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Lessons Learned

Is an on-going, iterative process. Typically starts with 3 initial assessments that are explored with mentor.

  1. Company readiness
  2. Product readiness
  3. Market selection

Mentee (company) benefits come from converting mentor discussion into insights & actions plans.

Mentor Graph 1

Company Readiness

COMPANY readiness is an assessment of the business that starts with self assessment that is shared with the mentor and then reviewed on multiple dimensions.

  1. The assessment encourages  an objective approach to gauging WHERE ARE YOU TODAY
    Viewed through the lens of future (overseas) customers.
  2. Marketing – web site, print materials (A4 or what local market requires?)
    Aussie English? Images?
  3. What if future client investigated your company?
    Google? References? Blogs?

Mentor Graph 2

The COMPANY READINESS ASSESSMENT is transformed into an action plan

  • Convert assessment to action plan.
    90 day plans are ideal - actionable/doable/further investigation required.
  • How to test if your marketing collateral is market appropriate.
    Often a process of testing 2-3 alternatives and comparing to peers.
  • Making it easy to find out about your company - challenging in new markets.
  • Who are the influencers, what are the communication channels?

 

Product readiness assessment

  • Assess where your products are today
    Viewed through the lens of future customers
  • Frame as solution with benefits
    rather than being a product with features
  • Know your market/peers/alternatives
    What makes your product different? USP?


Product readiness action plan

  • Convert assessment to action plan
    90 day plans are ideal – actionable/doable
  • Reframe collateral to solution/benefits
    look at the collateral in your target markets
  • Be known in the space your buyers shop in
    Leverage your case studies
  • Independent testing/reports can help

 

Target market assessment

  • Start with desk/web research
    collect facts on ~5 target markets
  • Set up criterion for assessing new markets
    competition? beachhead? New product?
  • Identify candidate channel partners
    align with your plan and stage of GTM

Mentor Graph 3


Target market action plan

  • Convert assessment to action plan
    90 day plans are ideal – actionable/doable
  • Pre market entry action plan
    homework, visit, PR/marketing, test market
  • Market entry plan
    look at 2-3 year plan with decision points
  • Going global often takes 2x $ & time

 

Special Programs

  • Export Advisory  Panel
    • Who can I talk to our export journey to bounce ideas off of?
    • Monthly support working through your current issues and 1 topic/month
    • 6 month program with 6-10 sessions, A$75
  • WeGO! - A global women entrepreneurship program - watch this space
  • Mena Microfinance - A microfinance program for women - watch this space