Maarten de Jeu has spent a career working to get businesses ready to make the leap from their home country to new markets elsewhere. He was first in his class at the University of Oxford, and took his MBA to a number of different countries, working with businesses across national lines. Today, as the founder and head of SVM Advisory, de Jeu is eager to guide businesses through the daunting process of tapping into a new market and has quite a bit of advice worth sharing.
If a business is seriously considering undertaking the task of company expansion, they ought to know how their brand registers with customers and partners elsewhere. Maarten de Jeu does not encourage businesses to rest on their laurels, but to gain perspective on how they fare against other companies in the same industry in that market. They’ll have to be prepared to make a good first impression, and using their good reputation from back home may not suffice. Instead, he recommends investing in production, making sure that products and services don’t compromise quality in the new market.
A reputation goes a long way for any business, but to have lasting power in any market they’ll need good relationships. For Maarten de Jeu, a string of solid relationships speak well about a company’s overall brand, and it gives them places to export goods to that new market. It’s also a good idea to use a company’s good reputation to recruit at the local level, giving the company expertise that’s pertinent to the new market.
For a company to take its business to a new territory, there’a great deal for them to learn a contend with. Of all the things to consider, de Jeu says that one thing that can’t be overlooked are the many regulatory considerations put in place by governments. With the assistance of local counsel, businesses can make sure they’re on the right side of taxes and controls that can stand in the way of exports reaching their destination.
Expanding to new markets is also quite expensive for businesses no matter the size. If they’re lacking in capital, the business might find it hard to continue. What Maarten de Jeu recommends his clients do is look for new shareholders and investors who can provide the capital necessary to proceed with expansion while the business drums up some revenue in the new market. Learn more: https://mrmaartendejeu.wordpress.com/about/
While any good business has to be open to change to keep on functioning, by going to a new market they’re entering into a new dynamic situation that introduces more variables than before. For this reason, Maarten de Jeu urges business owners to really embrace flexibility when making decisions and approaching challenges, leaving them open to a reaction to changes as they come and meet the goals needed to succeed.