Business Development
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Transcript of Business Development
Export Readiness& Planning
Export Readiness & Planning
How do you know you are ready to export?
• One simple way is to take the assessment test at http://export.gov/begin/assessment.asp
• Self-assess: Use SWOT and/or Porter’s 6 Forces Analysis
• Must Have Conditions & “Nice-to-Have” Conditions
Export Readiness & Planning
“MUST HAVE” CONDITIONS
Upper Management Buy-In, Commitment & Realistic Expectations
Knowledge & Experience producing & selling product or service
Sufficient Corporate Infrastructure
Solid Cash Flow
Production Capacity & Flexibility to produce international products or provide the service
Export Readiness & Planning
“NICE-TO-HAVE” CONDITIONS
International Expertise
Foreign Language Ability
Cultural Awareness / Sensitivity
Travel to Foreign Markets
Export Readiness & Planning
Export Success
Market Selection
PartnersMarketing
Finance
Logistics
HR
Sales
Product Selection
Entry Mode
Export Plan Components
Export Readiness & Planning
INTERNATIONAL BUSINESS PLAN
Step 1: Who you are Export Readiness Assessment
Selling successfully in USA? Production Capacity? Good Cash Flow? Committed Management? Customer Service Capabilities? Cultural Knowledge? International Logistics Knowledge? International Finance Knowledge?
Self-Evaluation SWOT 6-Forces Analysis
Export Readiness & Planning
INTERNATIONAL BUSINESS PLAN
Step 2: Where are you going?
Foreign Market Selection Reactive – Celebrate the “occasional” fish
on the line Low cost, Easy, Fast Late to the party, outsider, follower
Pro-active – Go after the big fishes with purpose and strategy
Secondary, Primary, Qualitative Data Suitability Indicators Risk Assessment – political, economic,
cultural, legal Free Trade Agreements (FTA’s)
Export Readiness & Planning
INTERNATIONAL BUSINESS PLAN
Step 3: How are you going to get in there?
Entry Mode - It is all about feedback, control, access & infrastructure
Indirect Direct (with & without investment) Joint Venture Licensing
Partner Selection EMC’s, Export Agents, Piggybacking Commission & Direct Reps, Distributors & End
Users
CUSTOMER SERVICE RULES!!!
Export Readiness & Planning
INTERNATIONAL BUSINESS PLAN
Step 4: What are the other factors?
Production Selection VOC International Standards Packaging, Labeling, Product Info After-market sales support, returns
Sales Plan Prospecting Pricing Quotes Competitors Shipping Terms Post-Sales Service
Export Readiness & Planning
INTERNATIONAL BUSINESS PLAN
Step 4: What are the other factors?
HR Plan Internal Resources & Capabilities External Help Training (here & there)
Financial Plan Payment Terms Insurance Currency & FX ROI Capital, Costs & Expenses
Export Readiness & Planning
INTERNATIONAL BUSINESS PLAN
Step 4: What are the other factors?
Logistics Plan Methods Packaging Documentation & Customs Carriers Insurance Regulations & Compliance Visibility in transit
Export Readiness & Planning
INTERNATIONAL BUSINESS PLAN
Step 5: What are your expectations?
Set reasonable goals & forecasts Develop clear & measurable metrics Evaluate your plan periodically
Step 6: Who is doing what and when?
Write down a plan Do your homework Begin small & start promptly
Export Readiness & Planning
Export Success
Market Selection
PartnersMarketing
Finance
Logistics
HR
Sales
Product Selection
Entry Mode
Export Plan Components
Thanks!