situation: A company has been approached by an international business development specialist who wants to help them expand into Asian markets. The company would need to hire local resources to support business that was generated. Most of this would be cookie cutter as opposed to creative work. How do you work with an international business development person?
Advice from the CEOs:
- Research the country markets where the specialist can help you and focus on the more developed and promising markets first.
- If the specialist that has approached you has a local presence in the markets in which you are interested, lean on this person for help getting you started – office space, staff support, and so on.
- One company started a subsidiary in Canada. The CEO believes that you must have a highly trusted person to own the project. Success is all about the relationship with this individual and their knowledge of both local and American culture.
- Another company hired very promising business development person for a large Asian market. As the relationship progressed, they found that this individual was double dipping – working for them and their competition at the same time. Apparently this is acceptable in that culture.
- Many cultures are relationship based. Local contracts are critical. Does your specialist possess these, and are they premier companies or also-rans.
- Talk to individuals in your industry who have experience in the region.
- Have your eyes open and recognize that this is will not be a quick process.