If you are unprepared or desperate, entering a new market can kill your business. Deep pockets won’t always save you either.
Remember Target expanding into Canada back in 2013? They had deep pockets and resources. Then after a series of missteps, they pulled out roughly two years later, incurring financial losses in the billions.
Target Canada made a lot of mistakes starting with an overly enthusiastic management team who didn’t believe it could fail. […]