Patricia Freshwater, Commercial Director of Global Flood Defence Systems (GFDS) shares her top tips for doing business in Asia.
Global Flood Defence Systems, based in Droitwich, Worcestershire, is the leading provider of sustainable flood defence solutions for the built environment. In this guest blog, Patricia highlights the importance of finding the right partner to work with you in market.
“As catastrophic floods engulfed parts ofThailand, South Korea, Malaysia and the Philippines in June and July 2011, our products were suddenly in high demand and potential distributors were knocking at our door.
It was clear that we needed a robust international business development strategy to meet this demand, especially in unfamiliar markets, and that a reactive response would be ineffective. We believed that creating and establishing lasting relationships would be pivotal to our international success, and hence began to focus on establishing a network of trusted distributors across the Asian region.
It was imperative to find the right partners inAsiathat understood our full potential and shared our company ethos, so we were happy to invest time and resource into achieving this. For our first market, Thailand, we shortlisted four potential distributors for a competitive selection process which spanned top-level meetings and presentations in both the UK and Thailand. We looked for a company that showed commitment, entrepreneurial drive and passion for our products and brand as well as a synergy with our company’s core values. In addition, chemistry also played a huge part in our decision making process.
My top tips for working with partners would be:
1. Spend as much time as you can with your partners and get on their wave length – don’t be surprised if the first hour of your meeting is taken up by personal chat before you start talking business.
2. Consider your distribution model. Once we found our preferred partner, we offered them an exclusivity agreement in their country which was guaranteed with a one-off payment to prove their commitment.
3. Continue to work very closely with your partner, assisting in the development of their strategic plan to identify and secure opportunities and build the brand across the country. It is important that the team in country feel like an extension of GDFS and we liaise with them on a daily basis.
Building a global business is not without its challenges, particularly in managing communications across a global network of distributors. A key point of contact must be allocated to ensure consistency and also clarity for all. We have found by doing this with our partner, a clear path of communication can be established, and minimises any risk of misunderstandings.
For GDFS, clear communication is key, both during your search for a partner and once they have been selected and you build your relationship. I will be speaking on the importance of communication and what you need to consider to be successful in market at Explore Asia: your path to success on 19 March with the Asia Task Force.
You can find our more about Explore Asia: your path to success
Read Global Flood Defence Systems full case study, including more top tips, on the UKTI website