By Ruth Stanat
Worldwide GOLD Panning for earnings in overseas Markets within the quest for brand new dealers and new revenues, mid-sized businesses in each are listening to the siren music of the worldwide industry. Too lots of them immediately leap...and quick drown. Now there is a means to guage, competently and carefully, the professionals and cons of going international. the recent worldwide Gold is a pragmatic, step by step advisor for rigorously and strategically making plans a global enlargement attempt. It explains the right way to: ** confirm if a services or products is de facto applicable for overseas markets ** work out which international locations or areas supply the most important gains -- and get inside of info from neighborhood specialists ** degree the price of getting into a marketplace opposed to the power for major and sustained revenues RUTH STANAT (Fort Wayne, IN) used to be a senior strategic making plans and advertising govt sooner than founding SIS foreign learn, which focuses on supporting agencies construct company intelligence networks. long ago few years, Ms. Stanat has traveled to greater than a hundred and ten nations to assist foreign enterprises strengthen their neighborhood enterprise intelligence, industry examine, and global alternate. She is the writer of The clever company.
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So, as novice owners of a nearly broke company, they took their last few dollars and bought a plane ticket to Europe, where they believed they would find demand for their technology. The Turkish-born Ciliv planned to begin selling in Italy because he believed that the Italians would be open minded and spontaneous about adopting a new product. His instincts were right. After two months, Ciliv closed a deal with Italcad, a large Italian distributor of computer-aided-design and computer-aided-manufacturing equipment.
This is often surprising to small businesses, who believe that they will have to export their products for reduced margins. Most often, how- Page 6 ever, foreign markets do not have the expertise, technology, or resources to produce the things that you can. This is where market research and product testing prior to market expansion can point to profits. Sometimes Opportunity Comes Out of Disaster Both Ray Ciliv and Robin Hillyard, cofounders of a software start-up outside of Boston, pledged their homes for seed capital for their software firm, NovaSoft Systems.
They have been doing this for years. They should be able to instruct you how to handle letters of credit, customers, and freight forwarders. In your home country, you should locate a banker who has expertise in handling international letters of credit. There are several international freight forwarders and shipping facilitators who will be able to assist you in the shipping of your products. You should not have to hire a staff of people to service your international orders until you cannot possibly handle the volume yourself.
Global Gold: Panning for Profits in Foreign Markets by Ruth Stanat