“Having scaled many businesses in Southeast Asia, local knowledge and flexibility continue to be essential tools for sealing deals in Southeast Asia.”
— Jeslin Bay (Managing Partner of BlackStorm Consulting)
Sealing business deals are essential to organisations of all kinds. While businesses are familiar with closing a case in their home country, obtaining a client overseas will be fairly challenging. The company needs to seal business deals outside of their home country to have a successful expansion overseas. By expanding overseas, companies get to tap on a larger consumer base and reap greater profits.
Before approaching a potential client overseas, the company will need to consider various factors such as cultural and business norms. By presenting themselves as business owners who care about the country’s unique culture, clients will naturally be more willing to partner up. Additionally, the company will need to anticipate the potential challenges and obstacles they may face. By doing so, it increases their chances of being able to have a strong foothold in the foreign market.
According to data from the Asian Development Bank, Southeast Asia grew at a robust 4.8% in 2019 and has been touted as one of the fastest developing regions globally, well above the global average of 3.2%. The region is a force to be reckoned with and has proven itself a lucrative country to conduct business in. Many companies have flocked to partner up with various businesses in Southeast Asia, some meetings significant success.
In this course,
1. Uncover the potential challenges that may be encountered when stepping into the borders of Southeast Asia are.This course gives business owners the upper hand in understanding the potential alterations encountered when communicating with potential partners or clients. Knowing the challenges that may be faced, the business owner can then attempt to solve them first to ensure the smooth closure of business deals.
2. Understand cultural differences and the importance of respecting themEach country has a different culture and social norm. That is what makes each country in Southeast Asia unique and different. Before meeting up with your potential business partner or client, business owners must make an effort to learn of the different customs and traditions each country has. This will win them the trust of locals.
3. How to communicate and negotiate effectively with localsYou’ll learn how best to liaise your business strategies, models, and techniques with the locals. By having this important skill set under your belt, the success rate will increase significantly.By the end of this course, you’ll understand the necessary preparation for sealing a business deal in Southeast Asia and know how best to close a case.
What is going to be covered
- The complexity of Southeast Asia
- The key to sales
- Understanding cultures
- Social norms
- Communicating the right message
- Being cultural sensitive
- Unique local norms
- Business norms
- Etiquette where first impression counts
- Success in business meetings
- The negotiation toolkit
- (Slide) Courseware — How to Seal Business Deals in Southeast Asia
- (Excel) Worksheet — Preparation for Market Entry — Activity 1: Factual Check
- (Excel) Worksheet — Preparation for Market Entry — Activity 2: Research on the New Market
- (PDF) Factsheet — Five Southeast Asia Factsheet
- All business owners or entrepreneurs currently in or intending to branch into Southeast Asia (SEA)
- Business development executives intending to upgrade their skills in venturing into new markets
- Aspiring entrepreneurs or startup founders researching entry into SEA
By the end of the course, you’ll be able to:
- Know how to prepare to expand into Southeast Asia.
- What are the cultural and business norms to be aware of when meeting locals.
- Review and communicate your plan from a macro perspective.
- Negotiate for the best possible benefits for your company to have a smooth entry into the country.
Gain an edge over your competitor and set a foothold in foreign markets with the right market entry strategy. Visit this link on Techgoondu Learn to enrol in this course today!
About BlackStorm Consulting
BlackStorm Consulting (http://blackstormco.asia/) is a Singapore-based boutique growth consultancy firm that specialises in corporate strategy, profit management and investment management. We scale businesses in Southeast Asia.
Our clients and connections are internationally present and range from small and medium sized businesses, MNCs, to government agencies.