Planning a new market entry - avoid a Waterloo!

Posted on June 06, 2013 by Emer O'Donnell

planning a new market entry

We recently published an article on how planning a new market entry can help avoid a Waterloo. In the article we talked about the battlegrounds a CEO needs to consider when approaching a new market. There are myriad questions which need answers when you are planning a new market entry - yet in our experience there is often a common bias at play, which may lead to poor decision making.


Here are some common biases we see in market entry decisions - and some insights on how to avoid them.


Questions to ask

Common Bias Insight 
  • What are core assumptions about market?
  • How do we test them?
  • How detailed are our cost estimates?
  • How we ensure we can afford to compete and win?
  • How committed are the senior management team - and board?
  • Soft third party data or research reports.
  • Fear of declining sales in existing markets driving behaviour.
  • Be rigorous in creating testable planning assumptions.
  • Plan that it will take twice as long to win as you think.
  • Have the courage to challenge all stakeholders on true commitment.
Selected Customers
  • What market will we target?
  • Are we looking at a new geography?
  • Knowledge about customers in existing markets will translate
  • Challenge existing models of target customers.
  • Assume nothing, test assumptions rigorously.
Measurable Value
  • What is our unique value proposition and what business model should we build?
  • Do we have the necessary capabilities for success in the market?
  • Considering existing capabilities and propositions as the determining factors for success.
  • Appoint a devils advocate.
  • Assume that current capabilities and propositions will need to be strengthened.



Posted in: Market Entry