As a business player, the client should consider how efficiently the two can work together to boost productivity
Sanjeev Jain, Ace Advisors India
"There is an increasing demand and enthusiasm amongst Indians to explore new avenues in their business ventures abroad. With the right approach and guidance, any Indian venture can make its mark on the global marketplace.", said Sanjeev Jain, CEO, Ace Advisors India (AAI), Globalization as a phenomenon has impacted various aspects of life in the last few decades. Liberalized capital markets in India, has driven the entrepreneurial sector to go global. Regardless of any possible reason, moving offshore is high-in-demand for the current Indian business players. Although opportunities to compete in international markets are significant, the risks can be high and numerous factors go into play. Proper due diligence in this area is a critical element for successful expansion.
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Jain further said, “If you really want to make it big in the international market, engage consulting & advising partners from day one.” Ace Advisors India is one such business consultancy firm that can be considered since they were established in 2014 and now cater to over 100 countries around the world. They assist with strategies, financial & marketing advice, techniques and information needed for a smooth transition to a different market. To succeed, one requires a consortium of skillful marketers, financers, legal advisors, and manpower who help restructure classic practices and invent new ones to find creative, practical solutions to new market opportunities. As a business player, the client should consider how efficiently the two can work together to boost productivity. While Indian companies consider overseas market expansion, they should also study the commercial laws, value of currency, foreign regulations and the current socio-political affairs in different countries and in different regions within the same country. As they enter new markets, man-power with international experience becomes pivotal. Third parties such as foreign-based distributors or agents can hold limited or exclusive rights to represent the company in that country.
Since companies are penetrating into a new market, they need to assimilate foreign business culture and preferences. The number of countries to enter and the rate of expansion becomes a crucial factor. Market penetration; SWOT analysis; monitoring internal and external market environments; building customer value, satisfaction and loyalty; cultivating customer relationships (CRM) are continuous processes that are key to risk free growth. Lack of adaptability or understanding in these areas can lead to an unappealing product/service. Which in turn can hamper brand image and equity.
Sanjeev Jain also said “With globalization and cross border trade opportunities, it’s imperative to understand & comprehend foreign market economics, social and political conditions from macro & micro level many businesses failed just because they didn’t do prior research and not getting the right advising partner.” Navigating these risks are vital to thrive in a new market. And hiring a business consultant would ease the tension and support the company. That by its very nature being a major investment. AAI assists in corporate and personal bank opening, company formation, accounting/auditing services, local statutory licenses and permits, permanent residency, trademark registration, e-commerce business setup including setting up payment gateway accounts. A business consultancy like AAI helps entrepreneurs expand their business abroad.
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