This course is designed to help you understand how to build relationships in order to develop and expand your business into new markets while still maintaining your domestic business.
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How do I make my export business sustainable?
To build a sustainable export business it is important to capitalise on your investment by developing your first overseas market and expanding into additional markets.
This module will help you:
- Understand the need for planning further business development and growth once your first export market has been established
- Learn how to build and maximise a strong relationship with your new overseas agent or representative.
- Develop other new markets
- Learn the importance of maintaining your Australian domestic business
Getting your first order or appointing your first agent is just the beginning in the development of your overseas market. It is very tempting to sit back, relax and think that your market entry efforts have been rewarded and that a stream of orders will now follow. The reality is that it is only the beginning.
Unless you develop and implement a comprehensive strategy for following through and developing your newly-established market, you risk wasting all the time, money and effort that you have invested in developing your new export market.
Planning for sustainability
Make sure that you plan for the long term and not just the first sale. Your initial export development plan should incorporate a plan for sustaining and building on the market once you have achieved your initial entry.
If you do not carefully plan and carry out long-term market development and consolidation activities, you will risk losing the total investment you have made in exploring and entering your export market. You might not get a second chance at entering a market if your first entry effort has failed.
Getting your contact committed
The key to sustaining your overseas market is getting your overseas contacts committed to developing your business in their local markets:
- The more effort and investment your new representatives or agents need to put into developing your business successfully, the more likely they are to be interested in doing it.
- Make your overseas contacts, players in your team to help grow your business.
- Developing a promotional plan and budget with your representative.
- Arranging a visit to Australia by your Agent, your representative or key clients.
- Setting up training for your overseas partners.
- Visiting the, market frequently to further build and strengthen all your relationships.
- Get to know your end-users. They can give you feedback on the performance of your agent/distributor and unbiased information on your competition.