Ken Wasylik, founder and owner of E.M. Wasylik Associates, has over 25 years of experience in helping companies expand across borders. The biggest challenge they have is deciding what market to enter. He says that after entering 2-3 markets it becomes a “process rather than an adventure.” Which market to enter first takes a little research and insight.
He helps companies look at variables such as:
At the outset, Ken's team looks at 50 countries across 20-30 variables to make sure the choice makes sense. Once the countries are prioritized, they begin the work of developing a market entry plan. Over time, the process is replicated across each country as they become a priority. He is clear in that it’s too much to try to enter multiple countries at the same time, especially when the company is new to exporting.
With all the opportunity in the US, I asked Ken why he’s such a fan of exporting. He explains that successful business is about mitigating risks and optimizing profits. Global companies are naturally diversified so when one economy drops, others are rising. Back in 2008-2009 when the US economy faltered, he saw that companies that exported grew. And, companies that export have higher profitability since US goods are in demand.
In the podcast, Ken gives examples of companies and their process for deciding what countries to enter. It’s fascinating to hear how the coolant cleaning company went to Canada, while the medical device company went to the Middle East.
Of course, I always like to hear about language translation and international expansion. Ken says that even though many senior executives are bi or tri-lingual, all the other managers, especially the local ones, may not be proficient in English, so it’s important to support the acquisition of language skills to support your expansion efforts. He tells the story of a US businessperson responding to a question that meeting their needs would be a “piece of cake.” Shortly thereafter, the in-country CEO offered lunch. Since it was still morning, the team was surprised, until they figured out that he thought they wanted cake to eat and were able to explain that the idiom, “it's a piece of cake” meant something easy to do. This is another good reminder to use clear language when speaking to people who don’t share your native language.
As for why a company would hire him instead of accessing the Department of Commerce or State Export Center resources? Ken explains that the government resources offer introductions, grants, and general country research. E.M. Wasylik Associates offers implementation, boots on the ground, and specialty research.
His advice – travel the world for great life experiences.
His favorite foreign phrase – No problem. It’s hysterical to listen to all the languages he knows that phrase in and the various meanings it holds!