- June 30, 2021
- Posted by: Clearport Team
- Categories: Clearport, Employers, General, HCM, Human Capital Management, Market Development
Why do you need Market Development?
To grow through Market Diversification
When businesses depend on one market only, they are subject to potential economic downturns in that market, regulatory or price changes that will weaken their business, and even to political changes that might negatively affect their outlook.
Diversifying your markets is the antidote. The popular saying “don’t put all your eggs in one basket” reflects the need to diversify as a key success strategy, and as a strong insurance policy against negative changes in your market.
But diversifying can mean many things. From expanding your business to more than one market only, to launching new services or products, or expanding your client portfolio to stop or mitigate dependance on a limited number of large clients. Diversification is a long-term strategy for growth, but it can also make your business more resilient and stable when facing changes in the economic environment that may be out of your control.
The Trade Commission of Canada says that, “by definition, Diversification is a risk-reduction strategy that involves adding product, services, location, customers, and markets to your business’s portfolio.” Here are the Benefits of Diversification as per this source:
For businesses that want to grow, diversifying to international markets is an exceptionally good alternative. We take into account many important aspects. For example, the implications of finding opportunities abroad for products are quite different than those applicable to services. The former requires considerations about labeling and packaging, freight, custom codes, warehousing, freight, etc., while selling services abroad might require local partners, certifications, travel, bidding processes, and other factors.
We can help you diversify through a full suite of Market Development Services.
To Sell your Business
Another reason you might need Market Development is to sell your business. As an Entrepreneur, if for whatever reason you have achieved a stage in which doing it makes sense, selling your business is one of the most important decisions you will ever make.
We help you to see your business objectively, prepare a proper presentation of its value and attractiveness for potential Buyers, find and engage potential buyers, and negotiate with them until the sale is closed and executed.
Our Market Development Division
Launched in 2015, Clearport’s Market Development Division helps Canadian companies to grow, expand, discover new opportunities, and face economic downturns.
Clearport Market Development becomes your own expert Business Development and Sales Force, with research and market know-how, marketing and sales capabilities, plus valuable networks (the “know-who”) to find the right opportunities that best fit your needs.
We also offer some Related Services that support your Market Development needs, with transparent fees and a clear value add to let you decide which of these related services you want to engage.
A Variable Cost to you
Our Market Development Services are a variable cost to you because our fees are based on success. That way, we have a vested interest in your growth, and we will work tirelessly to generate it.
To ensure that our Clients are also committed, we do require a minimum draw (or advance) on future commissions, which is mostly recoverable from commissions on the first sales we generate.
Our Market Development Process for Canadian Companies includes 3 phases: Discover, Sell and Grow.
We help you in every step through each of these phases, always with a sense of urgency and a clear focus on results.
We start by understanding what your Company / business is and does: what are your services and/or products; what distinguishes you from competition; what is your business model; what are your ideal markets, clients, or projects; what are your strategic needs; and what is it that you want to accomplish.
This helps us to support you in discovering realistic opportunities abroad that can help your business grow. This is an absolutely key step. If your services and/or products can objectively be competitive abroad, and you can deliver them efficiently, there are opportunities for your business.
The best opportunities will be specific to each business. For one business, the best opportunity might be to find new projects abroad working as contractor to other firms; for another, the opportunity might be to sell the business to a foreign investor; for yet another one, it could be to find partner(s) abroad to establish a joint venture focused on new markets, or to find distributors abroad.
We will consider with you some of these matters:
- Are your services and/or products competitive abroad?
- Can you deliver them efficiently?
- Are you and your Company open and committed to new markets, and to adapt as needed to get them?
- Can your business manage the additional demand from a staffing, capacity, and financial perspective?
- What local support will you need (a local partner, or distributor, etc.)?
- Will you need local staff or contract personnel, and when?
- And many more.
Once we agree on the opportunity, we define with you the Target Market(s) to focus on, and generate a Market Development Strategy, Mechanisms and Plan tailored to your business.
Once the Discover phase is completed, we move to the Selling phase. We start it by “re-packaging” your services and/or product offering, to emphasize those of your advantages that fit the Target Market(s). For example, a Canadian Engineering firm specializing in the design and engineering of Power Lines might list designing to consider the weight of snow and ice on the Line as a feature of their engineering services; however, if the target market is semi-tropical, weight of snow and ice might not be relevant, while corrosion protection may be.
With your “re-packaged” offering, we engage with potential Clients, Buyers, Distributors, Partners, or Investors, as appropriate, and define agreements that work for all parties. We then move on each case to execute and close the sale.
The final phase in our process is called Grow. After completing initial sales in your Target Market(s), we continue to provide Post-Sale Services, such as Account Management, Market monitoring to discover new opportunities, finding new clients, and more. We build on initial success to continue to expand your business, constantly adding value to you.
Clearport Market Development represents leading Canadian businesses and entrepreneurs. We have helped them to gain new markets, clients, and projects; form partnerships abroad; sell and acquire businesses; enter or expand new geographic markets; and more. We have also helped Canadian companies find opportunities, distributors, partners, and investors abroad. In the process, we also help to open paths for Investors abroad to immigrate to Canada and be eligible for Permanent Residence.
Our client companies, together, amass a broad range of capabilities that provide products and effective solutions for Private and Public Clients, Utilities, General Contractors, Developers and other firms and projects across several industries and geographies.
Through our services, we design a bespoke plan to expand your business abroad and add value to your business by diversifying to New Markets. We help you prepare to successfully grow your business abroad, and then we execute with you to make it happen. Below is a summarized list of the Market Development services we offer to Canadian Companies:
Opening New Markets Abroad
Our services start with establishing what are your opportunities in New Markets abroad, by understanding your company and business, where can it be competitive and attractive, and how. This is the blueprint to your success in new markets.
Finding Clients and Projects Abroad
With our extensive network and broad range of alliances, we can help you find Clients and projects abroad. For example, we helped a Canadian EPCM firm to prepare a Joint Bid for the Retrofit of a large Pharmaceutical Plant in Latin America, finding them the project and the right local partner to bid with. They won the competition with their Joint Bid, and the project was executed. We also helped a Canadian Technology, Telecom, and IT Integration company to bid for and win the project for the technology integration of the ground terminal of a large new Airport abroad.
Finding Partners Abroad
A Partner abroad might be the right path to your growth. As an example, we helped a Canadian Foundations company form a Joint Venture abroad, locally incorporated in a 50/50 partnership with a local Construction company, to introduce foundation systems new to that market and offer a competitive solution for many construction projects. With the Canadian company supplying technology, engineering and Directive staffing expertise, and the local Construction company supplying local know-how on constructive costs, personnel and regulations, the JV offers an attractive mix to all local clients.
Finding Distributors Abroad
We can also help finding Distributors abroad. We have the experience building distribution channels and finding the right distributors, and can help you establish a pricing and distribution model that will work in your New Market(s) for all parties.
Finding Buyers (Local or Foreign) to sell your business
If you want to sell your business and it is well positioned to do so, we can help you to prepare your position, find interested buyers (either in Canada or abroad), and close the sale. For example, we helped a Canadian printing company to sell to a Canadian buyer, a Canadian tree nursery to sell to a foreign buyer, and more.
Many Businesses that engage our Market Development services can also benefit from Related Services offered by Clearport, such as Human Capital Management (HCM) services to support their projects with the right talent.
Our Expertise and Alliances
Through in-house expertise, international coverage, and a broad network of alliances, Clearport Market Development can support your goals.
Contact us to explain your needs and find out how can we help.
Expand your horizons doing business abroad.
We can help you to determine your needs and goals, and the viability of expanding into new markets or selling your business.
With our extensive business network and expertise, we can find the right opportunities for you. Get a personalized roadmap to your success!