Local expertise plays an important role at market entry

culture and values Jan 20, 2023
 

Using and paying for local experts when entering a new market can be more profitable than do it yourself for several reasons:

1) Cultural understanding: Local experts have a deep understanding of the culture and customs of the market, which can help a company navigate the complex social and business norms of the region.

2) Language proficiency: Local experts are typically fluent in the language of the market, which can help a company communicate more effectively with customers, suppliers, and other partners.

3) Network of contacts: Local experts often have a wide network of contacts in the market, including potential customers, suppliers, and other partners, which can help a company establish itself more quickly in the market.

4) Legal and regulatory knowledge: Local experts are familiar with the legal and regulatory environment of the market, which can help a company avoid costly mistakes and comply with local laws and regulations.

5) Cost savings: Hiring local experts can be more cost-effective than sending employees from the home country, as they already have the knowledge and expertise of the local market, reducing the need for extensive training and support.

Overall, local experts can provide valuable insights and connections that can help a company succeed in a new market.

PS Online courses is a great way to get access to local expertise

Business intelligence is essential when preparing for a Go To Market Strategy.

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