At home all over the world
What makes Panexio different?
Market analyses and information on internationalization are available from many sources. We know from experience that the current situation is often not considered carefully enough in expansion projects. Those who know the initial situation are better prepared to conquer a global market and end up with fewer problems. In addition, the strategy for entering the market is an important step, but a professional and competent implementation is even more important. Difficulties in such projects always lie in the details and can only be solved quickly and pragmatically with years of practical experience in international markets. We are actively involved in the expansion and also take care of the sensitive phases at the beginning and the end of a project. Upon request, we even help with negotiations abroad. Not only do we give theoretical inputs or information, but we also apply the knowledge practically and personally to the common goal.
What can companies expect when working with Panexio?
We see ourselves as equal partners and together we find the optimal solutions for companies that want to expand well prepared and develop positively in the long term. From our many years of experience, we know which questions need to be asked and which factors really need to be considered in order to be successful. The projects we have carried out so far in several countries on different continents prove that. And if there is already a foreign subsidiary that does not achieve the desired results, we examine all possibilities to improve the situation quickly. For this, we use our technical know-how, well-founded expertise and excellent network.
“Everyone goes their own way, but not necessarily alone.“
Reinhard A. Pfefferkorn, BBA MA
How does Panexio tackle market entry into growth markets?
- Successful expansion begins at home. We check how fit an organization is and what the prerequisites for a foreign investment are. Only few consulting companies do that. Successful growth requires an appropriate internal organization and a clear strategy to avoid additional expenses and problems later on. Just like building a house from the bottom up, not the other way around. The first steps into a new market are critical to success.
- We analyze and question the market selection. Many entrepreneurs choose a country without examining other markets that may be even more interesting. Here it is worth asking for important details and to have a second look at the map, followed by an individual market analysis.
- We design a real-world business plan that takes into account realistic revenue targets and cost estimates. In doing so, we avoid unpleasant surprises. Economic decisions should be fact-based.
- Implementation is always particularly important to us because this is where things are most likely to go wrong. Cultural differences, communication problems, unexpressed goals, bureaucratic hurdles, various technical standards, legal frameworks, etc. Those who enter a new market without having any experience there put their company at great risk, a risk that they would never accept in the home market. With experience they can focus better on opportunities and act faster.
- We try to identify as early as possible people who continue to look after the subsidiary after our cooperation. Here, we can help you succeed with an intensive know-how transfer between cultures. In practice, many leaders have the perception that foreign companies run well on their own, but that is not the case! If you want an economically successful subsidiary, you have to take care of it, which requires suitable employees at both locations. This is a crucial factor for a successful expansion.
Reinhard A. Pfefferkorn, BBA MA
You have already conducted numerous expansions. Where do you see the biggest challenges for companies that want or need to expand successfully?
Mostly the cultural aspects are neglected. While competence and quality come first in the DACH region, personal relationships are at least as important in Asian or Arab states, for example. Companies from DACH countries often act the same way in foreign markets as they do in their domestic market and then wonder why they are seeing undesired results. Furthermore, good market access is crucial – meaning distribution partners and the sales network. This requires very close observation and must be considered in the decision of which legal form the market entry should take place. In practice, we also often see overestimated sales figures and underestimated organizational costs. Despite its complexity and risks, global markets are still highly interesting and full of opportunities, especially for European companies.
How does Panexio choose its partners for ambitious market entries?
We handle the entire project by ourselves for and with our customers. For specific topics such as law or tax or recruiting, we have proven experts who we contact. If very specific skills are required, we know how to quickly identify further specialists. Since we do not take commissions from external partners, we are completely independent when selecting partners and focus exclusively on the needs of our customers.
What drives you? What motivates you every day? What do you like about your projects?
Our clients are experts in what they do and we learn a lot from them about new products, materials and services. There are incredible ideas which deserve global distribution. We are professionals in what we do because we have years of experience in it and pass that experience on because we want to constantly improve, reflect and set ourselves ambitious goals in our projects. In the international growth of a company, these factors can fit together perfectly.
We do what we do because we like to and are good at it. We bring people together on different continents, develop business models and establish companies in new markets. This is how we support companies with something they have never or rarely done before, as market entry is not commonplace. We also help people in other countries get access to products that may not have been there before. And the best part is that we create jobs with all our activities and effort. We think that alone is worth our commitment.
“A ship in harbor is safe, but that is not what ships are built for.”
John Augustus Shedd