Even Facebook and Google Have Failed In Foreign Markets
Failure to Research and Understand Foreign Markets
I have concentrated on international business development since I began my career in high tech. I have counseled and observed many startup companies planning entry into foreign markets. The most common mistake is the failure to plan carefully and to understand the significant difficulties as well as the opportunity. Even Facebook and Google have not succeeded in foreign markets due to their failure to adequately understand the difficulties.
READ MORE: Facebook’s International Business Blunder
I strongly recommend this book, Blunders in International Business by David Ricks. I refer to it often. It is an anthology of case studies of poor international market decisions that are very illuminating and also occasionally amusing. Available in paperback from Amazon.