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27 Replies Last post: Mar 24, 2009 3:01 PM by ldelaney

Event: Going global with your small business

Mar 25, 2009 11:21 AM

Click to view SBOCTeam's profile sboc SBOCTeam 328 posts since
Jul 27, 2007
Thinking of taking your business global? Then you've come to the right place.

Laurel Delaney runs GlobeTrade, a leading management consulting and marketing solutions company dedicated to helping entrepreneurs and small businesses go global. Her company's mission is simple: to make going global easy by giving you the tools, resources, and knowledge you need.

And she feels very strongly that in today's fiercely competitive economy, it's the entrepreneurs and small business owners of the world who are turning to global trade, discovering accelerated growth and big profits, and reshaping the new world economy.

Ask Laurel questions like:

  • What is the single biggest stumbling block to taking a business global?
  • How to I find the right international partners?
  • Why should I go global?
  • How do I evaluate the benefits and risks with expanding my business abroad?
  • What advice would you offer to those of us considering expanding our business internationally?

Laurel hopes that her session empowers you to take that first dramatic step toward starting your own business and taking it global from the get-go.

Post your question for Laurel here and then check back on March 24 at 2:00PM EST for her reply. You can post a question any time during the event hour.

If you'd like to post a question, it's easy - simply hit reply. However you must be logged into your user account to do so. If you aren't a member yet, signing up is easy and free. It just takes two minutes. Click here to join now if you haven't already http://smallbusinessonlinecommunity.bankofamerica.com/create-account.jspa.
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Click to view antiques4me's profile Mogul antiques4me 22 posts since
Feb 19, 2009
1. Re: Going global with your small business Mar 9, 2009 3:13 PM
Can you talk about tips related to container shipping? Also, sometimes I do not have enough merchandise to fill one container, how can I find a partner to share costs?
Click to view Tori's profile Host Tori 79 posts since
Aug 15, 2008
2. Re: Event Mar. 24: Going global with your small business Mar 13, 2009 6:05 PM

When do you know if it's right for your business to expand into other countries? What advantages are there?
Click to view hammadi's profile Start-up hammadi 1 posts since
Mar 19, 2009
3. Re: Event Mar. 24: Going global with your small business Mar 19, 2009 4:01 PM
I, would like to stare a small business?what,s your advace
Click to view MiGrant's profile Professional MiGrant 3 posts since
Mar 23, 2009
4. How does globalization impact neighborhood businesses? Mar 23, 2009 11:55 AM
Do small neighborhood businesses like restaurants, barbershops, local retailers, etc. need to be aware of globalization? How does international trade affect those kinds of businesses, and how can an awareness of global issues make them more successful?
Click to view justobitome1's profile Authority justobitome1 10 posts since
Feb 5, 2009
5. Re: How does globalization impact neighborhood businesses? Mar 24, 2009 12:20 PM
in response to: MiGrant
What are the tax benefits of going global?
Click to view soapinmama's profile Professional soapinmama 9 posts since
Jul 24, 2008
6. Re: Event Mar. 24: Going global with your small business Mar 24, 2009 12:22 PM
When shipping product globally is there a better shipping agent versus another? What kind of extra fees does a company incur when shipping globally? What about customs? Are there basic requirements when shipping global?
Click to view justobitome1's profile Authority justobitome1 10 posts since
Feb 5, 2009
7. Re: Event Mar. 24: Going global with your small business Mar 24, 2009 12:24 PM
in response to: soapinmama
Are there certain countries that are easier to export to? Why?
Click to view soapinmama's profile Professional soapinmama 9 posts since
Jul 24, 2008
8. Re: Event Mar. 24: Going global with your small business Mar 24, 2009 12:25 PM
With going global and only speaking english, do you find there are language barriers?
Click to view soapinmama's profile Professional soapinmama 9 posts since
Jul 24, 2008
9. Re: Event Mar. 24: Going global with your small business Mar 24, 2009 12:27 PM
in response to: soapinmama
How do you figure if going global with the current exchange rate if it's even going to be a profitable venture? The dollar isn't what it was worth 3 years ago?
Click to view justobitome1's profile Authority justobitome1 10 posts since
Feb 5, 2009
10. Re: Event Mar. 24: Going global with your small business Mar 24, 2009 12:28 PM
How do you find experienced sales representatives over seas to help you meet and greet customers? Or do you have to plan for extended time overseas to make going global a go?
Click to view CommunityTeam's profile sboc CommunityTeam 132 posts since
Jul 27, 2007
11. Re: Event Mar. 24: Going global with your small business Mar 24, 2009 2:00 PM
Community please welcome Laurel Delaney from GlobeTrade. Please begin submitting your questions now. Don't forget you need to be logged into your user account in order to submit a question. If you don't have a user account simply select join now.

And don't forget to refresh your screen so you can see Laurel's latest response. Laurel - thanks again for your participation. Please take it away and start answering people's questions!
Click to view ldelaney's profile EXPERT ldelaney 16 posts since
Feb 16, 2009
12. Re: Going global with your small business Mar 24, 2009 2:02 PM
in response to: antiques4me
Sure, your best bet is to hire a global freight forwarder (or even UPS can assist on matters such as this) which serve as all-round transport agents for moving cargo, typically from a factory door to your customer’s warehouse. Their service saves you a lot of time, effort, and anxiety for a very reasonable fee (generally U.S. $150-175 per shipment) – an expense you’ll include in your price quotation to your customer and recoup when you collect payment.

Freight forwarders can be found by conducting a Google search with the key words “freight forwarder, Chicago,” for example, that is, if you are searching for one located in that city. Or try “transportation expert, freight forwarder” that might do the trick as well.

A good freight forwarder helps you make the sale and deliver the goods in a safe, timely and cost-effective manner.

If you have enough goods to fill a straight container (usually average 20 to 48 cubic feet), it’s an advantage. Your product will be loaded into the container all by itself, rather than being consolidated with other companies’ products to fill the container, and a seal will be put on the door. This means that nobody else will have access to those goods when they arrive at the port of destination, except your customer or their designated agent. This safety measure guards against potential theft, pilferage, and product tampering.

If you do not have enough goods to fill one container, as in your case, than you want to ship breakbulk (a freight forwarder can assist in this area too). Better known as less-than-containerload, or LTL, shipment, a breakbulk shipment is the most likely option to be used by new exporters, since your first orders are typically small. This is because your customer wants to test your product in his or her market before committing to a large quantity, such as a full containerload or more.

To control the expense of a small-quantity shipment, find a transport company who specializes in breakbulk. Naturally, when you are shipping a small trial order and hoping for repeat business, it will be to your advantage to control your customer's costs by getting the best rate possible. Also, when shipping LTL, you'll need to take extra care in packing and marking your cartons. Breakbulk shipments are commonly packed using pallets, slipsheets or crates.
Click to view Bluesuit's profile Mogul Bluesuit 136 posts since
Oct 23, 2007
13. Re: Event Mar. 24: Going global with your small business Mar 13, 2009 4:25 PM

How do you go about establishing a relationship with an international merchant? I was traveling and came across some innovative products that would do well in the U.S. Also, what legal or tax related issues are there with shipping goods from oversees to the U.S.?
Click to view ldelaney's profile EXPERT ldelaney 16 posts since
Feb 16, 2009
14. Re: Event Mar. 24: Going global with your small business Mar 24, 2009 2:04 PM
in response to: Bluesuit
The first step is to track the merchant (you didn’t say what country you were traveling in) and contact them directly. I am assuming you purchased a couple of the products that you found innovative and the labeling is still intact to determine who distributes or manufactures the product.

Do a search online to match up your findings to the label and then attempt to communicate directly with the company to find out whether they are interested in working with you as an importer on the product line to the United States (consider exclusive distributor or non-exclusive – whatever is most advantageous to both parties). Find out if they have experience selling their products worldwide. If not, that could be a red flag (due to communication barriers, legal issues, quotas, etc.). Find out why they are not selling overseas. You’ve got nothing to lose.

As a second step, you might contact the U.S. Embassy (www.usembassy.gov/#) of the country where you wish to import from to learn if there are has been any bad press on the company you are about to business with or any hidden restrictions (word gets around fast … but you must ask the right questions to find out things) to doing business with them, period. You want to get a sense of their reputation in the marketplace in a most neutral, objective manner. In addition, U.S. Embassy will assist you with legal or tax-related issues relating to your product line (since you didn’t say what it is … food, computer software, jewelry or clothing, for example). It’s better to learn well in advance any potential barriers to import on a product BEFORE you place an order, pay for it and find out later during the transit process that the product is prohibited for entry into the United States.

You might also double-check with a few global e-commerce sites to see if the company is listed or if there are other companies who produce a similar product but cheaper and with better quality. Among places to review are:

Alibaba (www.alibaba.com)
Global Sources (www.globalsources.com)
Tradekey (www.tradekey.com)

As a third step, contact your own international lawyer and accountant (I am counting on you to have these experts already in place) to find out about key considerations for importing the product line, like trademark and patent issues, methods of importing to ensure tax savings, exclusivity contracts, etc.

Lastly, the best sign of a green light to import successfully is to find out the manufacturer does business all over the world but not yet in your country or city! This indicates they have the international experience and can help you get started quickly and efficiently. Ask for references to their other exclusive importers around the world so you can get a feel of what it’s like to work with the company. You are seeking a long history of positive experience and impressive sales results. Good luck!
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