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Step-by-Step To Exporting Your Business
Transcript of Step-by-Step To Exporting Your Business
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.
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.
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).
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
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
Spread your business
Improve ROI on R&D
What are the challenges?
Level of commitment
Long term commitment
Language and cultural barriers
How to determine if
you are ready?
Think about the knowledge and resources your business already has and consider:
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
Analyze the export potential of your products
Consider the following:
Develop your export plan
Why is planning important?
The foundation: Your business plan
Business Model Canvas
Building on your foundation: Your Export Plan
Products and services
Market overview and
Regulatory and logistical issues
Identify your target market
Understanding international market research
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.
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.
U.S. Department of Commerce
SALT LAKE CHAMBER OF COMMERCE
ITC Market Analysis Tools
Foundations of Business Strategy
(Starts June 16th, 2014)
Develop your export marketing strategy
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
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?
The many P's of international marketing
– how complex are international transactions?
– does your staff have the necessary skills?
– have you planned your business, market, account and sales calls?
– have you completed all the required documentation?
– have you considered differences in cultural and business practices?
– have you selected a partner to create a stronger
– what are your current and planned policies?
– how will you be perceived in the market?
– have you assessed the risks and taken steps to protect your company and its intellectual property?
Source: Forum for International Trade Training, Going Global
Currency exchange rates and fluctuations
International postage, cable and telephone rates
Commissions, training charges and other costs involving foreign representatives
Consultants and freight forwarders
Product or service modification and special packaging
Full Cost-Based Pricing
Refers to :
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:
Market Entry Options
Acquisition and Investments
Your marketing plan is a work in progress that you will have to modify continuously.
Selecting the right intermediary:
Size of sales force
Facilities and equipment
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:
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.
Consider the following:
Special packing or marking list
Certificate of origin
Certificate of insurance
Bill of lading
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
Where to get financial help?
Methods of collecting payment
Cash in advance
Letters of credit
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
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?
The technical side of E-business
Shipping and documentation
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
Canadian Trade commissioner service
International Trade Centre
World Trade Organization
The Institute of Export