Evaluate every aspect necessary for your success in the internationalization process.
Find out here how ready your company is to expand into international markets.
evaluate your readiness by considering 3 main pillars:
I. Operational Pillar
II. Financial pillar
III. Organizational pillar
Identify your target market: Before setting a destination, analyze whether the product or service you want to export proves to have a demand in the target market
through the identification of needs, opportunities, and spaces available for your offer.
Once you have chosen a target market, the next step is to create a market entry plan.
Keep in mind: Competition in your target market, required adaptations of your product or service, costs, packaging, distribution options, current regulations and laws, taxes, required certifications, cultural differences, associated risks, shipping, customs, logistics, AmCham, and tariff barriers.
By developing the right marketing strategy you will be able to address the three main barriers that face the export process: Distance, Adaptation, and Culture.
The correct selection of your target market will help you increase the chances of finding new customers in the destination. Assigning a dedicated team to the process, as well as the necessary resources of time and money also prove to be a determining factor in achieving export success.
Evaluate the option that best suits you according to the country selected as the destination, its industry, and capabilities:
- Direct export
- Through an intermediary or local
- Subcontracting (Outsourcing)
- Direct investment in the target country
High-speed connectivity, user-friendly software, and easy transportation have reduced the barriers to finding and selling to foreign customers over the Internet.
Start by learning the basics of e-commerce, it is always recommended to start with products that you can keep in stock and ship easily.
For many entrepreneurs, “going global” is something that large companies do. If you run a small or medium-sized company with limited resources, evaluate what business models you can access: From raising capital with investors interested in your company, merging with a company; or forming a joint venture with a foreign company, or accessing financing tools.
International shipping can be discouraging. Someone on your team should familiarize themselves with the logistics involved and study the best logistics options for your company, seeking outside expert advice as needed.
Be sure to include accurate and complete documentation with your products for customs clearance.