Business Fit Magazine October 2019 Issue 2 | Page 22

Business
value at a lower price. For example, a company
which manufactures a product in China may
have lower labour costs than a company which
manufactures in the U.S., so it can offer an equal
product at a lower price.
After the advantages of internationalisation, let’s
talk about how to go international. There are
various ways to enter a foreign market. Most
common market entry strategies are:
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Export: In theory, the easiest step to enter
a new market, is to start with exporting.
Production sites and offices remain at
home, products are simply shipped abroad.
Making use of modern-day technology
like Webshops, involves little risk and easy
expansion of customer base.
Cooperation’s, Franchise, Licences: with an
already existing and successful product /
service you can enter a foreign market with
risks that can be overseen
Sales offices in countries you want to trade:
advantage is that you can hire local staff
which has knowledge of culture and local
conditions
Production sites in countries you want to
trade: here it is similar to the point above.
To have a local production site helps you
also to get access to local raw materials, and
this can have a great impact on your cost
calculations.
Summary:
Bringing your business to another country is fun
and rewarding (personally and financially) but
it needs to be done with care. Proper planning
and market knowledge are important because as
with people, you seldom get a second chance for
making a first impression in a market.
- Take your time but also do not
lose momentum
- Have a strategy
- Ask experts such as us
We, Maike and Lilli, have extensively worked
in different countries and gained intercultural
knowledge and deep insights of them. Those
range from native experiences in Germany
and Russia, to student, travelling and working
experience in Australia, Canada, Ireland, North
and South America, Egypt, Eastern Europe.
Speaking many languages, knowing cultures in
depth Malish can support with tips, management
of your corporate expatriate services and
international expansion.
malish.global/about/malish-international/
Independent of the market entry mode, the
strategy and the WHY needs to be clearly defined.
A brief overview and questions companies need
to ask themselves:
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Why do I want to go abroad?
Do I (we) speak the language, are familiar
with the culture?
Will my brand/marketing and name work
abroad? (the English word “mist” could be
an interesting product name yet in German
“mist” means rubbish and thus might be
counter-productive)
Have I conducted a market analysis
(competitors, customers, channels, costs)?
Do I have legal, social, work related advisors?
Which official contact point can help me?
Like Chamber of Commerce, trade agencies,
consultants
As with people,
you seldom get
a second chance
for making a first
impression in a
new market
Lilli Rohde Co-founder MaL!ish, Business Strategist, International
Speaker and International Coach, Lilli managed international sales teams,
implemented systems, tools and processes on a global scale and launched
successful products in her time within the Food and Beverage industry.
Maike Benner Co-founder MaL!ish, Business Strategist, Finance Expert
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and International Speaker, Maike has supported, managed and led various
projects in her professional and volunteer life. Her analytical, communication
and project management skills have made her an expert in the field of system
implementation, workshops and trainings.
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