About Development and Regional Markets
During the 2002-2012 years, we faced a very regulated and closed market in Brazil.
Ok, and how it affects development and freedom? Its about economics. I understand economics as a science of shortage. In many ways, specialists say that we do need to prepare ourselves to a different world, not necessarily of shortage, but related to managing scarce resources. In Brazil, you may face further challenges.
I can say if you were a CEO who needed to brave the Brazilian market during this time, you should follow some sort of specific checklist. Here is a simplified extended checklist for newcomers who wanted to start their business in brazil:
1 – Check if the service or product your company sells is forbidden by law or regulating agencies’ norms. If it’s about pharma, check if your patent has been broken.
2 – It is strongly recommended that the entrepreneur searches for a local partner having a related business or having some similarity to your business, in order to reach the market he aims. It may well not be strictly related to the headquarter company main market or the product target market;
3 – Be sure that the regulations are all checked. Your local partner should be able to list them. Your local partner will be able to open the way to the government agencies that are responsible for all questions about starting your business there. It is important that your local partner could be able to keep in touch with the government agencies that regulate the market. They should be accountable for that in the agreement.
4 – If the partnership fails due to the impossibility to follow all steps to get the business on, you should list the steps that were not listed before, and try again. Some businesses hardly work at first. This time, lessons learned, you may try again without the local partner (like Dish TV done in 2012), due to the expertise get with the local partner in the first tentative.
The project management skills needed are knowledge of Latin American (Latam) markets and regimentation. Knowledge of the agencies involved with your product and services, as well as mapping the existing players and their power to influence legally who can join these markets. All of these are likely to be the most important management skills.
What do you think?
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