Fail in foreign tradeTen ways to waste money abroad
– Peter Anterist
10 FAILS IN FOREIGN TRADE
For years they have had the greatest success with their product on the German market. Nobody can seriously compete with them and if they do, they will certainly have a new innovation that makes them a bit better than the competition.
They also open up the new market. Actually the main mistake in foreign business, which medium-sized companies cannot afford – especially not at a time when the markets are becoming more difficult. Professor Peter Anterist, CEO of the global trust company InterGest, talks about the most popular business timber routes abroad. This version of market development is unfortunately one of the most frequent and promises guaranteed failure.
“For simplicity’s sake, you take your local marketing and corporate communications with you to the target country.” That would then be mistake no. 3, which can be made abroad, describes Professor Peter Anterist, CEO of the global trust company InterGest, in his series on the “ten most popular” wooden paths in international business.
There is the myth of the “budget that must fit on the beer mat”: Professor Peter Anterist, CEO of the global trust company InterGest, considers lack of planning – such as the underestimation of hidden costs – to be one of the most popular wooden paths in foreign business.
Why should the economic success for which a whole generation of entrepreneurs was needed in Germany be possible abroad in the shortest possible time?” Professor Peter Anterist, CEO of the global trust company InterGest, about fatal mistakes in foreign business.
You consider the language and mentality of your customers abroad to be a “negligible business factor”. This puts you on the right track…
Especially companies close to the border often make this mistake: In order to save costs, their own German sales representatives quickly travel to the neighbouring country to sell company products. Professor Peter Anterist, CEO of InterGest, the global trust company, describes a case that ends unsuccessfully and must end unsuccessfully.
A pleasant thought: Only one importer in the target country who does all the work. So to write only one invoice abroad… Usually a dream that has nothing to do with reality. Professor Peter Anterist, CEO of the global trust company InterGest, describes a case in which a German entrepreneur makes a fatal mistake with “his” importer.
Davon träumen alle: vom China-Boom profitieren, am besten mit einer eigenen Fabrik dort, schnell und viel produzieren. Das ist manchmal ziemlich riskant, weiß Professor Peter Anterist, CEO der weltweit agierenden Treuhandgesellschaft InterGest. Er beschreibt in seiner Serie ein klassisches China-Desaster, das zur Insolvenz der gesamten Firma führte.
Particularly in the service sector, entrepreneurs like to expand their activities into neighbouring countries. However, they should not overlook the fact that tax debts also arise abroad. Professor Peter Anterist, CEO of the global trust company InterGest, explains this in his series about the “ten most popular wooden paths in foreign business” using a practical case.