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n Have you actually listed the most exciting markets that you
anticipate five years hence, giving your reasons and specifying any
assumptions that you are making? (Supplementary: Have you
evaluated your capability to enter those markets and written plans
to win business? Can you state why you are confident that
competition will perform less well than you in the appropriate
sectors or segments?)

n What shows you that the exploitation of this market will deliver an
appropriate return on the use of people, resources, money and
materials?

n What is your timeframe to achieve such a return?
n How do you know that it is a realistic estimate? (Supplementary:

Have you a sufficient financial provision to enable you to enter such
a market without excessive borrowing? Could there be a more
economical approach? Have you considered the possibilities of an e-
commerce strategy for example? Do your people have the required
skills? Have they all been trained? What have you done to ensure
the transfer of skills from the training room to the workplace?)
n Have you listed and analyzed the risks of entry into new markets?
(Supplementary: Have the risks been minimized by appropriate
research? Who carried it out? How did they do it?)
n Have you completed an appropriate degree of comparative/
competitive/capability analysis to permit focused action in the
short term as well as in the future?

Summary

I The more experience that I have of international business the
I more that I become convinced that market dominance really is
I “the only game in town”. But market dominance is not easy. It
I begins with a passion to become and remain the number one
I player whether your market is great or small. It depends on a
I detailed, accurate and up-to-date understanding of your customers
I and competitors and of your own capabilities. Asking the right
I questions is essential and there is limited value in asking them
I only once. In a volatile business environment asking questions
I must be constant and you must be committed to acting on the
I answers.

You can buck the market! 161