Chapter # 5 : Selecting the right export distribution
Is this your new way of conducting international business?
The pandemic has changed our lives and the way we work. What has not changed is the demand to activate, diversify and expand our business. It is now even more important than before.
We need to diversify and spread our risk. That means to sell to more markets but also source products and services from overseas, this to become even more competitive on our domestic market. The more we can sell to our existing clients, the better profitability and more stability in our domestic business.
By expanding into new markets will not only spread our risks. You will not be so dependent on one market, but you also spread your overhead cost and R&D on a higher volume, reducing your per-unit costs.
There is always a hesitation to enter new markets, especially if you are new in the game. You do not know how to and you feel it is risky.
Perhaps your staff has no or limited experience to work on new markets and you do not have someone like an export manager on staff with extensive experience of conducting business overseas.
What do you do?
The key to success in international markets are:
1. Attitude, common sense, you have to be open-minded
2. To understand other countries’ culture and how to conduct business there
If you could get someone to hold your hand and guide you at the start it would help. It is like learning to fly. You can study a lot, but you need to practice and want someone experienced that can transfer their knowledge of flying and let you fly, assisting you to become a better pilot.
Today we rely more on remote working but also on remote advice, to activate our marketing and entering new markets.
With restrictions on moving around, we feel that expanding on new markets would be difficult and tend to postpone our activities.
However, now is the right time to enter and activate new markets. If you are new in the game or need assistance to kick off now is the right time.
Your potential clients or partners are also stuck in their home country, they are just waiting for your call. They are as eager as you to expand, increase sales and profitability. By working from home, we do not need to travel to the office, but we can travel overseas, using the internet, zoom, Skype and much more.
Now is also a good time to train your staff. They can study achieving new skills, investigate new markets, and contact new clients and markets, even working from home.
The people that can give you advice and be your co-pilot are also stuck at home. Utilize that opportunity to rent a remote export manager/coach.
Hopefully, the articles and the videos will give you answer to some questions, and also convince you that international business is not that complicated.
I will be happy to give you more ideas and advice. With the Internet, zoom, skype and much more I will be happy to discuss how you can expand into new markets.
Don’t wait to get started. This is the right time to expand your business.
Leif Holmvall, President
Export Pro Inc.
In our book “Export & Import – Winning in the Global Marketplace”
ISBN 978-0-9681148-1-0 those topics are covered in depth. You can also buy our book for less than $10 as an e-book visit e.g. https://www.amazon.com/dp/0968114814, where you can read part of the book.
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