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July 16, 2020
Once an entrepreneur decides to expand the business to another country, many issues will arise in his/her way. Legislation, paperwork, funds, banking, office, employees, and a thousand more things to do until the doors are open, the table is ready and everything is set up to work. It is better to have a local Partner, to who you would entrust your business setup. The real Partner would save time and money, as well as prepare for the business environment in the new country.
One of the important and overlooked issues is that founders often make the mistake of making it seem as though there is no competition in their space. Unless your offer is completely new it is very likely there are companies trying to solve for the same problem you are.
Therefore, it is important to study the market and make a list of competition, analyzing their activities, and important business metrics. The next step would be, to demonstrate how best your product stands out and provides a different, more efficient, and scalable offering. Founders need to ensure they pitch their products or solution around the problems it solves rather than just stating the benefits. Lastly, please plan your advertisement and marketing strategy.
Having said that, EBS has been helping many startups to grow exponentially in the UAE, leaving the competition far behind. Contact us today to know how our strategy advice works.
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