World Trade Center Miami
The World Trade Center Miami (worldtrade.org), a member of the World Trade Centers Association and Florida’s oldest international organization, fosters international business opportunities for member companies.
Charlotte Gallogly is president of World Trade Center Miami and a director of the World Trade Centers Association.
We caught up with her on the day she returned from a China trip. Eventually, she said, the World Trade Centers Association aims to have 75 to 100 World Trade Centers in China. Q. How did you start in international business?
My mom’s love of “faraway places with strange-sounding names” sparked my interest in international business. It was a way to travel globally and meet people from many cultures. Q. Tell us about your international ventures?
I have had the opportunity to do business in three markets. Given my interest in women’s rights and responsibilities, I often have chosen to work with women-owned businesses to help them grow their businesses. In Asia, I was involved in high-end Asian garments. I also represented makers of heavy-duty equipment from around the world. I was the intermediary and matched up markets and manu- facturers.
Q. What’s the best advice you can give a small-business person who wants to go international?
Do your research and format it into a business plan. There is no substitute or shortcut for preparing the plan and doing the job right. Also, it is important to prepare a good financial plan with two years’ cash flow to assure that ventures will be successful when the moment comes to fork out more cash. It is important to have two years of revenue available if at all possible.
Q. What’s the best preparation for someone who wants to make the world their marketplace?
Determine your business (product/market interests) and then travel to trade fairs in those countries to determine the viability and the market interest in your products. Also, work in the industries to gain experience to ease your transition to becoming an entrepreneur.Q. What services does the World Trade Center offer?
Our mission is to initiate and support projects designed to increase two-way trade and promote Miami as the “Trade and Logistics Capital of the Americas.’’ We conduct trade shows where exhibitors have reported over $235 million in actual and reported sales as well as organize major events such as the State of the Ports [25th anniversary] luncheon, International Women’s Day Awards [held last week] and World Trade Week annually.Q. What are the most unusual things you’ve helped people export?
Medical devices and work boots. We were engaged by the Florida prison system to see if the steel-tipped work boots that prisoners made would be competitive on the world market. We found it was cheaper to buy work boots made in Korea than those made by the prisoners. Also, there wasn’t the assurance that the prison system would be able to meet orders on a timely basis. For these reasons, we recommended they not export.Q. Is there a characteristic that all successful international businesses share?
Great problem-solving skills and drive, passion and commitment and going the distance and beyond.Q. What markets currently offer the best prospects for South Florida exporters?
The Western Hemisphere is No. 1 for Miami and U.S.-based businesses — in particular, Colombia, Chile [fairly new] and Peru, where the U.S. has new free-trade agreements. Q. What is on the horizon for the World Trade Center?
We are engaged with the Port of Miami in developing a new World Trade Center complex for the port to increase two-way trade. The activity is designed to increase trade, generate new business starts and expand and generate more jobs.
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