It is important that you know about the export strategies Because in principle it is essential for the business plan that you will develop for your company.
Although the strategies are easy to implement, you must follow some suggestions that will lead you to be successful in your business, so it is convenient to keep reading …
How are export strategies developed?
- You already know that export strategies They are essential for your business plan, because as a company you will develop it and communicate to all your staff about the result of it based on everyone working to obtain the results you aspire to achieve.
- You must make an evaluation of your company’s profile to be able to decide if it is convenient for you to export and how the exhortation process will be integrated into the business plan.
- Well, you should know if your company is in a good time to assume a risk such as foreign trade, since from this decision your company can begin to change.
- You should even know and according to the profile that you detected if exporting is one of the objectives of your business, that is, what is the reason for making the decision to export, if you have the necessary resources to start this process, if your products are required. in the international market, if your company is prepared or designed to develop in the export market and if it has the capacity to expand.
- Then you will have to ask yourself what are the strengths of your company, know the requirements for exporting and then you will evaluate if you will obtain considerable profits with respect to the investment you will make.
- You must detect which of your product or products can be exported or if they need an adaptation to the international market.
- Think about whether you have registered your products or need to protect them with other measures.
- If you make the decision to export, you should ask yourself if the organizational structure of your company will need changes, that is, it could be necessary to hire more staff.
- Asking if the staff of your company has sales skills, if they can take care of export orders without neglecting local production and depending on this you will know if you need to make new investments.
- Ask yourself what the cost of exporting will be in a plan that covers the first years and when you will see the profitability of the export.
- You may need an initial investment, so ask yourself how you will finance yourself.
- Then you will go on to analyze and investigate the market but with more details about the destination you selected to export your product.
- For example, you will analyze what consumers need, if there are trends, what type of after-sales service is required by consumers, what are your competitors, if they are foreign or local, if there are products that can be considered as a replacement for your product.
- Analyze tariffs and taxes and restrictions for the entry of foreign products.
- Research costs and distribution channels.
- If you decided to export and you know the foreign market, define the goals you will set, for example what is the profitability you would like to achieve, when you want to enter the international market, the level of production, etc.
What is an export strategy?
- 1. What is an export strategy? Well, it will be part of your business plan as an essential component whose objective is to define if it is convenient for you to export, if your company is prepared to face the international market, since not all companies have the capacity to invest, since they do not have sufficient resources to plan and manage the export because it is a risky process.
- However, there are SMEs that export without the need for large investments and gives rise to business growth because exporting allows them to expand and position themselves in the international market.
What are the advantages of exports?
- 1. What are the advantages of exports?In addition to expansion, exporting means growth to the company that otherwise would not be achieved by dedicating itself solely to the local market.
- If your company applies a good strategy, you analyze each of the details about the international market and the internal part of your company achieves an international position consolidating yourself at a global level.
- When your company manages to expand, your product will achieve greater visibility.
- You will be looking for new market niches, with which you will diversify the risks, because in a period of economic recession, thanks to this diversification you will obtain continuity of sale.
- You will obtain greater prestige, you will highlight your image before clients, financial institutions, banks and suppliers.
What is the commercial strategy of a company?
- 1. What is the commercial strategy of a company? As you may have noticed, it is nothing more than a very well-defined plan so that you can sell your products to the foreign market and you must do it by following these steps:
Step 1: In the first step you will define the strategy evaluating opportunities and strengths, threats and weaknesses with a diagnosis about the company including its environment with a SWOT diagnosis.
Step 2: Then you will define the plan from the main objective with goals, strategies and measures following the OGSM method. Well, it will help you to have a defined business plan for next year and the next 5 years.
Step 3: First you will define the objective you are looking for and then achieve it with three or six goals and for each of them you will apply strategies and indicate measurements for each strategy.
You will establish one or more clear objectives by defining a deadline to achieve them, whether you have established a qualitative or quantitative objective.
A quantitative objective will have to do with increasing the level of sales with a certain profit margin, while the quantitative objective will have to do with exponentializing the brand before consumers.
By setting goals you will be able to visualize the main objective because each of the goals are partial objectives that will lead you to achieve that main objective.