Adrian LaTrace has more than 25 years of varied experience in entrepreneurship. With varied work in start-ups and corporations, LaTrace has spent his career in growing sectors such as healthcare, renewable energy and aerospace.
In January 2016, as the Chief Executive Officer and relatively new owner of Boyd Industries, Inc., LaTrace was working on making the company a world-class global market leader in the dental equipment industry.
“I found that the dental industry is a very stable industry in our economy,” he said. “Aside from that, Boyd had a great track record and reputation as the premiere manufacturer of dental chairs, delivery systems and other accessories that go into dental offices.”
While Boyd Industries had ventured into international market occasionally, LaTrace knew there was potential to do more. That’s when he started reaching out for local resources.
“I was referred by our local Pinellas County Economic Development group,” he said of starting to work with the Florida SBDC at University of South Florida. “Then I began to work with the SBDC, who in turn, pulled in other resources that can help Boyd Industries with our expansion plans.”
In June 2016, a team of consultants, who are all Certified Global Business Professionals, started work on developing an Export Marketing Plan for Boyd Industries. This service, provided in partnership with Enterprise Florida, provides small businesses the opportunity to learn about potential markets that suit their industry.
“For a small business, rather than spending resources and money just to experiment in international markets, the SBDC Export Marketing Plan gives us a much more defined focus as to what countries will provide us the best benefit,” LaTrace said. “[It] has provided us a roadmap for how to manage our expansion plans internationally.”
Boyd Industries has been on a multi-year plan to prepare for expanding into international markets. Behind the scenes, representatives of the company worked to put processes in place that can manage accounting and manufacturing processes worldwide. In addition, they’ve updated their quality management system to successfully complete the certification audit for the international quality standard, ISO 13485:2016.
With the Export Marketing Plan now in-hand, Boyd Industries has a better chance of being successful in exporting to multiple international markets.