Sunday, May 6, 2012
Fill In the Gaps with International Trade!
Owning your own business is difficult at times. Competition is greater because you have less “man power”, less products, and often times less money going into the business than what is coming out. At times, your product may not be selling well in your area, or may eventually become obsolete all together. If the success of your product depends on things such as say, the weather, then you may be slow for several months out of the year and this could cause financial difficulty.
Think about expanding your business through international trade. The idea of going international may sound only possible for the “big dogs”. It may seem difficult, stressful, or even pricey. Not true. There are people all over the world in need of what you have to sell and reaching out to them is sometimesas easy as a phone call or the push of a few buttons on your lap top. Following are several hints to successfully expanding your business
First, you may want to look at importing and exporting. Though importing, you could provide a greater variety to the product you’re selling with similar products from other countries. The buying or manufacturing of products from other countries may also be cheaper than production where you are. Also, the products that you import would be unique therefore your customers
would be coming to only you for them. The advantage of exporting are many. The use or need for your product could become obsolete in your country after a few years especially if you are selling computer or data products; but it could be a new, hot commodity in another country.
Say your country is experiences a consumer drought, but in other countries their economy is booming! You want your product to be where the money is. As I stated before, if your product is weather or season dependant, exporting could benefit you during those several months out of
the year when your product is not needed.
Consider adding mail order services to your present business. You can increase your selling power by using this method of selling which is favorable to international trade. The internet is a prosperous way that businesses are getting the news of their products worldwide. Use websites, online stores, and affiliate marketing strategies to obtain foreign business. The internet is not going anywhere anytime soon. And more and more people are jumping on to the whole idea of being able to shop at home. Get your product online so that it can be seen by people everywhere there is an outlet and electricity!!!
Becoming a licensing agent has its international trading benefits as well. You can earn royalties if you arrange for foreign corporations to manufacture and sell products from domestic companies. Most business owners have no idea the amount of money that they can make simply finding foreign buyers for domestic companies. On the flip side, you can earn fees from foreign companies for finding domestic corporations who are willing to buy their
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