Guide to Going International

Any business, be it export begins with a fundamental proposition: CUSTOMERS. To find customers, you need to know where people and businesses are located that can benefit from your company's offerings.

While this seems pretty obvious to everyone, it's generally overlooked by most export businesses. Maybe because exporting seems hard to them, especially when it's something they haven't done before.

While nothing comes free of challenges, there are some standard steps to be followed to become a successful exporter.

You want to become a master in exports?

Let me tell you if you don't know, there are many institutes which are providing export import training and help you in your export business. You can go there an learn the perfect export procedure.

First Let’s Learn Some Benefits of Going International

•  Continued growth for your business once it has mastered the domestic market
• Opportunity to grow your company’s brand
• Increased sales potential from selling your product/service in new markets
• Reduced dependence on sales from within your domestic market
• Access to new technological, financial and human resources
• Opportunity to compete against foreign multinationals
• Greater knowledge of foreign culture
• Possibility of taking some of what you’ve learned from foreign markets and applying it domestically
• Opportunity to remedy decreases in sales from seasonal cycles by tapping into other markets with contrasting fluctuations

Key Questions to Ask Before Going International

•  Does the business have solid enough domestic foundation to afford going global?
• Would it be easier and cheaper to just expand your company’s online presence?
• Is the infrastructure of the target market good enough to support your company’s operations?
• Will you be able to adapt to foreign cultures?
• Will you product/service sell adequately in foreign markets?
• Is your target market familiar with your product/service or do you need to educate consumers on it?
• Do you have the working knowledge of language and culture of target markets, should you need to spend time there?

Mistakes to Avoid When Going International

• Hastily deciding to expand to international markets without first conduction thorough research
• Failing to adapt your product/service to the needs of overseas markets
• Chasing a large amount of inquiries at an early stage instead of focusing on a small pool of countries at first
• Assuming that what worked domestically will automatically work in foreign markets
• Failing to budget for unforeseen expenditure
• Expecting an immediate return on investment
• Assuming that all business can be through the English language

Now, Let's see the 6 basic steps to going international easily. Here I made an amazing info-graphic to make you understand better.

How to Prepare for and Behave in International Meetings?

• Educate yourself about the country’s culture and learn a bit of the language. Your partners will appreciate the show of respect for them and their country.
• Familiarize yourself with cultural differences in body language. It varies from country to country.
• Bring your own interpreter. Even if your partner has one, they won’t have your interests at heart.
• Dress as appropriate for the country in which the meeting is being held.
• Engage in a small bit of informal chat with your partners prior to the start of the meeting. It’s a good way to make a positive first impression before properly getting down to business.
• Don’t set time limits. By keeping the meeting open, you are strengthening your negotiating position.

Tips for Hiring a Distributor

• Decide whether you want a stocking or non-stocking distributor. Stocking distributors are often larger firms who commit to purchasing your product.
• Ascertain whether your product/service requires a distributor with specialist knowledge of a certain subject.
• Favour distributors with a track record of selling to customers who you have identified as your target market for your product/service.
• Favour distributors who are multi-lingual, especially if you language aren’t developed.
• Take note of distributors who reply to communication promptly and consistently.
• Meet any potential distributors in person before formally hiring them.

How to Identify Sources for Exports?

• Focus on countries where your domestic market is granted favoured status, as this will incur lower import duties.
• Contact trade representatives working at the embassies of the countries that you have selected.
• Attend national and international trade fairs which feature exhibitors who seek to import to their domestic market.

Expert Advice

• Develop a long-term fit with the overall export business development strategy.
• Have a global perspective. An understanding of the social, cultural and economic aspects of the target market is vital to make the right decisions.
• Hire people at your organization who are adept at exchanging ideas, processes and systems across borders, people who are absolutely free of the ‘not-invented-here’ syndrome, people who are constantly working together to identify the best global opportunities and the biggest global problems facing the organization.

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