The Very First Steps ¶
choosing the markets that will have the best business impact is the very foundation for everything.
Building a Customer Profile ¶
- Who is the customer?
- When does the customer buy?
- How does the customer buy?
- Why does the customer buy?
Next, developing the customer profile
- Understanding Who is buying our product will help you understand where you want to sell.
Choosing the Right Markets ¶
Considering factors:
- Demographics
- Regulatory or legal issue
- considering the administrative and legal difficulties of selling to and getting payment out of those countries
- geographic proximity
- eg.: working with 3 to 5 countries that are close to each other is a good way to spread the cost of sales
Mistakes:
- Choosing the market just because thinking it fun to travel
- Using the wrong advisors and consultants
Not to suggest working with government agencies, because it’s easy to become too dependent on them
Picture an international sales team for a successful company with 30 or 40 people on the ground
Places to go for business advice: taxpayer-supported government at
- the federal level
- the state level
- at the municipal level, and plus
- the Small Business Administration (depending on your size)
Advisors who make their money by making changes to products are with experience in changing, adjusting, or designing products for export. They may be helpful later on in the process, but dangerous in the early stages.
Try to establish the best possible network with other export managers to exchange information and advice.
Early success is key to the survival of the entire project.
How many Markets to go into? ¶
Enough so that an adverse economic event or natural disaster won’t sink you
Not too many to provide good coverage
- balancing the cost and returns