A Guide To Doing Business Overseas
Trading with customers abroad can bring a whole new dynamic to your business. You may find it easier to attract customers, but business could also get a lot more complicated. Here are just a few tips to consider that could help to make trade overseas easier.
Get to know the cultural differences
First, you need to consider the cultural differences. If you’re a B2B company, you may need to be aware of certain formalities abroad within other countries’ workplaces. You may also have to rely on different marketing tactics. Most importantly, you need to be certain that there’s a demand for your product. While something like craft beer could be popular back home, it may not be so popular in a strict Muslim company that outlaws drinking.
Factor in the currency exchange
Accepting foreign customers also means accepting foreign currencies. When charging a customer, you need to be aware of the currency exchange. Currency rates can fluctuate so you need to keep checking them to ensure that you’re charging foreign customers the right amount. If you sell products through an online ecommerce site, you could find that prices are automatically converted.
Factor in the time difference
When conducting business with customers in other countries, you also need to be aware of the time difference. Planning a phone call with someone on the opposite side of the world could mean having to adjust your schedule – you may have to ring them late at night for it to be their morning. What you don’t want to do is ring in the middle of the day and end up waking up these clients when they’re in bed.
Find an international courier for deliveries
If you sell products that are usually delivered, you may have to upgrade your delivery service to an international service. Freight shipping companies can be useful when delivering lots of items abroad – it’s worth shopping around to find the best price on LTL freight shipping. Certain items like documents may be able to be sent electronically.
Consider hiring an interpreter
An interpreter could be necessary for translating conversations. While English is spoken all around the world, a lot of speakers are unlikely to be fluent. An interpreter could help to get your message across more clearly when communicating on the phone, conducting in-person meetings or simply communicating via email. You should shop around to find someone that is fluent enough.
Image by Bruno /Germany from Pixabay
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