Which Channel?
Recently I was at Manchester Airport waiting for my flight, which had been delayed by 4 hours due to problems with the French Air Traffic Control system. In a busy airport terminal, meetings and calls were out of the question – a stark reminder that flexibility, patience and understanding are key for success in international business. This experience did at least afford me the opportunity to reflect a little.
For companies looking to take their first steps outside of their existing markets, visibility of the runway to new market success is, for many, obscured by a plethora of obstacles: language, laws regulations, tax systems, VAT, currency risk, not to mention time zones, local culture and working norms can seem overwhelming. But for those able to chart their route and get clearance for take-off, the rewards can transform their business.
The International Monetary Fund (IMF) is predicting global real GDP growth of 3.9% in 2018 (1). For the UK, the forecast is an underwhelming 1.6%. No matter what your view is on how the UK’s Brexit negotiations will go, there are undoubtedly large opportunities outside of the UK, and now, more than ever, is the time to make the most of external markets and the opportunities that are available.
There is lots of excellent support out there to avoid pitfalls and take some of the fear of the unknown away, including the Department for International Trade (DIT) (2) and Scottish Development International (SDI) (3), knowledgeable investors and well-networked expert advisors. Where Now Consulting focuses specifically on Sales and Distribution Channels assisting Companies to tap into the latent opportunities help within new markets, emerging business segments and working with executive management to free up time to fully investigate:
- Target markets
- Market entry strategies through acquisition, joint venture, alliance partnerships, distribution models and “green field direct” start ups
- Market analysis to fully understand the market, competition and price points
We all have to accept that at times our flight may be delayed or diverted but, like my trip, once you get there the business can be very fulfilling. Delays also give you time to step back from working “in the business” to working “on the business”. Brexit may cause delays, but it also creates a great opportunity to really think about where you want your business to be in 5 years’ time. Where Now Consulting can help you turn those thoughts into tangible and deliverable business and sales strategies.
(1) www.imf.org
(2) https://www.gov.uk/government/organisations/department-for-international-trade