APRILASIA BUSINESS OUTLOOK19partners or generating revenue for the local entity, ASEAN Business Partners can do all of this and more on behalf of their clients. They offer a 'company in a box' in each of these ASEAN markets so that they can 'incubate' their client for the first couple of years until they are big enough to start managing for themselves. This ensures that clients can manage their risk when they enter a new market, and also keep their costs low in the initial years.Embodying SustainabilitySustainability is not just a value but a central guiding principle for the organization. "Sustainability is integral to everything we undertake. We strive to engage in projects that are inherently sustainable and environmentally friendly, aligning with the core values of our organization," says Sumit.Active in the ESG (Environmental, Social, and Governance) space, ASEAN Business Partners seeks to collaborate with international partners contributing global best practices in ESG. The focus is on bringing in technological advancements for initiatives such as solar power, renewable energy, and wastewater management. Sustainability is not just a value but a central guiding principle for the organization.Client Engagement ProcessASEAN Business Partners has a comprehensive client engagement process: "The initial step involves gaining a comprehensive understanding of the client's products, solutions, and the benefits they bring to the end customer" said Sumit. "The next step involves developing an entry strategy, outlining the client's market entry approach, positioning, and customer segmentation. Once this is done, we offer to deliver this strategy on behalf of our clients", he further adds. A number of B2B tech companies have been approaching ASEAN Business Partners to represent them in this market. For them, ASEAN Business Partners covers the entire customer engagement process, actively assisting in making sales or undertaking the entire sales journey on their behalf which ensures a seamless and effective market entry.Navigating ChallengesLack of understanding of the local business landscape, unreliable local partners, insufficient market homework, and unrealistic growth expectations are the common challenges international companies face when entering the ASEAN market. The key hurdle lies in the execution of strategies, particularly when companies are unfamiliar with on-the-ground situations in the ASEAN markets.ASEAN Business Partners addresses these challenges with a hands-on approach, using its local workforce and deep understanding of local environments. "We not only provide guidance on what needs to be done but actively undertake the execution on behalf of our clients. This approach ensures that strategies are not only well-conceived but also effectively implemented, overcoming the stumbling blocks posed by unfamiliarity with the local landscape", explains Sumit.Guiding Leadership PhilosophySumit's leadership philosophy revolves around three core values: integrity and honesty, a long-term perspective, and fairness and equity. He emphasizes the importance of conveying the true narrative to clients, setting realistic expectations, and providing an honest depiction of what to anticipate."A sustained approach is crucial for successfully navigating the ASEAN market, requiring a vision that extends beyond short-term gains. As long-term participants in the ASEAN ecosystem, we emphasize the importance of building long standing relationships with our trusted clientele, and we also strive to give back to the local community," says Sumit.Future RoadmapLooking ahead, ASEAN Business Partners envisions to evolve into a digital solutions aggregator. The focus is on bringing in top-tier global technology to guide local companies in selecting the right technology that aligns with their evolving needs. This includes assisting local companies in making informed decisions on technology procurement.In addition, ASEAN Business Partners aims to play a crucial role in the digital transformation journey. The organization envisions becoming a unit that aids companies in adopting new digital practices, enabling them to compete effectively against both regional and global competitors. ASEAN Business Partners is the leading market entry operator in Asia, specializing in helping international companies thrive in the diverse markets of the ASEAN regionCOMPANY SPOTLIGHTAPRILASIA BUSINESS OUTLOOK19
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