According to the Small Business Administration, about two-thirds of world's purchasing power is located outside of the United States. That's a lot of customers. Here are important points about reaching them:
Come up with a game plan
As much as you may want to march into a new place and say "Here I am and here are my products," expanding overseas takes a considerable amount of planning. Like breaking into a new domestic market, you'll want to examine your company's readiness, identify appropriate international markets and figure out your sales strategy.
I recommend: The U.S. Department of Commerce's
Export Portal,
American Express and
TradePort: have suggestions for doing business overseas and tips for setting up such a venture.
Think about the costs
There are tons of costs associated with entering new markets, and your balance sheet will only get more complicated as you go international. A few things to calculate are overseas shipping expenses, translating marketing products in other languages and establishing a local presence.
I recommend: The Small Business Administration has a wealth of information on this topic, including an extensive
report about the costs of developing a foreign market and a
how-to guide for breaking into the foreign trade game.
Form partnerships
Sometimes the most successful way of attracting customers in a new market is to work with companies or organizations already established there.
I recommend: The U.S. Department of Commerce's
Trade Information Center and the local
American Chamber of Commerce in the country you plan to do business in may be good starting points for finding other American companies or regional outfits that want to team up.