Shane T. Frank, COO of alliantgroup, on Successful Exporting

For many businesses, exporting is a large part of success and revenue potential. Whether a business is large or small, exporting globally can come with many benefits and can help stimulate growth and generate new business across the world. According to Forbes contributor, Jake Rheude, 96% of the world’s consumers and over three-quarters of the world purchasing power are outside of the U.S. Contribute to your company’s success by following a few of these essential steps to exporting:

Conduct Research and Establish a Target Market
Anytime a business enters a foreign market, whether it's for expansion or exporting purposes, it’s essential that proper research is conducted beforehand. Always identify your product and the target market you’ll be exporting to. This will help you identify who your target market should be, the best ways you can promote your product and what competitors you may have to face within that market. Competition is a large part of exporting. Without understanding who your competition is, you face risks of consumers not having an interest in your product.

Create a Business Plan
Your business plan is an essential part of the exporting process. Before making the jump to global exporting, it’s crucial for your company to devise a plan that will map out things like the strengths and weaknesses of your company and products, who will be focused on your exporting efforts, supply and demand and smaller factors such as packaging and design. These are all essential areas of having a successful exporting experience. Without a strong business plan, the risks are greater and failure is much more likely.

Sales, Marketing & Distribution Channels
Once you’ve established your plan and target market, you’ll want to focus on your sales, marketing, and distribution efforts. Sales and marketing are a vital part of your exporting plan, as this is how you will drive business and bring awareness to your products and brand overseas. An effective marketing plan is a great way to combat any competition and get your name out there to the new market you’re entering. Additionally, you’ll want to establish your distribution channels, as this is how your company can ensure products and goods are reaching the end users in an efficient amount of time.

Transactions and Documents
Companies that are moving into the world of exporting always need to have the proper documentation and compliances met before moving forward. Depending on the industry or international market, these compliances and documents can vary; however, it’s essential to the success of your companies exporting initiatives to make sure everything is in order. This will ultimately help avoid clearance issues or any other delays in the exporting process.

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This article was originally published on shanetfrankalliantgroup.com

About the Author

Shane T. Frank is a highly experienced entrepreneur with interests in cryptocurrency, international export, and technology. Based in Houston, TX, Shane is a co-founder and the Chief Operations Officer of alliantgroup, a national specialty tax service that assists businesses, and their corresponding CPAs, in maximizing available tax credits and other various incentives. For more of Shane's insights, visit:

shanetfrank.net

shanetfrank.org

shanetfrankalliantgroup.com