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	<title>success story Archives - Trade Ready</title>
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	<link>https://tradeready.ca/tag/success-story/</link>
	<description>Blog for International Trade Experts</description>
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		<title>From landed immigrant to entrepreneur and community leader – this is Pernille Fischer Boulter’s inspiring story</title>
		<link>https://tradeready.ca/2018/featured-stories/from-landed-immigrant-to-entrepreneur-and-community-leader-this-is-pernille-fischer-boulters-inspiring-story/</link>
					<comments>https://tradeready.ca/2018/featured-stories/from-landed-immigrant-to-entrepreneur-and-community-leader-this-is-pernille-fischer-boulters-inspiring-story/#respond</comments>
		
		<dc:creator><![CDATA[Pamela Hyatt]]></dc:creator>
		<pubDate>Wed, 07 Feb 2018 17:08:38 +0000</pubDate>
				<category><![CDATA[Featured Stories]]></category>
		<category><![CDATA[Leading the Industry]]></category>
		<category><![CDATA[Atlantic Canada]]></category>
		<category><![CDATA[CITP Designation]]></category>
		<category><![CDATA[cultural competency]]></category>
		<category><![CDATA[culture clash]]></category>
		<category><![CDATA[Denmark]]></category>
		<category><![CDATA[immigration]]></category>
		<category><![CDATA[international expansion]]></category>
		<category><![CDATA[Kisserup]]></category>
		<category><![CDATA[mentorship]]></category>
		<category><![CDATA[Nova Scotia]]></category>
		<category><![CDATA[success story]]></category>
		<guid isPermaLink="false">http://test.tradeready.ca/?p=25674</guid>

					<description><![CDATA[<p>Over the past 25 years Pernille has worked on projects in over 90 countries and six continents. This is her inspiring story about overcoming the challenges of immigration and finding success in international business.</p>
<p>The post <a href="https://tradeready.ca/2018/featured-stories/from-landed-immigrant-to-entrepreneur-and-community-leader-this-is-pernille-fischer-boulters-inspiring-story/">From landed immigrant to entrepreneur and community leader – this is Pernille Fischer Boulter’s inspiring story</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img fetchpriority="high" decoding="async" class="aligncenter wp-image-25678 size-full" src="https://tradeready.ca/wp-content/uploads/2018/02/PFB-Headshot.jpg" alt="Pernille Fischer Boulter portrait" width="1000" height="667" srcset="https://tradeready.ca/wp-content/uploads/2018/02/PFB-Headshot.jpg 1000w, https://tradeready.ca/wp-content/uploads/2018/02/PFB-Headshot-300x200.jpg 300w, https://tradeready.ca/wp-content/uploads/2018/02/PFB-Headshot-768x512.jpg 768w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" /></p>
<p>A harrowing hit and run accident in 2015 that left Pernille battered, but not broken, was the inspiration for writing <a href="https://www.amazon.ca/dp/B077PLP49Q/ref=dp-kindle-redirect?_encoding=UTF8&amp;btkr=1">her memoirs</a>, published in 2017.<span id="more-25674"></span></p>
<p>“As I healed from my injuries, I found myself thinking of the people who helped me over the years. That night in the hospital I had been so afraid I would never get to thank them fully or tell their stories. Writing a book seemed like the perfect way.”</p>
<h2>Growing from strong international roots</h2>
<p>Pernille’s parents spent many years in Greenland where her two older siblings were born. The family moved to Kisserup, Denmark shortly before she and her twin brother were born. This is where she grew up and first developed the outgoing, ambitious attitude that would guide her through her remarkable career and life journey.</p>
<p>Her parents were a very social and welcoming couple, making friends with people from all over the world and opening their home to their diverse group of friends. This had a profound impact on Pernille and her siblings.</p>
<p>This early exposure to the many and varied friendships her parents had was her first introduction to the wider world, and the differences between the world’s <a href="https://tradeready.ca/2017/fittskills-refresher/5-cultural-factors-need-consider-choosing-next-export-market/">diversified cultures</a>.</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote">I learned from a very early age that people from different cultures have different ways of looking at things and doing things, and that differences are something to explore, celebrate and learn from.</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>Over the past 25 years Pernille has worked on projects in over 90 countries and six continents in over 25 sectors. When she founded Kisserup International Trade Roots to give a name to her fledgling consulting company upon moving to Canada, it was the first name that came to mind, and it turned out to be more than fitting.</p>
<p><em>Below (left): Pernille enjoying some unique arctic activities during a trip to Greenland</em></p>
<p><img decoding="async" class="alignleft wp-image-25682 size-full" src="https://tradeready.ca/wp-content/uploads/2018/02/PFB-Greenland.jpg" alt="" width="500" height="500" srcset="https://tradeready.ca/wp-content/uploads/2018/02/PFB-Greenland.jpg 500w, https://tradeready.ca/wp-content/uploads/2018/02/PFB-Greenland-150x150.jpg 150w, https://tradeready.ca/wp-content/uploads/2018/02/PFB-Greenland-300x300.jpg 300w" sizes="(max-width: 500px) 85vw, 500px" /></p>
<p>“When I emigrated from Denmark, my “roots” took on a new meaning. I named the company I established “Kisserup International Trade Roots.” I did this quite intentionally. Roots is not a misspelling of Routes, and it’s not a coincidence.”</p>
<h2>Setting down new roots across the Atlantic</h2>
<p>Pernille came to Canada in 1998, settling in Halifax, Nova Scotia with her new husband, a lawyer and businessman who had set up a manufacturing plant in Bridgewater.</p>
<p>Like many of her fellow immigrants, she had left a successful professional career, credible achievements and a strong financial record behind, and had to start all over – even forced to retake her driver’s test.</p>
<p>“It baffled me and I wondered – why is there no international cooperation or agreement that can bridge the gap? Why wasn’t there any mutual recognition of international experience or qualifications? It was the very first time in my life I felt like a burden to someone, not an asset, and it was not a good feeling.”</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote">Adjusting to the <a href="https://tradeready.ca/2017/fittskills-refresher/avoid-awkward-cultural-faux-pas-proper-research/">different culture</a> in Canada was the biggest thing for me, an area where I would learn the most, fail the most, and eventually succeed the most.</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>“It was only after I moved to Canada that I learned there is no real word for ‘please’ in the Danish language. When I’d mentally translate what I wanted to say in English it would be, ‘Can you pass me the salt?’ or just ‘Pass me the salt’, with no ‘please.’ So, to many Canadians I came across as quite rude.”</p>
<p>“Like most Scandinavians, I was also a direct communicator and spoke my mind frankly. When you ask a Dane if they like your new haircut, they’ll say ‘no’ if they don’t, and that kind of directness takes Canadians by surprise. I went through quite a learning curve in my first few years in Canada.”</p>
<p>During her first few months in Canada, Pernille listened to CBC radio, crediting Shelagh Roger’s show <em>Sounds Like Canada</em> with teaching her valuable lessons about the people, lives, and cultures of her new home. She continues to draw on these lessons today, almost 20 years later.</p>
<h2>You never lose – you win or you learn</h2>
<p>Finding meaningful work in Canada was a daunting challenge as well. After meeting with the Danish Consulate in Halifax, Pernille realized that with limited resources available to her, she would have to take matters into her own hands.</p>
<p>“I realized that my curiosity, resourcefulness, and passion for business were all going to have to help me.&#8221;</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote">My CV and previous experience would not land me a job. I was going to have to find a way to introduce myself.</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>Pernille began writing letters to the top CEOs and entrepreneurs on the East Coast introducing her skills, background, experience and notably, the story of her journey to Canada. There was tremendous opportunity for <a href="https://tradeready.ca/2017/topics/import-export-trade-management/todays-shifting-global-business-environment-view-atlantic-canada/">Atlantic Canada businesses</a> to get involved in European markets, but there was very little interest at the time. In the late 1990s, over 80% of Canadian exports went solely to the U.S. market.</p>
<p>Pernille contacted each of the top 100 business leaders in Atlantic Canada, many of whom were helpful, offering valuable advice and introducing her to other well-connected individuals. Some were less receptive, one even discouragingly asking about her typing skills for a low-level position, despite her years of international business experience. But Pernille was not deterred.</p>
<p>“This experience taught me a valuable lesson: you never lose – you win or you learn.”</p>
<p>Ultimately the experience had a big impact on her career and gave her a great appreciation for the struggles of immigrants trying to make a life for themselves in a new country.</p>
<p>“I resolved to always make time for people. To this day, I spend five to ten hours per week mentoring immigrants, international students and small businesses all over the world. I have implemented a policy at my firm that everyone has to make time for mentoring, and that we will never turn away anyone who asks for a meeting.”</p>
<h2>Hard won success in Atlantic Canada</h2>
<p>Eventually she was able to secure some small consulting jobs, including designing an international brochure for Lord Nova Balsam Christmas Trees and a local blueberry grower looking to expand into the UK. She landed her first long term contract with Hawboldt Industries as a New Business Manager. Despite the significantly lower salary and lack of staff amenities she was used to in Denmark, she was thrilled to achieve her first major milestone as a new Canadian.</p>
<p>This position also came with more than its share of challenges. She was tasked with initiating and growing Hawboldt&#8217;s winch, crane and custom engineering business in the oil &amp; gas industry, fishing industry and shipbuilding and defence industry, all industries she had no previous experience with. These industries were also largely dominated by men, who had little time or respect for those that didn’t share their level of expertise. Fortunately, as in most things, Pernille was persistent and her warm relationships with her colleagues helped her to ease the transition to her new work.</p>
<p>Eventually Pernille began to get a hold on the energy and fisheries industries, making inroads with prominent companies, and the icy reception she had been receiving at many of her earlier sales calls started to thaw. As she learned and gained respect in the Atlantic provinces’ business environment, Pernille was able to orchestrate the acquisition of the present Hawboldt Newfoundland in 2000, turning the company around to profitability – a major feat. She credits much of her early success to her generous colleagues and mentors who helped her develop and reach her goals through their guidance and influence. This experience inspired her to focus Kisserup’s services around capacity building and helping other companies reach their potential.</p>
<p>Driven by her enthusiasm for her community in Nova Scotia, Pernille made the leap into politics in the early 2000s, landing the role of Chief of Staff to the Leader of the Opposition for the Nova Scotia Liberal Caucus.</p>
<p>“The chief of staff position turned out to be both the best and the worst job I ever had. It was the best because I learned so much in just a year, and the worst because I was on such a steep learning curve that I made lots of mistakes. The experience of this job helped me to see how people actually define who they are through politics and how deep an influence politics has on a country and province.”</p>
<h2>Finding the competitive edge to take Kisserup to the world</h2>
<p>Pernille went back to focussing on Kisserup, but despite her expertise and success landing projects in countries all over the world, she wasn’t finding much work locally in Nova Scotia, and she longed for more involvement with businesses at home.</p>
<p>“I wanted to bid on writing export strategy for the province I lived in, to build bridges between SMEs in Canada and internationally, and to influence the economic prosperity of my new home country.”</p>
<p><em>Below (right): Pernille on her way to Europe, a trip she makes frequently.</em><br />
<img decoding="async" class="wp-image-25679 size-full alignright" src="https://tradeready.ca/wp-content/uploads/2018/02/PFB-Airport.jpg" alt="Pernille at the airport" width="330" height="500" srcset="https://tradeready.ca/wp-content/uploads/2018/02/PFB-Airport.jpg 330w, https://tradeready.ca/wp-content/uploads/2018/02/PFB-Airport-198x300.jpg 198w" sizes="(max-width: 330px) 85vw, 330px" /><br />
So Kisserup began the hard work of applying for international development funds for projects , which would allow the company to work predominantly with SMEs, building capacity and making an impact on people’s lives – exactly what Pernille had been passionate about doing from when she first landed in Canada.</p>
<p>In 2008, she decided to further educate herself to provide a competitive advantage for her firm.</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote">I found <a href="https://fittfortrade.com/fittskills-online-courses">the FITTskills courses</a> bridged a very important gap in international business and trade—hands-on trade. It teaches entrepreneurship, logistics, financing, research, marketing, and supply chain management.</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>&#8220;It has a curriculum that no MBA or Master’s program does, it is solely oriented to international trade, and I was able to see firsthand how big of an impact students made in their companies upon completion of the courses.”</p>
<p>“In two clicks of a mouse, exporters could learn what trade tariff might be applied in a foreign market and what import duties they might face. That same year, after completing the program and submitting my application, I obtained the professional certification <a href="https://fittfortrade.com/certification">Certified International Trade Professional (CITP|FIBP) designation</a> and it propelled both my own professional career and my company’s procurement to new levels of success.”</p>
<p>The courses had a big impact on her career and she began teaching the FITTskills curriculum at Halifax’s World Trade Convention Centre. She also helped develop and edit some of the FITT curriculum. Ever since, Pernille has been a leading member of the FITT community.</p>
<h2>Combining personal and professional dreams is a recipe for success</h2>
<p>That same year, Kisserup expanded into Europe, opening an office in Copenhagen, Denmark.</p>
<p>“We could see the sheer size of the EU’s potential market, which included not just the UK, Germany and France. We saw the potential of the emerging markets too, and were one of the few Canadian companies recommending that clients expand to the EU, and not just because my roots were there.”</p>
<p>“However, I recognize now that what drives people personally is often a huge factor in their ability to succeed in business, and when current clients want to expand, we do ask if they have family they want to be closer to, or if there is an old dream to be realized by going to a specific market.&#8221;</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote">I truly believe that if you can combine business with personal desires, it has the perfect potential for success.</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>In 2012 Pernille came across an exciting opportunity to bid on a contract with the Government of Greenland to design training to get small business in Greenland involved in the country’s emerging energy industry. This fit perfectly with the expertise and mandate of Kisserup, but there was only one problem – the project was to be awarded to a Greenlandic company. Instead, Kisserup partnered with a local Greenland company and the project paved the way for them to work on future projects in the country. Once again combining her personal and the professional drive, Pernille opened an office in Greenland in the summer of 2016, a place that has a dear place in her heart and the lives of her ancestors.</p>
<p>It would be impossible to name all of the companies, individuals, development organizations, non-profits and communities Pernille and her Kisserup teams have influenced and impacted through her work worldwide and at home in Atlantic Canada. Through her work with SMEs, charities and <a href="https://tradeready.ca/2015/success-stories/how-right-training-and-mentors-guided-career-greater-heights/">mentorships</a> she has made a difference in people’s personal and professional lives, just as she always dreamed of doing from a very young age. This work has been recognized extensively at home and she was been the recipient of:</p>
<ul>
<li><strong>2007 Women of Excellence Award</strong>, Progress Club Halifax</li>
<li>Nominated for <strong>RBC Canadian Women Entrepreneur Award</strong> each year from <strong>2007-2017</strong></li>
<li>Appointed <strong>Nova Scotia’s SME Representative (SME) Federal Advisory Board, Reporting to the Federal Minister of International Trade and Foreign Affairs.</strong></li>
<li><strong>2014 Top 25 Women of Influence by Women of Influence Canada ©</strong></li>
<li>Appointed to the <strong>Atlantic Growth Advisory Group 2017</strong></li>
</ul>
<p>Despite having seemingly seen and done it all, Pernille is still learning valuable lessons about international business every day.</p>
<p>“I was in the Netherlands, just a few weeks back, doing matchmaking for a Nova Scotia delegation, two Dutch business people said to me, ‘We really do like Canadians, but we like to business with the Americans better’. I was flabbergasted. Truly. I asked them why. They said Canadians are so polite, you never know what they really think. They never really say no, they never really want something, it’s always middle of the road, balanced, no excitement and no rejection. That was news to me. After 20 years in trade, it was an eye opener. But digging into my Danish roots and culture, I actually understood what they meant. Culture is so important.”</p>
<p>When asked if she could go back in time to the beginning of her career and give herself one piece of advice she provided a simple but telling answer.</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote">Get a mentor and BE a mentor! Always ask questions or do the research when you don’t know the answer.</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>Pernille stands as a stellar example of what immigrants can contribute to their new home country, and what a little persistence and positivity can reap for those brave enough to persevere. As she continues to grow Kisserup and serve as a mentor and leader to the SMEs all over the world, we are proud to call her a friend of FITT and an inspiration to the international business community.</p>
<p><strong>Want to get in touch with Pernille and her team? You can reach her online at:</strong></p>
<p><a href="https://www.kisserup.com">kisserup.com</a><br />
<a href="https://www.pernillefischerboulter.com">www.pernillefischerboulter.com</a><br />
<a href="https://twitter.com/PFB6?lang=en">Twitter </a><br />
<a href="https://www.linkedin.com/in/pernille-fischer-boulter-b983061/">LinkedIn</a></p>
<div class="grey_box" style="width:100%;">
<div class="grey_box_content">
This story contains excerpts from Pernille’s memoir <a href="https://www.amazon.ca/dp/B077PLP49Q/ref=dp-kindle-redirect?_encoding=UTF8&amp;btkr=1">Tales From an Immigrant Entrepreneur: One Woman’s Story</a>. 
</div>
</div>
<p>The post <a href="https://tradeready.ca/2018/featured-stories/from-landed-immigrant-to-entrepreneur-and-community-leader-this-is-pernille-fischer-boulters-inspiring-story/">From landed immigrant to entrepreneur and community leader – this is Pernille Fischer Boulter’s inspiring story</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
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		<title>What I learned from 20 years of experience in tough emerging markets</title>
		<link>https://tradeready.ca/2018/topics/market-entry-strategies/what-i-learned-from-20-years-of-experience-in-tough-emerging-markets/</link>
					<comments>https://tradeready.ca/2018/topics/market-entry-strategies/what-i-learned-from-20-years-of-experience-in-tough-emerging-markets/#respond</comments>
		
		<dc:creator><![CDATA[Adrian Mutton]]></dc:creator>
		<pubDate>Tue, 09 Jan 2018 14:00:23 +0000</pubDate>
				<category><![CDATA[Market Entry Strategies]]></category>
		<category><![CDATA[cultural competence]]></category>
		<category><![CDATA[emerging markets]]></category>
		<category><![CDATA[localization]]></category>
		<category><![CDATA[market entry]]></category>
		<category><![CDATA[market entry failures]]></category>
		<category><![CDATA[success story]]></category>
		<guid isPermaLink="false">http://test.tradeready.ca/?p=25539</guid>

					<description><![CDATA[<p>Here are the tremendous insights I learned about the issues that really impact whether a company succeeds or fails internationally in emerging markets.</p>
<p>The post <a href="https://tradeready.ca/2018/topics/market-entry-strategies/what-i-learned-from-20-years-of-experience-in-tough-emerging-markets/">What I learned from 20 years of experience in tough emerging markets</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>&nbsp;</p>
<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-25540" src="https://tradeready.ca/wp-content/uploads/2018/01/learned-from-emerging-markets.jpg" alt="Woman carrying basket on her head and talking on a cell phone" width="1000" height="667" srcset="https://tradeready.ca/wp-content/uploads/2018/01/learned-from-emerging-markets.jpg 1000w, https://tradeready.ca/wp-content/uploads/2018/01/learned-from-emerging-markets-300x200.jpg 300w, https://tradeready.ca/wp-content/uploads/2018/01/learned-from-emerging-markets-768x512.jpg 768w" sizes="auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" /></p>
<p>Between 1998 and 2006, I was the international sales director for a small but very rapidly growing tech company. During that period, I opened up 12 international subsidiaries and appointed another 12 master distributors in other countries.<span id="more-25539"></span></p>
<p>Whilst sales grew exceptionally on the back of this international expansion, our firm had to overcome many local challenges, including <a href="https://tradeready.ca/2016/topics/import-export-trade-management/export-service-providers-need-know-taxes-compliance-issues-intricate-local-laws/">complicated tax, regulatory, and operational frameworks</a>, hiring, firing and retaining talent, and the management of multiple service providers worldwide.</p>
<p>Despite these challenges my company went public in 2005, buoyed by this global success. After exiting the company, I reflected on the international success my firm had achieved, particularly on how we were able to successfully enter <a href="https://tradeready.ca/2015/trade-takeaways/managing-troubled-relationships-in-emerging-markets/">challenging foreign markets</a>. None of the major international advisory firms wanted to support us because we were too small, and it was so difficult managing multiple local service providers.</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote">Sometimes it felt like I was spending more time managing vendors than I was winning new business.</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>After looking at a number of new business opportunities I decided that the best use of my experience was to establish an international market entry and expansion firm that was designed to deal with exactly the challenges and opportunities that my own company had faced.</p>
<h2>Why a company succeeds or fails in emerging markets</h2>
<p>During this journey, I had gained tremendous insights and learned many lessons on the issues that really impact whether a company succeeds or fails internationally. These lessons included truly <a href="https://tradeready.ca/2017/topics/market-entry-strategies/short-4-step-guide-cultural-fluency-exporters/">understanding local cultural nuances</a>, getting to grips with different regulatory and tax frameworks, and knowing who to hire to deal with them.</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote">I had to learn to be wise to where and when a company should establish a local presence in a foreign market.</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>My journey, whilst ultimately successful, faced some spectacular failures and startling episodes along the way, which I had to overcome. I once arrived several days early to a meeting in Hong Kong only to find our “exclusive” distributor was actually fully representing our main competitor!</p>
<p>Then, there was the time I hired local staff in one of our international markets, only to later realize our appointed GM had hired three of his immediate family members into our local business, but used different surnames for them all. And so the adventure went on!</p>
<p>Ultimately the success or failure of expanding into emerging markets is no different to the recipe you would adopt in your home market. A business needs to have a great product or service which is well-priced and of good quality, and crucially, isn’t immediately replicable, possessing unique some <a href="https://tradeready.ca/2015/fittskills-refresher/ignoring-international-business-competition/">competitive advantage</a>. To sell to and service a customer base, any company needs great people; people who can communicate your company’s value proposition, provide after sales support, and help with the general administration and logistics of cross border trade.</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote">Any company needs to deliver its message <em>locally</em>. Whether this is by establishing a distribution channel, having your own boots on the ground, or leveraging the increasingly important route to market that is <a href="https://tradeready.ca/2015/trade-takeaways/the-5-biggest-supply-chain-challenges-of-the-growing-ecommerce-environment/">ecommerce</a>, companies need to cover all the bases to ensure success.</p>
<p><cite></cite></p>
</span>
</blockquote>
<p>Online retail sales in India, for example, have risen tenfold in just seven years, from $3.8bn in 2009, to $38bn last year, and yet still this represents only 2.2% of total retail sales in the country.</p>
<h2>If you don’t truly understand your new market, you’ll become a cautionary tale</h2>
<p><a href="https://tradeready.ca/2016/topics/supply-chain-management/change-die-4-things-suppliers-must-survive-globalization-2-0-world/">Globalization</a> is often misconstrued as being synonymous with standardization. In fact, localization is most commonly what creates success for SMEs going global.</p>
<blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote">Whether it be the tweak of a design, the shade of a color, product name, or how it is packaged, these details are more often than not the key to successful market entry.</p>
<p><cite></cite></p>
</span>
</blockquote>
<p><strong>Consider the following examples:</strong></p>
<p>A British rice cooker manufacturer who succeeds in China &#8211; not because they necessarily know a lot about rice, but because they emblazoned the Union Jack on each of their rice cookers accompanied by the slogan “Made in Britain”.</p>
<p>McDonald&#8217;s expanded into India, secretly hoping they could convert the local population to become beef-eaters. Several restaurants were burnt to the ground by angry mobs, and would be customers protested outside the remaining restaurants. It took MacDonald’s years before they could respond and finally came up with a localized vegetarian menu &#8211; hence the veg Maharaja Mac was born.</p>
<p>Consider the U.S. motor company that introduced a car named the “Matador” in Puerto Rico, only to find out that their bleak sales results were caused by the translation of “matador” to “killer”.</p>
<h2>5 ingredients to a successful emerging market strategy</h2>
<p>There’s much to be learned from the <a href="https://tradeready.ca/2015/trade-takeaways/4-lessons-learned-famous-market-entry-failures/">market entry failures</a>, but put simply, the key ingredients required for achieving success in emerging markets are:</p>
<ul>
<li>Avoiding the threat of duplicity;</li>
<li>Competing in highly price sensitive environments;</li>
<li>Finding and managing the right sales channels ;</li>
<li>Recruiting quality talent across multiple time zones and at a great distance, and;</li>
<li><a href="https://tradeready.ca/2017/topics/marketingsales/beyond-localization-transcreation-essential-engaging-global-audience/">Genuine localization</a></li>
</ul>
<p>There is no quick fix to international success, and a single sales order does not mean that you are an expert exporter. Global expansion requires patience, consistency and <a href="https://tradeready.ca/2015/trade-takeaways/succeed-in-africa-choosing-partnership-corruption/">long term commitment</a>. If you are planning on expanding in emerging markets, be sure to give all areas of your global business the same focus you would to your business at home.</p>
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 Disclaimer: The opinions expressed in this article are those of the contributing author, and do not necessarily reflect those of the Forum for International Trade Training. 
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<p>The post <a href="https://tradeready.ca/2018/topics/market-entry-strategies/what-i-learned-from-20-years-of-experience-in-tough-emerging-markets/">What I learned from 20 years of experience in tough emerging markets</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
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