Trade Finance As A Business Development Strategy

Without trade finance, there wouldn’t be Indian spices, clothes, or jewelry in the United States. Or Apple’s iPhones in China, much less any other international product at any respectable distance from its origin.

In fact, according to Investopedia, the World Trade Organization (WTO) estimates that international world trade has expanded 80%-90% thanks to trade finance.

For this to continue, companies need to include trade finance in their business development strategies.

How do you do that? Learn how you can incorporate trade finance into your business development strategy.

Incorporate Inland Trade Finance in Market Penetration and Market Development

Market penetration and market development are key parts of a business development strategy. Market development involves selling more of your service or product to repeat customers.

While market penetration is about expanding your product or service to other cities and provinces, it can involve inland trade finance. As you may have to renegotiate local and provincial trade deals.

For instance, let’s say you sell jewelry. A business from a neighboring city may purchase your jewelry and sell it to its customers.

You have a long history with this client. And know that your product is selling quickly in your customers’ shop. In which case, you could propose selling the client more jewelry for a bulk price.

After negotiating, the client agrees. However, despite the long, positive history you’ve had with the client, the client may not feel comfortable paying you before you export the jewelry.

This is where a trade financier or banking institution comes in, providing a letter of credit promising that you will export the jewelry upon payment.

Consider the Internet and Brick-and-Mortar Stores

If you’re already selling more of your product or service to clients, perhaps it’s time to branch out to another channel such as the Internet?

If you run a successful e-commerce store, maybe it’s time to start a brick-and-mortar store as well?

That way, your customers have more options where to buy your products.

Especially when it comes to brick-and-mortar stores, trade finance can help you secure new import and export trade deals-especially when there are multiple currencies involved.

Creating a New Product or Service for Repeat and New Customers

With repeat customers, you’re doubling the number of products the repeat client is importing.

And, with new clients, your new product or service will expand your client base. It’s important that you first create new products for your repeat customers before jumping to new customers, as it involves more risk.

Again, trade finance can help cultivate more trust during this period of growth. Since trade financiers or banking institutions can create letters of credit, laying out the terms the importer and exporters must follow.

Final Thoughts About Your Business Development Strategy

Know that growth doesn’t happen in a day; it’s harder for businesses to jump from market penetration to supplying new products to new clients.

This is why we recommend that you approach growth slowly. However, know that trade finance may help increase the number of clients you trade with, no matter where they are.

What’s your take on trade finance? How has it helped your business? Share your thoughts, comments and responses with us.

Business Development Strategy – The Absolute Best Business Development Strategy Ever Created!

Are you ready to learn the absolute best business development strategy ever created? Attraction marketing is the absolute best business development strategy known to man. Now that you know the answer, I am going to explain to you why.

The main goal of any business is to attract customers. People spend tons of money on advertising to gain exposure for their business, hoping to make some sales. What if I told you that there was a free way to do this and it could be done on complete auto-pilot? Would you believe me?

You are your greatest asset. Attraction marketing brands you as the leader, and brings prospects to you on complete auto-pilot. All you have to do is constantly put out valuable content (information that people need), and people will search for you, they will literally hunt you down.

The reason attraction marketing works, and the reason it is the absolute best business development strategy ever created is because you are not pressuring people to buy a product or join a business. You literally ATTRACT the people to you that are highly motivated, and highly interested about your business.

When you are the first person to introduce someone to something new, something that they can definitely use to make their life better, it is easy to make a sale. The beauty of attraction marketing is the content that you are giving away can be tailored to attract absolutely anyone and everyone. Whether you want to attract the people that are new to this industry, or the people that have been building businesses for years, everyone has something to learn.

Attraction marketing is a lot like good customer service. You help other people, you brand yourself as a leader, and those people will be loyal to you until the end of time. The best part of attraction marketing, and one of the main reasons why it is the best business development strategy out there is because you already own everything you need to get started.

As I said earlier YOU are your greatest asset. You just simply need to invest in yourself. The more valuable the bigger your business will be. So by working on your personal development, by learning all you can about things like success, business building, attraction marketing, etc, you are making yourself so valuable to other people that they will buy anything that you tell them to.

Attraction marketing is that absolute best business development strategy, once you learn how to use it correctly. People are naturally greedy and want to keep what they know to themselves, but once you get over that, and learn to give without expectation you will see drastic results in ANY business.

Leadership Development Strategy – Strategise Your Life for Success!

An essential part in becoming a leader is to form a leadership development strategy, which requires a great deal of self-discipline. Self discipline is one of the most important aspects in your personal leadership development plan, as it will help you realize your dreams and achieve your goals. The road to success will almost certainly see you sacrifice your time, money and energy in order to reach these desires. So be honest with yourself now…Are you willing to have this dedication? Hold true to the fact however, that if you are willing to give up some of these luxuries short-term, then it will definitely be worth it for you in the long term, because you will find yourself living the life of your dreams.

Key points for your leadership development strategy:

• Accomplish something extra every day and reach your goal sooner by cutting out time wasters in your day.
• Stick to a task you set for yourself, and do not let yourself get distracted by the less important details.
• Shut out the things that take you away from your work so you can focus on your personal leadership development.
• Listen to your body as it will tell you when something is out of balance. Therefore listen to the signals and treat yourself carefully so you will always be the most productive you can be.
• Consider adding exercise or yoga to your daily or weekly routine in order to keep your body and mind in balance with your Leadership Development Strategy.

Do your best to fill your mind with positive information to improve your leadership skills. Reading books is a good way of doing this, and engaging in meaningful conversations with people of all types of backgrounds and philosophies is extremely beneficial, especially in corporate leadership development. You will at times be faced with negativity in the midst of conversations with negative minded people and the commercialism of television and radio, however if you want to have an efficient leadership development strategy then it is more important to perhaps listen to some joyful, uplifting music instead of flooding your mind with negativity.

Improving your leadership development strategy:

• Take good care of yourself. Your body will surprise you and help you accomplish some incredible things if you treat it properly, so make sure you are eating a healthy diet and getting good levels of rest and exercise. Drinking lots of water each day also helps keep you nourished and your brain active!
• Make sure you include time in your life for every area which is important, including work, family, play time and personal time. Scheduling this time in the form of a diary will definitely benefit your leadership development strategy.
• Connect with the spiritual side of yourself. You are living in a world larger than you are, so take a bit of time out during the day to meditate, or spend some time with nature.

Now that you have some tips on designing your leadership development strategy, it is time to go out there and take some action to give yourself the greatest chance of achieving your dreams and filling your desires.