Posted By P & L Blog

Did you know that foreign businesses employ over 31,000 people here in Nashville? Or that Japanese companies alone provide jobs to more than 12,000 Nashvillians? I knew international businesses located in Tennessee have a positive impact on our state's economy, but I was very surprised to learn that 35% of the new jobs created here in 2012 were the result of foreign direct investment.

You can learn more about the importance of international business here.


 
Posted By P & L Blog

Are you thinking of Iaunching your products in Mexico? Here are a few cultural tips to keep in mind to get your business off to a good start.

  • Learn a few words or phrases in Spanish before you meet with potential business partners. They may speak fluent English, but they will appreciate the effort and see it as a sign of respect.
  • Lunch is later than in the US - often sometime between 1 and 3 pm. Don't expect the conversation to be all about business - this is a leisurely meal that is more about getting to know everyone.
  • Don't hail a taxi on the street. Ask someone to call a cab for you from a reliable company.
  • Remember that Mexico City - or DF as Mexicans call it - is over 7,000 feet above sea level. You may feel light-headed or very sleepy when you arrive. Pace yourself the first few days until you are used to the altitude.
  • Punctuality is not important in social situations. Take a deep breath and relax.

 
Posted By P & L Blog

Is fear of foreign cultures stopping you from expanding your business internationally?  A survey recently conducted by UPS found that one-third of the small businesses that responded said language and cultural issues were the main barriers to going global.

Businessweek has some tips that will help you start developing business relationships overseas. The tips are from the president of UPS's international division and many are lessons he learned from his own mistakes. As he explains, "Ninety-six percent of the world's consumers live outside the U.S., so failing to export today may mean you'll have to play catch-up later."


 
Posted By P & L Blog

Google can be a great tool if you have customers overseas.  We've compiled a list of ways Google can help you - what would you add to the list?

Time - This is critical when dealing with suppliers or customers overseas or across the country. To see the time in many cities world wide, type in "time" and the name of the city.

How to search: "time Buenos Aires"

Currency Conversion - To use Google's built-in currency converter, simply enter the conversion you'd like done into the Google search box and they'll provide your answer directly on the results page.

How to search: "150 GBP in USD"

Unit Conversion - Countries use different metrics for measuring. Use Google to convert between many different units of measurement of height, weight, and volume among many others. Just enter your desired conversion into the search box and Google will do the math for you.

How to search: "10.5 cm in inches"

Weather - Planning a trip? To see the weather for many U.S. and worldwide cities, type "weather" followed by the city and state, U.S. zip code, or city and country.

How to search: "weather London, England"


 
Posted By P & L Blog
Are You Ready? Take the Global IQ Test To Find Out
 
Questions:
 
1). Can you embrace uncertainty and rise to the occasion?
 
2). Do you have an all-encompassing perspective?
 
3). Are you adaptable, do you take risks, and can you be innovative?
 
4). Are you prepared to cultivate your international contacts?
 
5). Are you willing to learn as much as possible about the culture in which you are about to do business?
 
6). Do you have passion, enthusiasm, playfulness, and curiosity?
 
7). Do you have the guts to go the distance? 

8). Do you have enormous reserves of energy along with patience and stick-to-itiveness?

9). Got courage?

Take a moment to consider your answers then compare them to what Globe Trade, the creator of this test, has to say.


 

 

 
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