The American market for almost everything is huge, but it’s not large enough for many entrepreneurs. For these growth-minded business owners, the rest of the world is their oyster. Seeking international growth by going global as an importer-exporter offers opportunity aplenty. Some of the specific advantages presented by successfully growing globally include:
- You can extend the sales life of existing products and services by finding new markets to sell them in.
- You can reduce your dependence on the markets you have developed in the United States.
- If your business is plagued by destabilizing fluctuations in your markets due to seasonal changes or demand cycles, you can even out your sales by tapping markets with different or even countercyclical fluctuations.
- You can exploit corporate technology and know-how.
- Finally, by entering the global marketplace, you’ll learn how to compete against foreign companies-and even take the battle to them on their own ground.
The overriding reason to go global, of course, it to improve your potential for expansion and growth. And there are too many international opportunities for us to catalog them all here-or even in a much longer book than this one. The obvious opportunities are the markets in Canada, Mexico, Europe and Japan. But those only scratch the surface. There are many other fast-growing, less-competitive markets.
Just spin the globe and you can find an opportunity to sell something, somewhere. Unearthing just the right opportunity for you involves more work, of course. This information will get you started on that work.
Don’t let your geography limit how big you think, or how far you can expand your reach. Going global from the get-go is challenging, but when you take the time to invest in infrastructure and localize your approach, you’ll be able to recognize and adapt to global complexities from the start—allowing you to tap into vast and varied business opportunities as time goes on. And that puts you in a great position, not just to win locally, but to win the world.