“The key to making money in this context, then, is understanding the financial structure of your business.”
Source: Go Glocal: The Definitive Guide to Success in Entering International Markets
“Measure twice, cut once applies as much to international strategy as it does to carpentry.”
Source: Go Glocal: The Definitive Guide to Success in Entering International Markets
“In international business, the local dimension is not just another variable but the lens through which the whole venture must be viewed.”
“What really counts in a new market is not your past successes but your adaptability and learning capacity.”
Source: Go Glocal: The Definitive Guide to Success in Entering International Markets
“Joint ventures thrive not just on paper agreements but on shared visions and complementary strengths.”
Source: Go Glocal: The Definitive Guide to Success in Entering International Markets
“The spectrum of market-entry vehicles is vast, from short-term plays using domestic distributors to sell internationally, to long-term strategies like setting up foreign operations. Understanding the cost, risk, and time commitment involved as you move along this spectrum is crucial, as it determines not only the potential return on your investment but also the complexity of disengagement should you choose to exit the market.”
Source: Go Glocal: The Definitive Guide to Success in Entering International Markets
“I've learned about this need for communication and connection with different departments from personal experience; in fact, this is one of the areas in this book where my knowledge comes not from my success, but from my failure. Fairly early in my career, I had the credit manager of our company come into my office with his hair on fire, wanting to know why I had just agreed to a distribution deal that had 120-day terms. If I'd been thinking further ahead and discussed it with him beforehand, this wouldn’t have been an issue. Fortunately, we talked it through and made it work, but it took some begging, genuine understanding, and empathy to make sure I could repair that relationship.”
Source: Go Glocal: The Definitive Guide to Success in Entering International Markets
“The last great hope of humankind, I believe, lies not in governmental interventions or global treaties but in international business. It is here, in the web of personal and corporate relationships that crisscross borders and time zones, that we find our best chance for a peaceful and prosperous world. Every hand we shake, every deal we close, every bridge we build between cultures and economies holds more promise than a hundred resolutions passed in the halls of the United Nations.”
Source: Go Glocal: The Definitive Guide to Success in Entering International Markets
“The complexity of managing an international business can be likened to playing a game of chess on several boards at once. Each country represents a different game board, and each move you make has consequences not just on that board but potentially affects the others. The successful international manager must therefore be a master of strategy and an excellent multitasker, constantly aware of changes on multiple fronts.”
Source: Go Glocal: The Definitive Guide to Success in Entering International Markets
“As we explore the strategies for entering foreign markets, it becomes apparent that the differences in legal environments, cultural norms, and business practices require a high level of adaptability and foresight. For instance, what works in one country might be completely ineffective or even illegal in another, making the need for localized knowledge and expertise paramount.”
Source: Go Glocal: The Definitive Guide to Success in Entering International Markets