WHO to HIRE

WHO to HIRE?

If you want to optimize your global business, you should be asking the question: “Who do we need to hire to achieve our international goals and objectives?”

Although international or global business embodies the same fundamentals that domestic business encompasses (i.e., if you buy or sell products or services, you are still just buying or selling products and services), it is much more complex, cumbersome and costly. The difficulty is even greater when you are working in developing countries.

Given the current and projected growth of several developing countries and that effect on your company’s competitive advantage or even survival, an important item on your company’s agenda for analysis is global expansion. To achieve your goals and objectives, and in order to penetrate selected global markets, you must hire or contract with the necessary individuals to heighten your chances of success. In terms of images, you are building a bridge between your company located in the US and an entity located in a foreign country. The steel and concrete of that bridge are the individuals and resources that you employ.

Good Communication is Essential

One skill or talent that all of the individuals on that bridge must possess is the ability to communicate. Communication is the most vital contributing factor to the success of your efforts. The type of communication is based upon the knowledge and experience of dealing internationally and, increasingly important, the experience of having done business in a developing country as a local. In addition, if you are dealing with a foreign language issue than obviously you will need translations. However, the translation you will need is not just a language translation. You will need someone who will be able to translate the essence of the business, the terms, the concepts, etc. To best avoid future pitfalls you should ensure at the very initial stages of your endeavor that there is a translation and deep understanding of all the business cultures involved by all parties.

What International Expertise do we need?

These are the individuals located in the US who have a great deal of international experience, plus a good understanding of or connections in the country or region where you plan to do business.

v Market Study Consultant

This is much more complex internationally, particularly in developing countries where information is not always available or complete. You may therefore need someone to conduct the study who has access to people in the industry in the country you plan to do business.

v Global Analysis Consultant

This is somewhat similar to a market study, but on a global scale, also including strategic analysis and planning.

v Trade Specialist

If you are exporting products, then you will need trade specialists to assist in export documentation, transportation, logistics, etc.

v Tax Planning Professional

In addition to your usual accounting and tax reporting, and depending on the corporate complexity of your business, you may need international tax attorneys as well as accountants with domestic and international skills for tax planning.

v Corporate Development Executive

The person for this role will help you develop your international strategy and corporate development, and is essential in the development and coordination of all of the international elements, including the other individuals described in this writing. He or she must be able to recognize the issues involved and be able to address them or involve the necessary professionals to assist. This individual is a very important element in your international bridge and the person you will rely on to achieve the proper communication.

v International Executive

The person for this role will help coordinate and integrate your international business within your corporate structure and governance. He or she is an essential element of your international bridge, will integrate your corporate culture and the foreign business culture, and work with the foreign divisions or offices to meet company goals and objectives. You may have several international executives depending on your size and geographical reach.

What Foreign Expertise do we need?

These are the individuals located in the country where you plan to do business

v Foreign Attorney

Each country where you plan to do business has its own legal tradition and laws. Although you may have qualified under certain international conventions or practices, international law is law by consensus. Therefore each country will determine whether it accepts and applies international law. In addition, contracts have different levels of importance and terms of enforceability in other countries, particularly in developing countries.

v Foreign Accountant
This accountant will understand the foreign tax structure and rules.

v Fiscal Agent

Depending on your foreign business presence, you may need a local representative with the governmental taxing authorities.

v Trade Specialist

If you are exporting products, then you will need local trade specialists to assist in import documentation, customs, logistics, etc.

v Foreign Management

This is a local business executive who has a deep cultural understanding of the foreign country including the business culture, is able to communicate well with your international executive and corporate development executive, is dedicated to the success of your business venture, has potentially necessary political connections, and knows how to achieve your goals and objectives.

v Market Penetration Leaders

These individuals have the necessary sales and marketing experience and skills to help you achieve your market penetration metrics in the foreign country or region.

The individuals that you hire to effectuate your global expansion are as important to the success of your endeavor as are the actual opportunities created by your product and service offerings. It may be more costly in the initial phases of your business to hire the recommended individuals; however their experience and knowledge will serve to avoid potentially costly pitfalls later in your transaction or business dealings at a point when extensive investments of time and resources, and possibly a contractual commitment, have already been made.