Starting with Export: The first steps
Export can be the difference between surviving and being successful. It is proven that exporting companies are more successful than companies that sell only to the local market. Export will not only expand your market, it lowers the risk and expands market share. During times of financial crisis export can be crucial for the survival of your company. If you can spread the risk over more markets it makes you less vulnerable for economic crises.
Starting with export is not easy, it is a challenge. Besides the market differences, the laws, competition, culture, language, currency, etc. are different. You need to be prepared before you start selling abroad.
Export is a strategy. You don’t wake up in the morning and think “today I’m going to export”. You need to do proper research and know you priorities. Developing an export plan will help you identify your export strategy. For more information about strategy read our blog post ‘4 successful export strategies from gateway Aruba’.
Developing an export plan will help you keep your focus. Many things will come your way and you need to avoid the obstacles. With an export plan you can reach your goals more effectively. Before you start you need to explore your opportunities, search for the right (country) information and talk with partners and/or distributors.
Like running a business, export is not free of risk. You can’t fly over for every late payment. A good plan can help you to reduce the inherent risks.
A few critical questions are important before you start to export:
– Why do you want to start exporting?
– What is your goal?
– What are your abilities?
Your company is the basis for export. Knowing your company, the strengths and weaknesses is essential for making a successful start. Does your company have the capacity to expand? Are you employees able to speak different languages? Is your marketing mix accurate? Do you have sufficient capital? Answering these questions is essential for making export a success.
Besides finding profitable markets for your products, a strategic location for your company is also essential for a successful export business. Maybe Aruba can take a few concerns away. The strategic location, multilingual population, knowledge of cultures, etc. could be important factors for your company.
In the next blog posts we will explain more about starting to export. Keep connected if you want to know more about how to choose an export market or find the right export partner.
If you have any questions or comments don’t hesitate to contact one of our team members.