1. Do your homework: Understand the rules of engagement, particularly issues like duties and paperwork. Finding out at the outset what is required might save a few headaches later.
2. Understand the market: For instance, find out how your product and service might need to be adapted for export and what regulations must be complied with.
3. Research costs: Understand any costs you might incur – shipping for instance. A clear understanding of costs is vital to assessing the profitability of each opportunity.
4. Get exchange rate advice: Particularly in uncertain economic times, a good understanding of how fluctuations in exchange rate will affect profitability and pricing is vital.
5. Look to the future: Whilst every profitable sale is welcome, it is always worth looking at long terms market
potential, to assess whether initial investment might bear fruit later.
6. Assess the competition: Find out who you are competing with, how their products and pricing differ from yours as well as things like how and where they operate.
7. Communicate effectively: Be sensitive to language and cultural differences in your target market. Tailor your communication to suit potential customers.
8. Streamline the paperwork: Secure export certification and documentation online, to save time and money, but use only trusted suppliers.
9. Don’t over-commit: Focus your efforts on one market at a time and prioritise according to both short term opportunity and long term potential.
10. GET HELP: Export support and advice through every stage of the export process is invaluable. In many cases it makes the difference between success and failure. Contact your Kent Invicta Chamber of Commerce for more information about the support available to your business on 01233 503838.
Useful links for Exporting
