I recently watched Robert Peston's programme about how to restart and redesign Britain's economy, and one of the few exhortations on which economists, journalists and government ministers could all agree was: 'increase your exports'. Needless to say, that is easier said than done.
First, you have to find something that other countries will want. Burberry and Rolls Royce are positive examples there, but do you see the Chinese investing in massive contracts for advertising, PR or financial services, all the things that the British are renowned for?
Secondly, you need to invest in the bright young minds that will create those future products and services that people will want worldwide, as well as in the small businesses that are perhaps, just perhaps the big businesses of the future. You have to think long-term to reap long-term benefits.
Thirdly (and this is the point where Robert Peston only skimmed on the surface, whether deliberately or not, I have no way of knowing), you have to prepare yourself mentally for the challenge of dealing with foreign partners, unusual ways of negotiating, different ways of interpreting relationships and contracts. Not everyone does business as it is done in Britain (or the US, and we won't even mention the differences between the two). But instead of expecting the world to come round to the Anglo-Saxon model of doing business, British businesses need to be open, curious, eager to learn from others and show an interest in differences.
The recent brouhaha about Britain's place in Europe shows perhaps what happens to that child in the playground who is reluctant to join in any of the groups or argue with the others, and therefore never learns to build alliances, to make compromises and to be heard. When you are perceived as aloof, you may gain some grudging respect from the others, but there will be little sympathy or building of relationships. And in most other cultures, these form the foundations for a successful business agreement.
Next week I will explore some possible solutions for 'educating' both yourself and your potential partners abroad. For now, I would love to hear your views and stories about export successes and failures.
