Posted in Expanding Abroad 101.

Where to begin?

Written by William K. (Bill) Hite on .

For some time I have wanted to start this blog but until now did not find the right forum. Also, and many of you who know me will agree with this, I am not much of a writer, yet I view this blog as a way of sharing my experiences in working in an international environment.

At university my first interest in international business developed. I even wrote a paper during my senior year focusing on FAS 52 (this sounds really geeky, I know) but at the time I had no idea I would actually be in a position to where I could use this information. Especially to the extent that I have. So, 24+ years later, here I am in this world called internet and its venue offers me the opportunity to share my experiences. I hope you at least walk away from each new posting learning one new thing.

"Where to begin?"

This was the first question that came to my mind in 1996 when my boss, the CFO of ON Technology, said to me:

"Hite, we are about to buy Technocom Plc, a major distributor. Get with Shealy and figure out what we need to do to ensure we meet our 10Q deadline. Oh, and fly over there and figure out what they are doing".

This was classic John - throw Hite in the deep end to see if he swims. This was our first effort in expanding abroad after a successful IPO in 1995. We had no idea of how to integrate the two reporting entities, not to mention how to do it between a US and UK Company with two different reporting rules and reporting cultures. The next 2 years would be life changing for me. We soon opened offices in Paris, Munich, and Sydney. At an early phase of my career I was faced with the basic questions that Hull Speed Associates, the company I founded and manage, now solves.

What legal entity is best for us? How do we organize and pay payroll? How do we accurately report monthly and how do we pay expenses?

I am really excited about this blog as I know those of you reading it all have or have had these questions and more. I welcome your feedback and for you to share your own experiences.

Regards,
Bill

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