Is there a secret to landing a job in the field of global trade? The short answer: No. Long answer: It starts with a good international business education. The day you start high school, you should be thinking about your international career and how to develop it. If you are beyond that stage and are preparing to enter a college or grad school, find out if the school offers an in-house career development coach or counselor. If they don't, hire one yourself. After all, you are responsible for reaching your goals and making a difference in our world.
Aspiring importers and exporters who are clueless about international trade are a dime a dozen. Just looking at my email inbox, I know firsthand. But thoughtful, well-prepared importers and exporters are hard to come by. They are the ones who research thoroughly before they undertake their first business transaction. How do you go from clueless to ready for importing and exporting? What do you really need to know? Here are a few pointers to help master the global game. This is the first installment in a three-part series--so stay tuned.
Are you selling online primarily to an English-speaking customer base? If so, keep your site in English. But if you wish to expand your business internationally, say to Brazil and France, you'd better adapt your site to accommodate Portuguese- and French-speaking visitors. They won't stay long at your site if they cannot understand the language you use!
I've written extensively about the importance of not only loving what you do but loving whatever product you select to import or export. Because then you will be able to grow it over a lifetime.
Read more and see related articles here.
Photo courtesy: Flickr
I caught up with Carlos Balderrama (pictured), executive president of CODESIN. He awakened me to a sleeping giant investment opportunity: Sinaloa, a state in northwest Mexico. What follows is an excerpt from my interview with Balderrama, when we talked about what makes Sinaloa a good investment opportunity right now.
Read the complete interview: Mexico's Sleeping Giant Investment Opportunity: Sinaloa
When you mention importing from China, business people tend to roll their eyes and shake their heads a bit. Why? Because with it comes dealing with the unknown, famously low (scary) prices, inconsistent quality problems and intellectual property concerns. Here, I examine the perils with conducting business in China and offer seven lessons to help treat some of the pain points.
So you've read "How to Find and Pre-Qualify Importing Wholesalers For Your Product Line Overseas," and you think you've found the perfect overseas distributor. How do you know for sure? The only way to find out is to ask a lot of questions - 50 to be exact. Here we've created a checklist of all the questions you should ask to pre-screen distributors. You can organize this list any way you desire to better accommodate your needs. Then print it out and take it with you the next time you interview a candidate.
Read the entire article: Pre-Screening Overseas Distributors: 50 Questions to Ask
How often do you get a chance to interview a star from the Turkish version of the television show "Dragons' Den?" One in a hundred? Thousand? Million? In my case, it was the perfect combination of collaborating on a book deal ("Planet Entrepreneur"), being a member of the same global entrepreneurial membership organization (World Entrepreneurship Forum) and wanting to stay in touch with an amazing human being.
That's how I pulled off interviewing Baybars Altuntas (http://baybarsaltuntasnotes.com/about/), who in addition to being a Turkish star, is an global entrepreneur, best-selling author, angel investor, columnist, president of Deulcom International-Economist 100 Franchise Brand of Turkey-president of the Business Angels Association of Turkey, executive board member of the European Trade Association for Business Angels & Seed Funds (EBAN) and the World Entrepreneurship Forum's ambassador to Turkey and the Balkan countries.
Here's what came out of our discussion.
Congratulations! You've decided on a name for your business. Now, you must decide which legal structure is best for it. There are five common forms of corporate organization in which you can set up your import/export enterprise: the sole proprietorship, the partnership, the corporation, a limited liability company (LLC), and the subchapter S corporation. Each form has specific advantages and liabilities. To decide which form will serve you best, you must ask yourself several questions and then consult with your attorney.
If I were to ask you what a distributor is, would you be able to define it? How about a duty or a domestic export? If you hesitated to answer, you need to brush up on the Foreign Trade Regulations. Here are a couple of examples of how it will come in handy.
First, though, let's answer those questions!