Wishing you and your family a Merry Christmas

Tuesday, December 25th, 2012

We would like to take a moment to thank you all for your support and following!

We  wish all of you a wonderful Christmas Day, Happy Holidays (if you are not celebrating Christmas), and a Blessed and Successful New Year!!

Exporter Negotiation Check List

Monday, December 3rd, 2012

When working with overseas customers it is vitally important that both parties are fully aware and clear on the transaction that is taking place. This Export Negotiation Check List will help you focus on some of the key factors of exporting from the US.

Here are some export negotiation points that need to be agreed upon:

  • Currency

This is important due to:

  • Clarity –

Do not assume you are both talking about USD.  When working in a global marketplace identifying the currency will allow you

Currency

to better.

  • Currency fluctuation

This is a double edge sword and depending on the currency.  Although some exporters are willing to gamble and sell their (more…)

New Year’s Resolution for 2013

Saturday, December 1st, 2012

Happy December!  

Welcome to the last month of the year.  We are fast approaching the beginning of a new year.  It is the time of year where we not only take stock in what we have accomplished in the past year on a personal, family and business life but we plan what we would like to accomplish in the coming year.

A New Year brings us a clean slate and the opportunity to start fresh, to set goals and to get results!  New Year’s resolutions are common in many countries and are a practical way we permit ourselves a fresh start and wipe out any previous mistakes that have been weighing hard on our minds.  This is the time to start something new, fun, challenging and life changing.

What will your new year’s resolutions be this year? Will you finally start your new business?  Will you allow yourself to Dare? I hope you do!  That is how all of the great businesses have started.  They have ALL started with an idea and with someone allowing themselves to dare dream, dare try, dare Make it!

How will your life be different as you receive 2014 next year? (more…)

Cultural Differences

Thursday, November 29th, 2012

 

Export and Cultural Difference

The international trade has been in existence since man began to explore beyond their “known” areas.  Ancient empires spread their wings of domination throughout the world. Although we cannot compare the ancient empires’ abilities to trade with that of a present day’s exporter, we must acknowledge that we have been trading globally since ancient times. The trade has required the trader with the understanding and acceptance of cultural differences. Export marketing acknowledges and attaches a significant importance to the diverse aspects of cultural differences and divergence of diverse aspects of world communities.

The goal of an exporter is to grow their business globally.  To do so, you must be able to grow be able to have a few basic. (more…)

Export Basics – Basic Flow

Tuesday, November 27th, 2012

 

Getting Ready for Export Business

Export business has been an inseparable part of the long distance trade. Global empires found the export business to be one of the most appropriate ways of not only expanding and gaining territorial dominance, but of also uniting the culture on the countries that were being invaded. Looking back at the characteristics of the export business, the experts found it to be reasonably unchanged over the history of the human race. (more…)

Export Shipping Documents – Part 3

Sunday, November 25th, 2012

  

Additional Documents for Specific Goods

 

Depending on the commodity/product that you are shipping you may find specific requirements needed for international shipping.

Dangerous Goods Certificate

When a product/commodity is classified as a dangerous good, it must be handled/shipped cautiously. This is why a dangerous good certificate is required.

If you are not certified (the certification is granted after taking a 3 day class and passing a written exam) you should not be handling dangerous goods shipments. A mishandled, mislabeled, incorrectly documented, incorrectly packed dangerous good shipment can cause injury and even death. Only Certified individuals must handle dangerous goods shipments.

All air shipments of dangerous goods must be accompanied by the Shipper’s Declaration of Dangerous Goods, which is required by the international air transport Association (IATA). The exporter is responsible for the accuracy and required information on this form. You are the owner of the product being exported. If you are not certified, you will need to hire a company specialized in preparing dangerous goods certificates. (more…)

Export Shipping Documents – Part 2

Friday, November 23rd, 2012

 

Air Waybill or Airway Bill (AWB) 

Airway bills are used when shipments are sent by air.  Airway bills must contain the information required for moving the shipment when you ship internationally via and integrator  (such as FedEx, DHL, UPS, USPS, etc.), or in some cases with an airline, you will need to complete the airway bill yourself. This is very simple and these companies provide both an automated (online or computer-based) or printed form.  We will have a separate section as well as a podcast covering the conveyance documents.

(more…)

Export Shipping Documents Part 1

Wednesday, November 21st, 2012

 

Export Shipping Documents   

Although there are many export documents, you may only need to get familiar with a few.  In this section we will cover all the basic documents and some specific documents.  Most products require a commercial invoice (an invoice), and an airway bill. Below you will find a list of the most common documents used for exporting from the United States.  Please know that there are many other required documents not listed, which are specific to certain products and product requirements (i.e. Department of Defense licenses for the export of Firearms).

(more…)

Basic Document Requirements for Export

Monday, November 19th, 2012

 

Basic Documents required for Export

Even though throughout the world, the necessary documentation for trade/exporting is widely different, there are some basic documents that are required for all exports. Let’s discuss a few of the necessary documents required for exporting.

(more…)

Global Trade – Payment Types

Saturday, November 17th, 2012

One of the vital factors of setting up of an export business is the resolution of payment procedure between you (the seller) and your buyer. It is common that we see a lack of consensus regarding the payment method between the seller and the buyer.  This has been and will continue to be a serious point in the transaction, which may jeopardize not only your current transaction but also multiple transactions moving forward.

(more…)

Panama Trade Promotion Act

Thursday, November 15th, 2012

The free trade agreement with Panama has been in the works for some time now.  The goal of the trade promotion act (TPA) is to eliminate or reduce tariffs for your U.S. exports shipments into Panama. It provides access to this excellent market. The TPA went into effect on October 31st. Panama’s commitment to strengthen its intellectual property vigilance update its tariff schedule prior to the agreement being implemented caused its delay.

Panama

The agreement will have a greater impact on US exports, which is the goal and focus of the Obama administration.  As we have discussed on other blogs (and in our about page), the President’s commitment to grow exports is the one of the primary drivers behind this on the other recent trade agreements implemented by President Obama.  US-Panama relationship has been strong for many years.  US goods and Services account for approximately 30% of Panama’s imports.  Although US product already enjoyed a relatively low duty rate of approximately 7% on products and a higher rate of about 15% on agricultural goods, the new agreement will bring the duty rate to zero on the majority of products.

(more…)

How can I Finance my Export Business?

Tuesday, November 13th, 2012

Stable and healthy export financing is imperative for maintaining an export business as you continue to grow your business.  The exporter may need to either look for creative financial sources or follow best practices. In the former option, the exporter could easily place a request for personal loan at a local banking institution. However, statistics have proven that most new exporters are financially unstable; therefore, banking institutions often increase the interest rates on these loans in order to offset the risk.    The cost of a loan is not only financial; it may also bring an unexpected amount of emotional stress.

(more…)

How to Select an Export Market

Sunday, November 11th, 2012

In order to maximize your profit, it is important to start your analysis from a logically sound starting point.  Your evaluation should begin with YOU.  You should first evaluate what your/your company’s strength are.  When a company or individual focuses on maximizing their strengths, the ability to maximize your profits grows exponentially.

(more…)

Making Money Every Season

Friday, November 9th, 2012

Being able to redirect business to the southern hemisphere comes with couple of intrinsic advantages. One of the advantages includes unique product selling. According to experienced marketers, exporting to a different hemisphere will help clear stale inventory that if kept, would otherwise have to sit in a shelf for 6-8 months .

(more…)

How to Market your product(s) for Export

Wednesday, November 7th, 2012

An astute Marketer carefully calibrates his or her Marketing Mix on the basis of the 4Ps namely product, price, promotion and place to penetrate the target markets. While the 4Ps work well in the domestic market setting, additional Ps are required for a successful foray in international markets like Payment (international currency transactions), Paperwork (export documentation), Practices (social and cultural factors), Partnerships (strategic international partners), Prohibitions (tariff/nontariff barriers), Political(stable governments and policies) and many more. What seemed intuitive in domestic markets does not seem to work with the same precision in foreign markets and therefore there is a need to master additional skills and have a change in mindset. However having said that, global marketing is no rocket science and can easily be learnt and practiced. Here we will discuss in brief what are essentials for export markets and the possible pitfalls if the same get ignored. What we will talk of here might seem common sense, but unfortunately get ignored much too often leading to avoidable perils. (more…)

Top 5 Nations for US Exports

Monday, November 5th, 2012

Being the largest manufacturer for over 110 years, the United States has just recently slipped to second place behind China. Although this is the case, the US is still an enormous trading force. The US’s annual exports amount to approximately $2.5 trillion. The United States encourages trade and has grown trade in Asia and Europe. Mexico and Canada, however, continue to remain in the top two export destinations for of US products. (more…)

Why You Should Build an Export Business

Saturday, November 3rd, 2012

Although engaging in the export trade may sounds unrealistic in times of financial slowdown, it has been the saving grace for many companies.  Many companies have learned in hindsight that exports offer many benefits in a challenging business environment.

In US, individuals, micro-businesses and the small business ventures constitute around 30% of all US exporting. The corresponding volume of the amount stands somewhere around $300 billion, annually. The Small business sector is the fastest growing of all export segments with an increase of just over 64% of the entire US export trade.

US financial gurus mention that small business ventures may do well by expanding and diversifying its market base by seriously getting engaged in trade exporting. Let us look into few factors, which provide a direct benefit from exporting.

 

Reason for Exporting (more…)

10 Reasons Why You Should be Exporting Now!

Thursday, November 1st, 2012

Why you should consider Exporting

Exporting is not only important for the country but it is also important for companies.  Your growth (both individually and as a corporation) is increasingly dependent on finding new opportunities.  Considering a global marketplace will allow you to focus on new markets and new opportunities.

For US, it is not the existence, but the prosperity of and progression of its financial interests. While pointing that out, let us look into top 10 reasons why you should export.

 

Top Ten Reasons why you should Export

(more…)

The Export Process

Sunday, July 22nd, 2012

Let’s take a quick look at the Export Process.  We are going to start with a broad look at the process and as we progress, each article will focus on different parts of the export business and what you need to know in more detail.

If you have ever had the opportunity to travel internationally, you have noticed a few details that are quite different than traveling domestically.

(more…)

Exporting is Easy

Sunday, July 15th, 2012

Exporting is Easy 

Contrary to popular belief, exporting is quite simple. Admittedly there are a few differences, and a few extra steps but for the most part it is a simple process.

Let’s look at a bullet point process for a domestic or local sales (transaction) process:

  • You find a potential customer
  • You negotiate terms
  • Agree on terms
  • Effect the sale (exchange goods and payment)

(more…)