Guide to developing business skills
Gain the knowledge and skills to contribute to crucial business discussions that drive strategic decision-making to build a high-volume, large-scale business.
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Let's use our entrepreneurial skills to create a network and chart a path to success.
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Negotiations are sometimes complex. For example, purchasing and subcontracting contracts are negotiated with suppliers. Marketers deal with domestic or foreign distributors, and products or services are managed by customers. However, product development is negotiated with partner companies in a coherent system, such as the maquiladora industry, whose production methods are regulated by a kind of contract whereby the contracting party pays the producer or manufacturer a sum of money for transforming, adapting or adding to the raw material it delivers. Therefore, this development requires an analysis in case there is any innovation, diversifying the type of negotiation, as it could require specialized personnel key to competitiveness.
What is needed to be successful?
​Five skills to take your business to the next level.
ONE / BASIC KNOWLEDGE OF ECONOMICS
Basic knowledge of economics is valuable when processing information in the industrial sector. This will help you apply strategies, market and price knowledge, product need and demand, decision-making, and competitiveness.
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A market economy is a monetary system in which two forces, supply and demand, drive the production of goods and services.
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The knowledge of a good market economy is not subject to the control of any controlled central authority (such as a government) since exchange develops from the voluntary interaction between supply and demand.
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“Demand” refers to the goods and services people need or want. “Offer” refers to the quantity of goods and services available. If the supply is low while the demand is high, the price someone can charge for it increases. Conversely, if there is a more excellent supply of certain goods and people do not want them as much, the price will fall. The supply and demand levels for any given good or service tend to move towards an equal equilibrium, but this equality, if achieved, cannot be maintained for long. Hence, the tension between supply and demand creates a fluctuating market.
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TWO / DATA ANALYSIS
Obtain sufficient commercial information to recognize the need, trend, consumption, and contrast hypotheses that can provide an analytical reading to address commercial characteristics or complex decision-making problems.
THREE / ECONOMIC CAPACITY AND FINANCIAL ACCOUNTING
Concepts such as collateral, cash flow, and profitability are useful in understanding the performance and potential of a trade.
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Know banking instruments that provide security in operations both at origin and destination and develop a framework of guarantees that levels the trade balance in an equitable and fair manner.
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For example, Credit insurance protects your international operations against commercial risks beyond your control. Companies that are backed by credit insurance benefit from a better rating when they request financing from an investor or bank.
FOUR / NEGOTIATION
Whether you're just starting your business or professional life or operating at a high level, it pays to be an effective negotiator.
Developing business skills can allow us to secure value at the trading table with high profitability. We must always be vigilant and alert, ready to improvise and plan immediately. Success is in being agile, therefore you must move, to deploy different abilities depending on the situation and who you are dealing with.
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One of the important aspects to take into account is the capacity and resources we have to minimize fraud, the methods that exist and their limitations.
Consider these recommendations:
Use common sense: If something seems wrong, for example, a buyer's billing and shipping addresses don't match (especially if the addresses are in different countries), review the terms of the offer or order and don't waste time processing it until you are sure. Verify directly with the entities that report payment guarantees that they are legitimate, have and are accredited with their respective certification, check their track record, recognition and reputation in the country of origin.
Address Verification System (AVS): Ask your bank how they can ensure that a buyer's payment systems are valid and secure. An AVS is one that is used to verify the identity of the buyer or seller, determining his address and that it coincides as the owner and not in other places.
Maintain IP Geolocation systems on your computers: This service is available through several companies and allows a seller to identify the geographic location of a potential buyer (country, region, postal code) based on the IP address of the computer that is uses. If the country or region of the buyer's or seller's address does not match the IP address, either party may investigate further or reject any deal entirely. This method is gaining popularity, particularly among larger exporters or companies.
Background Checks: Exporters, especially those involved in business-to-business (B2B) sales totaling miles, and possibly millions, of dollars to a foreign agent or distributor, should conduct background checks on exporters of potential buyers. , even if it means taking the checkout process offline. or put it on hold. Background checks may include purchasing a potential buyer's credit report, asking for references, or other practices. Carrying out due diligence online in certain countries can be difficult; information about the business may be posted in a language you cannot translate, or the practice of posting reviews of buyers and sellers online may not have caught on.
Country Exclusions: If your business is small and you are just testing the export waters, you may not want to ship to countries where the risk of fraud is high. Just make sure your site includes those countries; That way, potential customers won't waste time creating an order that can't be fulfilled.
Additional Resources: The best resources you have to combat fraud are your bank, insurers, and the credit card companies themselves. These entities spend millions of dollars fighting fraud and then share that information with you in an effort to reduce fraud.
Get used to using the Risk Coverage services that provide you with the necessary instruments to transfer the risk of fraud to a third party, such as an insurer, since this will assume the responsibility of investigating the buyers or sellers and their solvency and transaction schemes to convert a foreign currency to dollars. currency concept
Any means of payment (check, transfer, etc.) encrypted in a currency other than the national one. Foreign banknotes are also included in the concept of currency.
currency fluctuations
Currencies fluctuate constantly due to a number of factors such as:
Import and Export Operations
Political-Social Situation
Economic indicators (Interest rates, Inflation, etc...)
Incidents in the Money Market
Interventions Central Banks
Market Liquidity
​FIVE / MANAGEMENT
Management is a business skill that drives negotiation. Persevering in the project is the invisible force that leads us to the success of a negotiation. The ability to communicate and move analyzing each step and certifying each detail.
Gain the knowledge and skills to contribute to key business discussions to drive strategic decision-making so you can build a high-volume, large-scale business.
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Let's use our business skills together to build a network and chart a path to success.
If you want specialized advice in the same language about a business concept, you must contact the administrator by writing only to the email op@v5ga.com, explaining your need, to guide us and give you an answer. You will get a response and attention only by email, in which you will be issued a budget based on your need for consultation and payment must be made only through our bank account. You must attach your full name and surname, the address of your home or office, postal code, telephone number, and how you will make the payment. Once the payment has been made, you will receive your invoice for our services, sent to your email from our offices. Our communication is only by email and videoconference. We do not send or carry out any other method of contact other than by email. We do not make phone calls or any type of contact, much less promote products or services through an instant messaging application for smartphones.
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