Growth Through International Expansion
With a population of just 5.7 million people Denmark is a very small market representing less than ½ percent of global demand. One of the main reasons that the country nevertheless enjoys a place among the twenty richest countries in the world is the ability of its private enterprises to sell their products and services on the global markets.
Vaeksthus Copenhagen is a public funded organization chartered to support startups and small businesses in upgrading their business development and leadership skills with the objective of accelerating their domestic and international growth. By organizing training and matching the companies with private business advisors, Vaeksthus Copenhagen plays an instrumental role in ensuring that investments in new products and services find a fast route to the global markets compensating for the small size of the domestic market.
“When it comes to innovation Denmark is in the global top league,” says Niels Boje Lund, project manager with Vaeksthus Copenhagen. “However, for most Danish companies the domestic market is simply not big enough to support the business volume needed to provide the profit required to reinvest and stay competitive in the long run. Our job is to help small companies reduce the risks related to export and find faster ways to the global markets supporting their competitiveness, growth and job creation.”
Vaeksthus Copenhagen has engaged TBK Consult to provide a series of workshops titled “Entering Foreign Markets” for their “Growth Through Internationalisation”
“We have chosen TBK Consult because of their specialization in helping companies entering foreign markets,” says Niels Boje Lund. “TBK’s experience and approaches are an excellent fit for the type of companies that we work with where an action oriented and hands-on approach is preferred.”
Business model management
The 1st workshop uses the business model framework introduced by Alexander Osterwalder. The attendees identify the differences in their business model environment in the export market and the adjustments required in the business model to start and run their revenue generation process successfully.
The 2nd workshop gives each participating company the opportunity to test their proposed approach individually with the TBK consultants Hans Peter Bech and Steen Helmer.
“We work with businesses all over the world and the issues that they face entering foreign markets are basically the same,” says Hans Peter Bech. “Danish companies have the additional challenge of a very small domestic market, that literally pushes them out of the nest before they are ready to fly. However, there are ways to overcome these challenges and initiate global growth on a shoestring budget.”
Growth hacking social media
“Small companies with limited budgets must find ways to take advantage of social media, building awareness and relationships with their target audience in their new markets,” says Steen Helmer, social media expert with TBK Consult. “Despite a very tight agenda for this 1-day workshop we will find time to discuss how companies can use social media to engage with their potential customers and business partners.”
Among the social media platforms discussed LinkedIn and the LinkedIn Sales Navigator will receive special attention as the primary tool for identifying and engaging with potential customers and business partners in new markets.
About Vaeksthus Copenhagen
Vaeksthus Copenhagen offers guidance to small and medium-sized enterprises, who wish to enter new markets, develop new products or increase profit. Our counseling is independent of commercial interests. Learn more about us: www.vhhr.dk/