By: James Goetz
(New Jersey) When deciding whether to turning your concept into profit, you must decide whether you want to succeed domestically or overseas. There are advantages and disadvantages to both, and no silver bullet to take advantage only of both. Once you decide what is best for your particular business, commit to it and succeed.
CLOSER WORKING RELATIONSHIP TO CLIENTS
While the world of online conferencing is very simple in this day and age, there’s still something to be said about being old school.
Shaking your clients hand, taking someone to lunch and getting to really know someone will greater solidify relationships and make clients more apt to do long-term business with you.
QUICKER LEAD TIMES
If you are selling a product, it’s all about distance. People want what they buy now. Waiting for it to travel 3,000 miles takes longer than 10 miles.
LOWER UNIT MEASURES
If you are selling a product, you will need to manufacture it. Chinese factories often want minimum orders in the thousands. When getting started, this is not always feasible. Domestic manufacturing helps keep cost down to lower minimums
ABLE TO VISIT FACTORY/DESIGN STUDIO
Visiting a factory, studio, marketing firm, etc., is for easier by car than airplane.
Taxes and fees are often higher domestically
NO ONE STOP SHOPPING
Domestically you may need to manufacture your product in one location, buy containers in another, labels another, etc.
Domestic equipment may be older
Enough said. Caveat: price does not indicate direct or indirect
Relationship to quality.
Longer lead times
-Shipping to you is a logistic challenge. It just takes longer.
Higher unit minimums
See domestic advantages
Higher shipping costs
Longer distance to you costs more
Lack of Communication
Language barriers must be overcome and often times are not. This
Plus distance makes building a relationship more challenging.
Payment Needed Up Front
Hopefully the factory builds your product exactly to your specifications If not, they got every penny of what they wanted.
James "Jim" Goetz, affectionately referred to as, "Dr. Daddy", is a leading global expert in the field of health, fitness and wellness having spent many years as a strength and conditioning coach, completing his national chiropractic board exams and authoring numerous articles on the subject. He currently explores the unknown in advancing human performance through scientific research.
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