The export principles
What does it take to become a successful export company
For a successful cooperation we need to agree on the basics!
Unrealistic expectations and misunderstandings about the requirements for becoming a successful international player are likely the primary reasons why export development projects fail. At Blueschild Consulting, we understand the significance of addressing these issues upfront. Before embarking on a new cooperation, we place great emphasis on aligning our strategies with the management of our customers. By doing so, we ensure that the export development project is based on realistic goals and a shared understanding of the challenges and opportunities ahead. This approach maximizes the chances of achieving success in the global market and minimizes the risks associated with misaligned expectations.
BLUESCHILD CONSULTINGEXPORT PRINCIPLES
1. The 3 handicaps in exports
When it comes to exports, you start with three handicaps:
- Geographic distance to buyers
- Your brand is unknown in foreign markets
- International competition is higher
To achieve success in exports, it’s crucial to be prepared for the additional hurdles that come with operating in foreign territories. Companies need to invest in thorough market research, establish strong distribution networks, navigate language and communication barriers, and comply with international trade regulations. Expecting the same level of ease as selling in your home market may lead to unrealistic expectations and potential pitfalls.
Exports are a strategic investment that requires careful planning and allocation of resources. Successfully developing and executing an export strategy demands expertise, hard work, and financial commitment, either to in-house employees or external partners. It’s essential to recognize that exporting is not a quick fix for struggling businesses or a remedy for issues in the domestic market. Before embarking on export development, having a dedicated export budget is crucial for sustainable success.
3. Sales guarantee
In business there is no “guarantee” for anything. In the end, exports depend on competitiveness of your products. You can maximise chances for good results by choosing a development model which fits best to your company. As export development experts we will bring valuable leads, the success rate in terms of sales depends on you.
4. Commission-based export development
Commission-based export development is a common request from companies seeking to expand their presence into international markets. However, it’s essential to address a key consideration: if your company is not willing to make an investment in its internationalization, it becomes challenging to expect a third-party partner to take on that responsibility. Commission-based approaches would be an option when your company possesses a unique product or service without direct competition in the target markets.
5. Exports are a priority
Making exports a priority is crucial for SME businesses looking to expand internationally. The process of internationalization demands unwavering commitment from top management, and their active involvement is essential for the success of the export development project.
6. No chance for shortcuts
Exporting is a long-term endeavor, comparable to running a marathon rather than a sprint. A successful export development process involves multiple crucial steps, each demanding its fair share of time and dedication. There are no shortcuts on this journey, and achieving export success requires unwavering commitment to seeing it through to the end. Quick export sales within a few weeks or months are unrealistic expectations. True success in exports comes from embracing the comprehensive approach and understanding the time required to establish a solid international presence.
7. Get ready first
Exporting comes with unique barriers, including the geographical distance to buyers, fierce international competition, and building brand awareness from scratch. Given these challenges, ensuring a high level of export readiness becomes paramount. Addressing export readiness at the outset is not a hindrance to achieving results; instead, it is the cornerstone of maximizing success. On the contrary, rushing into lead generation without adequately addressing weaknesses and gaps can lead to wasted time and financial resources.
8. Buyers set the pace
Although closing deals promptly might be your desire, it’s crucial to acknowledge that buyers hold the reins when it comes to the timeline. Even if buyers express interest in collaborating with your company, it may take time for them to place initial orders. Pressuring buyers is counterproductive, as it diminishes the likelihood of successful deal closures. Pushing too hard can have an adverse effect on your chances of reaching favorable agreements.
9. Sales are not the first, but the final result
In the journey of export development, there are crucial milestones to achieve even before making the first sale. Gathering buyer data, establishing brand awareness, and gaining market insights are all valuable outcomes that deserve proper evaluation. These accomplishments lay the foundation for successful exports and provide essential knowledge and information to guide further actions. Rather than solely focusing on immediate sales, it is essential to recognize the significance and value of these achievements.
10. A "No" is not the end, but where you start from
In the world of exports, it’s important to remember that buyers often already have their established suppliers. Therefore, receiving a “No for now” response should be anticipated. However, it’s crucial not to view this as a definitive rejection. Instead, maintain open lines of communication and be persistent in your efforts. By demonstrating dedication and consistent follow-up, you increase the likelihood of eventually becoming a supplier for them. Patience and perseverance are key traits in the export business, and with persistence, you can create opportunities and build valuable partnerships over time.
11. Benefit from failures
In the pursuit of export development, it’s inevitable to encounter failures along the way. Rather than becoming disheartened, view these setbacks as opportunities for growth. Use them as valuable feedback to enhance your proposition and overall competitiveness. Embrace a learning mindset and keep moving forward with resilience. One of the most common reasons companies fail in their export endeavors is due to premature surrender. Remember that success in exports often requires persistence and determination. By learning from failures and continuously refining your approach, you increase the chances of achieving your export goals and establishing a strong global presence.