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EXPORT
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May 201
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EDA Office of Foreign Trade • Riverside County, California • USA •
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The current economy does provide
opportunities for anyone who can
take advantage of international
markets. We believe companies should
consider import/ export opportunities
internationally — new clients, new
markets and new efficiencies for
their supply chain. International
trade among large corporations has
existed for eons, but doing business
internationally has never been
easier for smaller organizations.
Seven (7) simple tips for expanding
your business internationally:
Do your research. International
business is more difficult and complex
then domestic business. Therefore,
understanding it will be challenging,
but market research will help level
the playing field. Since its difficult
these barriers to competition can
be your advantage. Read as much
as possible about your target
market (history, culture, customs,
politics and business practices).
Don’t follow the herd. All too often
7
Keys to Growing your
Business Internationally
companies follow their competitors
to foreign markets for all the wrong
reasons. Make sure you have the
right people on your team to make
sure you make the right decisions
plan, plan and plan some more.
Communication – Learn a few words
and cultural nuances of the host
county to show you are interested in
being a good partner. Remember, in
communication the words we choose
only represent approximately ~ 7% of
the impact on any communication. Pay
attention to body language and tone.
Find the right partner (Direct local staff,
agents, distributors, joint venture, or
licensing). Its better to take your time
finding the right partner otherwise
you will spend most of your time
regretting your decision and trying
to get out of a legal arrangement.
Each of the aforementioned options
have their strengths and weaknesses.
Make sure the one you choose
fits your long term strategy.
The devil is in the details. You have
competed your research and are
prepared to do business internationally
(
the sky’s the limit). All that you need
to do now is send it to the local port
and the money will roll in right …. NOT
so fast. International business logistics
and your supply chain is much more
complex than domestic operations.
Leadership’s commitment to
international sales. Don’t see this as
a short-term solution. International
markets can provide stable and
sustainable growth opportunities.
Just do it! It’s time to execute your
plan. Don’t let indecision or fear stop
you from entering your new found
marketplace. Remember, though you
must be aware of local customs and
market conditions be careful not to
change you business model too much.
Otherwise you will be moving away
from your company’s core competency.
Rather adapt to the new market and
make slight adjustments. Now it’s time
to let the money start rolling in.
Brad Holt, Phone: 949 533 4681,
E-Mail:
Brad Holt
