Global Business Perspectives

Still aren’t sure about how to take your business to the global level…well here are 4 tips to understanding how your business fits into the international marketplace.

1.  Keep up with world news and events – these influence the international marketplace and could have consequences on your global business opportunities

2.  Analyze trade and economic statistics – I know these can get a bit boring but they will help you identify which markets are growing and beneficial to your products and/or services.  The CIA World Fact Book a great place to start.

3.  Obtain advice from experts

• Export and Trade counselors (U.S. Dept of Commercial Services and SBA)
• Attend seminars, workshops and international trade shows
• International Trade Consultants (private firms)
• Seasoned Exporters (those who have been there and done that)
• Trade Associations (vary depending on industry and market)
• Talk with me (I provide consulting for companies looking to do business around the globe – beverly@globalbusinessperspectives.com)

4.  Screen Potential and Emerging Markets

• Obtain export stats that indicate your product or similar type product exports to various countries – where are current exports being shipped?
• Identify five to ten large and fast-growing markets for your company’s product – review the last 3-5 years to see that growth has been consistent
• Identify smaller but fast-emerging markets that may provide a ground floor opportunity.  Fewer competitors means larger market share for you and your company! 
• Target three to five of the most promising markets for further assessments and research.  Consult with local experts to further evaluate these markets.

Now is the time to be doing all this leg work…when the global economy rebounds you want to be perfectly positioned to capitalize on all those new customers!