Getting Ready …
Learn the basics of what it takes to export and assess where you stand so you can identify all the improvements and adjustments you still need to make before you start the journey
Are you Ready for Export?
It’s important to consider if your business is ready and to be sure that you understand exactly what exporting entails before you start.
Exporting consumes time and money and requires strong management commitment. In the initial stages management staff are usually diverted from existing domestic business but for many companies, this short-term stress will provide longer term rewards.
What does it take to be ready for international business?
To have a successful international business, you need a product or service which is in demand in overseas markets, as well as the necessary commitment, resources, skills and information to support sustained exporting activities over the longer term.
The following are critical success factors towards being export ready:
- Significant management time and strong management commitment
- Strength in the domestic market (not an absolute must but helps to convince buyers and providers of finance as well as offer sufficient cash flow for the required working capital)
- The resources to carry cost of product modifications, travel and international marketing
- The right people in place to run the export side of your business, possibly additional staff.
- Export knowledge and skills
Assess your readiness
It is extremely important that companies enter the export arena only when they are truly ready to due so.
If you are not ready to export, then trying to break into exports is likely to be the quickest way of destroying your company. It is strongly recommend that you assess your ‘export readiness’.