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Top ten export errors

(NC)While there are many paths one might take to become a successful exporter, there are many surefire ways to jeopardize an export venture. According to Team Canada Inc, struggling exporters might want to determine if they are making any of the following mistakes.

1. Poor sell research or no sell research you would not contruct a house without a set of blueprints, building codes and an idea of the costs. Why would you attempt to enter a foreign advertise without any idea of the culture, business customs, consumer demand, laws and the competition in the sell ? Market research is critical to success.

2. Lack of commitment exporting might be a complex and resource intensive exercise and must not be approached half-heartedly. The potential rewards are good but an exporter must be committed to the measure and effort required to bring those rewards to fruition.

3. Working with the wrong all the people partners are critical to many aspects of exporting. Involvement with the wrong agents, distributors, bankers, brokers or other strategic partners can be an exporters downfall. It is important to conduct due diligence and learn about prospective partners in advance.

4. Biting off more than you may chew first instant exporters are well advised to test new markets on a small scale and one sell at a measure .

5. Exporting as a back-up plan some businesses view exporting as a supplement to the domestic business rather than a strategic venture requiring dedicated resources and priority action. It is unlikely that they will reach their full export potential with this approach.

6. Poor business relationship skills partners in foreign markets deserve the same respect and attention that domestic partners receive. If an exporter alienates a foreign agent or distributor, he or she is sabotaging the export venture.

7. Lack of flexibility failure to adapt products, services, and promoting and promotional materials to meet local regulations and preferences will translate into failure in the target market.

8. Maintaining language barriers while English is generally touted as the international language of business, many potential clients and customers in foreign markets do not speak the language. Success in these markets will be limited if the exporter does not build the effort to communicate in the languages of the many people to whom he or she is exporting. This applies to sales and promotional materials as well.

9. Lack of export expertise knowing what you are doing before you beginning puts an exporter on the path to success. It is also important to understand your limitations, and to seek out export expertise when needed.

10. Flying solo there is a nice deal of assistance available to exporters, covering every facet of the export process from financing to technology exchanges to partners in foreign markets. Export success does not have to be achieved in isolation. Exporters must seek out win-win partnerships that help them reach their export goals.

This information is drawn from A Step-by-Step Guide to Exportings "The Top Ten Export Errors", available online at http://exportsource.ca/stepbystep. For further experience on exporting, call the Team Canada Inc Export Information Service at 1 888 811-1119 or log on to ExportSource.ca.

- News Canada
 

 
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