Types of Partnerships You Should Establish In The First 6 Months In A New Market

Hellooo Brand Explorers! 🌎🌍🌏

As you begin your journey of international expansion into a new market, it is important to establish the RIGHT strategic partnerships to help your business thrive. 

By leveraging their expertise, networks, and resources, you can quickly gain credibility, navigate the complexities of the local market, and build a strong foundation for future growth.

In this newsletter, I outline the types of strategic partnerships that you should prioritize in the first 6 months of international expansion into a new market.

Local Influencers

Partnering with local influencers is an effective way to quickly gain credibility and increase brand awareness in a new market. 

• In The First 6 Months: Consider identifying and partnering with influencers who have a large following and strong engagement rates. 

• Example: If you are expanding into the fashion industry in Japan, you may want to partner with popular Japanese fashion bloggers and social media influencers.

Distributors

Establishing relationships with local distributors can help you navigate the complexities of the local market and gain access to distribution channels. 

• In The First 6 Months: Focus on identifying and partnering with distributors who have an established presence in the market and a strong track record of success. 

• Example: If you are expanding into the food and beverage industry in Brazil, you may want to partner with a local distributor who has experience working with international food and beverage brands.

Legal Advisors

Navigating the legal landscape in a new market can be challenging, so it is important to partner with local legal advisors who can help you understand and comply with local regulations. 

• In The First 6 Months: Consider identifying and partnering with legal advisors who have experience working with international businesses and a deep understanding of the local regulatory environment. 

• Example: If you are expanding into the healthcare industry in China, you may want to partner with a local legal firm that has expertise in healthcare regulations and compliance.

Local Employees

Hiring local employees can help you navigate the cultural nuances of a new market and build trust with local customers. 

• In The First 6 Months: Focus on identifying and hiring employees who have a deep understanding of the local market and consumer preferences.

• Example: If you are expanding into the technology industry in India, you may want to hire local engineers and product managers who have experience working with Indian consumers and understand the unique challenges of the local market.

The Bottom Line?

Establishing partnerships with local influencers, distributors, legal advisors, and local employees can help you successfully expand your business into a new market in the first 6 months.