New Territory, New Hire
So you're looking to expand your business into a new territory, exciting times!
If you're looking to establish your company or put the first Business Development professional on the ground in a new region, getting it right the first time can make a huge difference to your success, particularly if you're in a high-growth market where competitors are already established and making progress.
If you look at the synergies in this type of activity and that of a start-up, you can see why some subtle differences can have a huge difference in the outcome of this venture. As Steve Jobs once said, "When you're in a start-up, the first ten people will determine whether the company succeeds or not. Each person is ten percent of the company. So why wouldn't you take as much time as necessary to just hire A players? If three were not so great, why would you want a company where 30% of your people are not so great? A small company depends on great people much more than a big company does." He also stated that the dynamic range between what an average person could accomplish and what the best person could accomplish was 50 or even 100 to 1! Given this analysis, you're well advised to go after the cream of the cream!
A small team of A+ players can run circles around a giant team of B and C players!
From our experience, many companies will focus heavily on the cost to set up in a new region, and not consider that a higher investment could significantly increase their chances of establishing the brand quickly. Hiring a lesser experienced business developer, someone with a low salary can wrongly suggest low risk, but in fact the reality is that they will take a great deal longer to build interest in your brand and even worse, they can cause damage and all kinds of issues that could hinder and prevent you from growing in the territory.
Emerson Chase has helped hundreds of companies to get a foothold in the Middle East and they've gone on to acheive great things. We've also helped some of our biggest clients to hire top performers and break into Russia, Eastern Europe and Latin America, and we've also helped international companies to establish their first team here in the UK!
If you're considering developing a territory that's new to you or one where you have no current presence or partnerships, please book a free consultation here!