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Many of the world’s business people if not all of them dream of building a successful multinational company. The feeling of creating something that people all around the globe need and appreciate is indescribable. It constitutes that an entrepreneur has managed to find a universal language that not only local customers understand. Or alternatively, s/he might have discovered several specific approaches to engage the international audience speaking different languages.
In most of the cases, conquering new markets is a logical step in the development process of any type of business. After a time-consuming and thorough analysis, it becomes obvious what country to choose for the business expansion. What to do next? How to communicate the benefits of your company? Where to find help? To overcome the challenges, it will be helpful and inspiring to know a little about those who’ve managed to succeed. We’ve gathered the stories of the great entrepreneurs from all around the world to give you the useful tips and necessary information.
We’ll start with New Zealand as it is one of the most welcoming countries for foreigners who want to build a business there.
1. Why Choose New Zealand?
– Ranked by the World Bank survey as the easiest country to start a business in 2015.
– A strong economy and transparent regulatory environment to register a business.
– Corruption-free system, open markets, and regulatory efficiency.
Success Story
Peter Beck,
Founder of Rocket Lab
The Beginning
Meet Peter Beck who is lucky to have made his childhood dream come true. His company makes a solid contribution to the commercial rocket launch services. Peter is an award-winning scientist and engineer and became the entrepreneur of the year in 2016. The Royal Aeronautical Society presented the Meritorious Medal to him for his massive contribution resulting in the major advances in New Zealand aviation.
There were a lot of obstacles to fulfilling Peter’s childhood dream. He wanted to dedicate his life to the rocket science yet there were some slight changes to this plan. The aerospace industry became his career choice. The problem was that he was not satisfied with working for a government research laboratory as there was no possibility to do what he wanted.
The Big Step
Peter went to the U.S. to find out about job opportunities there. Unfortunately, the harsh reality made him realize that he’ll just be “be a tiny, tiny gear in a giant machine”, as he puts it. The big corporations he was dreaming of becoming a part of, had other priorities and could not let the young scientist focus on the rocket projects. On his flight back to New Zealand, he realized that the time for building his own company has come.
Peter came up with the company’s name and even drew a logo in that plane. He quit his job and started his own business.
Rocket Lab started as a New Zealand company and now is a U.S. company with a New Zealand subsidiary. The remarkable project – the Electron rocket program – lead to this change. Its mission is to decrease the costs of bringing small satellites to the orbit of Earth. The things turned out to be even better. He doesn’t work for a big U.S. company, he owns one.
2. Business Tips:
– Establish a successful business in your home country to have more opportunities abroad. A good reputation can work wonders.
– Don’t give up on your dreams easily.
– Determine a critical point to stop if the results are disappointing. If you’ve tried a lot of options and nothing works, maybe it just was not meant to be.
– Be objective about the place where you start and where you want to be in 3, 5, 10 years. Set the strategical goals respectively.
– Take partnerships or acquisitions into consideration. New Zealand attracts hundreds of entrepreneurs and there are numerous startups. You might find a reliable partner for your business expansion.
– Find some helpful information using expat networks – NZTE, Trans-Tasman Business Circle, etc.