In part 1, we recited about the 3 most important strategies to consider in order to boosting the growth in your export business. In this section Part 2, you will get to learn about the other 3 most important strategies to deal with so as to push up your success curve in your export business.
Once you sure of the number of products you want to sell abroad, you know how much production you need to undergo. Depending on this number and your productivity signals you decide how many machineries, area and manpower you would need to employ to produce this number. The same way you decide how many resources you would need. Don’t miss out to verify with your suppliers that they are in stock of resources to meet your demand. If you are into the services industry you may exercise a similar wayde pending on hours that you will contribute performing those services for international buyers (both locally and abroad). Make use of this number to decide how many people, machineries and area you would need to add to meet your foreign goals.
Keep in writing everything that you acquire from foreign market research. Describe specific needs for the product, including tagging, packaging and law compliance requirements. Decide its price on the target markets. Recognize the best suitable advertising and sales line for every market.
Now when you have attentively researched and prepared on all areas of growth and have the management plan, initiate to planning specific activities, such as looking for partners or buyers, visiting business shows, purchasing production machineries etc. Your performance signals are your targets to follow further.
At iiiEM, get to learn all of these subjects in much detail.
Related Post: Export Business