Delaware, the Eastern Gateway to the US - Show #101

Carla Sydney Stone is President of the World Trade Center Delaware, which champions international opportunity through cultural programs, training in logistics and financing, and helps with market research. Its services include finding and evaluating trade leads, direction in hiring oversees, finding partner organizations and agencies, trade missions, and facilitating conferences and exhibits.    An engineer at heart, Stone’s career originated in geophysics and mining, about which she says: “Minerals flunk geography, making it an international industry.” From there she traveled the world; she has been to every continent except Antarctica (which is on her to-do list) then segued into banking, where engineers are essential for proper industry valuations, and ultimately landing in technical assistance to the “alphabet soup of [government] agencies” and academia.    Just prior to the WTC Delaware, Stone found herself at the intersection of engineering and public health (water, energy, avian influenza, telemedicine). Her work with NATO introduced   telemedicine into rural and remote areas of several countries.    The WTC Delaware has ushered a countless number of businesses onto the international stage. Why should companies export? “To start, over 95% of consumers live outside the US,” says Stone. In addition, companies that export are more stable, riding out downturns in the economy better due to customer diversity. They can also easily adjust by way of foreign exchange, leveraging exchange rates and seasonal business, for instance.    A good example is Delaware’s Port of Wilmington, which is not only the largest banana port but also brings to the US produce from around the world. It boasts the largest cold storage and fumigation capacities in the US and organizes its import/export relationships seasonally. Companies that export have a “variety of places to buy and sell. In addition, these businesses are more profitable, stay in business longer, and pay employees more.”    Stone recommends that companies expanding into new countries “read, read, read.” For countries with diaspora communities, don’t be afraid to call related organizations for help with inroads; build relationships with anyone with feet in both communities.     Know that culturally, even gestures can get lost in translation and can affect a meeting insofar as its pacing, attendee reactions, etc. In Bulgaria, for instance, tilting your head left and right means “yes,” a nod up and down, “no.” “Many countries say ‘we will only do business with our friends,’” says Stone, “so relationship-building is essential.”    Links:  www.wtcde.com  https://www.portofwilmington.com/  Connect with Wendy - https://www.linkedin.com/in/wendypease/  Connect with Carla -  https://www.linkedin.com/in/carlasstone/  Music: Fiddle-De-Dee by Shane Ivers - https://www.silvermansound.com