Every body with a product or service can export, or at least attempt to export. But nobody sure of success . At the best of times exporting can be a complex and challenging process. Yet, when it is approached with careful deliberation, exporting can be a rewarding growth strategy for any business. Here are ten key steps to take your export operation from start to success:
1. Make an exporting contract.
Whether you own a sole proprietorship offering consulting services or manage a 1000-person manufacturing facility, exporting offers you opportunities for growth, increased sales and different markets. But a marketable product or service is only the beginning.
Exporting takes time and hard work. It also takes resources and a strong commitment to compete beyond your current borders. If you are focused and have assessed your product or service to enter the global marketplace, you are ready for the next step.
2. Plan, plan, plan and Plan.
The secret to export success is preparation and a carefully researched export plan. This is your source of direction as you begin on your journey into foreign markets. An export plan helps you to act to the challenges and face risks in international business. And in addition to helping you implement your export strategy, it can help you obtain financial assistance, investors or other strategic partners required to make your export venture a success.
* An export plan contains many elements:
* A description of your company, its market and industry, and your business objectives.
* An information on your products or services.
* An analysis of the target market and industry, including trends and forecasts.
* An examination of the competition and their strengths and weaknesses in contrast to your own.
* An international marketing strategies, including customer profiling and the development of sales and distribution channels.
* An employment and training issues.
* The financial requirements and forecasts, and much more.
3. Manage your research to find the right market.
Thorough market research helps you make your export marketing decisions by giving you a clear picture of the economic, political and cultural factors that makes you able to sell your product or service. Ultimately, market research saves you time, money and effort by reducing your chances to unknowns.
There are two main types of market research.
Secondary market research consists of information collection from published sources (books, newspapers, market reports, studies, and periodicals) and the Internet. Researchers will find trade statistics, market and industry information, even potential partners and trade leads. Secondary research helps you to filter your information needs.
Primary market research helps you fill in the hard times through direct contact with key experts, customers or other sources of information. Primary research always contains personal contact strategies such as interviews and consultations and is best attempted after you have familiarized yourself with the potential market through your secondary research efforts.
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