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Engineering | Architecture | Design-Build | Surveying | Planning | GeoSpatial Solutions
September 25, 2014
Merrick & Company
International Start-up & Expansion
Copyright © 2014 Merrick & Company - All rights reserved.
Merrick & Company Profile
Why International?
Developing an Approach?
Internal Factors?
External Factors?
Lessons Learned
Future Growth
Questions
Discussion Topics
Copyright © 2014 Merrick & Company - All rights reserved.
Merrick incorporated 1955Market leadership:
GeoSpatial, Energy, Nuclear, Bio-Labs, National Security
Merrick revenue: $110M 500+ staff, 75+ international
International highlights Honduras GSS – 1994
Mexico subsidiary – 2002
Canada/Colombia – 2006
International focus – 2011
2020 Vision – 20% of profit from international programs
Continuing Merrick’s Legacy OCONUS
Copyright © 2014 Merrick & Company - All rights reserved.
Why?
Additional revenue source to replace declining government domestic markets
Well established (“older”) technologies and workflows are sometimes “cutting edge” OCONUS
Expands customer base
Increased profit margins
It’s a move successful businesses are making
Inserts new thought & generates enthusiasm
Approach
Opportunistic leveraging skillsets/competencies
Create an organizational focus
Determine your ethical approach (compliance requirements)
Develop local teammates
Define success…multi-markets in region
Pipeline development
Leadership – Thought, Technology & CSR
Why International?
Copyright © 2014 Merrick & Company - All rights reserved.
Factors
Executive management involvement – more than buy in
A strategic plan – with goals
Go/NoGo decisions
Funding business development
Funding legal assessments & legal entity development
ITAR/EAR compliance
Deciding what cultural markets you are comfortable in
Don’ts…
Allow executive management to task this out like a project
Do it piecemeal
Disperse decision-making
Focus all in one budget
Bid before assessing the risk
Downplay compliance because it won’t apply to you
Go where you’re not comfortable eating their food or drinking their drink
Internal Factors
Copyright © 2014 Merrick & Company - All rights reserved.
Factors
Focus on countries with strong USG (compatible) links – both government & commercial
Ensure multi-market capability
Business maturity – both market and dispute resolution
Tolerable tax regimes
Market & opportunity specific visibility
Language & culture
Their perception of you
Unlimited financial resources
Arrogance
We force deals – and don’t look for win/wins
We don’t care about people (as much)
Most put high value on our culture of opportunity
The Gold Standard
External Factors
Copyright © 2014 Merrick & Company - All rights reserved.
Balance Risk with Reward with Fit & Focus
Copyright © 2014 Merrick & Company - All rights reserved.
International Strategy - 2020
Copyright © 2014 Merrick & Company - All rights reserved.
Predictability is a moving target
Success in one market does NOT necessitate success in another
Patience is a necessity – expect long decision-making processes
Adding value in “their mind” increases Pwin
Not everyone who wants to work international should
Start small & build on success in each market you access
Metrics must match market reality
Focus is critical
Lessons Learned
Copyright © 2014 Merrick & Company - All rights reserved.
Expanding the LATAM market outside of our mature geospatial play
Bio-research laboratories almost anywhere but focused on our areas of interest
Energy in Africa
Following USG National Security & Defense projects – including supporting our international partners
Maintaining opportunistic growth while being more strategic
Future Merrick Growth
Copyright © 2014 Merrick & Company - All rights reserved.
For more information contact:
Richard Boehne
Vice President – International Business
+1-703-403-1584
Skype: rtboehne.now
Questions or Comments?