What do I need to think about when building an export strategy?

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An export strategy is an essential component of your overall business plan. It doesn’t need to be complicated, but at a minimum it should cover the following:

Domestic business overview

What is the current status of your domestic business?

Target market

What are the country or countries that you will target, including the size of the market, the cities or regions you will be targeting, the demographics of your target market

Financial resources

What capital do you require for growth overseas, what costs and expenses do you estimate you will encounter, how will you source the finance you need?

Staff

What is the size of your current team and what headcount growth do you project you will require, how will you meet this growth, what export experience do your staff have?

Product

Does your product need to be adapted for each new market, how will you brand and market your product?

Market positioning      

What market segment in each country will your product or service be positioned for, where are they located, how much will they pay?

Distribution strategy

How will you distribute your product or service, what are the delivery costs, how will you service your customers?

Competitors

Who are your competitiors in each country, what are their strengths, weaknesses, distribution strategy, price point and customer service strategy?

Regulatory requirements

What are the government standards that you will need to adhere to, the licenses you will need to apply for, the warranties and after-sales service that you will need to provide?

"Have a team in place that has done it before... They know what you don’t know, they have been on the journey, they have made mistakes. Matthew Michalewicz, entrepreneur."

"[We decided] we’ve got to be at the top of the market, to have a quality product and to be in a niche market. Paul Cooper, Rinstrum."