The original article was published: http://www.rivcoeda.org/Publication/EXPORT/Magazine%20Issue_23_2015/index.html#14
International trade should be of the utmost importance for US companies trying to enter or, keep up with the modern commercial world. The first point of reference should be an export plan which will map out the various factors that need to be considered. This article will provide some useful guidelines on such factors, which have been made more efficient through the use of the internet. In support of the export growth strategies for Riverside County and the state of California, this article has been written with CEO’s, Sales and Marketing Directors and, CFO’s in mind, as there could be significant profitable sales growth opportunities.
Successful CEO’s who have an international mindset tend to view strategic export plans as a way of ensuring a clear vision and goal before launching. The ultimate goal is indeed to increase revenue by increased sales profitable margins however, the formula in doing so can be complex. The key here is not to fear complexity but to have all the relevant information and resources in order to understand the risks involved with mitigation and, ensure revenue generation. The following points are some basic topics to consider within an export plan [these are basic items – for a more detailed list please contact hema@ iffelinternaitonal.com]:
• What products can be sold directly using eCommerce/ mCommerce?
• What products can be sold through agents/distributors?
• Branding and brand presentation for the export destination
• Product management: pricing, regulatory & compliance issues, packaging, labeling, returns and warranty
• What markets are likely to respond well to your product and services, demand and supply evaluation, competitor benchmarking and sales margins by each international region.
• Promotion: What advertising is likely to work both print and/or online advertising
• Creating a budget
• To ensure all legal contracts are in place be it for a B2C or B2B sales model
• Understanding international tax issues
• What legal do’s and don’ts there are in the export destination
• Sales order fulfillment, from the manufacturing location to the buyer
• Freight forwarding
• Same day or next day deliveries
These are simply some of the headline topics for consideration. The attention to detail for each topic will fall nicely into the budget which will ultimately dictate the cost of human capital required for growth and to support customer service. Depending on which markets become growth centers for your business, there may be issues with languages spoken other than English and Spanish.
Although this may sound overwhelming for a business that has no past experience exporting, there are however many international trade specialists – both in terms of government bodies and private companies – who are able to assist and make plans manageable and achievable.
As an advocate for distributors and manufacturers in the Riverside County, business owners should consider exporting in 2015 to enhance sales and profit in addition to domestic US based success. GloCAL (Global & SoCAL) is a group of private business owners who are committed to helping companies put together functional export plans. The group is lead by Hema Dey from Iffel International. For more information contact Ms. Dey, firstname.lastname@example.org
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