What do I need to know before exporting?
First of all you should start by developing export strategy. In order to do so you must understand your business model, know your product, define your perfect customer, think about desired export target markets. If you have enough human and financial resources, production capacity and a competitive product, you are on the path of successful export. Depending on your product, local import regulations and certification needs specifically to the product or service should be reviewed.
What is the first step in exporting?
Assess export potential of your products or services, identify and research desired export target markets, consider best export strategy for foreign market entry.
Why is exporting important for a business?
Export is a great way to expand company’s sales and to promote faster growth of the business. It is a way to access more new clients, expand production, create more jobs and generate bigger turnover and income.
How can I sell in international markets?
There are several market entry strategies commonly used to start export to foreign markets – selling directly to customers; using a representative in the target market; building strategic partnership with a local company already operating in the market. It is up to your business model which is the most suitable strategy to apply.
How can I find possible foreign distributors/importers/sales reps/buyers/agents?
There are many databases available online which provide lists of companies across the globe. Some are available for free; however, some require a fee. Another option is to conduct a search in internet without using databases. Doing a search online is a time-consuming process. In many cases companies find partners by participation in industry related exhibitions, however, it is a costly process.
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How can I learn more about the sales potential of my product or service in international markets?
Through doing a market research about the industry you are working in. It will let you to understand market trends, industry situation in various countries, and where your product has a potential to be successfully adapted by local customers.
How can I find sales leads in foreign markets?
It depends on the market entry strategy you apply to start export activities. In most cases it requires a long list of companies in the target market which are suitable potential cooperation partners and cold calls to generate sales leads.
Who should I contact to discuss potential cooperation in a foreign company?
You should always try to reach the decision maker who is responsible for new cooperations in the company. It depends on each company’s internal organizations which person is in charge – the director, the purchasing manager, or someone else