Free Excerpt from World Business
Resources.com by Garrett Wasny
CHAPTER ONE: BORDER BUSTER TOOLKIT
COMPETITIVE INTELLIGENCE
Don't Judge A Book by Its Cover. At first glance, many international websites may not look like much, especially those based in areas such as Africa, Latin America, and the Middle East where the Internet is still in its infancy. Don't let the basic design and the odd spelling and grammatical errors fool you. To post a simple website, however crude, in these cyber-neophyte cultures is a major undertaking. In these locales, even the most basic telecommunications infrastructure is lacking and computer equipment sparse and antiquated. Often, the only businesspeople capable of such a venture are the key movers and shakers who have the know-who and know-how in their particular market. That's why the best thing about such websites is not the actual website content, but the simple e-mail link or street address of the businessperson who created the page or runs the organization. To take full advantage of this resource, manage your expectations about the site design and content, and focus instead on the people behind it. If you're interested in that particular market, e-mail or write the administrators and start a dialogue. However plain their webpage, they may have valuable insights and door-opening clout, and be useful guides and partners for you in that country.
There's No Place Like Home. While the web provides access to valuable trade resources worldwide, it also connects to key local trade contacts that many businesspeople have traditionally overlooked or underestimated. This directory, for example, lists approximately 1,100 trade resources based in the United States. Of these, some 500 or 43% are representative offices -- Embassies, Consulates, Trade Offices, and bilateral chambers of commerce. When gathering information about international markets, be sure to include a sweep of these representative offices in your own country and city. Virtually all provide business information and assistance, and can help you connect with partners and customers in their home country. In some cases, the best online contacts and information on a particular market -- especially those from Africa, Latin America, and the Middle East -- are not based in the actual country. Rather, they are on the website of that country's Embassy in North America or Western Europe. This is because the representative offices in these highly developed regions have access to the latest and best Internet technologies and computer equipment, while government and business organizations in the home market do not.
Be Specific. When e-mailing Embassy and Consulate officials to seek advice about a particular market, be as specific as possible with your questions. Avoid open-ended queries such as "what are the best trade opportunities this year", "how is the economy doing", or other general questions which could be easily answered with a quick Internet search. Instead, zero-in on specific companies, products, and places. Ask questions like "which companies are the leading distributors of wooden furniture in Mexico City" or "which consulting engineers in Monterrey have experience in wastewater treatment." The more focused your query, the greater your chances of a quality response. Commercial officers receive thousands of requests for information every year, many of which are unfocused inquiries from businesspeople with no serious gameplan or commitment to a particular export market. These submissions generally go to the bottom of the pile. The inquiries that receive top priority and the most attention are those which focus on a specific product or service, and identify clear cross-border business goals.
Search for RFPs. When using the major search engines, key in the terms "request for proposal" and "request for information" along with the names of your product or service categories, and your geographic target markets. A management consultant interested in, say, the United Kingdom market, should key in the phrase "request for proposal AND management consulting AND United Kingdom." Experiment with different keywords in different combinations. This may uncover new sales leads and supply opportunities.
Get Smart. Looking for industry specific Internet resources? The Internet Intelligence Index provides a directory of leading online resources in over 20 industries including aerospace, construction, pharmaceuticals, and retailing.
Track Invisibles. To gather tough-to-find data on commercial services trade, visit World Trade Organization Trade Statistics. Along with statistics on world merchandise trade, the webpage delivers data on the world trade of commercial services by region and selected economies for the years 1985 to 1997.
Letter Perfect. Get international trade information delivered to your desktop for free. Check out newsletters such as the Daily Brief and Global Business Newsletter. Both provide global trade headlines and industry reports at no charge.
Back to School. An underrated source of market information is business school cases, studies conducted by business school professors and graduate students on countries, sectors, companies, executives, and management strategies. For case availability and pricing, check out the MBA Program Information Site. With links to more than 1,700 MBA programs in 115 countries, the site is an excellent starting point to investigate business school research resources.
Patent the Search. An often overlooked source of business intelligence is patents, the grant of a property right by a government to an inventor. Among other information, patent searches can tell you the latest developments in a technical field, and how products you may plan to commercialize stack up against state-of-the-art inventions. Check out Patent and Trademark Offices Worldwide for a directory of patent databases in over 30 countries including Canada, France, Germany, and the United States.
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