Entering a Global Market

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Duration: 4:36
Source: Stanford ECorner
Author: Gil Penchina, Wikia
Copyright: Creative Commons: by-nc-nd
Found: Nov 5, 2009

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So these are the steps to take when you’re entering a new global market. So I start by assuming I'm not nearly as smart as I think I am and talk to people who actually live there. And in particular, having done it for a while now, I'm now aware of some things to ask questions about and to worry about. Those are at least in the technology and internet sector. Stuff like privacy laws which can be radically different by country. The Germans are incredibly worried about privacy. As best as I can tell, the Chinese government is really worried about content. They've actually blocked Wikipedia as of a few weeks ago. So knowing the right questions to ask around. What are things like that to be worried about? You know in terms of legal or regulatory are a big part of it. And then I think there's the culture aspect of just how do people use these things. And different people have completely different perspectives on how things should be used. I'm trying to think of a good example. I mean I go to the supermarket in France and the supermarket has wine because that's perfectly normal there. But it's not perfectly normal here. So you know we have wine sales on Ebay France but we don't in the US. So cultural morals, how people behave but I just get out and I talk to people who are in whatever sector I'm going to go to. And I say you know, "If I was a dumb American coming over to France, what are the five things I need to know?" And people in our industry will also know. So I'll talk to somebody else. I'm looking at travel as an area for guides. So I called up a travel site and I say, "Hey what do you guys do? And what shall I watch out for?" If anything, my answer is go talk to smart people and try to become a little smarter. Because when you're opening a new office in a new country, it sort of what are the first five steps or something like that. And I go back to a little bit of the same answer. I start by talking to some people from there. So I opened offices in Po...
Language: English
Category: Business
Tags: Gil Penchina, Wikia
Country: United States


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