Gaukhar Kydrykhanova’s fascination with international trade began when, as a thirteen-year-old, she developed an interest in the problems caused by illicit cross-border trade. This spurred her to devote many of her initial years as a student to doing intensive research on the issue of international drug trafficking.  

“I learned about the important impact that international trade is making on the regional development and reduced transnational crime. But research was not enough. I wanted to bring in practical change.” 

Gaukhar earned the Presidential Scholarship to complete her Master’s program from the University of Birmingham, UK. Upon her return to Kazakhstan from the UK, she was recommended by the scholarship administration team to be considered for an expert job role at the Kazakhstani Ministry of Industry and Trade. Gaukhar joined Kazakhstan’s WTO accession team on a cold February day, which marked the beginning of an incredible career full of exciting adventures and interesting discoveries.   

Playing a lead role in organizing the women leadership initiative 

Women’s leadership is an essential topic in both Canada and Kazakhstan. Therefore, it was a matter of pride for Gaukhar to allocate her efforts and resources to plan and organize a visit with prominent women in business and female policy-makers from Canada. It was equally fulfilling to see well-known and inspiring women from Kazakhstan come to the event in huge numbers to support the round-table discussions. What followed was a series of illuminating speeches, debates, and an exchange of ideas centered around women’s leadership in Canada and Kazakhstan.  

“Many of the interactions went on to result in interesting projects. But, more importantly, I witnessed a broader change in the wider public consciousness that continues the trend towards progressive and inclusive transformation.” 

Another exciting task she was involved in was building a project with the British Gas company. It was a complex and impactful learning experience as supporting large transnational corporations required a meticulous, all-around approach.  

Facilitating many official visits from Canadian ministers to Kazakhstan 

With Canadian-Kazhakstani relations having significantly expanded over the last decade in multiple sectors, such as IT, Fintech, consumer goods, life sciences, and many others, Gaukhar feels proud to have been a part of this growth. She has played an instrumental role in facilitating many official visits of Canadian ministers to Kazhakstan. Coordinating these visits was often a challenge as it entailed multitasking, attention to detail, strong analytical, organizational, and troubleshooting skills. 

These experiences encouraged her to tap deeper into potential and grow professionally.  

“A few years ago, I was selected for an assignment in the regional offices in Canada. I had an exclusive chance to get exposure to the work delivered by the regional offices in several provinces across Canada. It was an interesting project that has helped me to learn about and take part in the processes that are developed in Canada, before clients’ expansion to the export markets.” 

Follow your inspiration in International Trade 

In her fifteen years of experience in the profession, Gaukhar has learned to persevere in the face of difficulties and always to have faith in her abilities. Her valuable nugget of advice to those just starting their careers is to believe in their talents and face the challenges head-on with confidence and determination. 

International Business training that honed her inter-cultural skills 

Also, coming from a country that is home to diverse cultures, Gaukhar has had vast experience in dealing with people from varied backgrounds. However, taking the FITTskills courses helped her broaden her knowledge on the different cultures and equipped her with the practical skills to hone her interpersonal abilities.  

“I now feel empowered in facilitating more CSR projects and bringing my stakeholders to a new level of success.” 

Understanding international trade finance from a new perspective

Although she found each of the FITTskills courses informative and illuminating, her favourite is the “International Trade Finance” course, as international banking has always been a topic of particular interest for her. The course helped her develop a better understanding of the work that she had been facilitating for many years in partnership with her colleagues from Export Development Canada. 

“This course has helped me understand the processes from the perspective of a bank officer. My interactions and meetings with EDC colleagues in Ottawa, close in-person work with my colleagues from EDC in Moscow, and this course have helped me to understand the perspective of an international banker.” 

Learn how to properly manage your cash flow and mitigate financial risk by selecting appropriate transaction methods and tools for international trade activities. It’s all in the FITTskills online International Trade Finance course.

Becoming a part of a community with shared professional interests, values, and passions 

Gaukhar decided to formalize her knowledge and expertise in international trade by applying for the Certified International Trade Professional (CITP) designation, a globally recognized competency benchmark for business professionals. It would allow her to both learn from a vast network of seasoned international trade professionals and share her own expertise culminated from her decade and a half-long tenure in the profession. 

When Gaukhar’s application was approved in October 2022, she felt truly honoured to join this elite group. Not only would she stay up-to-date with the latest business skills and industry-leading knowledge, but it would grant her greater professional credibility on a new global level. 

“It felt like an important milestone opening the door to take part in connecting with like-minded counterparts, who just like me are deeply passionate in international trade, developing and sharing the best approaches and practices of our profession.” 

Spurred on by her achievement of earning the prestigious designation, Gaukhar is excited at the prospect of new business opportunities coming her way. The credential also inspires her to take on a new level of responsibility and understanding while approaching her clients. It is motivating her to work harder on all her projects. 

We’re excited to see Gaukhar forge ahead with confidence and determination, scaling new heights of success as she achieves all the goals she has set for herself—and more! 

The post CITP Spotlight: Gaukhar Kydrykhanova, Trade Commissioner, Embassy of Canada in Kazakhstan  appeared first on Trade Ready.

International business could not be possible without translators and interpreters. In all its forms and sizes, good business runs on effective communication. Translators and interpreters are the key to bridging cultural and linguistic gaps, as well as making international business and trade possible since ancient times.

Professional translation services and interpretation services can ultimately help you uncover hidden potentials in foreign markets. By working with them, you can also inundate yourself with the knowledge they can offer you as a means of self-improvement as a businessperson.

What makes a professional business translator and interpreter

Having bilingual or multilingual abilities alone won’t automatically make you a language professional. You need to possess advanced language skills obtained by years of extensive study and even cultural immersion in the country of your chosen language.

Both translators and interpreters need to decide early on during their studies what language pair specialization they want to pursue, such as English to Spanish, English to Chinese, etc. Clients should often look for language professionals with a specialization, as a language professional with one or two language pairs is bound to be more dependable than a ‘jack-of-all-trades but master at none’.

While being either a language professional is hard enough, more can be said for professional business translators and interpreters. Aside from advanced language skills, they need to have the right background knowledge in financial and legal terminology since business documents and proceedings are often peppered with it. They can also choose to specialize in certain industries, such as banking, automotive, gaming, retail, tech, gaming, etc.

Now what obviously marks the difference between a translator and interpreter is their work environment and skillset application. They’re often labelled interchangeably but there are very different from each other. Translators mainly work on documents while interpreters perform live language translation.

Additionally, translators have on-site resources to aid their translation work. Interpreters can only rely on their knowledge and experience as their resource. With this in mind, not all translators can become interpreters. They need to develop cross-cultural communication skills and have the ability to handle immense pressure and remain cool in situations where even a single mistranslation can prove disastrous.

Where to get the right professional translation and interpretation services?

Some major international businesses regularly rely on their in-house business translators and interpreters. But that’s not an asset that many small to medium enterprises can employ full-time on standby.

Instead, freelancers are often used, who handle specialized and project-based translation and interpretation jobs when businesses lack in-house options. Even big-name brands rely on freelance language professionals from time to time.

When it comes to hiring a freelance translator or interpreter, your best route to contact them is from a professional translation agency. Despite their name, they provide both professional translation services and professional interpretation services. You can tap language professionals from major freelancing sites such as Upwork and Fiverr, but the trick is ensuring consistent and reliable outputs from your freelancer.

Professional translation agencies already have a pool of translators and interpreters working anywhere around the world. When it comes to projects with urgent deadlines, a professional translation agency can get a team for you to get the job done. Another advantage is that if one of them calls in sick or has an emergency, the agency can immediately tap into the next person to continue the job.

The international business arena is dynamic, and a lot of unforeseen things can pop up at the last minute. With that in mind, it would be better to rely on an agency that has global networks and a sufficient pool of highly qualified language professionals. Since business communication is very sensitive work, never rely on a free online language translator such as Google Translate. Even a single typo or mistranslation can jeopardize your documents.

How professional translators and interpreters are crucial in international business

International business lives and breathes on seamless communication. As said in the beginning, this is as relevant in the past for thousands of years as it is today. Here’s a list of a few critical areas where you’ll be needing professional translators and interpreters.

1. Local legislature and financial documents

Whether as a private individual or as a public official, you need to know the lay of the land first. Translating legal documents and financial documents requires different expertise, and you’ll often need at least two translators. As for interpreters, perhaps you’ll need two as well, depending on the situation at hand.

2. Multilingual contracts

This is an unavoidable part in international business. The majority of your multilingual business contracts will be handled by your professional translator. But during on-site meetings, you can’t depend on your translator to settle any clarifications. For that, your professional interpreter’s background knowledge in financial and legal terminology in both language pairs will prove indispensable to you.

3. Securing foreign investments and funding

When startups and businesses look to secure more financing options, they usually go abroad. Whether from foreign banks or foreign private investors, your translator will get all your documents. Your interpreter will then take care of on-site matters.

4. Negotiating with foreign partners and suppliers

Depending on your business, you might have to get in touch with foreign partners and suppliers. Your translator will take care of technical and financial documents, while your interpreter will handle on-site negotiations and even informal communication.

5. Connecting with foreign partners

Negotiating and connecting are two very different things. While negotiations are a formal aspect of any business, connections are more concerned with the informal and personal side of business.

Many international business cultures greatly value how you conduct yourself in their environment in terms of foreign business customs and etiquette. Naturally, your interpreter will have all of these taken care of. But it also pays off to know even the basics of their customs and etiquette.

Top business languages other than English

1. Chinese (Mandarin)

Mandarin is the most spoken language in the world with over 900 million speakers. It’s also a highly lucrative business language. A huge number of Chinese businesses are looking for opportunities abroad and you can capitalize on that trend. Global businesses are also reaching out to the vast market opportunities that mainland China commands.

2. Japanese

Japanese industries are major players in the global economy in all industries. Thus, having dealings with a Japanese business could be one of your options as their sophisticated homegrown industries are hard to ignore. You will need to have a professional Japanese translator on hand to specifically handle a different version of Japanese called keigo. This is a formal Japanese speech used in business, the government, and even in retail that even native Japanese people have trouble with.

3. Korean

Another major Asian economic player is South Korea. Just like Japan, Korean industries are also a major player in the world market. Korean brands are key players, particularly in the automotive, technology, and electronics industry. As with Japan, you must ensure that your professional Korean interpreter is adept with business Korean.

4. German

German is often characterized as a quintessentially business-oriented language. You can perhaps see the connection since Germany has the highest GDP in Europe. Depending on your business goals, reaching out to German businesses might be your first step if you want to establish your business contacts in mainland Europe.

5. Spanish

Compared to other European languages, Spanish is one of the most spoken languages in the world. It is spoken in the European continent and much of the Americas, both north and south. Keep in mind that each Spanish country is linguistically, culturally, and socially unique from each other.

The Hispanosphere is vast, and each country is bound to have its own way of doing things. So, when hiring a professional Spanish translator and interpreter, make sure that their Spanish proficiency and knowledge match with your target country.

These countries and their languages were chosen because of their economic development and strength of their industries. You can also take your chances in emerging economies such as the ASEAN region, select African countries, and select Latin American countries as well.

What you can learn from language professionals

The key to growing as a business is to keep learning as you go along in your career. Whether as a CEO or a business representative, having an open mind is what will set you apart from your competition. You can learn a great deal from the translators and interpreters with whom you associate.

Sure, they’re only with you when you need them under specific times. But that doesn’t mean you ought not to learn anything from them. Learning languages is more than just aiming for linguistic proficiency. It’s also learning about cultures and their way of life.

You become more culturally aware of the diverse ways of doing things around the world. You can use this perspective to inevitably help you as time goes along. The globalized economy we live in today is becoming more competitive with each passing day. All in all, an international perspective is what will ultimately unlock more market opportunities for you.

The post Access new market opportunities by hiring translators and interpreters appeared first on Trade Ready.

Once considered the “Sick man of Asia” in the later stages of the 20^th century, the Philippines has undergone a rapid economic transformation in recent years. With high growth rates, an expanding middle-class, and ambitious public policy initiatives geared toward national economic development, it appears this dynamic, newly-industrialized market is finally on a path toward sustainable growth and stability as it emerges into one of the Asia-Pacific’s most attractive trade and investment destinations.

The economic climate

Currently the world’s 34^th largest economy, the Philippines is among the world’s fastest growing markets. GDP growth rates averaged 6.3 percent between 2010 and 2018, and are projected to grow faster than other neighbouring South-East Asian countries over the next 15 years. In fact, an HSBC forecast predicts the country could enter the world’s top 20 economies in the next quarter century if demographic trends and sound governance remain in place. Consequently, the high growth environment has also been largely responsible for greater investor confidence. Foreign direct investment inflows hit a record-high USD $9.5 billion in 2017, exceeding the Central Bank’s target of USD $8 billion.

In addition to an upward economic transformation, the Philippines offers a number of competitive advantages for prospective business ventures in Asia, including:

• A large, growing population of 106 million people
• An emerging middle-class consumer market
• A highly-skilled, low-cost, English-speaking labour force
• A strategic proximity to neighbouring markets.

The importance of service sectors

While the Philippines remains a large agricultural economy, service sectors have been a major factor in domestic growth and rising income levels. More than half of the country’s labour force is now employed in the service industry – accounting for nearly 60 percent of the overall GDP.  Three industries are particularly noteworthy:

• Business process outsourcing (BPO) has flourished throughout the country’s urban centres and is poised to directly employ up to 1.5 million Filipinos by 2020 with a total income revenue of over USD $50 billion.
• Overseas Filipino Workers (OFWs) continue to be a major contributor to economic well-being. Official figures show 2.3 million Filipinos employed abroad – almost all of whom repatriate income earned overseas to loved ones back home. Inward remittances from OFWs hit a record high USD $32 billion in 2018, giving a boost to domestic consumer spending.
• Tourism accounted for a 12.7 percent share of the overall GDP in 2018. Increasing domestic travel and a record-high 110 million visitors from abroad has helped create a USD $40 billion industry, employing 5.4 million Filipinos.

The environment for Canadian exporters

As Canada’s 28^th largest trade partner, the Philippines presents significant growth opportunities throughout a broad range of sectors. Trends have shown encouraging signs for Canadian exporters with total merchandise exports increasing from USD $511 million in 2014 to USD $753 million in 2018  – most notably in the following products:

• Aircraft and Parts ($129 million USD)
• Lumber and Wood ($122 million USD)
• Frozen Meat ($102 million USD)
• Copper Ores ($70 million USD)
• Wheat ($56 million USD)

Canadian companies of all sizes that specialize in renewable/clean energies, infrastructure, and ICT sectors may also take advantage of upward trends and policy initiatives – particularly outside of the National Capital Region of Manila, as economic activity becomes increasingly redistributed through the country.

Exploratory talks toward a Canada-Philippines free trade agreement have since evolved to rein the remaining six non-CPTPP ASEAN member states into a multilateral Canada-ASEAN FTA. Per Canada’s current trade diversification policy, this option appears to be the inevitable path. In the meantime, Canadian firms doing business in the Philippines can take advantage of an existing reciprocal tax treaty and a foreign investment protection agreement (FIPA).

The Canada-Philippines relationship

Despite the 2019 diplomatic dispute over the repatriation of waste-filled containers from Manila to Canada, the two countries enjoy a strong and resilient bilateral relationship. The Philippines became Canada’s largest source of immigration throughout the latter half of the last decade, with Tagalog becoming Canada’s fastest growing language. As of 2019, 900,000 residents of Canada – comprising 2.6 percent of the population, are of Filipino descent. Conversely, a record-high 250,000 Canadian tourists are projected to visit the Philippines by the end of 2019.

Filipinos view Canada and Canadians very positively. Businesspeople can expect nothing less than VIP treatment, friendly smiles, and genuine hospitality, for which Filipinos are world-renowned. As with many non-Western business cultures, establishing trust and personal relationships is important. Visitors will likely encounter questions about their relationship status, good-natured comments about personal appearance, or if you are friends with their cousin living in Edmonton!

Overcoming challenges and the way forward

Although the Philippines is emerging as a rising star in the global economy, the country continues to rank low on ease of doing business. As such, companies will inevitably have to surmount considerable challenges to achieve success, including:

• Poor quality and lack of infrastructure
• Corruption among public officials at all administrative levels
• A complex, inefficient bureaucracy

Recent reforms and initiatives launched by the current administration under President Rodrigo Duterte have made inroads into reducing burdensome red-tape and eradicating institutional corruption, particularly within the Bureau of Customs and Bureau of Internal Revenue. However, significant work remains.

The Duterte administration has also committed USD $153 billion toward an ambitious national infrastructure plan that would increase investment from 6 percent of GDP in 2018 to 7.4 percent by 2022. More than 70 priority projects have been earmarked, including airports, railways, public transit networks, bridges, highways, and energy-producing facilities.

Of note, foreign companies and individuals are constitutionally prohibited from purchasing land anywhere in the Philippines. They may, however, seek a 50-year land-lease agreement that can be renewed for an additional 25 years.

Getting support for entering the Philippines market

As with any prospective venture into a new market, companies and investors must conduct intensive research, perform due diligence with any potential partners, and be acutely aware of local laws and regulations that may pose barriers to doing business.

The Canadian Trade Commissioner Service is an invaluable resource to assist companies with finding opportunities throughout many sectors. The TCS provides matchmaking services through an extensive list of reliable agents, distributors, local partners, etc., while their practical market knowledge is second to none. Trade Commissioners based in both Ottawa and at the Embassy in Manila should be every Canadian company’s first point of contact.

Exporters can mitigate several risks by obtaining the service of Export Development Canada, bearing in mind the distance and geographic trajectory when shipping products from Canada to the Philippines, and the risk of non-payment if using open terms. EDC provides exporters with a suite of insurance products that should be strongly considered to safeguard against the risks involved.

Membership in business organizations are also highly beneficial for networking opportunities, acquiring market knowledge, and participating in trade shows. Companies and individuals across all sectors can join organizations such as the Canada-Philippines Business Council and the Canadian Chamber of Commerce in Manila to seek advantageous insider knowledge and to make valuable connections.

High risk, high reward

Sadly, the Philippines continues to be characterized by negatives – a country plagued by rampant corruption, extreme poverty, and severe overpopulation. Add in extrajudicial killings, skirmishes with the Chinese naval patrol in the South China Sea, and kidnappings by insurgents to the news cycle, and suddenly a proposed business venture may appear too risky.

Between the lines, however, is a dynamic, forward-moving, emerging market with an abundance of opportunity that awaits. The Philippines is currently experiencing an unprecedented transition and is on its way to becoming an influential and powerful Asian economy in the 21^st century. Canadian companies ought to act on this opportunity, bearing in mind that even without an existing free trade agreement, a coherent business strategy in a complex and unfamiliar market is the golden ticket toward success.

The post Learn why Canadian exporters should capitalize on increasing opportunities in the Philippines appeared first on Trade Ready.

Although every company might like to do business without encountering disputes with their counterparty, it is not always possible to avoid situations where the importer and exporter disagree. Global business disputes can be time consuming and costly, but they are also a reality of doing business. While most trading partners enter in a contractual agreement with the best of intentions, disputes do happen and can have serious consequences. Disputes can result in the importer delaying or defaulting on the payment or the exporter violating the contractual terms of delivery.

Two main types of disputes can occur between parties engaged in international trade finance. Financial disputes arise when counterparties disagree on the amount outstanding amongst themselves. Contractual disputes arise when the counterparties disobey signed contractual agreements.

4 Common Causes of International Trade Finance Disputes

1. Payment Terms

Offering payment terms as part of contract negotiations enables a company to be competitive. In many situations, the benefit of winning a contract by offering payment terms comes with the risk of being unable to collect the receivables from importers.

When offering payment terms, an exporter requests minimal advance payment, leaving a portion of the contractual amount to be collected at a future date after the delivery on the contract has been completed. Importers can obtain payment terms that are long enough for them to receive the goods and inspect them.

In some situations, an importer can argue that the quality of the products or services provided do not meet the standards promised in the contract.

Disputes in contracts are not only caused by the quality of the goods and/or services provided, but also could be due to:

• Delays on contract completion.
• Modifications to specifications without consent of all parties.
• Failure to comply with verbal agreements that were not signed for on the contract.
• Non-shipment or blockage at port due to change in laws or government.

2. Letter of Guarantee

While negotiating the contract, counterparties may require the issuance of letters of guarantees and letters of credit as a method to secure themselves against non-compliance on contractual terms.

Disputes can arise in situations where the seller is performing as per the contractual terms, however the buyer drew on the letter of guarantee to obtain additional funds for liquidity purposes. This is known as a wrongful call.

Want to learn more about how to keep your buyers and customers happy in a conflict-free manner? Check out the FITTskills International Trade Finance online course.

3. Foreign Exchange Rates

In the international market, counterparties sign contracts in currencies other than their home currency. In these situations, the buyer and/or the seller face foreign exchange (FX) risks. The foreign market is unpredictable and swings in the FX rate are not uncommon.

Every percent move of the FX rate can result in an increase/decrease of the profit margin on the contract. Disputes arise in situations where the currency of the buyer depreciates in value, resulting in the buyer to pay significantly more in converted currency than anticipated on the contract.

4. Documentation Error

Documents in trade such as the letter of credit, letter of guarantee, forward contracts, futures, and others, can be subject to errors. A letter of credit, for example, is issued by the bank of the importer and is used as a payment instrument. It has multiple conditions that must be fulfilled by the exporter and verified by the bank prior to releasing the payment to the exporter.

An error on a letter of credit can have a direct impact on the bank releasing the payment. Such discrepancies must be rectified so that the exporter receives payment when it completes the performance on the contract. Resolving such discrepancies involves issuance of amendments to the letters of credit.

Drafting Contracts to Avoid Disputes

Commercial disputes can be lengthy and costly. It is impossible to foresee all the issues that could turn into a dispute but taking proactive measures to prepare should not be overlooked in the stages of negotiations.

It is important to determine how potential conflicts will be resolved. Having a clear and definitive dispute resolution plan can reduce the time and cost involved in international litigation. It can also reinforce confidence in the success of the transaction because it reduces uncertainties that make investors nervous.

Most often, disputes will arise from misunderstandings of contract terms. The key to minimizing complications is to draft an arbitration agreement at the onset of negotiations, before a conflict arises.

Dispute Resolution

While litigation has been the traditional way of dealing with disputes, there are strong reasons to consider alternative dispute resolution (ADR), such as reduced costs and decreasing the time to reach a resolution. As a best practice, parties frequently enter arbitration agreements to predetermine the details of how to resolve potential future disputes. Much attention is being turned to solving international trade disputes using ADR methods.

Alternative Dispute Resolution Methods

Alternative dispute resolution offers a means of settling disputes without resorting to commercial litigation, aiming to resolve disputes in a way that is less expensive, faster and more predictable than adversarial litigation processes.

Arbitration

In arbitration, a neutral third party known as an arbitrator works toward a resolution of the dispute. As with a contract, the result of arbitration binds both parties and is enforceable by a court. The benefit of arbitration is that it can be faster and cheaper than litigation. It is also likely to be more participatory and easily understood than a court hearing.

Arbitration becomes international when the parties in conflict have their place of business in more than one country, when most commercial obligations are conducted in another country or if the arbitration itself takes place in another country.

Conciliation

A conciliator helps conflicting parties avoid litigation by meeting with the parties separately to determine each party’s dispute and needs. Conciliation is often seen as the middle ground between arbitration and mediation. The conciliator’s goal is most often to restore goodwill or repair a working relationship, usually through concessions.

Unlike arbitration, conciliation findings are not binding, no awards are offered and the conciliator has no authority to call witnesses or request evidence.

Mediation

A mediator, with no vested interest in the outcome of the mediation, facilitates discussions and settlement between the parties. Unlike conciliation, in which the conciliator offers solutions, a mediator is more of a facilitator. The mediator avoids offering proactive decisions, choosing instead to help disputing parties come to a realistically acceptable agreement.

As with arbitration clauses or agreements, to proactively prepare for the risk of disputes, entrepreneurs can draft mediation clauses into contracts. Unlike arbitration or court litigation, mediation is non-binding—there is no winner or loser, and the parties are not bound by any decisions made by the mediator.

Benefits of Alternative Dispute Resolution

Besides the cost and time advantages of ADR, there are additional benefits. It offers a less formal and simplified forum in which conflicting parties can negotiate, and it presents the possibility of a more flexible or creative decision.

Selecting the right ADR institution

If an organization is seeking an ADR institution to specify in a contract, they must pay attention to the procedures and techniques they offer. Many international law experts will offer services in these areas. Some can offer procedures and techniques such as negotiation, mediation, conciliation and arbitration, whereas some may only offer services for arbitration.

In addition, some ADR organizations specialize their services for specific industry sectors. Use care when choosing the right kind of organization to represent the services an organization needs. Deciding those who will have experience and expertise in its area of business requires the same care.

Dispute resolution is an issue that parties may not like to think about when beginning a business endeavour however, disputes can and do still arise. Negotiations are the most effective means to mitigate the risks of international disputes. In the event of a dispute, solid contracts that clearly outline the rights and obligations of trading parties will save a company time and money.

Contracts including choices for dispute resolution methods can salvage the business relationships which parties have worked so hard to cultivate. When disputes arise from international trade transactions, ADR methods such as arbitration, conciliation and mediation are an option.

ADR is frequently a much cheaper way to resolve disputes than litigation. Its methods are also faster, involve more intense resolution of the disputes and can often be resolved by more creative settlements that those offered by litigation.

The post 4 Causes of global business disputes and how to avoid them appeared first on Trade Ready.

The independent consultant knows that the first image a potential buyer experiences is vital to the credibility of the pitch that follows. Research shows that trustworthiness is established in the first 8 seconds of a meeting.

In that short time, the potential client makes a subconscious decision: they will either listen politely and then dismiss the proposal, or trust what they have seen in those first seconds. What they feel and hear in those few seconds will be the basis of a future relationship with the consultant.

So how can consultants make sure they create an excellent first impression to potential clients?

Work backwards to understand how to first attract a client’s attention

We all know that a product is used, impersonal and tangible, but a service is experienced, personal and intangible.

So what does it take to sell and get acceptance for an intangible concept in a foreign market?

Ultimately, you need to create an image in a foreign contact’s mind that will appeal to them and lead to being hired to provide that intangible service.

Explaining the first step to selling an intangible idea internationally comes down to how that relationship is built. In the world of relationship-based sales, there is an adage that says one must seduce first and sell afterwards.

You can’t sell until you persuade, you can’t persuade someone until you have their interest, and you can’t have someone’s interest until you’ve attracted their attention.

With so much riding on catching attention early on, the initial visual image is vital to the success of the steps that follow.

When the eye buys an image of credibility, the mind and heart follow

Clients will usually only pay for a consultant’s expertise if others have reported positive experiences with that service. Independent consultants who seek new clients therefore need to first create an image of confidence, competence and success. The next step is then to transmit that perception of their services, promising to fulfill the future client’s needs.

When making a sales pitch, large companies usually calm a potential client’s concerns simply with their size and their brand recognition. A well-established presence in a market creates the professional image that helps large companies obtain new business in their chosen field.

In contrast, the individual consultant who does not have a large corporate identity faces daunting challenges when trying to develop new business. They have to work much harder to create the image that future clients will consider.

What’s important to remember, however, is that before reaching any professional level of notoriety, every large company inevitably grew from one individual who then created a small company, just like an individual running their own consulting company. If successful, this grew into a mid-sized firm and eventually even became a multinational giant. Good examples are Henry Ford and Steve Jobs, whose companies were once simply an idea in their minds. So what can you learn from their examples?

Even large service providers who may serve as your competition all started with the same basic approach.

To compete with other consultants or businesses of any size, you just need to develop a strong, positive image, preferably one that’s original or stands out in some creative manner, and then deliver on the promise of that idea.

Whether it’s expertise, innovation, originality or something else, find your strength, emphasize why it makes you stand out in that market, and go from there.

What qualities will help you adapt your first impression for success in international markets?

The consultant selling their services at home is likely to know the general requirements of potential clients and how best to shape their image for new clients. As a result, they are usually able to adjust to territorial, economic and cultural challenges.

The challenge of selling consulting services overseas is more difficult because the consultant is working in a market whose standards will be different than those of their domestic clients. Whatever they do at home to develop business may not apply to the international market chosen, and you may need to adjust how you project your image accordingly.

Selling and promoting consulting services internationally thus requires a much broader set of transferable skills. These include:

• Understanding the target culture and adjusting to it seamlessly;
• Linguistic talents to learn some basic phrases, if not fluency;
• Adjusting to other cultures’ views on time and punctuality;
• A thick skin to NOT take things personally;
• Tenacity to overcome unexpected hurdles;
• Changing and adjusting one’s presentation to fit into the new market’s parameters;
• The ability to move forward in the face of rejection;
• Flexibility and imagination to overcome preconceived cultural or national ideas or misconceptions;
• Recognition of one’s “foreignness” in the target market and the ability to turn it into an asset;

Canadians can also capitalize on their national brand

There is no doubt that Canadian consultants are as able as others to provide competitive professional services internationally. However, current world events are affecting potential relationships and it is often difficult to establish credibility, trust and professionalism, particularly when one is new to a market.

Fortunately, during those vital first seconds of a pitch, Canadian consultants can rely on Canada’s excellent global reputation to get the initial attention required. While the Canadian brand will not guarantee success, it adds undeniable credibility to a consultant’s promise to deliver a professional service to a prospective client.

The Canadian consultant can then focus on matching that positive initial image with a convincing presentation that will develop the interest needed to successfully move the discussion forward.

For consultants from other countries around the world, find your strength, emphasize it in a unique way that captures attention, and then use that attention to explain how you can deliver on your promises. Once you master these steps, you’ll make a great impression that will get the conversation started and lead to more clients.

The post How can consultants make a strong first impression to win over new international clients? appeared first on Trade Ready.

• Mutual respect
• An understanding of the mutual benefits of the relationship
• Trust in each other
• Fairness and honesty

What are the main responsibilities of suppliers and buyers within their relationships?

SRM requires buyers to get involved with their suppliers, to understand how their suppliers work and to make suggestions for ways suppliers could improve their processes. The purpose is not to manage suppliers’ businesses, but to create value for both parties. Most models contain the following components:

• Regular visits or communication with suppliers
• Regular evaluations with a scorecard or report card of supplier performance; this reflects expectations and a supplier’s current status
• Regular structured meetings to share information and find ways to improve deficits
• Joint improvement activities

The buyer also needs to be a valued customer for the supplier. SRM is a
collaborative relationship. To be a valued customer, buyers must perform the following actions:

• Always pay on time
• Provide adequate lead times
• Personalize the relationship
• Share information

It is important that buyers recognize the strategic value of suppliers. The focus should not be on negatives, but on opportunities to develop ideas that will foster innovation and increase productivity, which will benefit both parties and provide buyers with a competitive advantage.

What supplier relationship management models offer the best results?

There are three groups of interaction types. First is the critical cluster group, which are the supplier relationships that buyers should nurture:

1. Integrate: This relationship thrives on a shared vision and willingness to act as one smoothly running extended enterprise. These relationships are multi-year, differentiated and comprehensive, adding considerable value to buyers’ organizations.

2. Influence: This relationship needs regular communications and good timing to identify opportunities for exclusivity and provide the supplier with opportunities to identify buyer actions and plans that could be mutually beneficial. These are dominant suppliers that offer the potential to innovate jointly to develop new products or services.

3. Invest: This relationship needs continued reassurance to develop trust and overcome takeover fears by investing time, money and resources to develop capabilities to meet the buyer’s needs. These suppliers offer great ideas and innovation, but need to consolidate their basic performance.

If you fall under these categories, you’re doing just fine but still have room for improvement

The ordinary group includes suppliers that are more numerous, with average performance, but have potential for future growth:

1. Harvest: This is a stable, mutually profitable relationship and will continue as long as it is provided everything it needs to continue performing at its current level. This relationship is relatively low cost and hassle free, but complacency could put the relationship at risk. There is a need to ensure the supplier believes it is a valued team member.

2. Sustain: This relationship requires the right balance between investment and returns. These organizations need incremental improvements to increase value and performance to world-class levels. These suppliers recognize the value of the relationship and are willing to compete and improve to gain more business.

3. Improve: This is a relationship where suppliers require clear communication about expectations, how they can be more effective and their future strategic potential. These suppliers could be replaced by other suppliers if investment is costlier than potential returns. However, the preference for the buyer is to provide opportunities for these suppliers to attain Harvest status.

What can I do to improve a struggling supplier relationship?

The problematic suppliers are learning opportunities to identify and fix what is wrong and improve relationships with suppliers if they are willing:

1. Mitigate: When a supplier has ongoing performance issues and is unable to improve, it will require implementation of the exit strategy. However, it is still important to maintain openness and clarity, as there may be opportunity in the future. Ensure there is a good transition plan in place and manage the transition and communications.

This supplier relationship is more difficult if the supplier is involved in multiple lines of business, products or outsourcing agreements. Use this opportunity to understand the supplier’s interdependencies and conduct an in-depth analysis.

2. Develop: This relationship offers the opportunity to develop first class suppliers. They are willing to collaborate and grow their business, working closely with the buyer to increase their performance capacity and abilities. These suppliers are motivated to embrace change.

Buyers should engage in open communications with employees in both organizations and consistent program oversight as suppliers aim for a shared goal.

3. Bailout: This relationship is based on the supplier and the buyer recognizing when an intervention is necessary. This is significant because issues with this supplier can jeopardize the buyer’s business. The buyer should provide specific guidance and expect the supplier to comply with all instructions. Closer monitoring is necessary. The buyer should also set up contingency plans and bring in third party experts as needed. Personnel should be dispatched to the supplier to assess and monitor the situation to resolve problems quickly.

Ideally, this should be a short-term relationship type, with the goal of improving the relationship. If both parties are keen to maintain the relationship, the situation can be used to strengthen ties by developing plans to assist the supplier in bringing about long-term solutions.

There are many other models for supplier relationship management, but regardless of the approach, it takes a commitment from buyers and suppliers to work together to develop a successful relationship.

This level of commitment, investment and relationship with suppliers can result in the following outcomes:

• Reduced costs
• Pricing volatility mitigation
• Supply chain consolidation
• Increased efficiency and communication
• Continual improvement

The post Take your supplier relationship management to the next level for better global performance appeared first on Trade Ready.

Even before Kamo Mailyan and his family moved from his native Armenia to Canada in 2012, he had already achieved an impressive list of accomplishments.

With an educational background in public administration and international development, he served as an election observer during Ukraine’s 2007 parliamentary elections for It’s Your Choice, an Armenian non-profit organization dedicated to vote-monitoring for democratic elections. He also worked on youth and women’s programs with the National Democratic Institute (NDI), and coordinated the business component of a USAID project to help begin rebuilding relations between Armenia and Turkey.

Kamo moved on to co-found a successful company importing medical products to Armenia and Georgia from Europe. He is particularly proud that the company serves as a good corporate citizen in both countries and regularly contributes to social projects.

“The most recent project was a donation to the zoo of Tbilisi (Georgia’s capital city) after a flooding that left animals roaming in streets of the city,” he added.

A new beginning: country, education, and career path

Moving to Canada came with its challenges, but also provided some unexpected opportunities that led Kamo to where he is today.

“After arriving in Canada with my family in 2012, I faced a challenge in transforming my career path and finding where I wanted to be. For this purpose, I joined the marketing program for internationally educated professionals offered by York University, which helped me to explore various business sectors and understand where I want to be. I was in the middle of my studies when luckily I got introduced to Ronald A. Chisholm Limited, one of Canada’s best managed trading companies. I started my career in international trade at Chisholm working on market research and access strategies, and shortly after I started selling frozen meat and fish products.”

Ronald A. Chisholm Ltd., a wholesale frozen meat, fish and dairy trading company, has operated since 1938, and he says working for such a long-established company has been greatly beneficial to his training and career development.

“I call this company knowledge ‘a corporate social asset’. This is something no university can give you, and it keeps the company and its team strong during the ups and downs in international trade and markets. Shortly after I joined Chisholm, I witnessed sanctions in international markets and change in the trade landscape.”

It is important for a company to not only survive such challenges, but to overcome them with dignity and leave customers happy.

“I am pleased and proud to be a part of it, and believe in this changing global market there are still a lot of things for me to learn, and I am open to it.”

To augment his on-the-job training, he decided to take FITTskills courses with the aim of building on his international trade skills and expertise. As a strong proponent of continuous professional development, he recommends that anyone else who is interested in international trade should do the same, no matter their current career status or level of knowledge.

“For someone to be a professional in their field, they should always return to studying and continue improving their knowledge. A good athlete does not stop training after they win a competition, and professionals in all fields should follow a similar approach. Chisholm is a great school for me, and the people I work with are the best to ask for advice. Working here has taught me skills and knowledge no university can give. Nevertheless, I always try to use every opportunity to improve my knowledge and skills, and FITT was definitely a good investment of time and resources. I would highly recommend their training.”

The key to global business is being social

During his time with Chisholm, Kamo has especially enjoyed the outreach aspect of his work, meeting new people and building the connections needed to craft new business deals.

I’ve come to understand that sales is social, and it is the most interesting part of this job. You become friends with people, and there is a social component behind every successful deal and long-term cooperation.

“My favorite part is the exhibitions and trade promotion events organized by Canadian diplomatic missions in other countries. This is where I meet more people, explore new markets, and learn more information.”

Sometimes, his Armenian heritage is an important way to build those relationships.

“During an exhibition in Paris, I was walking in a hall when I heard two people speaking Armenian – my native language. I stopped by, and invited them to our Chisholm stand for coffee. Now we are friends, and we cooperate on business deals.”

In other instances, living in Canada has been the key to relationship building with customers.

“One of my customers told me his children like maple syrup and asked him to bring them some from the exhibition we were attending. He had approached a Canadian pavilion, which had some, but was told it was for display only and not for sale. I talked to the woman from that Canadian company, offered some treats from our pavilion, and said that we wanted some maple syrup for my customer’s children. We had a very nice conversation, and ended up taking more maple syrup with us than we’d asked for, and all for no money. Afterwards, my customer thanked the woman by email and has continued to order small quantities for his children.”

Two reasons for celebration in the summer of 2016

As part of his continued career development, Kamo applied for and earned his elite CITP®|FIBP® designation in June 2016. While adding the designation to his resume was certainly part of his motivation, his main priority was being able to connect with others and stay on top of the latest information.

“I applied for the CITP®|FIBP® designation to be a part of the network. I also wanted to improve my knowledge and skills to be more competitive in my job and move faster towards my goals. From time to time, if needed, I can connect with professionals and peers with the designation who work in various sectors, both government and private. In addition, the news, updates and tips I receive from are helping me stay up to date and follow current trends in international trade.”

Meanwhile, the company he co-founded in Armenia and Georgia had performed so well that it was attracting attention in high places, leading to his proudest achievement to date.

“For its business achievements and social projects, the company was nominated for an award in August 2016 by the Georgian government.”

Then an international committee, the Union of National Business Rating (including Georgia, Kazakhstan, Belarus, Russia, Ukraine and Uzbekistan) granted me the Medal for Outstanding Achievement in International Markets.

My friends who co-founded that company and still run it received awards as well. I was unable to go to the awards ceremony in Kazakhstan, but the award was sent to my address in Armenia.”

“This is something that made me feel really proud. Like planting a sapling and watching it become a healthy tree, my friends and I have been able to watch our company grow since we first started it, and it’s exciting to know it will only continue to grow in the future.”

We look forward to seeing Kamo achieve even greater accomplishments in his already distinguished career.

The post Kamo Mailyan, CITP|FIBP – Trader, Eurasia Division appeared first on Trade Ready.

For many of us, networking can be a daunting exercise. Putting yourself out there and attempting to make connections with complete strangers in a business setting doesn’t come naturally to all of us. However, the effort you put into networking can pay off big time in leads, job offers, good advice and mentorship.

In fact, a survey taken by Connect Us Canada found that 70% of respondents had experienced an increase in job opportunities as a result of networking. So we know it’s worth doing. But how can you get the most out of networking events – growing your global business and social connections in the process? Here are 5 tips that can help you maximize every networking opportunity you get.

1. Get in touch with expats overseas

“An unusual source of contacts abroad is the Canadian ExPat Association, an international organisation that provides access to Canadian clubs and business organisations around the world.”

There are similar networks for expats from countries all over the world.

“Membership totals 2.8 million Canadians living abroad, each one knowledgeable about the market they are living in and with a network that others would never have access to otherwise.

Hearing an unexpected Canadian voice on the phone asking for assistance will undoubtedly encourage an expatriate to help, and most will be delighted to provide insights on their market to the new exporter.

The savings in time and effort to develop new leads and learn about a new market is incalculable. After retiring as a Trade Commissioner, I lived in Brussels for a year and once received a phone call from a Canadian exporter. He had taken the trouble to locate me and asked for information on the Benelux market. Two years later he introduced himself to me at a Toronto seminar to tell me that my contacts had resulted in several lucrative deals for his company in the Dutch market.”  – Ennio Vita-Finzi, CITP

2. Stay focused

“Whether you are representing yourself or your business at an event, remember that the show starts when you arrive at the airport and ends when you get off the plane and return home. So, stay focused and make sure you are taking every opportunity at your disposal, including in the lobby, elevator and restaurant. Business can be done everywhere.”

Be prepared for opportunities to be born in interesting places.  – Canberk Tokmak 

“Make every second count! To quote Yogi Berra, ‘It ain’t over ’til it’s over’. Opportunities are abound to make contacts and start establishing relationships. Sometimes, those contacts are not made in the exhibition hall; they’re made outside of show hours at a reception, in line for your favourite coffee, or, in my case, on the plane flying back to Toronto. You just never know who you may meet. Hence the importance of always being engaged.” – Lora Rigutto Vigliatore, CITP

3. Being present = valuable market insight and new champions

“Showing up and creating a base for relationships by participating in interesting conversations is a powerful way to promote your business in the minds of prospective buyers and partners in international markets.

The best champions can be other networking participants who can introduce and sell the benefits of each other’s businesses. Watching this in action is remarkable, as we often we have a difficult time sharing our own value propositions. An introduction by someone else creates a new story for us to tell with confidence.”

Listening to someone else describe us can be an excellent way to refine our message and attract potential business opportunities. – Marcela Mandeville, CITP 

4. Do your homework

As with most things in life, practice makes perfect. Alleviate your jitters, and polish your introductions by preparing an elevator speech prior to attending an event. Remember to present relevant details about yourself, project the value of what you do, and be clear about your career and business goals.

“One of the greatest challenges in business is making long-lasting solid connections. Take an interest in the person you are meeting with. If you know some of the people you might come into contact with before an event, try Googling your contact’s name and review their LinkedIn profiles to find out where they went to school, what boards they sit on, etc. And don’t forget to follow your contact (and the company) on Twitter. You never know how you may be connected.” – Lynda Arsenault, CITP

If the event is in a foreign country, or if you know you may be meeting with visitors from a foreign country, research their culture and history to prepare yourself to make a good impression.

“Customs and culture can make it tricky to navigate certain situations, so educate yourself and find out a bit about the country you want to do business in. – Leah Goold-Haws

You would be surprised by how excited your overseas connections become when they discover that you’ve done your homework and can actually recite a bit of information about their home country.

5. Don’t forget to follow-up

“Within 24 hours of meeting, follow-up with a personalized note that should include a short summary of the your conversation, including any action items you discussed, and next steps.” – Lynda Arsenault, CITP

If you are attending an event in a foreign country…

“As a sincere gesture of hospitality and good business etiquette, I also like to include an invitation to host them in my country anytime at their convenience.”

The post Top 5 networking tips straight from the experts appeared first on Trade Ready.

If you’re looking to grow your company’s revenue, expanding beyond domestic sales into the global marketplace is a great way to go. Statistics have shown that businesses that export to international markets make more money, are more productive and outlast their competition. In fact, according to Export Development Canada companies that export are 25% more innovative and generate 121% more profit than those who don’t.

But if you are just getting started, or your export sales are lagging, you may be wondering where to take your next steps to build that oh-so-profitable international market for your business. Here we’ve gathered five great tips from some of our best sources in international sales.

Go where your customers can find you

1. Go to trade shows

Trade shows can be a great way to market your company. All booths are usually in one location, they generally last one to three days and they attract thousands of exhibitors and prospective customers.

Trade shows are one of the most cost-effective ways of promoting your company’s products and services. According to The Center for Exhibition Industry Research (CEIR), the cost of contacting a prospect in the field is $308, which does not include the cost of identifying that prospect prior to the sales call! The cost per visitor contacted at a trade show is $212.

Companies should base their decision concerning if and how to participate in a trade show on a number of factors. It’s important to consider the purpose of the trade show, whether or not your target audience will be in attendance, information about other exhibitors, the layout of the show, and how trade shows may or may not fit with your larger marketing plan.

Examine those alongside the company objectives in the market to decide if participation in the trade show is the best way to reach those objectives. If the company merely wants to meet with someone who will be attending a fair, it may not be necessary to exhibit. If the fair attracts precisely the kinds of people buying the product or service, an exhibit can be extremely worthwhile. – excerpt from FITTskills International Marketing textbook

Sometimes, those contacts are not made in the exhibition hall; they’re made outside of show hours at a reception, in line for your favourite coffee, or, in my case, on the plane flying back to Toronto. You just never know who you may meet.

“Hence the importance of always being engaged…the long days on our feet that my colleagues and I had endured, all of the handshaking and follow ups to come were all worth it.” – Lora Rigutto Vigliatore, CITP|FIBP

2. Go on a trade mission

“How great is it to expose yourself to new market opportunities planned and organized by people like the amazing Canadian Trade Commissioner Service and the Global Affairs Business Women in International Trade (BWIT) program team?

You don’t need to worry about trying to book meetings and map how to travel across unknown cities and countries to attend events and meet with potential buyers.

Not only can you talk business and build relationships that position you to win business from connections on the trade mission, you also meet other suppliers and contacts.

Showing up and creating a base for relationships by participating in interesting conversations is a powerful way to promote your business in the minds of prospective buyers and partners in international markets. The best champions can be other trade mission participants who can introduce and sell the benefits of each other’s businesses.

Overall, I would say exploring new markets through trade missions, can present excellent and exciting opportunities in an organized, supportive environment.”  – Marcela Mandeville, CITP|FIBP

3. Go online

According to Statista  in 2015, e-commerce sales climbed to $US 1.55 trillion, with a growth projection in e-retail revenue of $3.4 trillion in 2019.

Despite the difficult trade climate, there is one avenue of international business that continues to see dramatic gains: e-commerce. And with international online sales rising, and more companies entering these markets, trade is bound to be bolstered by cross-border internet retail sales.

“Companies who wish to capitalize on that growth must learn to provide customers with an easy online shopping experience and excellent customer service, according to a joint report by the American Association of Exporters and Importers (AAEI) and Amber Road. To do that, companies must effectively manage the supply chain from the production and shipment of a quality good, to cross-border delivery through to the end customer.” – Jennifer Nesbitt

“For SMEs who are just beginning to explore international markets, Amazon provides the tools and support they will need to succeed. These tools, such as Fulfillment by Amazon (FBA), greatly simplify the operational and financial processes required for international selling.” – Maggie Zhaoxia Huang

Take the time to build genuine relationships

4. Try the “Canadian Way”

“Experience shows that every market must be served individually. While marketing methods may be successful in one market, it may not bring the hoped for results in another.”

“There are no quick fixes in international trade – maintaining a steady focused effort to be the best in what you do will always succeed in the end.” – Ennio Vita-Finzi, CITP|FIBP

The Canadian way still works:

1. adjust to your target market’s needs
2. rely on investing in personal relationships… and
3. avoid excessive bragging

5. Build strong relationships with prospective clients by wooing with your time

“Finding a new opportunity abroad, whether you’re selling or buying, is like having a new girlfriend.”

“There’s a period of courtship. You have to tell her who you are, why you’re interested in doing business with her, and convince her of why she should want what you have to offer.”

“You can write beautiful things, and you can send pictures or videos through email, but in the end, there’s no getting around it. You’ve got to take her out for dinner.”

I don’t think you can form a strong long-lasting relationship without the personal element. People need to see you face-to-face to have that real human connection and to establish a level of trust. – Alberto Quiroz, CITP|FIBP

The post Top 5 international sales tips straight from the experts appeared first on Trade Ready.

Regardless of whether or you support the Trump administration, it is obvious that Mr. Trump has re-written the global rules of marketing.

Marketing was traditionally based on careful research, forecasting of trends, evaluation of current economic growth and feedback from the market itself. But today’s successful marketing seems to be based on the concept of “perception equals reality”.

Non-stop self-promotion backed by constant imagery of the name TRUMP, a continuous media presence, bizarre hairstyle, and references to billion dollar real estate deals, all create a self-fulfilling prophecy that few want to disagree with.

Canadian business executives have typically been cautious when it comes to blowing their own horn, and this has been part of Canada’s success internationally – people like us because we are low-key. Close to 75% of our population lives within 100 miles of the U.S. border, and internationally we are seen as North Americans – but not Americans, a subtle difference that often works in our favour.

Numbers work in the States

The senior partner of an international business services firm told me the other day that his company was thinking of changing its U.S. advertising to include results – “numbers work!” He was thinking of informing visitors to his website that the firm had helped eight of their many clients to sign strategic alliances in 15 countries, resulting in agreements worth $145 million.

Another contact, a manufacturer of office furniture, has asked his Linkedin network for recommendations about his products, asking permission to include some of their comments in his U.S. advertising copy. Both of these canny executives are aware that it is impossible to know what will hook a potential American client, but one said: “In the current U.S. market, my best chance of being noticed and getting new business is to rely on a perception of success. I don’t want to be cynical, but in the States we have just seen proof on the adage that perception equals reality!”

The other way: relationships

That being said, it is worth noting that experienced exporters with clients in other countries are not changing their traditional promotional activities to boast of their prowess. Instead, they prefer to rely on long-lasting relationships with suppliers and clients abroad.

In most countries, the effort of establishing a personal bond with local contacts pays off in the long run.

A Canadian sportswear exporter to Latin America told me that, “… my Brazilian importer has become part of my extended family, and his son is now living with us in Canada. You can’t beat the kinds of relationships that can develop over time!”

Another Ontario-based franchise consultant made a concerted effort to learn Spanish, and now has a network of associates in Latin America and Southern Europe that he visits regularly. Without developing these contacts, his business would have remained a small domestic operation.

The Canadian way

Experience shows that every market must be served individually. While marketing methods may be successful in one market, it may not bring the hoped for results in another. There are no quick fixes in international trade – maintaining a steady focused effort to be the best in what you do will always succeed in the end.

The Canadian way still works:

1. adjust to your target market’s needs
2. rely on investing in personal relationships… and
3. avoid excessive bragging.

The post The success of U.S. marketing methods shouldn’t affect the Canadian way of selling appeared first on Trade Ready.