7 Steps to Success in export business as start up exporter from India
There’s no better time to get started in export business, here’s my top 7 Steps to Success in export business as start up exporter from India to help get you on your way.
Export बिज़नेस में सफल होने के 7 मंत्र | 7 Steps to Success in Exporting | Export Business Training
- Export Legal considerations – Export Mandatory Documentation is important part for Export business.Any one want to start export business and want to become a successful Merchant exporter as well as Manufacturer Exporter than as a start up exporter should focus on Legal considerations or mandatory / required export documents. It will help to make faith on your company by export buyer and it will make your export – international buyer assured about no fraudulent activity carry on here.
- Company – Firm Incorporation
- Import Export Certificate – IEC Code
- Export Promotion Counciles – RCMC
- Goods & Service Tax Registration – GST
- MSME Registration
- FSSAI – Food Licence Registration
- Halal Certificate
- Kosher Certificate Registration
Likewise a complete Exporter profile for different different export products help and enhance your export business.
2. Research your Export – International – Foreign market
Does your prospective foreign customer need what you are selling at the price that will yield you a profit? What is the competition and how will they react?
Decide where to sell – Research is vital! Identify the markets with a little desk research. Find the consumption / import figures of products similar to your own and the economic growth rate of a potential new market. Look up the demographics, cultural and religious practices and your potential competition.
3. Choose a route to Export market – International Market – Foreign Market
You can do one of four options:
1. Sell directly
2. Use a distributor
3. Use a sales agent
4. Create a joint venture.
Whichever option you chose, you must ensure clarity of responsibility for things like delivery and payment and ALWAYS remember to protect your intellectual property.
4. Start marketing For your International business and export products
You don’t need to be a rocket scientist to know how important marketing is in a business’s success. Marketing can become your edge against household brands that are operating in the same niche as your business. Since you will be offering products to a new target audience, marketing your products should be on top of your to-do list. How else can the locals know of your existence?
5. Choose your export company sales presence in Foreign market
Establish whether you need a direct sales operation. Or is an agent or distributor more effective? How will you manage your overseas sales presence?
6. Export payments – Minimum Export Credit Policy and Maximum Export Advance Policy
Ensure your cash flow will remain at a safe level. Guarantee sufficient credit for your future sales. Take out insurance cover if necessary.Try to collect advance payment for your export business because as per international market study most of successful exporter always use Advance payment policy in Export business.
7. After Export sales policy – Export Buyer relation System
Regularly liaise with Export Buyer -customers, export agents and banks. Monitor political unrest or other adverse conditions in the country of destination. Manage regular servicing and warranty claims.
Watch In Deep How you can Become a Successful Start up Exporter –