I have previously written about the need to research and understand a market before entering it, followed by creating the right product/services and then building the necessary infrastructure for delivery and distribution.
Over the last six months, we have developed our products and services for the Indian market, firstly our book products from our traditional publisher companies, Legend Press and Legend Business. Secondly through our new venture Create Publishing which offers self-publishing services and global print and distribution to Indian writers.
However, this is still part of the preparation stage as the next task is essential to whether our business endeavours succeed or fail – reaching the right customers in India. To achieve this, we have broken it down into four steps:
1) Hiring local staff – as I’ve mentioned before, without a base in India with local staff who understand and can react quickly to the market, we have little chance of success. Each market is simply too unique in culture and trends to manage it from several thousand miles away. As a result, we are currently actively recruiting several local employees for our Mumbai base.
2) Choosing the right partners – in addition to the right local team, it is vital to work with the rights partners in the country, usually key organisation with knowledge, activity and contacts in the country. Since visiting in January, it has been great to begin working with Repro, All About Book Publishing, Penguin Random House, Amazon, FICCI, IPO, DIT and other key partners.
In the next instalment we will talk more about the 3rd and 4th key elements...