Episode 231: The Power of Pivoting with Marc Portney

Mark Portney is an American entrepreneur, investor, and business advisor with over 30 years of experience. As the president of Globalsource Infrastructure Partners, he leads the international player in product development, manufacturing, and sales, bringing new products to market. His street-smart insights, body of contacts, and expert knowledge of the retail landscape enable him to lead the company and its affiliates from concept to store shelf.   In addition to his work with Globalsource Infrastructure Partners, Portney heads a group of venture capitalists who participate in any size deal that he feels is worthy. He was also chosen as host and resident investor on Disney Science Channel's show All American Makers in 2014.     OVERCOMING SUPPLY CHAIN ISSUES Marc's company, Globalsource Infrastructure Partners, is a sourcing outfit that develops products, packaging, and prototypes for inventors and entrepreneurs. They have factory relationships and a payroll in China, allowing them to develop and source goods at the least expensive way possible while protecting them from getting into the wrong hands. They also take care of the shipping, customs, and duties, giving clients a delivery duty paid price right to their back door.     PIVOTING YOUR BUSINESS MODEL TO THE MARKET’S NEEDS Sometimes in business, you’re given two choices: Adapt to a changing market, or drown. While Marc was fortunate to have a company with clients who did well during the COVID-19 Pandemic, Marc’s business was no different from other businesses, and he still needed to make changes to adapt to the market in order to survive.   The supply chain industry has faced numerous challenges in recent years, largely due to unforeseen global events and disruptions. In response to these difficulties, Marc's company made the strategic decision to pivot and adapt their business model. This innovative approach involved offering a comprehensive door-to-door service for their clients, enabling them to focus on their core business while the company took care of all the intricacies of product-sourcing, shipping, and customs clearance. By doing so, Marc's company aimed to simplify the process and minimize potential bottlenecks, ensuring that their clients' goods could be transported efficiently and without unnecessary delays.     GETTING THROUGH TO THE OTHER SIDE Marc's company has experienced resounding success with their new business model, providing a stress-free and seamless solution for clients looking to bring products to market. This innovative approach has allowed the company to carve out a niche in the industry, attracting a loyal customer base that appreciates the convenience and peace of mind offered by this comprehensive service. Clients can now concentrate on product development and marketing while the company expertly handles the complexities of international trade.   This one-stop service has not only strengthened the company's reputation but has also been instrumental in helping clients overcome the challenges of the current supply chain environment. By expertly navigating these complexities, Marc's company has played a significant role in ensuring their clients' success. This has positioned the company as a valuable partner in a rapidly evolving industry, enabling them to continue thriving in an increasingly competitive market.       FOR MORE ON MARC PORTNEY:https://www.linkedin.com/in/marcportney/www.globalsourceip.com Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.   If you want to find out how deal-ready you are, take the Deal-Ready Assessment today!