Loading

Grow Smart Business


teaserInfographic
Close

Search Articles





Is It Time to Take Your Small Business Global?

August 9th, 2012 ::

By Maria Valdez Haubrich

Have you considered selling your small business’s products to a global audience? If not, now could be the time. Why? In today’s uncertain economy, diversifying your customer base beyond a U.S. market can be key to successfully riding out tough times. The Internet and ecommerce have made it easier than ever to reach out to a worldwide market. Here are some factors you need to consider before taking the plunge.

  1. Assess your resources. Even on a small scale, selling products worldwide will require some additional time, effort and money to promote, service and ship the products. Even if you’re selling a service, such as an online software subscription, there will be translation and support issues. Make sure you have the money and manpower to do it right without diverting too much energy from your core business.
  2. Start slow. It’s best to start with a country that you have some familiarity with and that is similar to the U.S. in terms of language, infrastructure and legal issues. Avoid countries with a lot of red tape or limited English speakers. The U.K., Canada or a country where you already have a connection can be a good starting point.
  3. Do your homework. Find out all you can about the countries you are considering. Visit the SBA’s International Trade page and Export.gov to find resources and get started.
  4. Get connected. Business is all about personal connections, especially overseas. Tap into any connections to the countries you’re considering (friends, family, colleagues, social networking sites) to make connections there and learn more about doing business.
  5. Establish trust. Get to know foreign partners in person before doing business. While much of this can be done online, at some point you’ll want to visit in person to cement the relationship.
  6. Figure out shipping. Depending on what you’re selling and the volume, you might be able to use a simple solution like FedEx or UPS. If complex customs issues are involved, consider hiring a freight broker who can handle much of the red tape for you, streamlining your operations.
  7. Know how you will get paid. In the case of small sales (under $5,000) using online payment methods such as PayPal can be the simplest option. If you are dealing with larger sales, be sure to research the reputation of the customer or vendor beforehand. Your bank’s international trade department and your trade association can help. Don’t be too quick to ship product without thoroughly vetting the company on the other end, or you could get stuck holding the bag.
  8. Make your website global-friendly. Clearly state which countries you ship to or service. Consider setting up separate websites or pages for different countries. If needed, invest in translation services to ensure your site works for different audiences, and multilingual support staff to deal with customer queries.

The most important rule of all when going global: Have a well-thought-out strategy backed by research and planning. Thinking things through before you dive into international waters greatly increases your chances of success.

Image by Flickr user Sean MacEntee (Creative Commons)

 

The views expressed here are the author's alone and not those of Network Solutions or its partners.

Get more small business resources from Network Solutions

Web.com is now offering forums designed to support small businesses in cities throughout the US. Learn more about these forums here: http://Businessforum.web.com/

Tags: , , , , ,
Posted in Business Development, Marketing, Sales Process, sales process, Small Business, small business, Technology, Web Design | 1 Comment »

  • http://twitter.com/ConsiliumGlbAdv Consilium Global Adv

    strategy is really important.  a number of studies find that companies early in their export maturity focus excessively on “transactional” details (logistics/freight, payment/finance/fx, etc.) and inadequately on strategy.  Most who actually launch an export initiative do so when one of their domestic customers expands internationally and requests that they continue to support the effort – with the kicker that if they don’t do so globally they may well lose the domestic piece.

    but in my experience the bottom line difference between companies that succeed hugely vs. those that quit in frustrated disgust is simply mindset.  and a huge piece of mindset is the optimism and comfort that come with experience of having succeeded at doing this.  it’s no more difficult than the successful launch of a domestic business – but it is different.  the challenges and skills (which can be acquired) are “foreign”, literally and figuratively.

    often companies that succeed do so with experienced assistance.  an international business development consultant can make a huge difference in the ramp up time, avoidance of costly mistakes and ultimate success of a program.  that’s what http://www.ConsiliumGlobalBusinessAdvisors.com does for SMBs through our unique and innovative model of integrated services.  It’s export consulting and international sales development on an entirely new level.