What is Business Consulting and how can it contribute to the success of your business abroad? 

A company or individual can use the services of a business consultant when they consider starting a new business in, or expanding an existing business beyond the borders of their own country to, another country whose language they do not know. Or simply want to buy or sell products or services internationally.

Language barrier and unfamiliarity with foreign markets can effectively kill a potentially profitable business. It is impossible to expand a business internationally without at least some knowledge of the target market and adequate market research. 

Is it is still possible to find a niche for oneself and become a success story in such an oversaturated market as we now have?   

At some point every businessperson must have confronted this question when thinking about starting a new business or expanding to foreign markets. The answer is: YES, it is possible to find or create a niche in any industry. IT, hotel, food and beverage, finances, healthcare, whichever industry you can think about. The key behind success is using the ‘Blue Ocean Strategy’ as opposed to the ‘Red Ocean Strategy’ (Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant by W. Chan Kim, Renee Mauborgne).

For those, who are nor familiar with these marketing terms, the Blue Ocean Strategy, one that is very motivating and full of opportunities, can be compared to being the only fisherman in an ocean full of fish, while the Read Ocean Strategy, aggressive and full of blood, is like competing with thousands or millions of fishermen in an ocean with only a very small number of fish there to catch. A Blue Ocean – once you get there – offers new opportunities for profit and even rapid growth in a market with no, or very few, competitors.

Why do you need to be aware of what is going on in your industry and what are your competitors are doing?

If you plan to go global and expand your business to another country or start a new business abroad, it is absolutely crucial that you first assess the competitive landscape to have a strong sense of who is targeting the same potential customers as you, what resources your competitors have at their disposal and the bases on which they intend to compete, i.e. product features, service quality, price, focus, etc. There is little sense in entering a market with an unknown brand if the space is already occupied by a behemoth with a well-known brand, brilliant product, solid distribution channel, and ample marketing resources.