MODERN EXPORTING
What you Must Know
About Developing Your
Business Internationally
By Marjane Beaugeois
It’s never been easier
Exporting and importing in many
parts of the world has never been
easier. There are many new ways
of finding new markets, distributors
and suppliers thanks to the internet
and the myriad of international
trade platforms.
Assess your potential for
export
So why should your business be
restricted to your domestic market?
There are many more customers
for your goods and services, your
franchise system or even your
intellectual property out there.
Though, there could be some
challenges to operate away from a
familiar environment. The decision
of entering foreign markets
implies a long-haul commitment
with financial and operational
consequences and is likely to
impact the course of your business,
for the better we all hope! But
taking the opportunity of a larger
customer base doesn’t need to be a
guess work!
Assessing your ability to export
is a start and long with a good
54 ModernBusiness
January 2016
preparation is primordial as the
success in exporting requires a
lasting presence in your selected
markets. An export diagnosis
questionnaire is a tool to explore
the strengths and weaknesses of
your business through a simple
checklist and helps evaluate
your readiness for developing
internationally.
Choose carefully your
target markets
Starting an export business may be
a strategic decision as a solution to
a simple need for selling more and
selling fast a surplus production or
seasonal stock or an opportunistic
move, taking advantage of an
enquiry for your goods or services
in which case, beyond the initial
phase, there is still a need for
adopting a more diligent approach
in selecting the markets you would
like to do business in.
Selecting similar
markets
You would select these markets
for their fairly familiar business
environment. They are limited in
number and are usually safer but
are likely to be mature, stagnating
markets in which, you are likely
to encounter a similar level of
competition. For Australian
businesses, New Zealand is a good
example and vice versa.
Markets with the high
potential for growth
You would consider these markets
if your company is specialised in
niche technology or your domestic
market is too narrow for a fair
return on investment or may require
fast, seasonal, higher volume
sales. In such scenarios, markets
with high level of similarities do
not always offer the best business
opportunities. It makes sense to
identify countries that have greater
potential for growth. Needless to
say that these markets are likely
to be riskier and require stronger
commitment
Know your markets
Regardless, of what market you
choose, it is essential that you
familiarise yourself with the target
country. Business ethics and
culture vary hugely from a country
to another even within the same
region. Visit relevant international
fairs, go on a discovery tour of