Connecting to Success Right Now
Black Business Initiative
Thursday, February 23, 2017
5:30-8:30
Nova Scotia Business Inc. (NBSI) Presentation – Jessica McCall, Export Development Executive
Bridget C. Williams
This Session was to push and stretch your imagination, optimism, and faith. It was an extraordinary experience and eye opening.
Where do you start? You must make a commitment. Doing the research is an extensive process. You have to look at hiring staff, money, customer base, and service base. Expect to have clients across Canada or all over the world based on which market you are tapping into. This is a transitional phase of growing your business. This takes diligence and determination and is for the risk takers.
Research
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Research can replicate sales and resources capacity
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This take innovation and production
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You must be patient and a risk taker
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Marketable product service
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Persevere
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Think realistically and have a positive attitude. This is part of growth.
Resources
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Packaging and Labelling
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Webpage is imperative
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Think can you make enough- product pricing
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Good relationship with your lender
Financial support
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In Nova Scotia you have companies like BBI, BDC, CEED, CBDC which can help in the process.
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Government grants
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Think about expansion on your product
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Where would you hire your staff?
Benefits
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Higher profits
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People purchasing your product
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Increase market shares
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New knowledgeable experience
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Economies of scale
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Reduce vulnerability to risk
Innovations
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You will learn something every time
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Recognize what you can learn
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Improve competitiveness
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Constantly learning
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The Small things make a difference
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Being bigger don’t make you smarter
Room for Growth
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Technology
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Financial services
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Look at who you are closer to world wide
– Europe is closer to Nova Scotia
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We can work with international people and they love this country we live in
Myth
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Not getting paid
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Not trustworthy
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I can’t compete
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To small
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Export is too risky
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Fear
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Horror Stories
Hurdles
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War &Conflicts
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Logistics
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Sustaining a love of commitment
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Look at the red flags
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Increase cost
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Legal protection IP
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Competition
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Country Risk
Our Focus on Exporting
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Export development – Executives
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Trade Market Intelligence Reports
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Small Business Development
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Nova Scotia Business Insider
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Increase Exports
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Build Capacity
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Improve Confidence
Ivany Report
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We need more money coming into Nova Scotia
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We need more tax revenue coming in
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Attract and retain more people
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We want to encourage and bring people here
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Value add production
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Export products outside of Canada
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Exporting is also across Canada
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We are honest in Nova Scotia (its
known)
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We have a long history of export – Seafood market is a huge one
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Sell Nova Scotia to the World
Is your Business Ready for international Trade? How do you close the gap?
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Company performance
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Human resources
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Production resources
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Financial resources.
Have a Game Plan
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Management on board
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Exportable products or services
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Surplus capacity and resources
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Which market is the best for you to step into
Markets
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How do you identify your markets?
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Who is near you and who do you want to know
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The steps
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How does your product needs
to change in the market
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How will your product reach your customers?
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Direct to consumer t
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E-commerce
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Licensing Agreement
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Distribution / Wholesale
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Franchising
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Trading houses
- Green field
investments
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Joint ventures
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Agent
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Do not use methods from domestic stores
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Try different methodologies
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Look at the margin it is going to cost you
Question you need to ask
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Who is going to pay for what?
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Who is paying tax?
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Direct Shipping?
Getting Paid
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Start early
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Trust but verify
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Trade financing letter- when nothing else works
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Careful on letters of credit – Have the bank check it to confirm it
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Negotiate