International Business Idea #6: A Business Geared Toward The Locals

My friend who started the coffee business in Warsaw really was on to something. He saw an opening in that city’s local market and went for it.

Making a success of a business geared for the local market requires that you first understand the local market—what do they like, what are they already buying, and, critically, what might they buy if it were available?

The best case is when you can import or transplant a business idea you’ve known to be successful somewhere else but that doesn’t yet exist in your new place of residence. This is what my friend did in Warsaw. He didn’t invent the coffee-shop business…but he recognized that, while people in Warsaw like and pay for coffee, at the time, no Starbuck’s-like coffee venue existed. He identified a market niche and, as well, a successful business model he could transplant to fill it.