Local Generalists will always be beaten by Global Specialists

I have often said that every business is a global business. We are too.

I recently presented to 150 mechanical and manufacturing engineers in Latvia - well, many of them were in Lativia but attendees were a mix of in-person and on-line. The subject was international expansion.

One of the key messages was the importance of selecting your new market entry product or service that is, or could be, 'best in the world'. The local generalist can exist with mediocre products due to proximity and customer intimacy.  However, if you have real breakthrough 'best in the world' products you can displace them. So, as your mother told you, always put your best foot forward when entering new markets.

Of course, the flip side of this is that if you are a local generalist, you are undoubtedly going to see your products and services knocked off one by one by a global specialist with ‘best in world’ offerings. That is why we were invited to speak in Latvia. 

If you’d like help figuring out how to be a global specialist – either as a defensive move or to enter a new market - we can help.