Expanding To New Markets: Lets Make It Easier!

Date PublishedAugust 25, 2016
CompanyRainmaker Global Business Development
Article AuthorClark Grue
Article TypeJuly – August 2016 Issue
CategoryArticles, Business
Tags, , ,
PULSE Interactive

Expanding To New Markets: Lets Make It Easier!

Adding new markets to your business may seem daunting,
like too much work, or perhaps you simply don’t know where to start.
In this piece, I would like to share with you some ways to make this strategy less intimidating.

Brent McNiven, from XPM Global Consultants, describes exporters in three categories: 1) Those who are pushed (out of desperation), 2) those who are pulled (unwillingly), and 3) those who jump. The jumpers are the companies that have a strategy behind their market development plan and then leap with confidence, because they have done their homework. Trust me. You want to be a jumper.

But, in order to jump, you need to identify those markets, which have opportunities that will allow you to be successful, and those jurisdictions, which have favourable dynamics at play for your company. These can be basic market forces, such as supply and demand, which open an opportunity for what your company provides. More importantly, there are also supplemental dynamics, which can create opportunities for your company that do not apply to your competition. These market influences can be general advantages, such as trade agreements, regulatory symmetry, or legal systems, which interact easily. They can also include natural technical advantages, which are a product of similar geography, culture, or even religious affinities. Each of these is powerful parameter for consideration when deciding the best market for your company.

Once you have broken down your potential markets based on these factors, there is another level of advantage you should consider as a Canadian company: the Canadian Government. Yes. That is correct. As the oil and gas industry has been blazing their own path to business growth, many other industries in Canada have taken advantage of some strategic relationships developed by various organizations.


Expanding To New Markets: Lets Make It Easier!

Expanding To New Markets: Lets Make It Easier!Three important agencies to be aware of are Export Development Canada, the Canadian Commercial Corporation, and the Canadian International Development Agency. Each of these, in their own unique way and with a unique mandate, have been setting up deals around the world with major projects and in various jurisdictions for the benefit of Canada suppliers.

Many of these “pull” arrangements are agreements with foreign companies, governments, or development agencies whereby the Canadian agency provides project funding upon the condition the project uses Canadian suppliers. This provides a strategic advantage over foreign competition on many projects around the world.

So, once you have determined the most logical market for your business based on project opportunity, logistics, market growth, legal structure, supply chain availability, etc., consider the “pull” arrangements of these government agencies. You may find the Maple Leaf is more than just a symbol of trust and good manners. It may hold the key to your first win in a market.

Expanding To New Markets: Lets Make It Easier!New market development is not an easy strategic initiative, not even for the most seasoned companies. It is always better to go into a market with a competitive “ace” up your sleeve.

Clark Grue
President & CEO

Expanding To New Markets: Lets Make It Easier!






Originally published in the 

July/ August 2016 Issue of Oilfield PULSE