Bob Boss, Albany General Manager for Mohawk Global Logistics, explains what businesses can gain from expanding into international markets and names some of the resources that can help your company take the next step towards global growth.
Video courtesy of the Albany Business Review.
Reporter: We’re here with Bob Boss, General Manager of Mohawk Global Logistics. Bob, can you explain to us why it’s important to diversify your business?
Bob Boss: Sure, absolutely. It’s extremely important to diversify your business, especially when you’re growing your business domestically, internationally.
One of the things I like to discuss is the fact that adding product and product lines to your current manufacturing is important. As demand grows domestically, demand can grow even exponentially, internationally.
It’s also good to find a product that helps complement your current products so that demand is greater and you get more international focus. The reason I say this is, diversification is key. During the 2008-2009 downturn in the economy, some local companies had seen consistent growth or at least stabilization due to the ability to sell internationally. If you currently use just domestic sales as your base of revenue, growing internationally will increase that and help you be successful through down times.
There are many resources, websites, and contacts within in the Capitol District that can help you: Cathy Gibbons from the Department of Commerce, Gerry Shaye, local resources like international freight forwarders (like myself) or bankers and lawyers, as well as groups like the Tech Valley Global Business Network.
Bob Boss is Albany General Manager for Mohawk Global Logistics. Read more about Bob Boss.