Doing your research
Now that you have determined your business is “export ready”, the next stage is to thoroughly research all those factors that will impact on your export strategy, namely:
You will probably need to complete two forms of market research. The first is desk research and the second is in-market research. Completing as much research as possible before visiting the market, will save you time and money in the long run. In-market research should only be undertaken after extensive desk based research. This will ensure that when you first visit the market you will understand how much information you need, where you can most efficiently find it, who should do additional research, and how much it will cost.
Once you have completed your research you will be able to formulate your export strategy. This is an important document that will highlight your business’s strengths and challenges as well as provide a clear road map for launching your product off-shore. It will also become a valuable tool when you apply to external agencies for assistance with your export plans. Remember, your export strategy should be constantly reviewed to reflect changing circumstances both within your business and in the markets in which you operate.
At the NSW Government export website you can access the Small Business Tool Kit for information, quizzes, case studies and interactive export planning tools. The kit is an excellent resource to assist in the process of preparing your business to embark on an export drive.
