practical ways to increase your global business
TRANSCRIPT
Practical Ways to Increase your Global Business
“Arise, go forth and conquer as of old.” (Tennyson – The Passing of Arthur)
Practical Ways to Increase your Global Business
If you are “New to Export” how do you know you are ready to export?
• One simple way is to take the assessment test at http://export.gov/begin/assessment.asp
• Self-assess: Use SWOT and/or Porter’s 5 or 6 Forces Analysis
Practical Ways to Increase your Global Business
If you are exporting and want to put the “pedal to the metal” andopen new export markets…
• Do you have a written export plan & strategy? • Is the plan part of your company’s DNA?• Is upper management buy-in at 100%?• Is your cash flow on solid ground?
Practical Ways to Increase your Global Business
Market Selection
PartnersMarketing
Finance
Logistics
HR
Sales
Product Selection
Entry Mode
Export Plan Components Export
Success
Practical Ways to Increase your Global Business
Examples of winning export plan component strategies
Finance:
1. Using Credit Insurance (EX-IM Bank) to gain new customers & increase order sizes
2. Develop an Export List Price in local currency to increase revenues 5 to 15% via foreign currency exchange (FX)
Practical Ways to Increase your Global Business
Examples of winning export plan component strategies
Marketing:
1. Promote your product at overseas trade shows – The SBA funded STEP Program (50-75% reimbursement of trade show expenses)
2. Polish your image by:a. Upgrading/Scaling up your website (E-Commerce; Downloadable Files)b. Translating key marketing materials (“begin small & start promptly”) –
hard copy, flash drive, CDc. Making marketing materials more visual – photos, illustrations &
graphs
Practical Ways to Increase your Global Business
Examples of winning export plan component strategiesSales:
1. Get FREE or low cost secondary research from International Trade Centers, SBDC’s, State Agencies (DCEO), Federal Government (Dept. of Commerce)a. Market Selectionb. Market Entry
2. Find new overseas reps, distributors & partners via:a. Dept. of Commerce Gold Key program ($700 - $1300)b. Go to trade shows & trade missions (STEP program)c. Connect with OTI foreign offices
Practical Ways to Increase your Global Business
Examples of winning export plan component strategiesLogistics:
1. 3PL’s
2. Consolidated Uplift – Express Delivery
US Mfg. 3PL EU WH.
EU Customers
SE
IT
DE
US Mfg.Consol. Small
Orders
ITEU
Terminal Express shipments to EU Customers
SE
DE
Practical Ways to Increase your Global Business
“…be fearful when others are greedy and greedy only when others are fearful.”
(Warren Buffet)
“Vini, Vidi, Vici”(Julius Ceaser)