How to Enter Foreign Markets and Partner Selection

Description

The global pandemic has dramatically increased the focus on the importance of exporting. Companies have realized that to be resilient and competitive, they need to be engaged globally. This no cost series of five one-hour webinars will discuss the most important decisions small to medium sized businesses need to make for a successful export strategy. This series is sponsored by the Illinois SBDC International Trade Center at Bradley University and is co-sponsored by: Illinois Manufacturing Excellence Center, Greater Peoria Economic Development Council & FTZ #114, DCEO/OTI, and the US Department of Commerce. Who should attend: -Entrepreneurs – needing insights on when their venture is ready to go global -New-to-Exporting Companies – Utilize the steps provided to ensure your export plan is effective -Existing Exporters – Learn new techniques to support your current exporting efforts Take away: -Learn the biggest mistakes companies make when developing their export strategy -Gain insights on how to change from a reactive exporter to a proactive exporter -Don’t have an export plan? This series will guide you through the process of developing a great export plan you actually use! Once a company has selected a foreign market for export expansion, the next two decisions are which entry mode to use, which potential partners? This session details the entry mode options from indirect exporting, to direct exporting and foreign direct investment (FDI). The challenge is how to balance the risk versus the rewards of these options. We will discuss how even a small amount of FDI can be highly effective in gaining strong control over the market and enhanced customer feedback. We will also discuss how 3PLs and FTZs can be leveraged to support market entry. Speaker: Jim Foley is the director of the Turner Center for Entrepreneurship and the Illinois SBDC International Trade Center at Bradley University. He manages a program of counseling and training in international business, marketing, logistics and finance. He is also Director of International Programs for the Foster College of Business and Director of Business and Nonprofit Partnerships for the university. Mr. Foley is the author of the book The Global Entrepreneur 4th Edition discussing techniques to expand exports. He is also the co-author of the eleventh edition of International Marketing by Vern Tersptra. Jim has received numerous recognitions including the ASBDC State Star, the NASBITE International Trade Educator of the Year Award, the Illinois Governor’s Export Award, and the IATTO Lifetime Achievement Award. He most recently received the John Otis Lifetime Achievement Award, Nasbite International’s highest recognition. Jim serves as national co-chair of the ASBDC International Interest Section and a member of the Illinois District Export Council. Prior to joining the trade center, Mr. Foley worked in the computer industry living in Los Angeles and London. He has an MBA from the London Business School at the University of London, and B.A. from Knox College. Registration Links: https://Bradley.zoom.us/meeting/register/tJYpcu2grjsvGtDPQEhPCWEWWXtv8pMuaGyO https://www.bit.ly/GettingReadyS1