Global Markets Through the Lenses of Curiosity with Giovanni Baccini

Giovanni Baccini is the Managing Director at Lewden Palazzoli Group who has 20+ years of experience acquired in more than 20 countries (Europe, U.S.A., South America, Middle East, Far East, Australia). His practices are in different business sectors: Mechanical Textile machinery, electronics, Access automation, Electrical Motors, Electrical-Power distribution, and lighting. His career started as an electronic design engineer, he moved soon after to sales with regional (national) responsibility to sales directorship to business development to managing director. His past and current experience give him the ability to execute a variety of sales and marketing strategies designed to establish a market presence and increase revenue and profitability in consolidated and emerging markets. Giovanni was also our guest before this episode. In that episode, he talked about how to adapt to the local market through discussing international standards, how it changes from one place to another, and the importance of language and culture knowledge in building and expanding transactional relationships with new markets. If you would like to listen to that episode again, you can reach it from here: https://apple.co/3ap58vU KEY TAKEAWAYS When entering new markets, it is important to first assess the risk of doing so. Next, you have to get educated on what type or market your company will be operating in and learn about their needs for success- This includes understanding who they are targeting with goods/services as well as how best can help them achieve these goals. Lastly, there should always remain an open mind willing to ask the right questions to the right people. BEST MOMENTS “The first one is definitely risk mitigation. So, when you are thriving or you're developing quite well your indigenous market which could be UK or Italy for us, is always important to mitigate the risks of fluctuations which might happen within the market which could be done to economic situations, or things like new legislations which might bring in new competitors.” “There's always curiosity will lead to maybe a network of people that you need to have to learn what's happening in a particular area, how they can answer to the demand to the needs of this area with something which could be a product that they wish to have, you know, and in a globalized world is easier to find things online, you know, but how you communicate the difference between a product which might come with such certain features and benefits to the market is crucial and how much these features and benefits then meet the customer needs.” “The biggest challenges are therefore understanding the market and finding the right people. So you need to speak to a lot of people. You need to spend your time with people and understanding what's happening. Spending time locally. Don't believe that anything you can see over the internet can answer your questions.” “Perseverance as well is a big factor. Because there will be a lot of failures in these in this approach honestly, and you don't need to be afraid about failures in these respects. Because a you don't know the market b You're trusting the information you're receiving and you're trying to put together a picture and there is nothing wrong to start somewhere and see what are the outcomes in order to start learning as well from your own experience.” “The digital area can help businesses in making as much as possible seamless the communication between a manufacturer or service provider to the market, which you are trying to deliver your services or products.” ABOUT THE HOST Levent Yildizgoren, the author of 'Good Business in any Language', is an award-winning entrepreneur, localisation professional, and a PRINCE2 qualified project manager. CONTACT METHOD Linkedin:  https://www.linkedin.com/in/leventyildizgoren/ Twitter: https://twitter.com/yildizgoren IG: https://www.instagram.com/levent.yildizgoren/ ABOUT THE GUEST Giovanni Baccini is the Managing Director at Lewden Palazzoli Group and has 20+ years of experience acquired in more than 20 countries (Europe, U.S.A., South America, Middle East, Far East, Australia). CONTACT METHOD www.lewden.co.uk https://www.linkedin.com/company/lewden-palazzoli-group/ VALUABLE RESOURCES Do you have any questions about translation, localization, or international growth? Visit TTC website: https://ttcwetranslate.com/ Take your business global with the 5-step LINGO modal! Purchase 'Good Business in any Language' on Amazon now: https://cutt.ly/2ORR