Did you know: Only 9 per cent of Australian businesses are currently operating in Asia?
Many established Australian businesses are taking the next step into expanding globally, yet the numbers can still see massive improvement and there is much to be learnt from those businesses that have already made the leap.
Mukund Narayanamurti, CEO Asialink Business, says that Australian and family-owned business Bundaberg Brewed Drinks learned these key things when expanding into Asia: Don’t rush, take your time with Asia; find the right partner – do your research and choose carefully; and build your own “Asia Recipe”.
To be successful in Asia, Narayanamurti offers this guidance:
- Deal with government effectively.
- Have a sophisticated knowledge of Asian markets and the business environments.
- Build long-term trusted Asian relationships.
- Adapt your behaviour to Asian cultural contexts and learn the language.
- Be committed to an Asia-focused strategy.
- Have a customised offering and value proposition.
- Bay McLaughlin, co-founder at Brinc.io: Partner with local businesses and learn how the local ecosystem works and adapt your business to suits.
- Xania Wong, CEO at JOBDOH: Know the local culture and customs across Asian markets because they are all different.
- Tytus Michalski, managing director at Fresco Capital: Hire the right team, which includes someone on the ground who can drive the expansion. They need to know the how the local market works.
Rare Birds Con will offer unique insights into expanding to Asia from the outstanding experiences of Dr. Richard Seymour and Jessica Wilson. Get your tickets today to walk away with distinct lessons and tips on how to take your business to the next level.