* David Norcross is Owner and CEO of Lexicon, premier marketing agency based in Thailand. You can also watch the full video on the Exponasia Growth Partners' YouTube channel.

David: I saw in your profile you introducing yourself as an MNC executive-turned Consultant. Would you share a little bit about your

journey?

Giuseppe: Well, I come from a small town in Southern Italy you’d struggle to locate on a map. After engineering school, I joined the Italian subsidiary of a U.S. industrial conglomerate in the plant equipment industry, which launched my international career. I was first relocated to the

U.S., then posted in Malaysia, China, and Singapore. After 15 years as a corporate soldier, I decided to move on and settle in Singapore with my

soon-to-be wife. Since then, I have worked as regional head of mid-sized international companies, primarily Sales & Service organizations, gaining familiarity with the International SME ecosystem in Southeast Asia. But after another decade in large organizations, the spark had faded. I started reflecting: how could I put 25 years of global experience to better use? That’s when I decided to start my own

consulting practice.

How was the transition from corporate to independent consulting? Was it a smooth shift or did you have to adapt along the way?

From my own experience, transitioning from corporate to solo entrepreneurship is a continuous journey of unlearning and relearning. Among the many adjustments, the most critical realization for me has been recognizing that time is my most valuable asset, and treating it as such.

Let me share a story. When I was shaping my consulting venture, I did what I was used to in the corporate world: build a business plan. I spent two months crafting a detailed document—addressable market, unique value proposition, target client profiles, service offerings, branding, marketing strategy and more. Then, I pitched it to a mentor who had made a similar career shift, seeking feedback. She wasn’t impressed. So I asked, “Is my plan missing something?” She smiled and said, “I can see you’ve wasted a lot of precious time. ”Seeing my confusion, she added, “You don’t need a business plan to start; you need a client. Stop the desktop exercises and go get one; the business plan will follow.”

That insight completely changed my perspective. In an environment that demands speed and adaptability, excessive strategizing and perfectionism can become self-imposed bottlenecks. These days, I’m much more selective about where I focus my attention. In my corporate life, I had the luxury of affording some unproductive time, a luxury you simply don’t have when

running your own business. Now, if I find myself in an unproductive meeting or discussion, I don’t hesitate to excuse myself and redirect my time to something more valuable, even if that means simply taking a break.

I read on your website that Exponasia Growth Partners is “a boutique business development consulting firm helping international

SMEs succeed in Southeast Asia. ”What does an international business development consultancy do, and how does your firm support SMEs in achieving success?

Business development consulting is about guiding companies through growth and transformation, and at Exponasia Growth Partners, our expertise lies in internationalization. Many international SMEs have the ambition and financial resources to expand but lack the dedicated expertise and bandwidth to execute their plans effectively. By nature, SMEs operate with lean teams focused on daily operations, leaving little flexibility for staff to take on additional strategic responsibilities. Even when resources are available, the absence of specialized expertise often becomes a major roadblock—especially for initiatives that require tactical or strategic thinking in organizations where staff are primarily trained for operational roles. As business development consultants, we bridge this gap, providing the plug-in expertise and operational bandwidth needed to drive international growth and transformation.As for how we do it, our services are structured into four modular offerings, each tailored to a different stage of market engagement:

- Market Entry – We support companies looking to establish a foothold in Southeast Asia, navigating the complexities of new market entry.

- Market Growth – Designed for companies already present in the region but seeking to expand into additional Southeast Asian markets.

- Commercial Excellence – We work with leadership teams to refine their commercial strategy, optimize sales effectiveness, and enhance overall business performance.

- Interim Management – We provide experienced leadership on an interim basis, particularly for companies launching regional subsidiaries. This ensures smooth early-stage operations and a structured transition to a full-time leadership team once the business reaches stability.

All our service modules are highly customizable, allowing us to tailor our approach to each client’s specific needs.

Let’s talk about SMEs. Before we started recording, you mentioned something I found intriguing; you said: “The top reason international SMEs fail when entering the Southeast Asian market is impatience”. Can you elaborate?

The industrial market in Southeast Asia is well-established, with entrenched players who have been around for decades. Many owners and managers of International SMEs often overlook the fact Japanese, South Korean, Taiwanese and, more recently, Chinese manufacturers, have

been supplying Southeast Asia with industrial goods for decades. Without an exceptional and unique value proposition, you’ll face a crowded and competitive space. Successfully navigating it requires time, market knowledge and the ability to learn and adapt. When I say “impatience,” I mean that many failures stem from an unwillingness to go through this learning process. Expecting quick returns on investment simply doesn’t work in Southeast Asia. Success takes time, and those who expect immediate results often struggle.

Besides impatience, what are other key reasons international SMEs struggle?

Other common mistakes include underestimating the need for a local presence and overlooking the importance of relationship-building and trust.If you don’t establish yourself as a committed, long-term player, you’ll struggle to gain traction in a relationship-driven business environment. I still see companies trying to minimize costs and risks by appointing local channel partners while relying on export managers who fly in periodically from halfway across the world. The reality is, if you position yourself as an outsider, you’ll be treated as one—welcomed with courtesy during visits but rarely awarded meaningful business. Establishing a local presence and dedicating time and effort to building relationships and trust are essential for success.

You’ve highlighted some of the reasons for failure. What does it take to succeed?

The three key factors I just mentioned form the foundation: commit to the market for the long term, establish a local presence, and allow time to learn and adapt. Beyond that, I’ve observed two additional factors that set successful international SMEs apart: developing a local supply chain and adapting their product and service offerings to local market demands. A common mistake is assuming that what works in other markets will work here. Unlike developed economies with uniform industrial structures, Southeast Asia presents a broad spectrum of manufacturing setups. You’ll find high-tech factories using the latest automation alongside labor-intensive operations that prioritize simplicity and cost-effectiveness. I’ve visited facilities that looked like high-tech showcases, and others where the owner told me: “Our shopfloor staff isn’t tech-savvy and doesn’t speak international languages. I don’t need programmable equipment—just something with two big buttons: ON and OFF. Can you provide that?” Understanding this diversity and adapting accordingly, not just mindset and approach, but also

supply chain and product offering, is critical to success.

What key trends do you foresee in Southeast Asia’s industrial sector in the years ahead?

Southeast Asia will maintain its role as a major global hub for export manufacturing. The ongoing shift up the value chain will continue, driving further investment in workforce upskilling and technological innovation. Educational systems will remain under pressure to supply a skilled workforce, while SMEs that struggle to adapt to rapid technological advancements may find themselves at risk.Sustainability and decarbonization will remain high on the agenda, shaping industrial policies and investment priorities. In short, the region will continue its transformation toward advanced manufacturing, with a focus on productivity, efficiency and sustainability. While the pace and specifics may vary across different Southeast Asian markets, the overarching trend will be the same.

Are European SMEs ready to capitalize on the expansion opportunities these trends are creating?

I’d say some are prepared, while others are not. Internationalization often follows a predictable trajectory—starting with nearby or historically connected markets before expanding into less familiar regions. For European SMEs, this has traditionally meant prioritizing expansion within Europe or into the U.S. Take Italian SMEs, for example—their primary export destination has long been Germany. Similarly, historical ties often

shape international expansion strategies, as seen with British businesses engaging with the Commonwealth, Spanish companies with Latin America, and French enterprises with Indochina. For many European SME owners and managers, Southeast Asia has traditionally seemed distant—both geographically and in terms of mindset. However, this perception is changing, driven by limited growth opportunities in traditional markets. It’s been some time since I suggested considering Thailand, Malaysia, or Vietnam for a manufacturing plant, only to hear

responses like, "Sure, we'll build it by the beach." Today, there’s much more awareness that these countries are not just exotic holiday destinations, but large and dynamic manufacturing hubs. For those looking to seize opportunities in this region, the key principles remain the same: commit for the long haul, establish a local presence, build your network and hit the road. You may not get everything right on the first attempt, so allow yourself the time and financial runway to learn, adapt, and refine your strategy. Guidance and advice from experts in the field can be invaluable, and this is where firms like Exponasia Growth Partners come in to provide essential support.

Can adopting Interim Management practices help international SMEs seize these opportunities?

Interim management is a powerful tool for internationalization, allowing SME owners and managers to leverage the expertise of seasoned executives without the long-term commitmentof a full-time hire. During start-up or restructuring phases, companies often require specialized knowledge on a project basis, making interim management a cost-effective and flexible solution. While adoption has been relatively slow in Southeast Asia—in my opinion, largely due to a business culture that values long-term, trust-based relationships, which may not initially align

with the short-term, more transactional nature of interim assignments—this is gradually changing. I’ve observed a rise in boutique interim management firms, along with larger recruitment firms establishing dedicated interim management practices. This shift indicates growing recognition of the model’s value in navigating complex transitions and accelerating international expansion.

Let’s talk about Sustainability: do you think the recent climate and policy shifts in the US will impact Southeast Asia?

I ask this question to every industry contact I meet. Given the apparent pullback on sustainability initiatives by a key global player like the US, could this disrupt the Sustainability agenda in Southeast Asia? The response I consistently get is that Sustainability has become

too deeply embedded in the region’s society and business landscape to reverse course. To support this widely shared view, I haven’t seen evidence of companies or institutions in Southeast Asia abandoning their sustainability programs and their sustainability drive. While

challenges may arise, I don’t foresee a fundamental disruption to the agenda.

I’d like to ask about Free Trade Agreements. How can they support SMEs in their internationalization journey?

To provide context, the ASEAN community has established several key Free Trade Agreements, including the ASEAN Free Trade Area (AFTA), the ASEAN-China FTA (ACFTA), and the Regional Comprehensive Economic Partnership (RCEP), which includes ASEAN, China, South Korea, Japan, India, Australia, and New Zealand. However, there is currently no FTA in force between the European Union and ASEAN as a bloc. While Singapore and Vietnam have concluded bilateral agreements with the EU, negotiations with other ASEAN countries are still

ongoing. It’s important to note that these agreements typically take years to finalize.

Free Trade Agreements (FTAs) can be a powerful tool for international expansion, offering advantages not only in sales but also in sourcing goods and services under more favorable tariff conditions. However, in practice, they are often underutilized. There are a couple of key reasons why FTAs haven’t been as effective as they could be for SMEs.

First, many SMEs are simply unaware of the benefits and opportunities FTAs offer. Government bodies, chambers of commerce, and industry associations should play a more active role in providing targeted education programs and advisory services to help SMEs navigate and leverage FTAs effectively.

Second, the cost and complexity of compliance often outweigh the benefits for smaller businesses. I recall a case from a few years ago when, in the company I was working for at the time, we sold and fabricated an engineered system that, to be exported under the relevant FTA, required documentation we didn’t know how to procure and it took committing too many resources to solve the issue. Large companies have internal teams or dedicated consultants to handle compliance with certification and documentation requirements. In contrast, SMEs often struggle to secure the necessary support, making it difficult to fully capitalize on FTAs. Understanding and accessing the benefits of FTAs is an area where internationalization consultants can provide valuable guidance.

What about Free Economic Zones?

Like Free Trade Agreements, Free Economic Zones (FEZs) provide a range of advantages across different areas, including tax benefits, simplified import procedures, reduced or zero import duties, financial incentives, access to resources, and streamlined administrative and

compliance processes. These measures are designed to lower costs and enhance business competitiveness. However, just as with FTAs, determining whether a particular FEZ aligns with a company’s business needs requires careful assessment. This is where internationalization consultants can provide valuable guidance.

What does the future hold for Exponasia Growth Partners?

Exponasia Growth Partners was founded as a boutique consulting firm, and my plan is to preserve that identity. Our mission remains rooted in a “boutique” approach, offering tailored and personalized support in our niche. Looking ahead, the vision is to bring more executive-level partners with MNC experience on board, expanding our expertise and extending our reach.