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Doing Business With the World. It’s Easy. Here’s How.

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Doing Buisness With The World

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JANUARY 2010

Doing Business With the World
It’s Easy. Here’s How.

Who wouldn’t want to sell to more than 1.7 billion people? According toInternet World Stats, that’s the current number of Internet users worldwide, up 200,000 since December! How can you prepare to capture this astounding audience and do business with the world? Above all else, you need customers, but before we cover that (No. 8 below) here are other factors to consider:

1. Get a company-wide commitment. Every employee should be a vital member of the world team, from the executive suite to customer service through engineering, purchasing, production, and shipping.
   


2. Define your business plan for accessing global markets. An international business plan is required if you want to measure results.
   


3. Determine how much you can afford to invest in your international expansion efforts. Will it be based on ten percent of your domestic business profits or on a pay-as-you-can-afford basis? Set a price or percent. Stick to it.
   
   
4. Build a website and implement your international plan sensibly. Many companies offer affordable packages for building a global website, but you must decide in what language you'll communicate. Only 28 percent of the European population can read English. That percentage is even lower in South America and Asia. Over time, it would be best to build a site that communicates effectively with the world.
   
   
5. Create a blog. Blogger.com, TypePad, WordPress and Verio offer blog capabilities to help you stand out and share your thoughts with the world. Also, use other social media and networking platforms to broaden your base. Give readers (all considered prospective clients) what they want so long as it’s something related to your business!
   
   
6. Pick a product or service to take overseas. You can't be all things to all people. Ask yourself: What do we do best in the world?
   
   
7. Conduct market research to identify your prime target markets. You want to find out where your product will be in greatest demand. Market research (e.g., BuyUSA, or U.S. Commercial Service) is a powerful tool for exploring and identifying the fastest-growing, most penetrable market for your product. Find out about Export Assistance Centers (EACs) in your neighborhood or online.
   
   
8. Find cross-border customers. There is no business overseas for you unless you can locate customers first. If you do a good job with points Nos. 4 and 5, customers will begin to find you, but you cannot rely on that happening. You must market your business aggressively online and leverage social media and networking platforms so people will think of you first when they have a need for your core capabilities.
   
   
9. Set up terms, conditions and other financing options. Agree on terms of payment in advance and never sell on open account to a brand new customer. Consult with your international banker to explore options and nail down terms that guarantee payments on all your transactions.
   
   
10. Get going global. Experiment with this new business model. Give someone the freedom within your organization to run with the ball and make great things happen internationally.

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