Top 7 Ways To Profit From Foreign Trade
International trade has helped the global economy grow and flourish. As a result, domestic economies rely on international trade to prosper. The benefits of participating in international trade are plentiful, but it’s not for everyone.
If you are interested in profiting from foreign trade, there are 7 ways to increase your chances of success:
1) Establish and maintain a physical presence outside your own country.
International trade requires that you have an established presence overseas to establish credibility, build meaningful relationships and develop solid networks.
2) Make certain your company has the tools, technology and expertise to be competitive in global markets.
To succeed you need to be good at what you do. Your company needs to possess the technology, marketing savvy, quality control standards and manufacturing capabilities that can compete in global markets.
3) Find ways to export your products or services with the least amount of trade barriers possible.
The more barriers or hurdles that exist before a product reaches its final destination are often the most competitive in foreign lands.
Do not neglect to consider the domestic market. When a product or service is exported to a country, the first hurdle it encounters is at home, where it usually must be transformed into a foreign-market specific product or service.
4) Expand and deepen your relationships with partners overseas.
If you are not able to find new partners that are willing to do business with you without compromising its standards, then you’ll need to expand those partnerships and deepen them.
5) Avoid the pitfalls of foreign trade by understanding your customer’s needs and interests.
Not all customers will be interested in or receptive of your products and services. Even if they are, their interests and needs can change over time.
6) Reinforce your brand by expanding your brand awareness and identity overseas.
Your brand is a perception of what you stand for. If you are not presenting yourself as the right company to do business with, then there is no reason why the public should trust you.
7) Maintain an open mind when it comes to foreign trade opportunities.
It’s easy to get caught up in the hype of all things international, but remember that just because a foreign market is profitable doesn’t mean it will be for you. The risks associated with foreign trade are specific to each country that you will want to expand into.
If you are interested in profiting from foreign trade, there are 7 ways to increase your chances of success.
Did you find this article helpful? If so, do share your views in comments.
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Category: Featured Articles, General, Strategy and Tips | Tags: 1. What if . . . 2. Secrets To Business Success 3. Top 7 Ways To Profit From Foreign Trade 4. Top 10 Ways To Successfully Run a Successful Business in Nigeria Today 5. Top 20 Luxury Items For Your Home 6. Top 20 Womens Fashion Trends For 2018 7. Top 7 Ways To Profit From Foreign Trade | Added by : Admin - Date : 14/03/2018 | Views : 3366 | Go to Page URL : http://www.forbesindonesia.com/en/article/top-7-ways-to-profit-from-foreign-trade/?ref=yfp Comments : 1: Nnancy, 11 Mar 2018; 09:05 AM.
i read your article and i would like to offer you some suggestions that i think can help your article.
1. You need to focus on the main idea of your sentence which is the main point of your article, i think you have not do this because the whole article had a lot of unnecessary and useless information that makes the reader confused, so you need to make sure you control or focus on each sentence in one or two ideas only
2. I think you need to use more details in each paragraph.
3. I think you should take a look at your article from reader point of view, what kind of information that reader need and want to know ?, so your article can be more interesting and easy to understand
For your convenience, i have attach some references for you:
https://www.ehow.com/how_2124569_write-article-attention-grabber.html
https://www.wikihow.com/Start-a-Conversation-with-Strangers Introduction:1. What if your boss asked you to write an article for the topic " what if?" What would be your answer? I suggest you keep it simple.2. Your business is a success, but you can't enjoy it because of the following reasons: loss of profit due to overstaffing, which is causing overtime without getting promoted, increase in cost due to rising salaries and pensions, increased investment in training in this country with little results, lack of product development and sales, etc.3. Your customers are complaining about delays in delivery of goods supplied by your company. How would you address their complaint?4. How would you measure the quality of your products?5. What is the most common cause of business failure?6. How will you know that your product is good in quality if you can't test or trial it?7. What could be the difference between an excellent product and a mediocre one?8. What are the main criteria for judging whether a product is good or bad, and which ones would apply to your product?9. The IT department has recommended that you invest in computer technology, but you fear it could lead to an increase in costs and lower profitability. What would be your answer?10. The government wants to introduce a law that regulates your business. What would you say?11. The economy is still on a down trend, prices keep going up and so does the cost of living. What would you do?12. With the advent of technology and information age, the methods of doing business are ever changing. Which method would you rather use in your business -- traditional or modern?13.
Conclusion:
All your answers need to be focused on one subject, and all of them should contain the main point of the article. Comment:1. Nnancy, 11 Mar 2018; 09:05 AM.i read your article and i would like to offer you some suggestions that i think can help your article.1. You need to focus on the main idea of your sentence which is the main point of your article, i think you have not do this because the whole article had a lot of unnecessary and useless information that makes the reader confused, so you need to make sure you control or focus on each sentence in one or two ideas only2. I think you need to use more details in each paragraph.3.