Wednesday, August 7, 2013

How can a small business go GLOBAL?

How can a small business go GLOBAL?

Even if you have a small business with less than 10 employees engaged in consumer or scientific products, which you have been selling locally, you can consider going global. You can either import and distribute products from abroad or export products made in America to international markets or both.

First, you have to be part of, or at least familiar with, a particular industry, such as housewares, hardware, or ....
If you have been manufacturing and selling products in the American market, then you want to become familiar with markets in Europe, the Far East, Latin America, etc. by reading the trade press.
Probably the most important way to make actual contacts with buyers and sellers from abroad is through industry trade shows in this country and abroad because
-- people from all over the world can visit your booth and see your products so that you can begin a discussion of mutually NS YOU  advantageous trade opportunities
-- you can walk around and see what products are available from other countries -- what products appeal to you? what is the competition? who is distributing these products in the US? does anyone else have exclusivity for distribution? could you?
-- alternatively, foreign buyers could approach you about selling your products in their country -- then you would want to know what other products they carry and from which country? what are their distribution networks?
-- as you speak to people who have products attractive to you, be prepared to indicate your successes in your market and your potential for enhancing markets for your products and theirs.
The process requires a lot of research, but can lead to global possibilities you had not imagined before.

5 steps to get ready to launch a small global business:

1. Research your industry and market -- what are the new products? what kind of distributors and stores are likely to carry them? who will be the most likely end users?
2, Attend trade shows in your industry and talk to as many people as possible -- which are the major producers and distributors? what are their specialties?
3. Learn to observe and listen first before talking too much about yourself and your products
4. be ready to discuss the markets intelligently and, if possible, to tell success stories about your own business.
5. Financing -- where possible, begin as an agent of one or more other companies, where they carry the costs for production, import/export, warehousing, etc.
After you have learned the ropes, you will be in a better position to become your own boss as an importer/distributor and exporter.

If you consider global business an exciting adventure as a way to see and learn more about the world and to enlarge your profit-making potential, then go to it with hard work and imagination!

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