Technology has made communications between an entrepreneur's parent office and its new operation almost a non issue. It has also enabled the Asian entrepreneurs we interviewed to preserve a relatively compact reporting structure when venturing into new markets, with staff at the new operation reporting directly to headquarters.
In addition, technology has greatly reduced the need for the founders and CEOs of startup companies in Asia to travel frequently to their overseas offices, with face-to-face meetings reserved for strategic reviews and important sales meetings.
As one entrepreneur commented: "We try to build relationships from our main office first, through e-mail, phone, etc, before travelling to meet potential clients and partners in the foreign location." With Asian startups' internationalisation creating balanced regional and global networks offering high quality coupled with low cost, research and development issues are on an almost equal footing with sales when it comes to prioritising headquarters' commitment to the newly established overseas operation.
With R&D typically centred in one location, progress in this area was crucial to many of the startups' business agenda in the first 12 months of overseas expansion.
Some lessons were learned intuitively, but "process" was the operative word in successful overseas expansion stories, even though a fresh set of variables was reported with most forays into a new country. Beyond the initial evaluation of existing technical expertise and industry contacts that steered the entrepreneurs toward a specific market, the key to success was efficiently repeating the set-up process in new target markets.
A Hong Kong startup we spoke to had originally tested the waters with a Shenzhen operation. Within a year of branching into the China market, the company set up five more offices across the country.
Regardless of the new operation's location, for the majority of entrepreneurs their overseas venture has proven to be a valuable learning experience. It also enabled them to identify priorities amid the "Big Bang" process of building a local team, winning customers and securing local partners.
In fact, only a minority of entrepreneurs in our survey considered that the overseas move had not served to prime their business for growth.
One of the respondents summarised his assessment of the first 12 months of overseas operation as follows: "Most decisions [at the subsidiary office] can now be made autonomously, and many of the processes have been automated, so there isn't much need for constant interaction between the offices."
Maybe you have thought about coaching for your internet business, but haven't made a decision on whether or not to pursue it. To put this into perspective, think about learning golf. This is an individual sport where the participant succeeds or fails based on their own skill level. So if you wanted to learn how to play golf, how would you get started?
Would pick up a set of clubs, go out to the golf course, and expect to play a great game of golf the first time out? Would you sign up for some beginning golf lessons first? Which way do you think would help you learn golf quicker?
Think about your internet business the same way. Do you think that you can just pick up a set of e-books, read about the business, and then be successful on your own? It takes more than that.
Part of the entrepreneur spirit is the challenge of doing things for yourself. But is that in your business? best interest? People feel that if they seek help from an experienced, successful person, they will look stupid or that everything that they are currently doing could be wrong. Would you prefer to take that risk of looking ?stupid? for the short term and ask for help and be rich or is keeping your ?stupid questions? to yourself more important to your pride?
An important note here. From a mentor/s perspective, there is no such thing as a ?stupid question?. There are only unasked questions. Don't be afraid to search out answers to your questions. Don't be afraid to speak up and ask for help. So who do you go to for help? An internet business mentor may be one of the best investments you can make in your business. A mentor can help you compete in the large internet world by helping you create a unique vision focus. A mentor can help you be seen as the only option in your niche. A good mentor will know that there is no cookie cutter approach to helping their mentee. Each case is individual and should be treated as such.
So, you have decided it's time to find your mentor and business coach. What makes a good mentor? How can you tell they are right for you? There are a few things to look for.
1. Knowledge -- Do they know what they're doing? Can they give real life examples of their success? If not continue looking.
2. Honesty -- Do you feel they are telling you what you want to hear, or are they being straightforward, even brutally honest, because they are trying to help you for the long term?
3. Dependability -- How long does it take for them to reply to your emails? Do they get back to you within a few hours, 24 hours, or does it take days?
4. Relevance -- Is there information new or has it be recycled? Make sure that the program that you put together with your mentor is well structured, up to date, and will personally help at each step.
5. Service -- Are they the only mentor or do they have the resources to find someone with the expertise to help you. No mentor has all the answers and having other resources to rely on speaks that they are looking out for the customer first, not just themselves.
If you want to get your own private mentor, make sure you check them out before investing your money and then invest your time into learning as much as possible. Take advantage of the opportunity you have paid for. Ask questions, learn, and then apply what you learn ? you won't regret it.
Both Thavorn Srisukato & Frank Terranova are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Thavorn Srisukato has sinced written about articles on various topics from Rolex, Accounting Guide and Economics. www.nysetechnical.comwww.finalreview.info made possible by:. Thavorn Srisukato's top article generates over 4400 views. to your Favourites.
Frank Terranova has sinced written about articles on various topics from Education, Joint Venture and Affiliate Programs. Frank Terranova is President and a professional coach for Mastermind Pros ().. Frank Terranova's top article generates over 1600 views. to your Favourites.