valet virginia leaders in export trade orientation january 12, 2012
TRANSCRIPT
VALET PROGRAM GOAL
The VALET Program’s goal is to accelerate a company’s
international strategy through Planning, Expert Guidance, and Export Expense Reimbursement
IMPACT OF THE VALET PROGRAM
• Intended Results– Increase volume (sales) of Virginia exports– Increase number of Virginia exporters
• Collateral Benefits– Continued international sales post graduation– Continued engagement with VEDP– Identification of growth companies– Identification of expansion projects– Interaction with other Virginia companies– Broader support from the program partners– Three national awards reflect favorably on VEDP
DAY AT A GLANCE
Morning Session Location: Omni Hotel, 2nd Floor- James River Ballroom - Salons A & B Attending: VALET Program Class of January 2012 8:15 – 8:30 Coffee & Welcome 8:30 – 11:50 VALET Program Orientation
VALET Participants—Roundtable Discussions VALET Participants & Program Partners—Panel Discussions
During Morning Break: VALET Class of January 2012 Photo
Lunch Session Location: Omni Hotel, 2nd Floor-- James River Ballroom – Salon C Attending: VALET Graduating Class of January 2010
VALET Program Class of January 2012 VALET Program Partners
VEDP Staff 12:00 – 1:30 Luncheon and Graduation 1:30-2:00 Networking Break Afternoon Session Location: Omni Hotel, 2nd Floor- James River Ballroom - Salons A & B Attending: VALET Program Class of January 2012 2:00-4:00 VALET Program Orientation
Program Logistics Review of Resources & Allocation Procedures
4:00 Wrap-up and adjournment
VALET CLASS OF JANUARY 2012
• Virginia Employees– Total Employees 1299– Average 108
• Virginia Sales – Total $218 million– Average $18 million
• Export Sales – Total $51 million– Average $4 million
• Average Years in Business 22 years
Roger Porter, International Trade Manager Northwest Region30 Ladd RoadFishersville, Virginia 22939Phone: : (540) 213-0267 Fax: (540) 213-0268 Email: [email protected]
Jenee Andreev, International Trade Manager Northern Region8300 Boone Boulevard, Suite 450 Vienna, Virginia 22182 Phone: (703) 506-1031 Fax: (703) 506-1033 Email: [email protected]
Jordan Watkins, International Trade Manager Eastern Region500 East Main Street, Suite 1220 Norfolk, Virginia 23510 Phone: (757) 314-2358 Fax: (757) 314-2360 Email: [email protected]
Michael Howley, International Trade ManagerNorthern Region8300 Boone Boulevard, Suite 450 Vienna, Virginia 22182 Phone: (703) 506-1030 Fax: (703) 506-1033 Email: [email protected]
Diane Thomas, International Trade ManagerSouthwest Region16325 Taylor Place, Suite 300 Abingdon, Virginia 24211 Phone: (276) 623-1536 Fax: (276) 623-1542 Email: [email protected]
Trade Managers
Stephanie Robinson, International Trade ManagerCentral RegionPO Box 798/901 East Byrd StreetRichmond, Virginia 23218Phone: (804) 545-5755Fax: (804) 545-5751 Email: [email protected]
Paul Ehrich, International Trade Manager South Central Region4502 Starkey Road, SW, Suite 100Roanoke, Virginia 24018Phone: (540) 772-3905Fax: (540) 772-3906Email: [email protected]
Caitlin ClarkVALET Research Manager P.O. Box 798 / 901 East Byrd StreetRichmond, Virginia 23218-0798 Phone: (804) 545-5765 Fax: (804) 545-5751 Email: [email protected]
Monica Stautner NicholsVALET Program ManagerPO Box 798 / 901 East Byrd StreetRichmond, Virginia 23218-0798 Phone: (804) 545-5753 Fax: (804) 545-5751 Email: [email protected]
(Serving Northern and Tidewater regions)
VALET Team
Oscar RuizVALET Program ManagerPO Box 798 / 901 East Byrd StreetRichmond, Virginia 23218-0798 Phone: (804) 545-5768 Fax: (804) 545-5751 Email: [email protected]
(Serving Southwest, South Central, Northwest and Central regions)
VALET PROGRAM COMPONENTS
• Strategic Planning– VALET Program Calendar– Plan of Action
• Research• Travel• Networking and Education• Expert Guidance
– Program Partners
• Capital Resources– Reimbursements
VALET CALENDAR
Planning
Event Date and LocationYear 1 2012-2013
Orientation January 12, 2012Richmond
Plan of Action Meeting with Program Manager
January/February 2012
Draft of Plan of Action From Program Manager to Participant no later than end of March 31, 2012
Revisions to Plan of ActionFollow-up meetings as needed
April/May 2012
VALET Program Meeting* April 18, 2012Richmond
Signed Plan of Action Due to Program Manager no later than May 25, 2012
Meeting with Research Manager Summer or FallParticipants’ offices
VALET Program Meeting* October 19, 2012 – In conjunction with the Virginia Conference on World Trade in RoanokeHeld Oct. 17-18, 2012
Each participating company will be expected to send a representative to both of the VALET Program Meetings during the year (these meetings are marked above with an asterisk*).
Planning
VALET CALENDAR
Year 2 2013-2014
Annual Review Meeting withProgram Manager
January/February 2013Participants’ offices
VALET Program Meeting* April 2013 – day TBDRichmond, VA
Meeting or Conference call with Program Manager or Research Manager
Summer or Fall 2013Participants’ offices
VALET Program Meeting*
October 2013 – Day & Location TBD
Exit Interview with Program Manager
November/December 2013Participants’ offices
Graduation Luncheon January 2014 - RichmondEach participating company will be expected to send a representative to both of the VALET Program Meetings during the year (these meetings are marked above with an asterisk*).
PROGRAM PARTNERS
Advertising and Marketing Collateral• 24 Hour Company• ACCESS, Inc.
Corporate Strategy and Market Entry• Capstone • China Channel Limited
Cultural Services and Translation• ABC Translation Services, LLC• TNB Language
Customs Brokerage and Freight Forwarding• C V International, Inc.• UPS• UTi, United States
Financial Services and Insurance• BB&T, International Services Division• M&T Bank• Marsh USA• SunTrust Bank
Legal and Accounting• Piascik & Associates, CPA• Troutman Sanders LLP• Williams Mullen
Regulatory Compliance• Allegheny Brokerage Co., Inc• BSG Consulting
Web Development and Search Engine Optimization• Active Media• Hodges Digital Strategies
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PROGRAM PARTNERS
1. Contact information2. Materials3. Referral Process4. Consultations5. Engagements6. Evaluation Form7. Next Steps
Expert Guidance
PROGRAM PARTNERS
Program Partner Introduction Process: • Group Introductions• Participants Assigned Starting Tables• At Tables (15 min each):
– Partner Introductions – Questions and Answers
• Each participant will visit 5 tables• At the end, will have opportunity to go to any
Partner tableExpert Guidance
Secondary Research• Research services (notebook)• Frequent requests • Resources (orientation research)• Orientation research (notebook)
Secondary Research helps to better define the problem…Sometimes solves the problem!
ResearchServices
Please keep in mind that secondary resources are not as extensive as those of our in-country consultants, so results may be limited.
Product ClassificationAssistance with determining HS/Schedule B codesExport ComplianceProvide information on export license requirements and proceduresEstimate ECCN (based on what other companies are using)DocumentationUS documentation required to export American products to foreign market- sample documentsForeign documentation required to import American products into foreign market- sample documentsMarket SelectionDetermine top markets (destinations of US/VA exports and importers of specific products and services)Market overview (demographics, economic and political environments, trade statistics and agreements, etc.)Verify market demand (industry overview, trends, practices, and competitive landscape)Barriers to trade (import tariffs, etc.)Market EntryRelevant regulations, standards, and certifications (IPR, tax, RoHS, CC mark, etc.)Assistance on determining necessary product modifications (translation, measurements, etc.)Sales options (distributor, representative, direct, etc.)Identify PartnersIndustry associations, Trade showsIdentify potential importers/sales companies as customers/distributors/representativesDue DiligenceDenied Entities List, Company databases and internet search for company information, Company registrationShippingIncotermsUS and foreign shipping security regulations (CTPAT, FAST, ACE, PARS, etc.)Landed cost analysis- final price estimate of client's product in foreign marketMarketing OpportunitiesTrade shows, publications, and web portals, RFP/Tender procedures and announcements in foreign marketOtherAvailable information on competitorsTravel preparations (cultural overviews, etc.)US government initiativesFinancing and payment considerations (country and currency risk, financing resources)
Frequent requests
Competitor analysis
Look at competitors' export destinations, identify competitors HS codes
Due diligence Checking denied parties list, company registrations
Best practices Protecting IP in China, distributorships
Forward - macroeconomy
Updates on the EU, currencies
Forward - opportunity
Competitor analysis
Market research Identifying top markets
Partner search Identify potential retailers, current importers of product
Technical assistance
Technical assistance on HS codes, export license requirements, and South Africa’s BBBEE program
Trade shows Determining relevant trade shows, requirements for trade show participation
Research Examples
ResourcesSubscriptions to databases and publications Company profiles
Trade and economic statisticsBills of ladingTrade events
US and foreign government websites’ and trade promotion agenciesInternational institutionsMarket and industry news
Trade Resources to ExploreVEDP Fast Facts – CountriesVEDP Fast Facts - TopicsExport.gov – Maintained by the Department of Commerce, check out the FAQ page and market research library (must set up a free account in order to access most market research)United Kingdom Trade and Investment – Like export.gov, the UK’s trade promotion office provides free market research by sector and country. If you can’t find what you’re looking for at export.gov, try UKTI.GlobalEDGE This website has everything, country and industry profiles, a global resource directory, online course modules, and tons of other tools.GlobalTrade.net – Aggregates market research and industry news from numerous international resources. Check out the market analyses and business tips sections. The website also provides a database of foreign trade service providers.Business without Borders “Global Opportunity Tool” – Developed by The Economist Intelligence Unit, the tool allows exploration different international markets (55 countries) based on data from specific industries (385 products or services).The Federation of International Trade Associations (FITA) - Provides international import export trade leads, events, and links to more than 8,000 international trade (export import) related websites.Global Small Business Blog – Updated daily with trade-related news articles and perspectives
Also check out the VALET Members Only Research Resources(username: valet; password: participant)
Orientation Research
General•A Basic Guide to Exporting (Department of Commerce)•Compliance Guidelines: How to Develop an Effective Export Management and Compliance Program and Manual (Bureau of Industry and Security)•Market Selection Table•Executive Survey on Emerging Markets (Deloitte)•Do's and Don'ts of International Distribution/Agency Agreements (Kaufman & Canoles)•Trade Finance Guide (Department of Commerce)
Customized•Hoover’s, Onesource, or Kompass company database profiles•Trade statistics for product or service•Competitors’ trade profiles•Sector/market reports•Resources (industry associations, publications, etc.)•Industry indicators
GLOBAL NETWORK
16. Hungary17. India18. Ireland19. Israel20. Italy21. Japan22. Jordan23. Latvia24. Lithuania25. Malaysia26. Mexico27. The Netherlands28. New Zealand29. Norway30. Poland
The Global Network is a comprehensive group of pre-screened in-country consultants who work with the Division of International Trade on behalf of Virginia companies. These consultants deliver top-notch market research specific to your industry and your target market. Some fees do apply.
1. Argentina2. Australia3. Belgium4. Brazil5. Bulgaria6. Canada7. Chile8. China and Hong Kong9. Costa Rica10. Czech Republic11. Denmark 12. Estonia13. Finland14. France15. Germany
31. Qatar32. Romania33. Russia34. Saudi Arabia35. Singapore36. Slovakia37. South Africa38. Spain39. Sweden40. Thailand41. Turkey42. UAE43. Ukraine44. United Kingdom45. Vietnam
IN-COUNTRY CONSULTANTS
JapanKoji Deguchi
China Joyce Hua
MexicoMargo Galvan
There is no cost to VALET companies for research projects completed by Koji, Joyce or Margo
VALET PROGRAM TRAVEL REQUIREMENT
• Participate in one VEDP trade event over the course of your two years in the program
• Reimbursements– Final $2500 will be held until company commits to or
participates in a VEDP trade event
• Options– Group Market Visit– Independent Market Visit– Add-on to previously planned trip or trade show
GROUP MARKET VISITS
2012•India February 20-24•Saudi Arabia/Qatar March 10-14•China April 16-20•South Africa May 7-11•Brazil May 21-25•Farnborough Airshow July 9-15
Register online at
http://www.exportvirginia.org/schedule_market_visits.html
The Group Market Visit Schedule for fiscal year 2013 (July 2012 – June 2013) will be posted by end of February, 2012.
“VEDP market visits are organized, well planned, and achieve great results. The matchmaking program allows Virginia companies to directly connect with pre-screened clients and potential partners, matched and selected in advance. As a result, the market visits are less stressful, more productive and allow us to concentrate on why we came: business.”
INCREASE SALES….DECREASE RISK !
MARKET VISITS
“All the meetings went extremely well and I couldn’t be happier with the reception of the companies in Germany and the UK…. Thanks to all of the VEDP staff for following through, this trip has already paid for itself and continues to add major highlights to our development in the world market.”
Private meetings with potential distributors and customers
MARKET VISITS
INDEPENDENT MARKET VISITS
• If you would like to visit a county outside of the VEDP’s Group Market Visit schedule, you may consider organizing an independent market visit through the VEDP’s Global Network
• 45 countries • 3 days of meetings for $3000-$4000 (depending on the
country)– China, Japan and Mexico are $500 a day, if you require on the
ground assistance
• VEDP will connect you with in-country consultants who identify, screen and set appointments with qualified distributors, agents, or partners
INDEPENDENT MARKET VISIT COUNTRIES
16. Hungary17. India18. Ireland19. Israel20. Italy21. Japan22. Jordan23. Latvia24. Lithuania25. Malaysia26. Mexico27. The Netherlands28. New Zealand29. Norway30. Poland
1. Argentina2. Australia3. Belgium4. Brazil5. Bulgaria6. Canada7. Chile8. China and Hong Kong9. Costa Rica10. Czech Republic11. Denmark 12. Estonia13. Finland14. France15. Germany
31. Qatar32. Romania33. Russia34. Saudi Arabia35. Singapore36. Slovakia37. South Africa38. Spain39. Sweden40. Thailand41. Turkey42. UAE43. Ukraine44. United Kingdom45. Vietnam
NETWORKING AND EDUCATION
• Recent Content:– April 2011
• Focus: Marketing and Translation
– October 2011• Focus: Managing Risk (legal, financial, accounting)• Virginia Conference on World Trade
• Upcoming Meetings:– April 18, 2012 in Richmond– October 19, 2012 in conjunction with the Virginia Conference on World
Trade in Roanoke
• Additional Opportunities – Financing Options– Website and Software Localization
EXPENSE REIMBURSEMENT
• Guidelines• Reimbursable and non-reimbursable expenses• Time period
– Jan 1, 2012 – Dec 31, 2013• Reimbursement form
– Unique project code for each company– Relevance, paid invoice are required
Expense Reimbursement
$15,000!!!
CLIENT IMPACT STATEMENTS
• International Trade is part of the VEDP• International Trade & VALET Program are
evaluated based upon the impact that we have made on your company
• This impact is measured through the use of Client Impact Statements
Your Success is Our Success!
ONLINE CLIENT IMPACT STATEMENTS
Oscar, Monica, Caitlin, or other VEDP Staff will provide you with a link to an on-line evaluation form
VEDP PUBLIC RELATIONS & MEDIA
• Press release • Tailored for region
– Issued to regional media outlets as soon as possible
– Follow-up by VEDP C&P staff• Let us know of specific contacts with your local
publications• Always interested in pitching stories about VALET
companies!
VEDP RESOURCES AND OPPORTUNITIES
• VEDP internet resources – Website http://www.exportvirginia.org/– VALET Participants Only Section
• Login=valet• Password=participant
• Follow us and the VEDP– Twitter: VirginiaExports– Linked In: VALET Participants & Alumni Group– Facebook: Virginia Economic Development Partnership
• Calendar Contest • VALET Program Update
PROGRAM PARTNERS
Advertising and Marketing Collateral
Corporate Strategy and Market Entry
Cultural Services and Translation
Customs Brokerage and Freight Forwarding
Financial Services and Insurance
Legal and Accounting
Regulatory Compliance
Web Development and Search Engine Optimization
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We strongly encourage the VALET Companies to reach out and contact at least 2 Program Partners as part of their Plan of Action process with the VALET Program Manager.
Consider,…- upcoming needs- strategy consideration- education
REMINDERS AND NEXT STEPS
• Expect follow-up emails within the next week from Oscar, Monica and Caitlin
• Upcoming Group Market Visits• Talk to Oscar or Monica if you don’t already have
your Plan of Action meeting scheduled• Call us with questions!