Representation Services
Many companies find the prospect of expanding into Asia daunting. Different economic, regulatory, political, and cultural factors create a multitude of potential risks that can cause costs to escalate and the strategy to fail. Asia presents many risk factors – unreliable data, volatile markets, unfamiliar and/or unscrupulous business practices, etc. – that can create resource-consuming distractions for your business.
Companies establishing operations in Asia generally believe there are two options for market entry:
• The high risk, low cost option of entering new markets via distributor relationships.
• The high cost, low risk option of setting up offices in Asia.
Woodward Partners provides a third alternative. We act as an on-the-ground, representative office to help you manage your entry into Asian markets. We help you set up the necessary structures and arrangements to get started, and the processes and systems to effectively manage the myriad of relationships necessary to do business in Asia. We bring our years of experience in the region to assist companies to understand the subtleties of doing business in Asia, the dynamics of the market, and to reduce the risks and costs associated with establishing operations in Asia.
Our approach is to work collaboratively with clients providing visibility into the entire process; ensuring objectives are clear and that actions are clearly focused on results. Our overall methodology is structured with a brief initial planning phase that will lead quickly into the implementation and management of the marketing, sales, distribution, and service operations. Our intent is to generate revenue as soon as possible while continuing to evaluate new opportunities and launch the business in new areas. Our approach (outlined below) is designed to reduce risk and generate positive cash flow in a very short time frame.
Woodward Partners has used this approach to assist a number of companies enter and expand in Asian markets. We recently assisted an American medical devices company enter markets across Asia. Within six months of initial engagement, Woodward Partners successfully completed:
• An evaluation of market potential and identify appropriate markets,
• The development and implementation of market entry strategies tailored to each country,
• The establishment of service partnerships, and
• The appointment of reputable distributors that best served the interest of the company
Engagement with Woodward resulted in a stronger understanding of the opportunities and challenges faced by the medical device company within diverse markets throughout Asia. Strategically selecting key markets and distributor partnerships within Asia, Woodward effectively positioned the company to maximize their opportunity to generate positive cash flow in a short period of time. As the on-the-ground liaison, Woodward Partners acted to ensure that distributors and service partnerships were created in the interest of the company. Long-term management of the company’s external partnerships resulted in a consistent focus on company strategy.
) - the subtle differences that can drive success in Asian markets
Learn how to better align your interests and avoid the significant risks of working with distributors. An on-the-ground representative can help act as a conduit to obtain valuable information about the market and culture, while helping you develop the relationships to create a foundation for significant growth.