Congratulations, you’ve made your first international sale. Now what should you be concerned with? Well not to scare you, but your primary focus should be on getting paid and how you go about that depends not only on you, but the buyer as well.
For example, let’s pretend for a minute that you’ve met a buyer online and they have agreed to purchase $500,000 of services or equipment from you. You’re excited because your average domestic sale is $25,000 and this represents a huge win for you and your company. The overseas buyer expresses to you that they would like to pay you 60 days after they have received the services or equipment from you and they have promised you much more business in the immediate future.
Before you commit to such a buyer, you should be stepping back and asking yourself the following questions:
Making your next sale is critical, but getting paid is key to your export growth!
-Scott Forster, DEC Member/ Treasurer Emeritus
Contributors and Writers are members and associates of the MD/ DC District Export Council. The views expressed do not necessarily represent the opinions of the MD/DC DEC.