Breaking into the ASEAN market is a major milestone for any business, and doing it right requires deep insights and careful planning. That’s why our recent LinkedIn Live session with Source of Asia’s CEO, Thierry, and COO, Zacharie, was so impactful. Packed with actionable advice and personal stories, the session offered a rare glimpse into their extensive experience in navigating ASEAN’s vibrant economies.
Missed the live session? No worries! Here’s a concise recap of the top insights shared.
Real Stories from the Ground
Thierry Mermet – CEO of Source of Asia and Zacharie Blondeau – COO of Source of Asia kicked off by sharing their personal experiences of working across ASEAN’s diverse markets. From overcoming regulatory hurdles to managing cultural differences, their stories underscored the importance of adaptability and resilience.
One example they shared involved building trust with local partners, a process that required time, effort, and a deep understanding of cultural nuances. Their real-world anecdotes highlighted both the challenges and opportunities of doing business in Southeast Asia.
Key Steps for a Successful ASEAN Entry
One major takeaway was the need for a well-structured plan before entering ASEAN markets. Here are the essential steps they emphasized:
- Conduct Thorough Market Research: Understand the region’s economic landscape, consumer behavior, and competitive environment.
- Tailor Your Strategy: ASEAN is not a one-size-fits-all market. Each country offers unique opportunities and challenges.
- Start Small, Then Scale: Consider a phased approach to test the waters and refine your strategies before expanding fully.
By taking these steps, businesses can minimize risks and position themselves for long-term growth.
The Power of Local Partnerships
In ASEAN, relationships often hold more weight than contracts. Thierry and Zacharie discussed the importance of building partnerships with local stakeholders. They highlighted three critical aspects of successful collaborations:
- Trust: Establish mutual respect and transparency.
- Shared Goals: Align on objectives to ensure a win-win outcome.
- Adaptability: Be open to local ways of working and decision-making.
Building strong partnerships is not only beneficial but essential for navigating the complexities of ASEAN markets.
Staying Agile in a Dynamic Region
The ASEAN market is dynamic, with rapidly changing consumer trends, digital transformation, and economic shifts. Thierry and Zacharie advised businesses to stay agile, continuously monitor trends, and remain open to adapting their strategies.
Watch the Full Session
Want more insights? The full LinkedIn Live session is now available on our LinkedIn channel. Hear directly from Thierry Mermet and Zacharie Blondeau as they delve deeper into these topics and answer audience questions.
Download Our “Doing Business in ASEAN 2024-2025” Guide
Looking for even more actionable tips? Our comprehensive guide, “Doing Business in ASEAN 2024-2025”, is your go-to resource. Packed with data and strategies, it’s designed to help businesses succeed in the region’s dynamic markets.
At Source of Asia, we’re committed to helping businesses thrive in ASEAN. Whether you’re just starting or looking to expand further, our expertise can help make your journey seamless.
