Posts Tagged ‘small business management’

If you’re a small business owner you may have considered looking into exporting your goods and services overseas. Exporting is a billion dollar business – when it is done properly. As a small business you will have to rely on the help of a professional exporter to help you get your business up and running. Setting this up is a daunting prospect to say the least, but it can be done and you can turn a nice profit from an exporting business.

The biggest problem with turning your company into an exporter is understanding where to start. It is a very detailed business that requires patience and a lot of hard work to get off the ground. When you have a successful exporting business in place, you could earn a profit of 10% for every transaction that you make. While the process is considerably more complicated and detailed than what we present here, this quick guide will give you an idea of what you need to do to get started.

• In order to be successful in exporting you need to make contacts with manufacturers and distributors overseas that want to trade with you. The best way to do this is to make a list of everyone you know outside of your home country and asking them to aid you in finding partner companies. If you do not know anyone overseas, contact the foreign embassy of the country you want to export to and ask to speak with whoever is in charge of their global trade initiative.

• Once you have made your initial contact start researching the country you want to export to. You need to identify the market niche you are interested in exporting to and research the popular trends that are sweeping the country. This will give you a good look at the viability of the market you are interested in. Make sure you also research aspects of exporting that include any restrictions that are in place, tariffs that may need to be paid and any trade barriers you will have to overcome.

• After you have prepared all of your research and targeted the market you want to import to you can start contacting the list of people you made who could be interested in working with you to build your exporting business. Take your time talking to these people and get to know them well so that you are confident they are the right fit for your business and will make a viable selling partner. At this point you can put into place deals that are agreeable to both of you that include prices charged, the amount of goods to be delivered, distribution to the customers, letters of credits and shipping agreements.

• With an agreement in hand you will need to find a competent exporter to partner with in order to get your goods delivered to your overseas partner overseeing the selling and distribution of your exporting division. Research is key here and most exporters will be able to explain the intricacies of the business to you in order to develop a good working relationship that ensures your products are delivered on time.

In running any kind of business, it’s inevitable that sometimes business will slow down. This might occur due to an upcoming holiday, seasonal variations, weak economy, or uncontrollable circumstances. As a business owner, you have a choice in terms of how you view the slowdown - it can either be a time of increased stress, frustration, worry - or you can view it as an opportunity to upgrade your business processes or improve the quality of your life.

Here are ten strategies you can use to work through a business slowdown:

• Market more concertedly. If you are experiencing a business slowdown, it’s always a good time to create and launch another marketing initiative. It is important to continue to promote your business creatively and cost-effectively.

• Relax. This strategy works if you are feeling good about your business and your accomplishments. Sometimes, time away can help spark creative ideas or profitable insights.

• Get ahead. Look ahead to future months and see if there are any steps you can take, today, that would position you more solidly in the future. This can help you feel more in control as the pace picks up again.

• Invest in additional training/learning. Take classes, learn more about your industry, become even more valuable to your customers by adding new products or services based on your new knowledge.

• Follow up with old/existing customers. Most small businesses focus more on getting new customers rather than retaining old ones. A business slow down is a great time to get back in touch with your customer base to find out what needs they have, to remind them of your service, or to offer them special discounts for reactivating their accounts.

• Offer free samples or giveaways. If your business needs to attract new prospects, use the “slow time” to offer free samples, hold contests, or offer giveaways to bring new energy and potential customers to your door.

• Plan. Take time to review your progress so far, checking it against your goals, and making any necessary adjustments. Use “slow time” to plan for how you’ll tackle new projects, or expand your business or offerings.

• Relate. Use this time to add a little extra to the “bank account” of your important relationships. Spend more time with your spouse, significant other, child, or friends. Put some extra kindnesses into your close relationships - you’ll have more to “withdraw” when you need it.

• Network/socialize. Use “slow time” to get out and meet more people to talk about what you offer, learn what they need, help them connect with appropriate resources.

• Upgrade equipment or processes. During a business “slow down”, it’s a great time to find easier, more efficient, and better ways of running your business. You might upgrade equipment so you can serve customers more effectively.