Transcript Globalize Yourself
Inflation Open economy Cheaper Labor Customers Efficient use of resources and benefits Raises Global Economy Socially Reduces dependency on local market Reduces market dominance Reduces war threat
What sort of budgets do you have set?
Will the product sell?
What do you consider to be marketing success?
Do you feel comfortable in that country?
What is the infrastructure like?
Now is the right time to go global!
• With the U.S. economy hurting, sales to international customers can soften the blow.
• The Internet has increased the ease of working internationally.
• The U.S. government is making a strong push on going global mainly on small businesses.
Start by focusing on countries whose imports to the United States are granted favored status. Once you’ve selected countries as likely sources, contact trade representatives at the appropriate embassies.
Attend foreign and domestic trade fairs where companies seeking to export to the United States are exhibitors.
Read U.S. and foreign newspapers and magazines, scanning for advertisements and articles about the product.
Build a relationship before you get down to business Don’t impose time limits Do your research Bring your own interpreter Understand body language, dress with respect, and authority
Where to find them?
Foreign company with U.S. Rep.
Branches of American Chambers of Commerce in foreign countries International Business Consultants What do you need in a Foreign Distributor Stocking or Nonstocking Salesperson Track Record Language Prompt and Competent Meet them in person and always get references!
U.S. Export Assistance Center(USAEC) Fee of $500 to $800 Prescreened partners, agents and distributors Conduct background checks & market research Find relevant trade shows in 85 countries Export-Import Bank of the United States Guarantees working capital & services loans Guarantees repayment of loans Credit insurance The product must have at least 50% of U.S. content