↓ Skip to Main Content
Selling globally: How to get started
Selling globally: How to get started
September 26, 2017
For many businesses, selling their products or services globally is a natural next step in their growth. But while the prospect of billions of new potential customers is attractive, going global can be a daunting proposition. 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.
To mitigate the risks associated with going global, it’s important to work with a team of advisors — including lawyers, bankers, and accountants — with international experience. It’s particularly critical to find a qualified lawyer who can help you preserve your intellectual property, comply with the laws in the countries in which you do business, and draft contracts that clearly spell out the parties’ respective rights and responsibilities and protect your interests.
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
Five Mistakes That Can Destroy your Career
Five Tips to Identify Exceptional Employees
how to sell products globally
running a global company
What Makes a Boss Truly Great?
Tax Filing Issues Have Jumped Greatly in 2019
Most Americans Not Aware of Important Tax Changes – Are You?
Will This Tax Season Cause Even More Stress Than Normal?
Don’t Expect to Find These Deductions When You File This Year
Many Taxpayers Surprised by Smaller Refunds
How Much Will Amazon Pay in Taxes on $11.2 Billion in Profit?
Florida Man Tries to Keep Huge Tax Refund That Was A Mistake
Why You Shouldn’t Be Planning on a Big Refund
Add These Leadership Moves to Your To-Do List for 2019
Is Paying Your Taxes With a Credit Card a Good Idea?
Are You Ready for the 2019 Tax Season?
How to Claim Deductions for the Business Use of Your Vehicle
What’s Love Got to Do With Leadership?
Is Your Large Tax Refund a Good Thing?
The Big Changes You Need to Know Before Tax Day
Will the Shutdown Delay Your Tax Refund?
How Will Billion Dollar Lottery Winner Fair Under New Tax Law?
Incoming House Democrats Win First Tax Battle
Could You Claim a Tax Credit for Your Nanny?
Are All Fines Non-Deductible?
What a $1000 Investment in Tesla 8 Years Ago Is Worth Now
This Could Be the Year to Stop Itemizing Your Deductions
What’s the Biggest Mistake Young Investors Make?
What’s New With the Alternative Minimum Tax?
In Which Leadership Traits Do Women Rank Higher Than Men?
These Two Phrases Are Signs of Weak Leadership
Why Are Wealthy Families Turning Their Noses on Hedge Funds?
The 5 Must-Have Leadership Traits for Executives
Our Latest Episode
Top Tips for Investors Straight Out of College
Important Lessons to Be More Successful
Is Your Leadership Style Motivating or Discouraging?
Despite Challenges, IRS Gets a Positive Rating for Tax-Filing Season
Are You Making These Common Leadership Mistakes?
New Administration Makes Avoiding Obamacare Tax Easier
Why Is This Top Hedge-Fund Manager Cutting His Holdings?
Republican Lawmakers Release Additional Tax Cut Proposals
Are You Hurting Your Own Leadership Potential?
Tax Changes That Could Be Better Over the Long Haul
You Can No longer Claim These Tax Deductions in 2018
Will New Alimony Tax Rules Affect Your Retirement?
Top Tax Planning Tips for Self-Employed
Stock Market Moves for Newbies
Republican Senator Wants to Reduce Capital Gains Taxes
States Taking the Federal Government to Court Over Tax Changes
New Tax Reform Could Change How Dependents Affect Your Taxes
Shareholders Pleased as Musk Decides Against Taking Tesla Private
Corporations Are High on Buybacks, But What About Their CEOs?
Are Taxes the Biggest Threat to Your Inheritance?
Financial Counseling Services
Personal CFO: Family Office Services