Entering the international market is a crucial step for any company, which will require a lot of calculations and special research performed professionally. Even an experienced entrepreneur who has achieved success in his country can make serious mistakes when starting to work for export - such an activity requires special knowledge and experience.
It is necessary
- -Detailed information about those countries, the market of which you are going to enter;
- - well-established business relationship with a bank that provides a number of international services.
Instructions
Step 1
Start with a macroeconomic overview - evaluate different countries and regions of the world in terms of the demand for your goods or services in them. At the same time, take into account the political and economic situation in each country, its culture and traditions, climate features, etc. Most likely, you will be able to weed out many countries at once, and the ways of "implementation" in the few remaining ones that are suitable for you need to be developed separately for each country.
Step 2
Test the market in the country you intend to interact with. Find out when a specialized trade fair is taking place there that is relevant to your profile and visit it. As a rule, it is easy to assess the demand in a particular country precisely during such "industry" events. After talking with potential distributors, you can probably already form your opinion about whether it is advisable to enter the market in a given country.
Step 3
Decide whether you will export the goods you produce, or organize production in the country through which you are going to expand your range of sales. Also decide on the export distribution channel - whether a foreign representative will work for you, who will undertake to organize the whole business independently, providing only regular reports, or your team will have to work in a foreign country.
Step 4
Choose a bank you will rely on when working abroad - you will definitely need international credit, export financing and foreign exchange services. Try to start cooperation with the bank that provides the widest possible package of international services. Find out also with which large foreign banks this bank has correspondent relations. Having solved the problem with financing, you can already safely proceed to solving private issues.
