Timestamps:
2:14 - When to go international
9:00 - Franchising
13:02 - Associations that help you go abroad
17:26 - Receiving payments in other countries
20:29 - Trade finance
About Markus Meyer:
Markus Meyer is responsible at UBS Switzerland for payments, trade finance and leasing business. He has been working for UBS since 1996, and holds a PhD in Information & Technology Management and Banking from HSG.
According to Markus, there is no universal right timing for going international, but it is something Swiss companies should start working on as early as possible, considering the size limitation this country necessarily imposes.
Before going international, companies should take care to:
- Clearly define their USP/differentiating factor;
- Find out where their clients are, world-over;
- Ascertain what the competition is like in the countries they're looking into, and what the pricing level currently is.
Common challenges when going international:
- Sometimes you are simply not allowed to sell your product in a certain country, especially countries which already rely heavily on imports and therefore wish to protect their economy;
- Even if you are allowed to sell in a certain country, you will have to face different rules, regulations and taxes;
- Regarding distribution, companies would do well to remember that mindset changes greatly from country to country. Are you really catering to local needs? Are you falling into the (typically Swiss) trap of over-engineering?
Memorable Quotes:
"If you're a Swiss entrepreneur with a good idea, you have no choice but to go international."
If you would like to listen to our other episodes from this UBS co-production, check out our conversations with Jürg Tauss, Fabian Humbel, Thomas Hofer and Vito Gigante, and Martin Eng and Patrick Forte.
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