14 Apr What should I consider before making the decision to begin exporting?
Did you know that you don’t need to actually export your product yourself? You can choose to export products yourself, or fill orders for domestic buyers. A good example of this is export trading companies that then export the product.
However you choose to export, it is extremely important to create an export strategy. A detailed and thorough strategy is integral to a successful planning process. Here are some things that you should note:
- Evaluate the export potential of your product
- Determine whether you are really willing to make a commitment to exporting to regional or international markets.
- Evaluate whether your product is actually ‘export ready’
- Identify key foreign markets for your products. This is possible through conducting market research
- Evaluate distribution and promotional options. Establish an overseas distribution system
- Determine export prices, payment terms, methods, and techniques
- Become familiar with shipping methods, export documentation procedures, export financing, and other requirements for exporting