How to open an international office (let's say in Brazil), in eight easy steps

And now, we are seriously eyeing South America. But how does it actually materialize, a new office abroad, in reality? Since we are not greedy about our secrets, we decided to share this with you. It’s like chef recipes, it always seems super easy to do it yourself, but in the end, we always end up at a restaurant. So for an international brand that desires more than just a big network, the restaurant, we want it to be a little bit us. 

Step 1 - See the end before starting

How can we achieve our goals if we don’t know where we want to go and what we want our business to accomplish or become? There it is. That’s why at the core of any growth, international or not, we need a strategic plan. This plan will determine our positioning in the market, what we want to focus on, and set objectives. It can be medium or long-term. I like a 5-year timeframe because everything goes fast, and 10 years is an eternity. From this document, and the ultimate objectives, you can determine a game plan. For us, it’s an agency with about a dozen offices around the globe. I know, it sounds megalomaniac. But one step at a time, it’s surprising what we can achieve.

Step 2 - The winning formula and the target

Now that we know where we’re going, we need to determine how to get there. If it’s about growth through new international markets, do we start offices from scratch by investing in profiles that will grow a baby abroad? Do we prefer an acquisition that will allow us to start with a good network, a good team, clients, trustworthy people, and more leaders to carry our project? Our thing is the second option. And an acquisition is fine, but it’s a complex topic: total or partial participation in the shareholding? In a majority or minority mode? What size of company? What criteria to respect? Nothing obvious, but this phase is super important. Unavoidable. Let’s move on to the next step.

Step 3 - Where and when?

Now that we know how many offices we need, how, and what our ideal acquisition target is, we still need to know where to move, when, and in what order. A tip? Think about which markets are most conducive to really benefiting from our business model (reversing the posture, stepping outside oneself), in our case an international boutique agency. Then identify those we believe are the most priority, obvious, but also those that can validate the project while giving it speed and proof of success, which will then carry it even further. For us, the beginning was Toronto. Then France. Then Asia, specifically Hong Kong. Now it’s South America. After? I won't say, but I have a rough idea. We need a phased plan. And to remain flexible, as opportunities may arise, and turning our back on them would be a bit foolish. So a clear plan, clear objectives. But with flexibility to get there. 

We therefore need to do our homework, establish hypotheses, and use all available levers to make contacts in the priority market(s) we are targeting. Then obtain sector research, inform ourselves about political, social, regulatory, and fiscal contexts. Sometimes there are gaps between what we believe is accessible and the reality. It will therefore be preferable to consider another market. Sometimes, conversely, we discover real opportunities and are surprised. Again, a step not to be overlooked. And above all, let’s avoid prejudices and stay focused on the facts. 

Step 4 - Dive in

We have contacts on the ground. We know we want to go there. So let’s go! First, immerse ourselves in the search for acquisition targets, in our case, agencies that seem to match our desired ideal profile. We need to find about ten, or more. Getting help is essential. Nothing beats references from trustworthy people who know our contacts on the ground. It can take weeks. Some will be too big, others won’t fit with our culture or values; finding real potentials is the most difficult thing. But once this is done, that’s when the real magic can happen. An important detail: ideally equip yourself with a presentation of our project that can serve as a backbone for the various approaches at the next step. 

Step 5 - The list and selection

We have a list of interesting agencies. Great. Now let’s communicate with their leaders. It’s a concrete step. We move from planning to reality, with real humans on the other side, in a different culture, with a different language. I believe that honesty and transparency save time when approaching people. The important thing is to talk to validate the chemistry level and adherence to our vision. We must clearly express our intentions to integrate their market through an alliance. The idea here is to have meetings that will lead to narrowing the list down to a handful of 4 or 5 potential agencies. Our evaluation grid must be well-constructed. Meetings are better when done with two people, for various reasons. At this step, we feel like we’re repeating ourselves, feeling like impostors even if we’re not. That’s normal.

Step 6 - The discussions

At this step, we will deepen the discussions with a handful of truly interesting agencies, human chemistry will be reevaluated, we will establish the real possible synergies, and we will attempt to project ourselves. This is where we will reduce the number of interlocutors further, but we will also try to reduce the risk. This can take a few months. We must not rush. We should come out of this exercise with a Plan A, a Plan B, and a good additional option. No more. Because spreading ourselves too thin with too many players will not only disrespect them; it will also waste our time.

Step 7 - The meetings and negotiation

This is my favorite step: going to meet in person our favorites, to exchange for real with our contacts on-site who helped us (in our case, the Quebec office in São Paulo, for example), to also approach potential service providers, whether they be lawyers, tax advisors, or other professionals. It’s at this step that we will finally initiate more serious, in-depth discussions, all under a confidentiality agreement. We will decide on an organization with whom we will begin negotiations that will lead to operational and financial hypotheses. And in the end, ideally, there will be an agreement to be formalized by all parties after a few back and forth. It seems easy but it’s extremely difficult. Like an unpredictable roller coaster. So many factors are at play. We touch it.

Step 8 - Realizing and projecting into the market

For me, this last step is both a joy, excitement, but also a project in itself that must be treated like a project for a client. An acquisition, a presence in a new market, requires organization, realization on the field with teams, operational alignments, external communications, and even a public relations and promotion exercise. It’s news to announce that must fuel our project. 

In conclusion, it all starts with an idea. Camden is that. There will be ups, downs, honeymoons, and stages of disillusionment, but when we manage to gather competent and honest people around common values and a vision, across several markets as well, an incredible feeling emerges. We are no longer alone. The world belongs to us a little. Just a tiny bit.