Starting A Successful Export Business In India-autobots

1. Starting point Building a strong Corporate International Image: Your credibility would play a pivotal role in the success of your export business. The key lies in presenting yourself as a strong and reliable trade partner in the intentional market even if you are a start-up/small .pany. Develop a good .pany logo through professional help. Use internationally accepted stationery in all your mail .munications. Having a well optimized web site is a must for a strong online presence and it adds credibility to your business. Everybody prefers searching online in todays digital world. Potential buyers are most likely to learn about your .pany and products through Internet prior to approaching you. In the absence of a good and well optimized website you are most likely to lose business to your tech savvy .petitor having a good website. Search engine optimization (SEO) is another tool to let your presence felt in the international market. You can optimize your website for the keywords pertaining to you business/ products so that every time your prospective buyers search for such products online they can find your website. You can make use of free online trade boards, import-export directories, forums, portals etc by posting online offers on these sites. It will certainly increase your chances of being found by potential buyers and will add value to your web site’s Search Engine ranking. 2. Learn About Export/Import Regulations and Terms of Trade Its advisable to contact your industry association, Export promotion council and relevant export authority to find out if you need a license, export permit or have to meet some other export requirements. Spending some time to learn about terms of trade and delivery, methods of international payments (Inco terms), International trade ethics etc is always worth the time. 3. Evaluatation and targeting of overseas Market It confounding to select a potential market for your product when there are so many countries looking lucrative to enter for your export business. Information is what you need to select an appropriate export market. Import Export Data India is the most reliable and strategic business tool for this purpose. It helps you to identify the potential overseas markets for your products and helps you to analyze quantity and value trends for each market. When selecting the market you should: Know the market’s requirements Assess your target customers Examine your .petitors Be prepared to .pete against lower-cost, lower-price local .panies. Pay a personal visit to your target market to get the overall feel of the local business conditions. Do your homework well before making the trip: Make a list of tasks you want to ac.plish. Arrange meetings with prospective buyers with prior appointment. Pay a visit to a few retail stores selling similar products as you are offering. Review and analyze .petitor’s pricing policy. Know about the current affairs and a little history about the country. Try and learn a little bit of their language. 4. Developing a unique marketing plan for each market: You must have a detailed marketing plan ready before entering any new market. It should include the knowledge about its past and current business, social and economic scenario. Your marketing goals, action plan and marketing control measures. Every market changes in every few years. Technological changes, Globalization, privatization and lifting of trade barriers etc might affect your marketing strategy and therefore you should keep a close watch on the changes and adjust your marketing plans accordingly. 5. Set up export prices for each market There are no set rules in fixing the prices of your goods in international market and prices may vary significantly in different markets. The following factors would influence the pricing of your products: Uniqueness of your product, Quality of your product Brand recognition of your product. Quantity demanded. Market trends and demand Target customers etc. Product pricing is the most crucial part in catching the buyer’s initial attention before the buyer actually familiar with the quality of your product, delivery and service. The exporter should always strive to sell maximum quantity with maximum profit margin. 6. Building a network of service providers: You need to find the right partners in developing your supply chain. You would need the services of banks, Insurance .panies, CHA, Freight forwarders etc. The more reliable your business partners the smoother your business would be. So keep building the network until it is fully optimized. 7. All your oral agreements must be in writing: This is one of the most important rules for your operations. You must have a written confirmation of mutually agreed terms and conditions before you move ahead. There is no tracking of the verbal .munication and there it is in the interest of everybody to keep everything in black and white to avoid any confusion and discrepancy. 8. You must be aware of fraudulent International business practices : The most .mon types of frauds are non-payments, samples and .plaints. Most of it can be avoided by choosing the right terms of payments. It would be much harder to protect your business from the latter two. Just be careful if someone is asking for free trade samples in the very first enquiry itself or if they are asking for unreasonable quantity as samples. 9. Be Prepared To Meet Growing Demand If you play all your cards right and your products be.e successful internationally then you will face increasing demand for your products. It imperative for you to meet the increased demand by increasing the production or by outsourcing it. If you are not able to meet the increasing demands then you are at a risk of losing the market and as buyers want to associate themselves with progressive vendors who can meet their growing demand. 10. Don’t Try to go overboard and grow too fast initially: Remember slow and steady wins the race. Focus on understanding one market at a time, moving on to the next only after succeeding in the last. Maintain a good cash flow before deciding on your expansion policy. About the Author: 相关的主题文章: