Exporting Checklist

 

One of your market growth strategies could involve exporting. In this age of globalisation, exporting and importing opportunities are expanding, as barriers to trade are reduced and standardisation across markets occurs. You are competing successfully in Australia and you want to consider an exporting strategy. The attractiveness of new revenue and profit streams are exciting but you need to do your research and have a detailed plan. Use this checklist to consider all the aspects of a successful exporting plan.

 

 

Thorough research is vital to assessing your export potential. Considerable cost and resources will be committed to an exporting strategy. It is essential to conduct market research about the market structures and your target market within these potential growth regions. 

1. Have I assessed the market potential and the competitive environment? 2. What are the product standards, quarantine restrictions and regulations within these markets? 3. What is your anticipated product acceptance and on what basis will you differentiate? 4. What packaging modifications and product enhancements will be necessary to meet cultural demands? 5. Have you visited the country you intend to export into?

Austrade (Australian Trade Commission) Export Hub My Export Coach

Align to your Business Plan & Resourcing

An exporting strategy must be aligned to the overall business goals. You must always establish initiatives that leverage your core competencies. As a business, are you resourced to support an exporting strategy? Will exporting assist or distract in meeting your business objectives and financial targets?

 

 

An exporting strategy must fulfil on the recommendations of the marketing and business plan. There must be a business fit. This should be a functional plan that details resourcing requirements, timelines, budgets and performance measurements. 

 

Your export plan should outline your sales and distribution strategy and also define your product development plans. Many businesses will seek a trade partner that has operations in that market and is experienced in the nuances of that market. Alternatively you may operate a direct sales approach. Whether you use a sales agent, distributor, establish a Joint Venture or set up a local sales team, you should be aware of the complexities of trade and sales contracts. Who is responsible for the goods in transit? What are the payment terms and trigger points?

 

Your promotional messages and channels will need to be customised for the export market. Cultural differences can make your current strategies ineffective, possibly even offensive in some markets. For example, you may need to consider your brand positioning and the imagery you use. Media forms of promotion in Australia may not necessarily be effective in reaching your target in a foreign market.

 

You must also get advice on your Intellectual Property rights and what risks are presented when exporting into a new market. Patents and Trademarks are only recognised in the country of origin. 

 

 

The distribution process into an export market is greatly more complex than you are used to. This complexity has a direct impact on delays in your goods receipted and payment process, which ultimately affects your cashflow. You will also need to consider insurance and protection of your goods in transit. Speak to your financial advisors on currency and foreign exchange issues.