Selling globally: How to get started
Selling globally: How to get started
Here are a few tips on how to get started.
Tap your network. Take advantage of your network for ideas about going global and assistance in finding strategic partners and international customers. This includes your advisors, colleagues, customers, suppliers, employees, trade association contacts and social media connections.
Leverage technology to boost your global presence. To attract international customers, make the most of today’s technology to “broadcast” your business. Examples include websites, YouTube, blogs, social media networks, and other online platforms. Regardless of the tools you use, the key is to make your business known internationally and to provide content that attracts international visitors to your website.
Determine how you will sell internationally. You can sell directly to overseas customers, but keep in mind that you will be responsible for shipping and other logistics, as well as collecting, which can be risky. A safer option may be to set up an e-commerce site or use an e-commerce platform, such as Shopify, to streamline and automate the sales and collection process in exchange for a percentage of your sales. Other strategies to consider include joint ventures or strategic partnerships with firms overseas, outsourcing global sales, using an intermediary to ship products to international consumers, and licensing and franchising arrangements.
Determine how you will collect. Fear of not getting paid is the biggest obstacle to going global for many businesses, so it’s important to have a collection strategy before you dip your toes in international waters. Strategies to consider include getting paid in advance; online payment platforms, such as PayPal; and banking products, such as letters of credit and sight drafts. In addition, the Export – Import Bank, the Small Business Administration and other organizations have programs that assist businesses in financing international transactions.
Here are a few sources for more information about selling globally:
- The Balance – Import and Export Business
- International Trade Administration
- U.S. Commercial Service
- Small Business Administration
- Think Outside the Country: A Guide to Going Global and Succeeding in the Translation Economy
- Exporting: The Definitive Guide to Selling Abroad Profitably
We hope you found this article about “Selling globally: How to get started” helpful. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
To receive our free newsletter, contact us here.
Subscribe to our YouTube Channel for more updates.
Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
GROCO.com is a proud sponsor of The American Dreams Show.
The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.
Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.
The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.
They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..
American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included:
Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work…
MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness. It’s mission statement:
In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges.
Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.
Ten Tax Tips for Individuals Selling Their Home
Ten Tax Tips for Individuals Selling Their Home The Internal Revenue Service has some important information for those who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may be able to exclude all or part of that gain from your income.…
Multitasking – Productivity Killer Or Time Saver?
Multitasking – Productivity Killer Or Time Saver? Multitasking can simply be defined as the ability to do more than one thing at a time. I often ask at my workshop if anyone in attendance prides themselves in being a great multitasker. This question is usually met with a few enthusiastic hands up. To be truthful,…
Steps to Prepare for Retirement
Steps to Prepare for Retirement U.S. Companies Can’t Continue Offering Adequate Pensions, AICPA Survey Reveals by Joel Allegretti April 27, 2006 The vast majority of CPAs serving as corporate CEOs, CFOs, Controllers and in other executive positions believe American companies can’t continue providing pensions that adequately cover their employees’ retirement years, according to the results…
Understanding the Importance of Time Management
Understanding the Importance of Time Management By Victor Ghebre Updated: 12/12/12 One of the most non-renewable resources most of us have in our lives is time. No matter how hard we work or how much we strive to accomplish time is always our enemy. However, learning to get a handle on time can be one…