Export Management

TAKING BUSINESS ABROAD

 

 

Why Export?

  • More than 90% of the world’s consumers live outside of the United States.
  • Expand customer base by opening new markets for products
  • Mitigate the risk of local market downturns.
  • Free Trade Agreements between several countries make doing business abroad easier and more reliable.
  • Explore the desire for foreign brands in international markets.
  • Reduce the chance of being left behind by competitors that expand abroad.

 

 

Which Countries?

While there are many options, we recommend stating the search identifying countries with which your government have trade agreements, as these ideally represents markets where doing business is relatively seamless.  From there, prioritize countries that have stable governments and high ratings in published “ease of doing business” reports.

Which Markets?

Once the ideal markets are identified, the search begins for the right markets to target.  The process here is very similar to conducting it in your local market (reference market research section).  However, you will need to expand the process a bit to account variables uniques to those markets.  Your local government likely offers a plethora of research on foreign markets.

Connecting to Buyers

When its time to move on to finding the right buyer the process, again, is similar to what you would do in the local market – i.e., understanding your quantified value, connecting it to the needs of prospective customers, and crafting messaging that resonates with them. 

In communicating with customers, there are several methods with which to connect.  One of the easiest is working through government agencies dedicated to assisting exporters.  Direct communications work as well and can be equally effective.

What about Logistics?

This can be one of the most complex and uncertain elements of conducting business internationally.  Getting products from the point of origin to destinations abroad requires a well-planned and skilled network of professionals to ensure products arrive where they are supposed to be within agreed-to time frames.  Missteps in this process can lead to costly delays and damaged business relationships.  We recommend working with qualified experts in this field with a history of good performance.

Getting Financing

Financing buying and selling can be a high risk element of doing business abroad.  Mitigating the risk begins with seeking out markets and potential partners that have been vetted by trusted parties (like government agencies).  Additionally, most governments have institutions like the U.S.-based Export-Import Bank that have the charge of assisting in financing and facilitating the exports of goods and services.