Attend the EXIM Webinar: How Small Businesses can go Global with Export and Import Business – Nkem Mpamah

For every ambitious entrepreneur, going global with your business is a strong desire. The problem is, achieving the goal can be daunting, even though the reward can be very satisfying if the steps are right.

The EXIM Webinar is therefore a good strategy to navigate the route. For example…

Benefits of going global

• Going global means you no longer depend only on your local market for the success of your business.

• It reduces the fear of fluctuations, seasonal changes and demands, government policies, and inflation that often plagues your local market.

• It broadens your knowledge of the people, market, technology, and culture of the new countries you operate in.

The primary goal for taking a business to foreign markets is growth and expansion. It does not matter whether the markets are in the USA, China, India, UK, Italy, and Nigeria; or they are in some less known and less competitive parts of the world, there is usually a demand for the right products and services.

Challenges of going global

But, globalization poses a lot of challenges and risks some of which are…

• Cost: The cost of going global can be quite high. In some cases, entrepreneurs may relocate temporarily (or permanently as the case may be) and that comes with a cost. The cost of living in as well as renting of the  shop.

• Immigration: It is not always as easy as it sounds to live and carry on business activities in another country without meeting the immigration requirements of the country. Apart from meeting the initial immigration requirements that grant entry in the country, the pressure associated with meeting the immigration renewal requirements can be high.

• Familiarize with the market: Going global requires a good knowledge of the people and an understanding of the market. From how the people respond to your products and services, to your own ability in understanding their language and culture are all important considerations. Your product could the best in your local market and still be turned down at a global level because of differences in culture and individual perceptions.

• Foreign partnership: Every business owner wants to partner with someone in another country. The downside is, a foreign partnership requires trust and ongoing transparency which takes a long time to build and develop. Not many entrepreneurs want to invest in such a long-term project.

While many small business owners with genuine intentions to go global seem to have given up, the demand for Export and Import (EXIM) businesses tends to rise across many industries and business sectors post-COVID-19 pandemic. Capturing such opportunities requires some levels of creative thinking and innovation. CLICK HERE to Attend the Webinar this Thursday November 25 at 1.30 pm WAT

But going global can be a lot easier than you think…

In my experience of coaching successful entrepreneurs to scale and create 10x businesses, I found that creating global visibility is a priority for many. While many go about it the wrong way, a great majority of others are leveraging proven systems to bridge the gap. And one way they accomplish that is by collaborating with others entrepreneurs and small business owners in other countries to build intentional relationships.

Although many small business owners understood the importance of collaboration; the trouble is, they do not have access to proven systems they can use to execute it. Obviously, building long-term relationships solely on the Internet can be risky. Instead, many entrepreneurs across the world now leverage the BNI System to build strategic alliances, nurture relationships, and grow their businesses. You can “attend the “Expanding Export & Import Opportunities Through Strategic Alliances” event and learn more.

CLICK HERE to Attend the Webinar this Thursday November 25 at 1.30 pm WAT

The BNI System offers BNI members the opportunity to network, build relationships, pass business referrals, create strategic alliances, and collaborate in different areas of business in more than 71 countries. Typical BNI Membership comprises manufacturers, exporters, importers, distributors, and professional services providers operating within more than 200 business categories. According to some members, aside from passing business referrals which is the primary goal, members also collaborate across the border to represent any business of special interest in other members’ countries.

BNI members operate a cult-like culture in all of their 71+ countries with more than 285,000 in more than 10,000 chapters. Each chapter meets weekly to pass referrals to members, learn new business networking lessons, support each other, and decide the future of their business. Attendance at BNI meetings is strictly on the invitation to visitors. In a way, BNI members trust themselves and hold one another accountable to perform their obligations.

CLICK HERE to Attend the Webinar this Thursday November 25 at 1.30 pm WAT

Getting started with BNI is easy; just find a local chapter near you and request to attend their meeting. However, if you are in Lagos Nigeria, you can contact a regional director to help you.

By Nkem Mpamah, CEO, Cognition Global Concepts, Executive Director, BNI Nigeria

About Nkem Mpamah

Nkem Mpamah is an experienced business coach, strategy, and leadership advisor with more than 10 years of practical experience. Nkem coaches entrepreneurs and business leaders to scale and create 10X businesses. He is the founder of Cognition Global Concepts, a BNI executive director, and creator of the Amplify™  Coaching Program.