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Step-by-Step To Exporting Your Business

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Aurora Méndez

on 24 May 2014

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Transcript of Step-by-Step To Exporting Your Business

Step-by-Step Process To Exporting Your Business
Export Myth
Exporting is too complicated!!

Tip: Remember, you don't have to do everything yourself. Outside experts can represent you, find overseas customers, manage sales orders, handle paperwork and deliver the goods.

Export Myth
I will lose control of my company/product if I use intermediaries.

Tip: Taking part in Global Supply Chains increases a company´s profitability and competitiveness.

Export Myth
It is hard for SME´s to obtain aid from financial institutions.

Tip: Almost 93% of the financial aid provided to firms goes to SME´s around the world (WTO).

Steps
1.- Determine if you are ready

2.- Analyze the export potential of your products

3.- Develop your export plan

4.- Identify your target market

5.- Develop your export marketing strategy

6.- Strategies to enter the target market

7.- Deliver the goods

8.- Identify your Export Financing Requirements

9.- Understand the Legal requirements

10.- Sell online: e-Business

Aurora Méndez
May 28th, 2014

Improve your productivity

Why should I Export?
Increase revenue and profitability
Increase the life of your products
Boost your profile and recognition at home and overseas
Increase levels of
growth
Greater economies
of scale
Spread your business
risk
Improve ROI on R&D
What are the challenges?
Level of commitment
Increased costs
Long term commitment
Language and cultural barriers
Paperwork
Availability
Competitors

How to determine if
you are ready?
Think about the knowledge and resources your business already has and consider:

HR
Legal
Operational
Expectations
Competitiveness
I´m too small to be an exporter

Tip: special events like seminars and business breakfasts can be excellent opportunities to profit from other people´s experience with exporting

Export Myth
Analyze the export potential of your products

Consider the following:
Customer
Profiles
Product
Modifications
Capacity
Transportation
Local
representation
Export Quiz
Develop your export plan

Why is planning important?
The foundation: Your business plan
Business Model Canvas
Source: http://www.businessmodelgeneration.com/canvas

https://www.udacity.com/course/ep245

Building on your foundation: Your Export Plan
Organization
Products and services
Market overview and
entry strategy
Regulatory and logistical issues
Risk factors
Financial plan
Implementation plan
Identify your target market
Understanding international market research

First
Then
Finally
Screen potential markets
Collect statistics related to your sector that show product or service exports to various countries.

Identify five to 10 large and fast-growing markets for your product or service. Select some smaller emerging markets that may not have as many competitors as an established market.

Target three to five of the most promising markets for further study.

Asses target markets
Examine trends that could influence demand for your product or service.

Study the competition, both domestic and non-domestic.

Identify any foreign barriers (tariff or non-tariff) for the product or service.

Search for federal or foreign government incentives to promote the export of the product or service.
Draw conclusions
In general, one or two countries are usually enough to start with.

Discuss with your team pros and cons.

Share your conclusions with an expert.
Process
U.S. EXPERTS:

U.S. Department of Commerce
SALT LAKE CHAMBER OF COMMERCE
WTC Utah
GOED
Utah SBDC
OPIC

INTERNATIONAL Experts:
ITC Market Analysis Tools
http://www.intracen.org/Itc/market-info-tools/overview/

Online courses:
Foundations of Business Strategy
https://www.coursera.org/course/strategy101
(Starts June 16th, 2014)

Resources
Develop your export marketing strategy

Marketing Plans
What are the characteristics of your target market?

How do your competitors approach the market?

What is the best promotional strategy to use?

How should you adapt your existing marketing materials, or even your product or service?

A good marketing plan should be built around your research and answer the following questions

Marketing Mix
Product -– what is your product or service and how must it be adapted to the market?

Promotion - how will you make your customers aware of your product or service?

Price - what pricing strategy will you use?

Place - how and where will you deliver or distribute your product or service?

Target
Market
The many P's of international marketing
1.-
Payment
 – how complex are international transactions?
2.-
Personnel 
– does your staff have the necessary skills?
3.-
Planning
 – have you planned your business, market, account and sales calls?
4.-
Paperwork 
– have you completed all the required documentation?
5.-
Practices
 – have you considered differences in cultural and business practices?
6.-
Partnerships
 – have you selected a partner to create a stronger
market presence?
7.-
Policies 
– what are your current and planned policies?
8.-
Positioning
 – how will you be perceived in the market?
9.-
Protection 
– have you assessed the risks and taken steps to protect your company and its intellectual property?

Source: Forum for International Trade Training, Going Global

Setting Prices
Currency exchange rates and fluctuations
Receivables/risk insurance
International postage, cable and telephone rates
Translation costs
Commissions, training charges and other costs involving foreign representatives
Consultants and freight forwarders
Product or service modification and special packaging
Flexible Pricing
Marginal Cost
Penetration Pricing
Market Skimming
Static Pricing
Full Cost-Based Pricing
Pricing Strategies

Refers to :
Advertising 
Promotional materials
Direct mail 
Media 
Personal visits 
Trade shows 
Internet
Promotion
Tools:
Business cards
Brochures
Customer testimonials
News articles
Videos
Website
How to enter the target market?

How is business conducted in your target market and industry sector?
What are your company´s export strengths and weaknesses?
What is your company´s financial capacity?
What products or services are you planning to export?
How much service and after sales support will your customers require?
What trade agreements or barriers apply to your target market?
Some factors to consider:
Entry Strategy

Market Entry Options
Direct Export
Indirect Exports
Acquisition and Investments
Partnerships
Licensing
Franchising
Cross-licensing
Cross-manufacturing
Co-markting
Co-production
Joint venture

Your marketing plan is a work in progress that you will have to modify continuously.
Selecting the right intermediary:

Size of sales force
Sales records
Territorial analysis
Product mix
Facilities and equipment
Marketing policies
Customer profile
Promotional Thrust

Evaluating the use of Intermediaries
Delivering the goods
Exports declaration: Electronic Export Information (EEI) filing is generally required by the U.S. Census Bureau for U.S. exports that contain a single commodity's value exceeding US$2,500.00.

Exports permit: check with your country if needed.

Delivering the products: truck, rail, air, ocean.

Determine the incoterm http:
//www.iccwbo.org/products-and-services/trade-facilitation/incoterms-2010/

Freight forwarders and brokers: will help you improve your delivery times and customer service.

Packing your goods: Pack them to survive rough-and-ready cargo handlers and poor roads

Labels and marks: labelling regulations vary widely from nation to nation, so verify the required labels before you ship.

Transportation insurance.

Consider the following:
Shipping documents:

Commercial invoice

Special packing or marking list

Certificate of origin

Certificate of insurance

Bill of lading

Documentation
Collection documents:

Certificates of origin

Certificates of inspection, used to ensure that goods are free from defect

Import and export licences as required (for example, a NAFTA certificate of origin)

Identify your Export Financing Requirements

Understanding the risks of export financing

Capital leverage

Where to get financial help?

Methods of collecting payment

Cash in advance
Letters of credit
Documentary credit
Documentary collection
Open account

Understand the Legal Requirements

Understanding international contracts
Understanding the "proper law"
Contracts for the sale of goods
Contracts for the sale of services
Negotiating in other business cultures
Corporate Social Responsibility
Meeting international standards
Protecting intellectual property rights
Resolving dispute
s

Selling online
e-Business:
Your IT resources –

Your management –

Your personnel –

Your customers –


Assessing your e-business potential
Your competition –

Your suppliers –

Your profitability –
What to consider if you are ready?
Localization

The technical side of E-business

Finding e-leads

Checking e-leads

Shipping and documentation

e-Payments

Supporting your online customers

Talk to experts and outsource the tasks you cannot do on your own

Establish long-lasting relationships with local distributors

Focuse on a single market

Allocate staff to monitor the export activity

Do not rule out the possibility of producing in the target market

Set a realistic, measurable and achievable goal
Conclusion
Thank you!
Aurora Méndez
auroramndz4@gmail.com
(385) 2595681
Canadian Trade commissioner service

https://www.tradecommissioner.gc.ca/

International Trade Centre

www.intracen.org

World Trade Organization
www.wto.org

The Institute of Export

http://www.export.org.uk/

Going Global
http://www.fitt.ca/going-global
Sources:
Full transcript