The World is Constantly Changing
And friends, you better be ready for it. New markets emerging, mature markets going through huge changes. We find the key to successful international business is the “people on the ground”. There is no way you can have an intimate knowledge of the trends, needs and desires of a given overseas market without being a part of the daily lives of the potential customers and/or clients.
There are parts of the world wherein your local partner or representative must be politically connected. Matter of fact in many places, this is the only thing that counts. Societies in other parts of our world do not work like the U.S. While there are laws against out and out bribery, a solid political connection and the right business partner can work wonders in certain overseas markets.
The large emerging markets such as India are the most fascinating. When you have the second largest population in the world and half of them are under thirty five years of age, determining needs, desires and potential can be fascinating and getting it wrong can be costly. The fastest growing franchise in India? Health Clubs. The divide between generations is greater in both China and India than anywhere else in the world.
Viet Nam is a nation struggling to become the “Non-China” in Southeast Asia. It is having a rough time of actual interactive business because of the Communist Government and lack of education and experience in international trade and commerce. While their garment factories are extremely active – there is no innovation or high-tech breakthroughs coming from this nation. Cheap labor abounds, but no one nation can long keep that advantage.
Trading Wise keeps a pretty close pulse on all markets wherein we have relationships and that translates into successful business partnerships.