In this episode, Networking Star host Jeffery Boyle interviews with Pat Berry, a very successful network marketer and an expert consultant that has successfully helped many companies expand into Asia.
Pat said that a big challenge is that often a company really only has one shot to open in South East Asia and if they do it wrong, they have lost their golden opportunity. They can still fix it, but three times more difficult to fix it and get it right.
So the lesson is it’s a home run if done right but a major strike out if not done correctly.
Jeffery asked Pat, what his perfect scenario as a consultant would be to expand into South East Asia right. These were a few of his key points.
- He would find a good general manager – they are more important than they are in the U.S. market.
- He would need a decent budget. (You can expect to invest 300,000 to a million USD before seeing any decent return on the investment, he said.)
- He would ensure the commitment level from the company is there too. They would need a regional office, they would need to get all the licensing done, get their products registered with the FDA, and have the executives and top leaders willing to travel to the region.
- And most importantly, he would expect a commitment to do it right and not to take any short cuts.
The countries he recommended avoiding were Singapore and Hong Kong. Many companies start there because they are pro-English and like Americans, but they forget that Hong Kong is as expensive as New York City. It’s like trying to market to the people that live in Manhattan. They already have made a million dollars and that’s why they can live there. They aren’t interested. Singapore is like this as well.
His favorite country to expand into is Malaysia. He listed off several reasons, including that it’s in the middle of the income spectrum. The people there aren’t experiencing significant poverty like Indonesia, Thailand and the Philippians, and they are more educated.
If you are interested in seeking Pat to learn how to expand your company into Asia, you can use the coaching web form on his website at http://patberry.com/contact.html and mention you are interested in his consulting to help you expand to Asia.
Watch the blogcast for more!