Floyd Simpkins https://www.tradeready.ca/author/floyd-simpkins/ Blog for International Trade Experts Fri, 17 Jan 2020 18:32:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 33044879 4 lessons learned on starting and growing a career in international business https://www.tradeready.ca/2019/topics/import-export-trade-management/4-lessons-learned-on-starting-and-growing-a-career-in-international-business/ https://www.tradeready.ca/2019/topics/import-export-trade-management/4-lessons-learned-on-starting-and-growing-a-career-in-international-business/#respond Thu, 11 Jul 2019 11:03:46 +0000 http://www.tradeready.ca/?p=29024 It seems that for the most part of recent history, there is never a good time to be starting a career, unless of course you are in a rapidly growing high-tech segment of an expanding industry. In 1979 when I started my own career following graduation with an MA in International Relations, there was turmoil internationally, terrorism was rearing its ugly head, oil prices were sky rocketing, Chrysler was heading for bankruptcy and inflation was on a trajectory to eventually reach 21%.

Although governments in Canada were freezing hiring and limiting budgets, I managed to get a 3-month contract with Consumer and Commercial Relations (the name of the Ministry at the time) as a Policy Analyst. For the next 3 years I went from 3 to 6-month contracts and finally to one-year contracts, and eventually after proving myself and building my reputation, to full-time status.

I took additional courses in French, mathematics and accounting to broaden my skill base and wrote articles on doing business in foreign markets, based upon research and interviews I conducted with experienced traders. I used whatever tools I had to acquire to strengthen my resume and orient it toward what I really wanted to do.

All of this effort put me in a position to apply for an “internship” in the Ministry of Industry and Trade and do what I really wanted to do – work in the growing field of international business. Taking the job required a pay cut – not exactly great timing with our first child on the way and a new house with a high-interest mortgage. However, the rest is history you might say, as I progressed rapidly and after progressive responsibilities retired in 2016 as a Professor of International Business. Now I operate a small import-export business, just for fun.

Charmed life you might say? The road to achieving what I had set my sights on to do as a career was far from easy. And, I will admit no different than the path anyone may take to obtain the same results. So what advice can I offer to young people just starting out in their careers, perhaps not long out of school, and who intend to work and thrive in a career involving some form of “international business”?

1. Recognize that you may not be able to start your “dream job” right away

It may happen that you must start working in a field totally different than what your goals project. The key is that you do two very important things:

1) Once you obtain that first job, do whatever job you are in to the very best of your ability and build your reputation as a reliable, adaptable and relentless learner such that your performance – and your reputation – is well regarded.

2) Keep your eye on your goal and continually look for opportunities to apply for positions that are related to your core interest in international business.

It could well happen that the endeavour in which you are currently involved has an international component somewhere in its organizational structure and opportunities may arise that allow you to move, now with experience, to that position.

I once met one of my students on the floor of a Canadian Tire, stocking shelves, a year out of school. He told me that he was disappointed in his current occupation and still wanted to work in international business. I told him to first be the best employee that Canadian Tire had ever seen – and if that meant being a “stellar shelf stocker” so be it.

I noted that since Canadian Tire bought products internationally, watch company job postings for opportunities in the purchasing office or a logistics function that moved products from foreign markets to Canadian Tire distribution centres.

After all, he had an education related to that work – including all of the FITT courses . This suggestion got him thinking and although he did not end up with Canadian Tire, three years on from graduation he is now working for a leading customs brokerage firm. A recent thank you email for that passing advice reaffirmed that I had steered him in the right direction.

The moral of the story is that sometimes it may take what I call a “flanking move” on the job you seek. Just get a job in the building, which may involve taking a job at or near the bottom of the organization. If you are in the right organization and develop the right work ethic you can move your way up the chain. This applies to any position in any field.

2. Practice continuous learning and continuous improvement

Continue to take courses to add to your tool kit. Now, education is very tailored to specific skill sets and designations that may take one or two years to complete. In the grand scheme of things this is a short period of time. If you already have a good general education in international business, such as that obtained from the skill set derived from a full FITT program offered at many leading educational institutions leading to the CITP designation, build on that knowledge base.

Consider for example, the many designations that can be obtained in logistics, supply chain management, freight forwarding. Consider as well learning or improving your knowledge of another language, a fundamental skill in the conduct of global business.

I like to say, in the world in which we now live, you cannot say “business” without saying “international”.

Many businesses have these needs and functions embedded within their operations. Consequently, many businesses will have international requirements and working in these areas are financially rewarding and will satisfy your appetite for an international career.

But keep in mind, your learning will never stop here. If you pay attention to the two important things I mentioned in my first piece of advice – you will continually move in a positive direction and further develop your career. Every employer rewards people who never stop trying to perform better and achieve the organization’s goals – in alignment with their personal goals.

3. Recognize that many “opportunities” exist in places you may never have considered

Another one of my international business students was feeling a little despondent for not obtaining employment in his chosen field of study. He bemoaned the fact that he had an upcoming interview with a Canadian bank and felt that he would be destined for “tellerdom”.

I encouraged him to study hard for the interview and since he was a very smart and industrious fellow, and with his keen sense for and skill with “numbers”, win the job and take it from there. I suggested that banks were excellent training grounds and would offer a plethora of varied, future opportunities beyond whatever position he may take initially.

Banks, I suggested, also have several international departments and international operations, and with an eye to his goals he could apply for these positions from within the organization. One day I entered my branch to do some banking – and there he was, a financial advisor, which when we spoke suited him for the time being as he positioned himself for those very opportunities of which we had discussed two years before.

One can consider many diverse businesses and then think about how there might be an “international component”. Take the investment industry for example. It is not just a business of buying stocks and bonds or selling mutual funds. All investment companies evaluate international opportunities for investment, assess international political and economic (as well as business) risks and positions in these areas are filled with international exposure.

4. Do not ignore governments or international organizations because they seem “too lofty”

Do not ignore governments or international organizations just because they seem “too lofty” a reach or may be undergoing cuts and change. At present, these organizations are actively seeking new, young recruits to help them renew their operations. I follow the UN on Twitter (@UN) and I see many appeals for young people to apply for positions in a variety of fascinating international positions. I recommend you visit the UN Career site and see for yourself.

You can build a resume online and set up notifications for positions that may be in your areas of interest. NGOs are also areas where one can start and develop and international career. And of course, you can also get weekly updates on the career section of FITT’s TradeReady blog.

The Federal and Provincial governments are in the same position and despite the current turmoil of the times – just like I experienced way back in 1979 – they will be seeking new, young recruits for a variety of internationally related functions and responsibilities. Visit their web sites and job postings and you may be surprised at what you find.

The time-tested methods of identifying where to start and then building your skill set and reputation still hold true today for those interested in working in a variety of careers with an international component.

If I may borrow a very powerful marketing message from an investment firm – “tomorrow begins today” to reinforce the notion that we all have the power to make our future, with thoughtful planning, positioning and a continuous improvement mindset in whatever we choose to do. This includes ultimately achieving one’s goal to follow a global career path.

Disclaimer: The opinions expressed in this article are those of the contributing author, and do not necessarily reflect those of the Forum for International Trade Training.
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Rest assured, trade will triumph over the Trump tariff tumult https://www.tradeready.ca/2018/topics/import-export-trade-management/rest-assured-trade-will-triumph-over-the-trump-tariff-tumult/ https://www.tradeready.ca/2018/topics/import-export-trade-management/rest-assured-trade-will-triumph-over-the-trump-tariff-tumult/#respond Sun, 09 Sep 2018 13:10:03 +0000 http://www.tradeready.ca/?p=26752 businessman pulling calm seas scene over stormy scene

Although crystal balls are rather fickle, fuzzy, and fragile, it is worth tuning in to the qualified insights of the moment and to consider what these messages portend for the immediate future of international trade, and Canada’s place within it.

In general terms, based upon my own experience in both government and business, I submit that the odds are very good for a tumultuous short-term (1-2 years) and a renewed and stable trade environment following on its heels.

Why does my future gazing suggest these general outcomes? More importantly, what actions could we take over the next few years to weather the choppy seas we face now and be ready to sail into the relative calm of the future?

We’ve been here before

First, it is instructive to remember that we have been through similar conditions before and have survived.

Trade spats with the U.S. are not new, and in some sectors like softwood lumber, have been going on for many years.

I remember some of our provincial negotiators lamenting during the initial FTA discussions that the U.S. team was impossible to work with, and eventually we sailed past that intransigence to an agreement that morphed into the NAFTA we know today. While current conditions are not exactly the same, there are similarities. What matters now is that we must get past the near term, and the near term does not look very stable or encouraging at all.

While I fully expect that the Trump tariffs will eventually be seen to be what they are – a tactic characteristic of a self-styled and questionable “negotiator” to gain leverage for his short-term economic objectives – they will cause short-term pain for everyone on the other side of the negotiating table.  That includes Canada (again) along with China, Europe, and any other nation that trades or dares to trade with the USA .

Second, we also need to consider the economic context in which we currently find ourselves.  In the corner of my crystal ball that focuses directly on likely economic outcomes for consumers and businesses in both countries, we will most likely see an inevitable increase in prices for traded goods that have been affected by the tariffs.

As most economists predicted, adjustments in pricing for anything that contains aluminum and steel would be the first to take place. These increases are now emerging in the market place – from the price of a milk truck tanker to a can of beer. Beyond these examples, the list of affected goods we use everyday will expand as each country retaliates with additional measures. Moreover, all of this is happening at a pivotal time in the current economic cycle.

Given that our economic expansion over the past several years is long in the tooth – and at this stage of the cycle employment tends to tighten and wage expectations rise in tandem – the specter of inflation looms large. We have already seen the numbers tick past the 2% benchmark set by the bank of Canada and the Federal Reserve in the U.S., prompting regular incremental rate increases. While the Bank of Canada’s recent pause in rate increases offer a short-term reprieve, further increases loom large.

Third, the good news is that even though we face these challenging near-term outcomes,

The world trading system has come too far, and become too sophisticated and intertwined, to be usurped by a rogue President who flouts the rules and patterns of the past 80 years.

Near-term forces, driven in part by the current trade wars and tariff fiascos, create the conditions for a perfect storm of economic consequences that will take the steam out of both our economies – and indeed other economies around the world. But, however trite it may sound, it will get better in the not-too-distant future.

Consequently, in order to reach the calmer seas that I foresee in my crystal ball, what actions could governments and businesses take to ensure we are ready to seize the opportunities that assuredly lie ahead in international trade?

Progressive trade developments are in the works with government support

Governments at all levels need to be judicious with respect to their current and short-term expenditures. As the rewards of the buoyant economy pour into their coffers, these funds should be conserved for possible stimulus if inflation takes hold, the economy temporarily tanks, and consumer spending and business investment stalls.

An instructive bellwether for such actions can be seen in current Chinese actions. The Middle Kingdom, well known for thinking in terms of centuries and millennia rather than short term circumstances, has already budgeted for extensive domestic and regional infrastructure projects to weather the coming storm. Infrastructure Canada, for example, is well positioned to take on such challenges. Should the need arise, it could deploy funds for significant infrastructure improvements (like the Gordie Howe Bridge and seaway/port improvements). Similar actions have the potential to have a positive impact on provincial as well as local jurisdictions and could facilitate trade.

The addition of a Minister for International Trade Diversification is an excellent move to bring more focus to the importance of, and support for, trade diversification. While Global Affairs Canada and provincial trade agencies have worked to promote and encourage businesses to look beyond the United States for trade opportunities, we remain too dependent as a trading nation on our southern neighbour.

Furthermore, promoting and highlighting the opportunities to be found in the 13 active trade agreements and numerous investment protection agreements with regions other than the U.S. will also be useful for our business community’s trade and investment orientation. The effort to strike trade and investment agreements with an additional 27 plus jurisdictions should also be stepped up.

Additionally, the prospect for improved domestic trade should not be ignored, and the failure of the provinces to address and eliminate interprovincial trade barriers is a national travesty. More fluid and open trade between domestic jurisdictions would assist many of our industry sectors to prosper, and in turn, grow into companies that become capable and emboldened global traders.

Businesses can drive positive change in the trade landscape

Even if the economy dips into a temporary funk, it is hoped that many businesses have learned lessons from past down turns. It appears that in many sectors there is a reticence to make additional investments and seek new business outside the North American cocoon. However, this is the time to seriously consider such actions.

Investing in capacity and trade diversification is especially important for those businesses who have done well as the economy has strengthened and saved some cash for the inevitable rainy days.

In the midst of economic calamities, lower cost opportunities for investments emerge. If such investments are coupled with a vision to scale up and take advantage of trade opportunities in markets other than the U.S., the time and effort spent will often result in diversified sources of sales and have lucrative outcomes on the bottom line.

Increased engagement with local MPs or MPPs, either directly or through local chambers of commerce should be pursued to stress the importance of reduced barriers to internal domestic trade. The assumption that a collective voice on this important matter falls upon deaf ears is misguided.  Pressure, strategically and continuously applied, is necessary to make an impact on lawmakers.

Businesses should explore the opportunities presented by aforementioned free trade agreements and a well-established global trading environment supported by sound international institutions like the WTO.

Take advantage of the many experts and resources at your disposal

There is no time like the present to conduct preliminary market research on regions that appear to be compatible with a business’s current product or service offering. This research should include the use of the extensive services and market reports provided by Global Affairs Canada. The trade consul services of GAC assist companies in investigating new markets, first from the comfort of their domestic base and then on the ground in selected target markets. It is one of the best in the world in quantifying and qualifying trade opportunities.

Trade experts in Canada and abroad can also assist companies with:

  • the clarification of foreign regulations affecting market entry
  • the identification of possible sales and distribution partners
  • alternate sources of cost-effective suppliers
  • appropriate trade shows to investigate
  • and timely trade missions to facilitate country specific business opportunities

Provincial trade departments and internationally based officers also offer a plethora of services to assist businesses in expanding their global footprint.

Crown corporations like EDC can also help businesses assess the risks they face and with a few well developed financial and insurance products. They can also help mitigate some of the more onerous risks that challenge companies in new markets and new customer relations.

Often various industry associations can be a conduit to these government services, and may also provide their own initiatives, support and assistance for foreign ventures.

Of course, the network of private trade professionals found within FITT’s network of CITPs can provide seasoned and experienced guidance and research services for businesses willing to tackle a new international market.

These are just a few of the actions that can be taken now. And despite possibly changing economic circumstances, once we emerge from the uncertain and tumultuous present, we will be well on our way to capitalizing on the opportunities that will continue to abound in the global marketplace.

Disclaimer: The opinions expressed in this article are those of the contributing author, and do not necessarily reflect those of the Forum for International Trade Training.
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