Every week we provide our readers with the 5 tips of the week. This week we’ve decided to provide you with several tips about the exporting; they should help you to decide whether exporting your products is something your business requires.
Here we go, 5 tips on Product Export:
- Are you established in your own area? Before getting into exporting you have to think strategically and logically. The reasons why many export are: it is very competitive in their own land, they’ve capture the majority of their own land, they have an ability to produce in big quantities, they have an ability to produce at much cheaper price and many other reasons. All the named reasons are good for anyone who is already established in their own area. Therefore before thinking about the export think if you have any of those factors and can meet large enough quantities to export. However, if you have a good connection at the place where you want to export, research first if your product is needed.
- Exporting is a very risk taking practice. You have to realize that fact and research if you want to get into exporting. In addition, exporting might dramatically influence on the core ideas and beliefs that you had about your business and the ways you though you want to develop your organization. In addition exporting takes lots of time to establish all needed relationships and find the right people.
- Market research. All successful exporters have done a successful and full exporting research on the target market where they’ve decided to export. You can’t just assume that someone from another county would love your product just because it came from outside of the county. You have to really get into the heads of the consumer from the targeted export place. You have to realize that their needs, wishes and wants will be different and sometimes drastically different from what you are used to, therefore your product has to accommodate their needs, not yours and not the market’s that you are coming from.
- Culture and cultural differences. As stated above research should help you outline and predict the cultural differences and the tastes of the potential consumers. Although it is the best way to spend some time living in the actual culture to grasp all the needed habits, most of the time small-medium businesses don’t have enough resources to conduct such a full research. However, with the help of internet and many business websites especially those provided by the government, you should be able to find all the needed data.
- Decreasing costs. When exporting there are always costs of travel, communication costs and etc. There are several ways to decrease those. For example, instead of flying in every time for the meeting you can arrange virtual office and instead of using long distance you can use Skype as solution and chat through the Internet and your computer.