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March 25th • 2 min read
#Easy Skill #Mining #Change #Business #Leadership

Entering A New Market Successfully: Think Globally, Act Locally.

Note: This article is the fourth article in a series called “Your Guide to Entering a New Market”. Find the third article here. Articles are based on first-hand experience in setting up a successful business in a foreign country: Papua New Guinea (PNG).
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Growing your business includes a purpose that is bigger than ourselves. It demands complete alignment with the values and core goals of your company. When you create a new branch in a new city, region or even a faraway place, the key is consistency.

 

Having a consistent brand and service offering is what makes you unique and enables you to stand out. However, finding the balance between local customization and head office alignment is often overlooked. But this knowledge synergy is the foundation that creates change within a community. Making a bigger impact starts with having a bold vision of the future. Combined with passionate execution, we can raise the bar and set higher standards. The sky is the limit. 

 

Lift up the community. 

When it comes to entering new markets, there are so many ways to enrol locals. And when you get the community involved in what you’re doing and why it matters, it helps them understand why they should team up with you. Positive community relationships are essential to achieving success in any new market.

 

Creating opportunities. 

The simple act of creating new job opportunities is a massive factor in improving people’s lives in emerging markets. Job creation leads to economic transformation and elevates the quality of life for new employees and their families. But new corporate roles are more than just a source of income. They share knowledge, elevate skills, and can even lead to new career paths. When we began our Papua New Guinea adventure with a new branch opening up, it gave us the chance to build a new team with local talent.

 

Different market, same target. 

Creating opportunities in developing nations doesn’t imply the same process compared to western societies. However, the overall objective to drive positive social change remains the same. When we look at the world of extractive industries where Easy Skill serves many clients, we can take some cues. Looking at Exxon Mobile in Papua New Guinea, they’ve just been recognized for a strong workforce development strategy that will contribute to sustained economic development nationally. And that is something to be proud of. 

 

More money to spend. 

Local businesses create economic growth that also transforms the local community. Injecting the locals with stronger income creates a positive cash flow that infuses back into the community. More money earned means more money to spend on small businesses that form the backbone of these communities. By spending $100 at a local business, roughly $68 stays within the local economy compared to shopping abroad. When small business owners are thriving it creates the capacity to give back to the community, making another win-win.

 

Think globally, act locally. 

Infusing new ideas, business practices, and skills into the community brings a unique perspective to the country. Given that we live in a knowledge economy, creating global competitiveness requires continuous learning. When we launched in the PNG market, we brought a healthy curiosity to learn from local experts. This helped us to understand the local needs better so we could tailor our global workforce solutions for the PNG community.

 

Broadening our impact. 

Creating rewarding employment options is exciting for our core team. And even more exciting when we could do it for the entire community. It’s a known fact that identifying and accessing local talent is a serious challenge in developing nations. Prioritizing local talent is a big project that we were eager to tackle. We used innovative low-tech solutions to tackle mapping out the nation’s existing labour market to help local people and local businesses. Conducting the nation’s largest skills survey, we built an engaged community of thousands of technical professionals. 

 

Advancing social change.

Entering a new market ignites a social responsibility to support societal advancements. As an emerging market, community practices are continuing to evolve as well. Providing support means choosing to get involved in issues that matter to the locals and ensuring advancement for everyone. At Easy Skill, we’re excited to leave a legacy that positively impacts People, Prosperity, and the Planet. Serving the PNG market is a rewarding privilege and we are proud to help shape a better future. 

Zoé Braun

Content marketing specialist

Brand storyteller in more than just one language. She writes moving human stories and translates technical topics so they're easy to understand. Pretty nifty. She considers business is about building trust and long-lasting relationships. She gets jumpy if she doesn't get at least 3 weekly hours of sport, running, yoga, kitesurfing, - you name it!

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