For a Vancouver-based business, the prospect of entering the Asian marketplace can be tantalizing. Even a conservative five-year global revenue plan can cause an unanticipated level of interest in luxury vehicles and yachting. There lies, however, a small gap between the goal of going global and its successful execution.
In Vancouver we do a lot of business face to face. But the practice of getting to know the individuals whom we are selling to, partnering with or buying from, is a mandatory process that becomes a significant challenge when our network is stretched over several thousand kilometres.
One of the most valuable resources to bridge this gap is the federal and provincial trade commissioner services. www.tradecommissioner.gc.ca/eng/how-tcs-can-help.jsp
Canadian trade commissioners are stationed in Vancouver and more than 150 cities worldwide. They offer help with export; establishing your company abroad; tackling market access issues; pursuing joint ventures or strategic alliances; finding technology and R&D partnerships.
From our experience, the most valuable resources provided by trade commissioners are:
•they provide introductions to companies in target marketplaces;
•they give insight into local culture and business etiquette;
•they join in meetings and provide valuable translation and relationship bridging; and
•they provide market research on a regional level as well as direct feedback from companies regarding their response to your value offering.
At Sirona Biochem, we have had the opportunity to work with a number of trade commissioners in each of the countries targeted for our business growth. Our experience has taught us the following key lessons, each being integral to improving our process in working with trade commissioners and giving us the best chance of success:
Understand that this process will take time and cost money. You will need to build relationships in your target countries and one trip will not be enough. Your local trade commissioner can advise you about any appropriate grants available to support your goals.)
As with any business relationship, momentum is a powerful driver. Prepare your business materials in advance of connecting with the trade commissioners. These materials should be translated into the language of the target marketplace and should include your business goals in the country (be as specific as possible); the types of businesses you would like to be introduced to and how you want to work with the target companies (be as specific as possible); and an English and translated presentation that can be emailed on your behalf to introduce your company to the target companies.
Build a relationship with the trade commissioners. Do not assume that your job is done once you send your materials to them. Schedule regular teleconference calls (or better yet, Skype) to ensure that you are getting feedback about the conversations the trade commissioners are having on your behalf.
In each conversation or email exchange with a targeted company, the trade commissioners will be both encountering objections and receiving positive responses to your business. You need to help them deal with the objections so that they can be dealt with effectively, and you will want to build messaging around the positive points.
Do not rely on the trade commissioners alone. We have received outstanding support from some, and less from others. They are a resource but not a free sales force. Think of them as partners in your business growth. And remember to always communicate your internal efforts with the trade commissioners. There is a risk of duplicating efforts in targeting companies.
Continue to be the master of your own destiny. Work through other channels to secure credible introductions to target companies. LinkedIn, business groups, university alumni, etc., are all very effective tools for international networking.
Listen to trade commissioners. Their success is measured by Canadian business growth in their local jurisdictions. They want you to be successful so they will be doing their best. They know their local business culture and will have very valuable information on how to conduct yourself in social and business situations. They can also provide excellent insight into negotiations and business processes.
The No. 1 lesson we have learned is that by taking the time to set up the relationships properly and arming the trade commissioners with the guidance and information that they need to be successful, every growing business can benefit from this fantastic resource supported by our government. •
