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New entrepreneurs who want to survive, and optimize the growth of their startups, need to think globally, and act locally, from day one. This approach, popularly known as “glocalization,” means you have to design and deliver global solutions that have total relevance to every local market in which you operate. Recognizing this is as much about culture as about language, ensures an understanding of regional motivators, cultural taboos and local customs – so that your solutions are ideally designed and marketed to deliver value that has genuine local relevance. What all this doesn’t mean is that you should roll out your product in every country at the same time.
Time, not money, is the key resource. Entrepreneurship is a lifestyle, not a job. Be prepared to play the game for life. There are no quick fixes, or quick get-rich solutions. Learn to manage and balance your time; it’s the one thing that belongs to you alone. Great entrepreneurs have a life outside of work, and find time to give back.
Position yourself as an expert.
People tend to buy from people they perceive as “experts.” Expert status is no longer a formal degree or certification. Today it more often means a “trusted friend” who seems real, visible, and doesn’t “push” products. Don’t hide behind a website with no address, picture, or direct contact information.
Thailand has good infrastructure with modernized transportation facilities, as well as upgraded communications and IT networks that ensure optimum business and living conditions. World-class industrial estates boast sophisticated facilities and support services to meet the needs of multinationals and SMEs alike.
The Million Dollar Idea, and how to make it work
Focus always on one or two top priority goals. We all live with the stark reality that the more we try to do, the less well we do on any of the elements. Thus focus is a natural principle. Narrow you and your team’s focus to one or two wildly important goals, and don’t let these get lost in the whirlwind of daily urgent tasks and communications.