Virginia Economic Development Partnership, International Trade - Export 3.0

Export 3.0

Fast Tracking Virginia Companies into International Markets

Exports = New Sales

Companies are looking to increase sales. Looking to global markets to develop new and productive sales channels is an effective approach. VEDP has created a new service, Export 3.0, to focus on the early stages of the international business development process—the face-to-face meetings with potential agents/distributors and customers in a target market. VEDP will provide funds and assistance to organize these meetings. Access to this service is on a first-come-first-served basis for 30 Virginia companies seeking overseas markets.

How it Works

The process includes three stages:
Evaluate VEDP helps you select the top market for your company
Confirm VEDP’s in-country consultant identifies prospective local companies for you to meet
Visit You travel to the market and meet the prospective companies over a 3-day period

Commitment

This service requires commitment from three parties:
1 VEDP commits $3,000 to cover the consultant’s fee and arrange your market visit.
2 The in-country consultant commits to organize 3 days of meetings for you with the right companies.
3 Your company commits to visit the selected market before July 2010.

Costs

VEDP covers the consultant’s fee. Your company pays for air fare, hotel, meals, local transportation, and interpreter.

title-programs

Export 3.0 contact:

Stephanie Tignor
Program Manager
(804) 545-5756
stignor@yesvirginia.org

If you are experiencing difficulty with this web page or find broken links, please contact our web administrator.

Exporting 101

1. Should you be exporting?

Why should a Virginia company consider exporting? Increased sales and profits, for starters. Virginia manufacturing companies sold $11.6 billion in exports in 2006. And Virginia firms exported an estimated $6.5 billion in services 2003. Profits generated by that level of exports can be substantial. Today, Multimodal transportation, computerized and real-time shipping documents, new trade agreements, electronic banking—and the internet—make it much easier for most businesses.

Exporting 101

2. Headline

Successful exporting requires a significant commitment. If you envision selling internationally becoming a part of your company’s sales, then focus, planning and preparation are required. Your company should meet at least two of the following guidelines:

Profitable in the U.S. market
Over 3 years in operation
Specific product benefits
Niche expertise in your professional service

Exporting 101

3. Headline

To evaluate readiness to sell internationally, consider these three major areas:

Management Committment: Senior management must be committed to selling internationally, and must make resources available for a sustained effort.
Financial Committment: It takes capital to export. Upfront costs include international travel, international shipping, translating print materials and websites and sometimes involves training and hiring additional staff.
Time Commitment: It often takes one to three years before a company sees a payoff. Business moves slower in many parts of the world. In addition, selling internationally requires the development of personal relationships with customers and partners.

Exporting 101

4. Headline

If your product/service is in demand domestically, chances are, international customers would value it as well.
Is exporting consistent with company goals?
If your product/service has seasonal cycles, perhaps selling internationally could help level out the sales process, as various regions of the world have different seasonal demands.
"Adjustments" may be necessary for your products or services, such as patent or trademark protection, product labeling, adding metric measurements, or obtaining foreign standards and approvals.

Exporting 101

5. Headline

Virginia businesses that are ready to sell internationally have a competitive advantage— being able to call their local VEDP International Trade Manager for assistance every step of the way. VEDP services and programs (described throughout this web site) are available to Virginia businesses. Visit your local Trade Manager’s web page or call us at (804) 545-5764 to find out which international markets are favorable for your company’s products/services.