What questions should we ask ourselves before making the decision to go abroad? Make an internal analysis of your company. Analyse whether your company is ready to acquire the necessary production capacity to meet new market demands.

To this end, it is important to ask a series of questions before exporting in order to, among other things, find out whether there is sufficient financial capacity to cover the costs, whether the product has sufficient potential to gain a foothold and whether it is suitable for all markets.

My business model (+) Is it viable for internationalisation, or am I getting ahead of myself, and what adaptations do I need to make?

Setting up an export department

It will be difficult to meet all the challenges that lie ahead without an area of export who is responsible for the management of the company abroad. Among other things, it will be necessary to create a website, achieve market positioning, participate in international congresses and trade fairs, etc.

Commitment to innovation 

Companies that internationalise stand out above all because they are innovative and maintain a differentiation, be it in the product or the originality of the article, packaging (see TIP).

Market decisions 

Which countries are to be selected and by what procedure? 

Be aware of the factors that are most likely to affect you: the social, economic, political, cultural or legal factors of the country to which you intend to export. Cach territory has a number of specific particularities that must be taken into account in order to avoid encountering barriers to trade, such as the type of currency or customs laws.

Choose well the countries where you are going to start. Conduct prior research on each selected market. Make sure that there is a market for your products in the selected market and that the selling price will produce a reasonable profit margin. Analyse the competition, and make sure there is enough space in the market to operate successfully. 

• CUSTOMER SEGMENT

How big is the niche market for the product or service you are going to offer?

• TRADE AGREEMENTS

Is there a trade agreement with that country that has included the removal of barriers?

• REGULATION

Are there tax or other regulatory conditions that make it easier or harder to work in the country?

• CULTURAL ISSUES

Am I capable in language skills and in the knowledge and handling of cultural patterns related to the work to be done?

• KNOWLEDGE OF THE TARGET MARKET

Do I have a relationship with the costs and times for servicing activities in that market?

• KEY PARTNERS (+)

Have you had previous social or business relations with people or organisations from that country?

• RESOURCES AND FUNDING

Do you have human and financial resources to allocate to the internationalisation process of your company?

• INPUT MODE

Which will be the most suitable with respect to the type of business, legal form, type of customers or level of service?

• HUMAN RESOURCES

How will the idea of internationalisation affect the company's workforce?

• FINANCIAL CAPACITY

How will the internationalisation budget be financed?

Find the right marketing channel 

The sales channel changes depending on whether a product or a service is marketed. In many cases, a physical presence will be required for the sale, and if so, it is best to do this through a local partner directly. Presence in the country of destination helps to gain extra knowledge about the needs of the market. and to better understand customer preferences.

• PROMOTION

Marketing and communication help to raise awareness of a new brand. There are methods for selling a product more effectively, ranging from the neuromarketing (+), to SEO or growth hacking (+).

• STRENGTHENING INTERNATIONALISATION

Once the company has established itself in the foreign market, it will be necessary to create the figure of the export director and investment may have to be increased to take on the new fronts that open up. The simplified internationalisation plan = CANVAS (+). It sets out exactly how the market will be entered. Make sure your company is ready to go international and allocate a budget to cover start-up costs.

• BUILDS GOOD RELATIONSHIPS

Take the time to understand your target market, including language and cultural differences. Being sensitive to these differences will pave the way for a good business relationship. 

• BE PATIENT

It sees international trade as a long-term process rather than a quick fix. Don't forget that business is conducted differently in other countries than in your own and that it often takes longer to reach an agreement. 

• KNOWS THE COSTS WELL

From exchange rates to shipping costs, everything has an impact on your profit margins. 

• UNDERSTAND THE DOCUMENTATION

Become familiar with all the documentation that needs to be consolidated to comply with customs regulations. 

• PROTECT YOUR CASH FLOW

Agree on payment methods that do not expose you to unnecessary risk. Take out an insurance policy if necessary. 

• CHOOSE A RELIABLE TRANSPORT PROVIDER

A poor quality delivery service can create a bad image of your company abroad. Choose a reputable international operator with a fast and efficient delivery service and its own international network. Make sure your assets are protected.