Using the Weak Dollar to Grow Sales and Expand Market Reach

Sure, it's tough to admit it when your country's currency is not as strong as competitive currencies. However, small businesses would be wise to create a competitive advantage out of the Dollar's weakness. There is a fair amount of talk these days about the Dollar's weakness relative to other world currencies, most notably the Euro and the Pound. Most of that talk seems to have a tone of concern, sometimes stopping just short of despair. Unless you have huge sums of dollars that need to be converted into euros, then you really don't have too much to be worried about. To hear some people talk, one might actually think the sky is falling. Question: What should you do if the sky is falling? Answer: Sell umbrellas!! Smart companies will use the weak Dollar as an opportunity to build fresh relationships and generate new sales channels in previously untapped geographies. Small- and medium-size enterprises (SMEs) would do well to adapt a pro-active strategy now to penetrate foreign markets. Strike while the iron is hot (or the dollar is low). A receptive European audience awaits just about any U.S. company who has a good widget for sale. Let's take a look at some facts. The Euro was released as a currency on 01 January 2002. On that day one dollar would buy you