The 10 Pillars of Successful Exporting

Author: Youth 2 Youth.

With advances in technology, transport and communications many Australian products and services can now compete successfully in the world marketplace. A well-planned export strategy is the first step to fully capitalising on overseas opportunities. Here's some key considerations for those just starting out.

1. Successfully conquer the home
front Establish a solid market in your home market before thinking about exporting. This will equip you with the skills and experience required for the challenges ahead, as well as provide much-needed cash-flow to finance your new adventure! Austrade research indicates that 90% of successful exporters were already well established in the Australian market before they attempted to export.

2. Do your homework
Spend time and energy thoroughly researching potential markets. Identify those real opportunities by being aware of where to find reliable information both in Australia and overseas.

3. Determination and patience pays
It's a fact: exporting requires time, effort, money and commitment. You will need to be patient, 'It won't happen overnight but it will happen'! Mistakes can be very costly and opportunities can be fleeting, so go slow.

4. Go to market
Visit the markets you're interested in. Though often costly, this can help you identify opportunities and partnerships that you may not have worked out at home. Establish relationships while you're there, as you'll need reliable and efficient support later on, so this will save you time (if you find good distributors now, it will take less time later). Once you're up and running, visit regularly.

5. Plan, plan, plan
Don't rely on Lady Luck. Develop a detailed export plan that establishes goals and objectives, one that sets out the strategies and actions you will use to achieve these. It is important to, as far as possible, put a number on the financial and operational impact that exporting will have on your existing business. Factor in extra expenses for emergencies and currency fluctuations.

6. Ease into the market
Prioritise your list of potential target markets and enter them one at a time in a calculated manner. Many small businesses cannot handle the strain of multi-market entry.

7. Change is constant
Keep in mind that both your exporting vision and your business will be subject to changes. The global economy ebbs and flows and is also very diverse, so be prepared to adapt.

8. Relationships matter
Choose your export partners, if any, very very carefully. You need to assess their contacts and ethics as well as their experience and skills. Maintaining honest and open communication will set you on the right track.

9. Ask for help
Austrade and a variety of other scheme and departments exist to help you. Use them!

10. Smile
Be positive about the experience and enjoy the satisfaction of meeting new people and entering new markets.

'Copyright 2003 Youth 2 Youth'

Disclaimer: This article is for your information, but it may not apply to or be suitable for your situation, so seek professional advice. Youth 2 Youth cannot be held liable for anything resulting from how you use the information provided in this article.