Theo Kaciubskyj from Export Unlocked gave his talk on planning an export strategy at the Business Show at London’s Excel…
Do you have an export strategy? You need one, even if you a small company, but it doesn’t have to be complicated. An export strategy takes account of where you are currently in relation to your overseas market and helps determine and implement your export vision to export reality.
1. A viability assessment – asking a lot of questions and then searching for the answers
2. Determine the key export issues – what do you need to do to make your product exportable and get it into markets?
3. Implement – take action. You only act once you have assessed everything and done all your homework – there’s no point rushing in only to find at the last hour you aren’t prepared. Here are some things to consider…
Will your product fit with the countries and markets you want to export to? Is there a demand for your product or service? Do you need to tweak it to make it fit? Do research, check out opportunities and look at your competitors. What competitive advantage do you have over them? It won’t always be the same as it is in the UK. Will there be opportunities for you to grow in that market? Do you have the resources to make it happen?
Is it an edible product? There might be restrictions on whether you can sell in certain countries. What is the extend of the adaptation required? What are the country’s standards, conventions, agreements and treaties? If a product needs to be returned or shipped back to the UK, how will that work?
Do you have enough staff to manage your export strategy? Do you want to use agents and distributors? You will most likely be asking staff to do things they haven’t done so far – do they have the skills, language skills and appropriate understanding of overseas cultural differences? Does your staff buy in to your export vision?