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Global_Revolution_Find_the_Right_Overseas_Partner
| Global Revolution: Find the Right Overseas Partner
Dream of seeing your product in stores around the world? Unless
you have years of international experience, you'd be wise to
find some overseas distributors. Otherwise, your unfamiliarity
with foreign business customs could stall your efforts.
The most helpful distributors will buy products from you, then
warehouse, distribute, and sell them to customers. They'll also
handle customer service. (Note: These folks are not always
called distributors. In Japan, they're known as wholesalers.)
Networking among trusted business colleagues is the best way to
find a reputable distributor. If you don't have many overseas
contacts, take heart. The U.S. government offers an alphabet
soup of programs that are designed to help small business with
this -- and many of them actually work. The U.S. Department of
Commerce (http://www.doc.gov/) offers a wealth of resources
through the U.S. Export Assistant Center, the International
Trade Administration (http://www.ita.doc.gov/), and the U.S.
Commercial Services (http://www.usatrade.gov/).
Want to research potential markets? Contact the ITA's Commercial
Information Management System (CIMS), which collects data that
will help you track down your target customers. Ready to pair up
with a partner? Call the The Matchmakers Service, offered by
both the DOC and the ITA. It introduces new export companies to
agents, distributors, or large retailers with an interest in
their products. Similarly, the Agent Distributor Service finds
qualified distribution firms that are currently handling
products similar to yours. An ADS search will generate up to six
names of distributors who have an interest in specific U.S.
products. Smaller companies with bigger budgets should also
check out The Gold Key Program, which will introduce you to pre-
screened potential business associates, whether you are seeking
an agent, a distributor, or a joint-venture partner.
Uncle Sam will also help you nail down the details of selling
overseas. Trade missions, for instance, will help new exporters
establish sales and set up representation abroad at a low cost.
The DOC's Export Contact List Service generates a mailing list
of potential importers for your product from the agency's
automated global network of overseas firms.
Once you have found a distributor, how do you find out if it's
reputable. First, secure an in-depth profile on your potential
partner through World Trade Data Reports. You can obtain one of
these reports through the ITA. Next, use Dun & Bradstreet's
Business Identification Service (http://www.dnb.com/), which
will provide you with a credit report and other financial
information on the distributor. Finally, contact the U.S.
Embassy (http://www.travel.state.gov/links.html) in the country
in which you hope to do business and run your prospective
customer's name by them, just in case they know anything. You'd
be surprised at how willing they are to help.
Once you've qualified several prospective distributors, I
recommend that you meet with each one and decide who comes
closest to sharing your views on market penetration. Then you'll
be ready to talk business.
About the author:
Laurel Delaney runs a global marketing, consulting and web
content providing company aimed at entrepreneurs and small
businesses. She is also the creator of the much-talked about
"Borderbuster," monthly FREE newsletter. She can be reached at
ldelaney@globetrade.com or visit http://www.globetrade.com to
sign up for newsletter.
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