Ep29: Yoshwin Punjabi: Cracking New Markets Through Family and Transparency

Your Business – Your Next Level

In this episode of "Your Business Your Next Level," I welcome Yoshwin Punjabi, a Bangkok-based businessman with extensive experience in traditional African FMCG, chemical commodities, and biopackaging manufacturing. Yoshwin shares his insights on navigating international markets, particularly his work exporting to Africa and the Middle East. We discuss the challenges of entering new markets and how he views the African market as one that becomes easier to understand over time—comparing it to chewing gum that gets softer the more you work with it. Yoshwin emphasizes the importance of family, transparency, and keeping costs low in running a successful family-owned business. He also offers advice on how businesses can penetrate commoditized markets by identifying the right opportunities and perfecting their products to meet the market's specific needs. This episode is packed with valuable lessons on market adaptability, collaboration, and strategic growth for entrepreneurs looking to expand into global markets.

Key Takeaways:

Understanding New Markets: Yoshwin shares his experiences working in Africa, explaining that while the market is tough to crack initially, persistence and understanding of local practices lead to success over time.

Family First, Transparency Second: Yoshwin credits his family’s commitment to working together and maintaining transparency as key factors in their business success. Their business model puts family before systems, which creates a strong foundation for growth.

Penetrating Commoditized Markets: Yoshwin discusses the importance of identifying market needs first, and then crafting a solution that addresses those needs effectively. He highlights how small adjustments in product features can make a big difference in market acceptance.

Sampling and Feedback: Yoshwin underscores the value of continuous feedback from customers and testing products through samples to ensure they are tailored to meet local preferences, especially in highly competitive, low-margin industries like food and chemical commodities.

Strategic Relationships with Governments: Yoshwin shares how businesses can work with local governments to secure incentives and tax breaks, particularly when setting up manufacturing operations that benefit local economies through exports.

Timeline Summary:

[00:00] - Introduction to Yoshwin Punjabi and his global business experience.

[02:00] - Challenges and opportunities in doing business across Africa.

[05:00] - The importance of family, transparency, and a cost-conscious approach in business.

[08:00] - Penetrating commoditized markets by identifying and refining the right product.

[10:00] - Sampling, feedback, and perfecting a product to meet market needs.

[12:00] - Collaborating with governments for incentives and manufacturing opportunities.

[20:00] - Final thoughts on the value of curiosity and continuous improvement in business.

Links & Resources:

https://www.linkedin.com/in/yoshwin-punjabi-4113591ab/

https://www.linkedin.com/company/earthmates-international-llc-uae/