Trading has been an integral part of human beings for time immemorial. When we say trading we also mean the trading that happens all around the world. Importing and exporting goods has been so crucial for countries. Right from trading food products to skincare to furniture to So, starting an import-export business can be absolutely profitable for business owners.
Starting any business warrants creating a business plan. It is significant to define your company’s current position, their goals and plans for their company, what they are willing to offer their investors and customers, exhibiting their skills and forte, etc. Importing exporting requires punctilious planning and efficient implementation to achieve desired results. We have pointed out a detailed business plan for you:
First and foremost thing to do is research. Do a lot of it to understand the demand for your product and possible threats you might face. You will also understand if there any barriers for you to enter the market. Besides doing your homework and researching will also help you tweak your product in a better way.
When you listen to your customers, you will know what they want better. Today’s market is all about customers and providing them with what they expect will give you a competitive edge.
3. Go online:
Owning a website and having handles on social media will help you reach your target audience faster. This is a great way to make yourself more visible to your international customers.
Market predictions are equally important as well. Tie up with a company who will do it for you. You don’t necessarily have to do everything on your own. Take help with these things.
5. Provide the right product:
Make sure your product fits your international customer requirements. No point in introducing a product that sells great in your country but does not suit the needs of customers.
6. Customer service:
Planning the right kind of customer service is imperative. Albeit doing an import export business, keeping your customer happy and satisfied is really the key. International or not, customers are the core of your business, so keep them happy.
7. Marketing plan:
Creating the right marketing plan is the key. Only the right kind of marketing plan can result in a proper lead generation in a foreign market. Lead generation can be quite challenging owing to the cultural and geographical differences and also language. Use your facebook and instagram handles to place the right ads to reach the customers that fit your demographics.
8. Financial Plan:
Planning your financials is as important as planning your marketing strategies and customer services. You need to have enough working capital to keep your business afloat. This is especially important as this is international trading and the everyday currency fluctuations and time of payment play a major role. So, working capital is absolutely important.
9. Contingency plan:
Always, always have a contingency plan in place. We can’t stress on this aspect enough. There are uncertainties involved all the time. When a situation arises you need to handle it wisely. So, think of all possible scenarios and be ready to face them.
Above are some steps you can follow to keep your business afloat. Planning things and implementing them will take your business to places. If you want customised business plan for your enterprise, reach out to us and we will give you a thirty minute one on one online consultation which is free.