Taking the time to understand your target market is key to successfully taking your company global, former Manuka Health chief executive John Kippenberger says.
Kippenberger, the keynote speaker for PwC Herald Talks' upcoming event - The Global Marketplace - said having people on the ground at the right time was important for companies with offshore aspirations.
"Really take our time to understand the market that you are looking at, and the consumer, and how you are going to reach that consumer in that market," Kippenberger says.
"Paying respect to the complexities of those markets is important - taking the time to really understand the model that's going to allow you to successfully supply product commercially in that market for you and your partners," he says.
"When you rush these sorts of things, we all know from experience that when you unwind trading relationships it can take time.
"It takes time, energy, and it can cost a lot of money.
"Having resources on the ground at the right time in target market can be important," he says.
Kippenberger says New Zealand needs more companies with overseas ambitions.
His advice is for companies to go the extra distance to understand their own businesses.
"I still think it's about taking the time to really understand your business - what it is that makes you special.
"Is it design? Is it supply chain? Is it the ability to build brand or is it your culture? Often it's many of those sorts of things."
"It's about really taking time to work through what will, I think will ultimately lead to a bigger, better, more sustainable success for your business," he said.
John Kippenberger is the keynote speaker at PwC Herald Talks – The Global Marketplace on September 25 at Victory Convention Centre. Book tickets at iTICKET.co.nz