What does it take to become a successful global player
For being successful 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. Transformation: Exports are top priority
Exports aren’t just another aspect of business operations; they can be the linchpin for a complete and transformative overhaul of your company. Far from being a mere add-on, engaging in export activities holds the power to fundamentally reshape and elevate your business. It’s not just about increasing revenues; it’s about unlocking a pathway to entirely new levels of success. To achieve a comprehensive business transformation, exports must take a front-and-center role in the strategic planning and execution of your organization. Prioritizing and investing in exports isn’t just beneficial; it’s a strategic imperative for unlocking your company’s full potential and propelling it into a new era of prosperity.
2. Development of exports are an investment
Successful development of exports requires expertise, significant manpower, intensive efforts in the markets abroad and time. In other words, export development is always an investment. Don’t start development of exports without a clear business plan and a sufficient export development budget.
3. Commission-based export development
Very often companies are looking for a commission-based export development solution. There is no such solution. If you are not ready to invest for the transformation of your business and in the opportunity to multiply revenues, it is very challenging to expect from external partners to do it for you. Commission-based export development is a “no commitment” model and it never works.
4. Be aware of 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
- High international competition
Expecting the same level of ease as selling in your home market may lead to unrealistic expectations and potential pitfalls.
5. Export Power: 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, a high level of export readiness becomes paramount. Addressing export power 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 will lead to wasted time and financial resources.
6. Export roadmap: 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. Time to sales: 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.
8. 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.
9. A "No" is not the end, but where you start from
In the world of exports, it’s important to remember that buyers already have 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.
10. 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 valuable feedback to enhance your proposition and overall competitiveness. 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.