So, you think you are ready to export. Well, there are a number of things to think about when preparing to export. Look at these sections to help you prepare for your exporting venture.
Deciding Where to Trade. Choosing the right market for your product or service is the hardest step. Due to the financial and time commitment necessary to enter an export market, you need to be sure you are choosing the right market. Here you can get market reports and intelligence to help make this important decision.
Selling to Your Distant Customers. Developing a marketing strategy will summarize what you know about your industry, your competitors, and your customers. It will outline your plans for marketing, sales, pricing, and promotion in your new export market and the best way of getting your product into the market and distributing it there. Will you sell directly to your customers, through a distributor, or even through a partnership with a foreign company?
Visiting Your Market. It’s important to visit your market, whether it’s for research, to attend an industry show, or to meet a potential client. Here you’ll find a number of programs and tips to help you make the most of your visit.
Delivering Your Product or Service. Depending on what you’re exporting and where you are exporting to, the regulations for getting your product or service into the foreign market will be different. Some of these regulations, such as packaging, labeling, and required documentation on your export goods, may help determine the method you choose to ship your product and whether you will use a freight forwarder or broker. Getting your product there on time and at the right cost will be vital to your exporting success,
Planning Your Export Financing. The costs of exporting can add up for a company of any size. Being prepared by planning ahead can make or break your exporting venture. There are many important things to understand about export financing and a number of organizations are available to assist with various financing options that can minimize your risk and give your company the competitive edge.
Protecting Yourself (The Legal Side of Trade). Once you’ve sold a product or service, you will be entering into a contract. International trade contractual agreements are prone to more complications than domestic ones. Understanding different cultural and business practices can help reduce the number of disputes. Finding a legal professional who specializes in international trade can also be a wise investment.