Exporting Your Goods
Ten Steps to Successful Goods Exporting
If you have already succeeded in Canada, you can succeed abroad by following these ten steps:
1. Become familiar with the basics of exporting.
Before you expend the time and resources necessary to export, see if it sounds like a good fit with your current operations.
2. Clarify the components of your current competitiveness.
You need to understand what the necessary conditions are for your success in a new market.
3. Evaluate your strengths and weaknesses for duplicating that competitiveness in export markets.
The Export Readiness Diagnostic can help you assess your strengths, weaknesses, objectives, and strategies as you explore opportunities in foreign markets. It will also allow you to test your capabilities against different types of markets, or alternate market entry strategies, through “what if” scenarios.
4. Research potential markets.
Market research can give you a clear picture of the economic, political, and cultural factors in potential markets and how they match with your conditions for success, allowing you to select an export market.
5. Adapt your marketing strategy to your export market.
Your marketing strategy will need to reflect the cultural values and business practices of your export market
6. Select and implement an appropriate market entry strategy.
You will need to choose whether to sell directly, export through a foreign agent or distributor or export management company, work through a strategic partnership, or sell through a trading house to develop the market.
7. Understand legal and contracting issues.
Before entering into sales contracts, you need to understand your rights and obligations as an exporter and what your options are for protecting intellectual property and resolving disputes. You also need to know your export market’s product-specific rules and regulations covering such things as packaging and labelling, customs and duties, health, security, and safety.
8. Get help with logistical issues.
You will need expert assistance from a freight forwarder and a customs broker to get your goods to your buyer.
9. Ensure adequate export financing.
Before you begin, you need to know how you will finance export market development and initial sales activity until the export initiative breaks even as well as what options you will use for pre-shipment and post-shipment financing.
10. Let TradeStart and the Trade Commissioner Service help you along the way.
TradeStart is committed to helping BC small and medium size businesses thrive in global markets by offering comprehensive export information and services for both new and experienced exporters. Registering for the Virtual Trade Commissioner Service will provide you with market information and access to assistance in the market.