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7919 Hampton Lake Drive, Tampa, Florida 33647 USA Telephone: (813) 991-5245 Skype: Robert D Francis “Going Global” April 15, 2015 Robert D (Bob) Francis OR “Developing Your International Business For Fun and Profit”
Why? Or Why Not? Increase Revenue and Profits –We are in a global market Block a Competitor –Deny them a non-competitive / profitable market Attract an Interesting Partner –Gain exposure and experience
Creating An Export Business Research Market Requirements Select Appropriate Products Understand National Standards & Regulations Determine Market Entry Strategy Gather Resources From All Sources Making the Connection Plan Your Work and Work Your Plan Have Fun and Make money!
Research Market Requirements What is current size and growth rate of market? –Reliable statistics What About Competition? –Local or Multinational Company –Represented by Distributor or Agent What about Cultural/Business Issues? –Is local content required? –Is Intellectual Property Protected? –Culturally Acceptable?
Select Appropriate Products Define the market (Country) you want to enter. –Use US Foreign Commercial Service Staff –Participate in Trade Missions –Attend Trade Show/Conference –Hire a Consultant or Mentor Consider Technical Standards What about Market Requirements?
Understand National Standards & Regulations Understand Regulatory Environment –Homologation is common –Who owns the “Approval”? Research Technical Standards –Very few Global Standards –Barriers to market entry Trademarks, Patents and Intellectual Property –Some countries ignore property rights. –Obtain appropriate Patent coverage.
Determine Marketing Strategy How to sell to your Customers –Direct Sales –Choose a Local Partner Distributor Agent OEM –Establish A Subsidiary Advertising Internet Sales
Gather Resources International Trade Administration (www.Trade.gov)www.Trade.gov Tampa Bay Export Assistance Center, Clearwater International Trade Development, Enterprise Florida, Tampa City Center Florida Small Business Development Center @USF, Tampa Port Authority Building Industry Associations and Organizations Consultants and Mentors Online Research –Department of Commerce Country Reports –CIA Fact Book
Making the Connection Participate in Industry & Government Trade Missions American Chamber of Commerce in-country US Embassy and Commercial Counselor Staff –Start with US Department of Commerce in Washington US and Foreign Business Groups –Russian-American Business Council Foreign Embassies and Consulates in US
Plan your Work & Work Your Plan Concentrate on one new market at a time! Develop a Market Entry Plan –Summarize what you know –Understand what you don’t know –Identify sources of needed information –Establish a time line for completion –Gather your resources –You cannot have too much Information Track Results (One chance to make a 1 st Impression) Fail Early!
Have Fun and Make Money-BUT! Payments and Collections Cash In Advance Letter of Credit Bank Guarantee Credit Card Financing Options Banks World Bank, Exim Bank Government Agencies-US AID Shipping Options Air, Sea, etc INCOTERMS: FOB, CIF, etc Taxes and Duties Export Licenses
Thank you for attending today Robert D (Bob) Francis Managing Partner Milford Communications Partners LLC 7919 Hampton Lake Drive Tampa, Florida 33647 Phone: 813+991-5245 Skype: Robert_D_Francis Bob@MilfordCommunications.com www.MilfordCommunications.com
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