Hello and welcome! I’m Michael Groom, the founder of Lucid Electronics. Throughout my 30+ years working for technology-based organisations, I have come across numerous companies with fantastic products, great pricing, support and technical expertise – in theory at least, many of the attributes required to be successful. However, these companies often lacked the resource and/or knowledge required to enter a new market, which is why I established Lucid; to fill what I perceive to be this gap in the market.
All markets are different, Europe more so than most, as it consists of around 50 countries (depending who you ask!). Every country has its own language, cultural traits, and ways of doing business. For many overseas manufacturers, without an existing presence in Europe, the thought of entering this market can be a daunting prospect. So, which approach is most effective?
- Set-up in the region, employ people, acquire premises, etc.
- Employ a project-based consultant to devise a strategy and market approach.
- Appoint distributors, support business development from a distance.
- Employ a commission-based sales representative, from an agency.
As with everything in life, there are pros and cons with all of these scenarios. Scenario one is probably the most expensive, not to mention fraught with risk. Scenario two is great while it lasts, but what happens when the consultant departs? Scenario three is also more than viable, in theory, but distributors often promote multiple competing suppliers – how are you going to get mindshare? The same could be said for scenario four, although that, of course, depends on how the rep company operates.
So how does Lucid fit in? Although Lucid is not a consultancy-based company, we offer consultancy services, especially during the early stages of development. Lucid is also not a distributor – we leave this to the experts – but we do work on behalf of the manufacturer to establish a distribution network (and act as the bridge between the two). Lucid is also not a typical sales rep, as we offer supply chain support (i.e. local warehousing & supply), as well as consultancy-type services – a genuine partner rather than just another 3rd party vendor.
I like to think of Lucid as “a manufacturer’s sales agency, with a difference”, a company that understands the demands of today’s ever-changing and competitive European marketplace. If you are a manufacturer from either one of the two markets we serve, please contact us, we would be delighted to hear from you.