How to Export: Steps to Success
“It is imperative for us to diversity abroad. There are international opportunities to be had that are unheard of within the US. Although these are a great deal of competitors abroad, with [VEDP’s] trade mission and the contacts acquired, it is safe to say we have a leg up.”
– Virginia Economic Development Partnership (VEDP) Client
Exportability of Product/Service
Is your product allowed to be exported out of the country? Determine your product classification to find out.
Understand Export Regulations
With your export process, do you know which agency regulates your product/service?
“We are months, maybe years, ahead of where we would be if we were trying to make the connections and do the business development on our own. We now have several relationships that have perfect alignment with our strategy and strengths.” – VEDP Client
Select an International Market
Choosing the right market to export to will help determine the success of your product overseas.
Respond to Inquiries
When exporting to foreign countries, the business process can be different. So when learning to respond to and interact with new cultures, here are the best practices:
Financing and Payments
To be successful in international trade it requires negotiation skills, a sales contract and receiving payment on time. Here are four possible modes of payment to ensure that you get your money.
It’s time to ship your product or deliver your service, keep in mind: