Expanding into the Global Market Small Business Opportunities ABM Government Services Expanding into the Global Market Small Business Opportunities www.abm.com Richard “Rick” Phillips Chief Operating Officer February 7, 2017
Italy, Qatar, Iraq, Kuwait
Expanding into the Global Market Taking your business global requires some investment. This investment primarily includes: Building relationships Cultivating opportunities Making the effort to travel In addition to expanding your market, the advantages can be significant: Develop contacts Exchange ideas Create new opportunities for both you and your partners
Expanding into the Global Market Many small businesses think going global is a pipe dream… it's just as attainable for small businesses as it is for large businesses. Getting started in foreign markets can be done in four basic steps. Connect with large, established companies that can provide local references Create Joint Ventures Develop local leadership Go there
1. Connect with large, established companies that can provide local references Use business resources LIKE: The International Trade Association (ITA). The SBA Office of International Trade. Tradeology, the blog of the ITA. International Trade Data Bank (this is one; there are others). U.S. House Committee on Small Business’ Small Business Export Guide. The U.S. Commercial Service (an arm of the ITA; focuses on helping SMBs find international partners) to find companies in other countries that are working in related fields. Reach out to companies with offices in the U.S. and ask them for contacts in their overseas offices. A lot of foreign businesses maintain offices in America. Getting in touch with them here allows you to get familiar with each other while you explore the possibility of working together internationally.
2. Create joint ventures Once you’ve uncovered established international companies in your field, work together to build new ones. Joint ventures grow out of relationships, so take advantage of your contacts. Listen to their ideas and desires. Talk with them. Propose areas of mutual growth and benefit. Teaming with established companies means you don’t have to invest in your own infrastructure. The buildings, offices and employees are already in place; they already have boots on the ground.
3. Develop local leadership All international markets work a little differently. Each country has its own rules and regulations, cultural expectations and language. These factors are challenging to navigate and can be difficult to overcome. You need strong local leaders who understand the language, the culture and the ways business works there. Find people you can trust to communicate your vision effectively and clearly to your growing foreign office.
4. Go there Developing your business internationally can't be done entirely from the U.S. Once you have businesses to connect with, grow those contacts, start developing a work plan, get on a plane and go meet your future partners. It’s hard to create meaningful relationships solely through email and telecommuting. You have to get to know your partners. You have to see your business in action. You have to show them that you're invested in the opportunity.
ABM Government Services Global Expansion… Relationships, most work Outside the Continental United States (OCONUS) is won prior to a proposal being submitted. ABMGS continuously networks to generate partnering interests. We then develop the best relationships for specific opportunities long before the proposal is released and get the client to know us. Subcontractors, we have experience with pre-qualified, vetted subcontractors OCONUS Evaluation Boards, we understand what they are looking for in a company and too in a proposal Staff recruitment, we know where to find staff that are willing to relocate, country specific Logistics, we understand how material is procured and delivered OCONUS Labor Laws, we have experience with OCONUS labor laws The culture, we have trained staff (country specific) who advise us what to expect from a culture perspective Commitment, we travel when needed to ensure relationship/project success Sponsorship, depending on the county, may be required prior to working OCONUS Cash flow, this can be over 120 days when working OCONUS
Expanding into the Global Market Moving into foreign markets does have its own challenges. You have to be prepared to relinquish a little bit of control. Their world is not your world, and you have to trust the contacts you make and the partnerships you form to represent you. If you can find those companies who are invested in mutual growth, and connect with the people who you trust with your business, you'll uncover a whole world of possibilities.
Expanding into the Global Market ABMGS provides strategic services Outside the Continental United States that align with our vertical markets Richard “Rick” Phillips Chief Operating Officer www.abm.com