Build My Export Plan
The first step to successfully exporting is to develop a written plan. The process of thinking through the important questions highlighted below can help you understand your business’ strengths, weaknesses and potential. This list summarizes the key steps to get you started.
For more comprehensive assistance online, visit www.export.gov, administered by the U.S. Department of Commerce’s International Trade Administration or the U.S. Small Business Administration’s export resource page.
Start with the basics
What product or service will you export?
Is it marketable in other countries or does it need modifications?
Does your company have the human resources, time and money to invest in exporting?
What are your constraints?
Dive into market research
In what foreign markets are products like yours being sold?
Where will you have the fewest barriers (whether cultural, language, tariffs, competition)?
What market has the most growth potential for your products?
Once you have your answers, make a list of five to ten countries, then narrow it down to no more than two or three.
Launching a product in only a few markets will help you stay focused and will make it easier to learn the process. Remember, you can always expand to new markets once you have a firm exporting foundation.
Consider different marketing strategies
Will you market your product or service directly or indirectly?
Would it make sense to hire an export management company or engage in piggyback marketing (distributing your products through another company)?
Will you need to hire on-the-ground consultants to help you with translation and marketing?
Make plans to travel to meet foreign buyers or distributors
Phone calls and emails cannot compare to meeting a new business partner face to face or to getting a first-hand glance at a potential foreign market. When you meet with business partners in person, you may be surprised how many new contacts you can make. Trade shows can also be great ways to meet potential buyers, distributors and partners.
Understand the export and import regulations pertaining to your product
Does your target market have any specific requirements for labeling, packaging, etc? Understand the Harmonized Tariff Schedule so that you have a clear understanding of the tariffs and duties that may be imposed on your product in a specific foreign market.
Make transportation and logistics plans
Determine the best price for your product in your target foreign market
Will transportation costs, tariffs and marketing expenses require you to charge more for the product, or will you choose to reduce your profit to gain market share?
See sidebar for access to education, training and market research. And, when you’re closer to launching your export program, learn about Market Access services available through the Department of Commerce and our partners.