Michael Bernstein, president and CEO of Capstone Infrastructure Corp., won the PROFIT 500 Export Excellence Award for growing his company’s foreign sales by 8,661% over five years. So, it’s no surprise that he thinks working in foreign markets is a good strategy. “Canadians are too timid in looking at overseas opportunities,” says Bernstein.
Easier said than done. How did Capstone do it? Bernstein credits some of the company’s success with finding the right partners. Capstone built up its relationships over a number of years. They’ve also made inroads in new markets through M&As, though he cautions that any SME looking to merge or acquire should do its due diligence first. Make sure you’ve got the right cultural, strategic and financial fit with your prospective partner. You may not have boots on the ground in the foreign country you’re selling to, so having the right local partners is crucial.
PROFIT sat down with Bernstein to talk about achieving export excellence. Watch the full video below.
Want more secrets to CEO success? Watch these short videos taken at the PROFIT 500 CEO Summit: