Taking Your Business International

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Taking Your Business International


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Summary:

Q: I’m interested in expanding my business internationally. I’ve done some reading, but there’s so much information. Can you offer any guidance on how to start?
-- P. Granger.

A: Thank you for your question, Mr. Granger. While I don’t have personal experience in international sales, I turned to an expert for insights. Here’s what I learned.

Article:


Q: I’m interested in expanding my business internationally. I’ve done some reading, but there’s so much information. Can you offer any guidance on how to start?
-- P. Granger.

A: This is a fantastic question, Mr. Granger, and to provide a comprehensive answer, I consulted Jose Rodriguez, President of RISMED Oncology Systems. His company delivers advanced medical technology globally, making him an ideal source for advice on international business.

Key Advice for Going Global


Build a Strong Domestic Foundation

Jose emphasizes that before expanding internationally, you should ensure your local and domestic business is successful. This foundation will support your international ventures.

Instill Customer Confidence

When selling internationally, provide exceptional service to build customer trust. Consider offering 24/7 support, extended warranties, and other services that reassure your international clients.

Understand the Rules

Familiarize yourself with all international trade regulations, both domestic and those of your target market. Knowing these rules helps you navigate legal requirements and exceed customer expectations.

Master International Shipping

A solid understanding of shipping modes and regulations is crucial. Any shipping issues are typically seen as the seller’s responsibility. Have policies in place to avoid complications and keep customers satisfied.

Partner with Experienced Companies

Collaborate with experienced companies for shipping, insurance, and freight forwarding. These partners can help maintain order and resolve issues in their respective areas.

Secure Agreements in Writing

Always formalize agreements with written contracts and necessary signatures. International business often requires official documentation, and clients are accustomed to this process.

Include Detailed Packing Lists

When shipping goods, always provide a packing list and number the packages (e.g., 1/5, 2/5). This ensures transparency and aids in resolving any disputes or issues that arise.

Implement a Damage Policy

Include a clause requiring clients to report any damage or loss within 24 hours. This should be reported to both the local delivery company and the shipping firm on your end.

Confirm Completion with Documentation

For services provided abroad, have the necessary paperwork for clients to sign off on completed work or deliveries. This secures mutual agreement on the transaction.

Ensure Secure Payment

Depending on the sale amount, require advance payment in U.S. currency or through a flexible, irrevocable letter of credit. This ensures smooth financial transactions and protects your interests.

Conclusion

Jose’s advice offers a solid starting point for entering international markets. It’s crucial to dive deeper into specific areas related to your industry and target countries. Thanks to Jose for sharing his expertise.

Good luck on your international business journey!

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