Successful market entry is a challenge, whether you are a tiny startup seeking your first market, or a more seasoned entrepreneur searching for growth. In fact history tells us that for every four attempts only one is successful. With these daunting statistics it makes sense to prepare as best you can.
Taking on a new market is an issue that affects all parts of the business and poses numerous challenges - understanding the market, identifying partners, appraising the competition, recruiting suitable staff etc.
In our experience, all companies, regardless of sector, need to consider the following five questions when considering new market entry:
- What do you want to be famous for?
- Who are your selected customers?
- Where is your measurable value?
- Why should customers choose you rather than the competition?
- How will you get your product to market?
In our upcoming 1 day workshop with Enterprise Ireland, I will take participants through a series of tools and exercises to help answer these questions. We'll take a hard look at the competition, challenge you hard on your assumptions and consider what SMART next steps you should take.
If you are interested in joining us visit: http://bit.ly/11Ikf3b to find out more.