Three International Trade Tips DAILY OPERATIONS The prospect of selling your products or services to foreign markets may

seem appealing access to a larger market and potential investment capital can be tempting but international trade also poses challenges for the entrepreneur beyond those found in domestic markets. Keep the following tips in mind to help avoid potential pitfalls. Do your homework It may seem evident, but its worth noting that every market is unique. And while there are some differences between Canadian markets think of Vancouver compared to Montreal the gap between domestic and foreign markets can be vast, especially in terms of cultural practices and language barriers. Understanding these variances may mean the difference between succeeding or packing up your bags and returning home empty-handed. There may also be differences in the way the business landscape works, the legal issues surrounding your product or service, and language or packaging requirements that must be met. Being aware of the factors that are relevant to you before you jump into international trade will help you make the sort of splash you want. Choose your partners carefully It is important to select your partners carefully in almost any business setting, and even more so when considering international expansion. Partnering with a local representative can be an effective way to hit the ground running. However, there will also likely be a significant amount of time when you cant directly oversee operations, at least not in person. Choosing a partner with proven experience can provide some much-needed savvy, and selecting someone you can trust will help alleviate worry when you cant be there, especially if youre a particularly handson entrepreneur. Speak to the market What makes your business effective domestically may not work as well elsewhere. For example, the marketing and sales strategies that made your company successful might not directly translate abroad. Fortunately, if youve done your homework, theres a good chance youve put yourself in a position to speak effectively to prospective foreign customers. Bringing your business across borders may require establishing your brand in a market thats never heard of you, so dont be discouraged if theres some extra legwork at the start. Building international operations doesnt have to be difficult, but it does require careful planning and research to avoid possible missteps. By Roger Pierce