
Taking Small Business International
''The world is getting very small,'' Greg DuMontier, president and CEO of S&K Technologies, told a room of American Indian business leaders attending an international market seminar during the 20th Annual National Reservation Economic Summit and American Indian Business Trade Fair. ''Initially it was a scary thought. The attitude was, 'What are we doing in international markets?' But it's a part of the pie. If you don't pursue it, you're ignoring a large portion of that pie. If you do pursue it, you will open a lot of doors.''
DuMontier, who also serves as the vice chairman of the Native American Contractors Association board of directors, was one of a half-dozen speakers to take the podium at the Las Vegas Hilton and walk Native entrepreneurs through the steps of breaking into the international market and becoming a success overseas.
''Our mindset has always been reservation first, looking outside into the U.S. second and then beyond the borders,'' DuMontier said. ''But if you have something that nobody else has, the international market represents a unique opportunity that's not beyond your reach. The gaps are a lot narrower than you think and it's a lot easier to do than you might think. It's not easy, but it's not as difficult as you would think. It's there. It's available and it's exciting.''
The speakers, all well-versed in the nuances of working abroad, reviewed the obstacles of getting started in fields such as banking and insurance to determining if a particular country is the right fit for the services or products being offered. They also gave advice on what to avoid and the pitfalls and complexities of working outside the United States.
For example, Charles Johnson, president of the Johnson Strategy Group, a business planning and consulting firm, went through a step-by-step presentation for entrepreneurs to follow when deciding whether an international market is right for them. He advised potential investors to personally visit the country under consideration, meet with local business leaders and form a partnership to help things run more smoothly. If taking this route, he suggested conducting interviews and doing extensive research on an individual or firm, including background checks, before entering into any financial agreement.
Johnson said the international market is currently ripe for Native business leaders to jump in, but such a move requires adaptability. According to the U.S. Small Business Administration, small businesses are going global in record numbers; and with 96 percent of the world's population and 67 percent of the world's purchasing power located outside of the United States, it's an area of expansion for American businesses with huge potential.
''Global trade is not a fad,'' Johnson explained. ''You have to get your ducks lined up; it can be a success, and the people here in Indian country have skills, products and services more extensive than you can imagine.''
Ryan Slattery / Indian Country Today