How to Take Small Domestic Business Globally

2947 WordsNov 2, 201212 Pages
INNOVATION, CHANGE AND ENTREPRENEURS "Is going international something that only large and established firms should pursue after they have achieved success in its domestic market or should entrepreneurs think about international markets 'right of the bat?' which sorts of products are more amenable to going international by small and new firms?" BY : DIVITA AGARWAL Entrepreneurs should think about the international market as “right of the bat”. . VISION STATEMENT NATU DEVELOPERS PVT. LTD is a premier builder & developer of real estate sector in Jaipur. The company has made significant gains and achieved its shorts team goals and objectives. Now looking…show more content…
On the other hand, readiness to seize an opportunity is more important than having your whole strategy nailed down beforehand. Factor 12: Hire a good lawyer, a savvy banker, a knowledgeable accountant and a seasoned transport specialist, each of whom specializes in international transactions. You may feel you can't afford these professional services, but you really can't afford to do without them. Factor 13: Prepare pricing and determine your landed costs. Be ready to test out your price on your customer. See what reaction you get and then negotiate from there. Factor 14: Set up terms, conditions and other financing options. Agree on terms of payment in advance, and never, ever sell on open account to a brand new customer. No ifs, ands or buts. Just don't. Factor 15: Brush up on your documentation and export licensing procedures. If you find it too time consuming, hire a freight forwarder who can fill you in on the spot. Ask a lot of questions. Use their expertise to your advantage. Factor 16: Implement an extraordinary after-sales service plan. The relationship between your company and your overseas customer shouldn't end when a sales is made. If anything, it should be just the start of a long relationship which requires more of your attention. The "care and feeding" of your customers will determine if they keep coming back for more. Factor 17: Make personal contact with your new targets, armed with
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