Looking for Success in the International Space? - Retain An IE

Foreign operations are an unnecessarily expensive business. I have been doing this for years. The road map is invariable and predictable. First there is a flurry of optimism and excitement. Passports and Visas in order, off we go to El Dorado. It’s an exciting affair… international departure lounges and exotic destinations. The initial trip always yields a favorable report. Of course it does. In the information age there is an abundance of data available to facilitate the identification of new markets. An hour of smart searching on the web and one can access all there is to know about the widget market in Ghana.

Very few companies possess the internal human resources to exploit operations in foreign markets. And even if they do, can they afford to dedicate this staff to a still-to-be-proved viable venture? Hiring a full time professional to start up the venture from day one or sending out a valuable member of management is very high risk indeed. When I am approached in such circumstances, I insist on an Interim Management arrangement. Give it a name. Initiating commercial activity in a foreign market is a start up. It is irrelevant how big and bad you are in your domestic market...you are a novice in foreign lands. You will find very few Fortune 500 CEOs who will disagree with this assessment. You will find even more CFOs who quite simply do not want to talk about the subject.

Just because one is in a new environment, does not mean that the old rules no longer apply. In fact, it is in such circumstances that one needs to adhere even more rigidly to solid professional standards and practices. If it is unwise to task an inexperienced executive with an important venture in a domestic market, then the same holds true for foreign operations. A significant addition to this maxim is that it is not only the executive that is inexperienced in the foreign market, but the company itself.

Before I get carried away, go 18 months forward from the buzz of the JFK International Departure Lounge. The exciting new venture that everyone wanted to be associated with has now become the corporate black hole. There have been many casualties. Not wanting to mix metaphors – it is now a rudderless ship floating aimlessly (and expensively) towards some foreign shore.

There is no great mystery to being successful in new markets. It is rather straight forward. I could draw a magnificently exciting profile of what makes a successful International Interim Executive, but the reality is that I do what you do…I just do it somewhere else.

Like everything in life, there is a learning curve. Unfortunately the promise of foreign gold and the adrenaline rush of jetting off all over the place dim the sensibility of even the most seasoned campaigners. Experience counts and can be acquired through the intelligent use of Interim Executives in international markets. It is that simple.

The International Interim Executive has done it before. All you are requesting is that he now does it for you.

DF
CEO 24/7