Growing Your Export Business

Vic Hunter
Vic Hunter
Vic is founder and president of Hunter Business Group LLC. He is nationally know
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Jul 16 Revenue Growth 0 Comment


Planning for revenue growth is about retention of existing customers, growing the customers we have, absorption of new products, and acquiring new customers - ideally new customers that look like your BEST customers.  But, what if you could double your businesses by selling your current products and services to customers that may not look at all like your current customers?  Or, maybe they look a lot like your current customers, but you have never heard of them and don’t know how to do business with them.

Welcome to the Global Marketplace

Successful companies which sell globally often receive over half of their revenue from OUS.  Most of the world’s economic growth and the rate of growth is greater outside the US.

I was asked last month to facilitate a meeting of business leaders in SE Wisconsin to explore how to double their export businesses and create 75,000 jobs in 5 years.  As we explored moving ourselves from Non-Exporter to Passive Exporter to Active Exporter to an International Company, several obstacles become threads through the conversation.
 
     


As we further explored these in the context of a growth model, the areas of greatest concern were:
First and by far the greatest challenge is developing a model for “Best Customer”.  Following this are the drivers of loyalty, developing product mix, and developing new products with high absorption rates.
These are further complicated by a lack of a workable understanding of the culture, followed by lack of global standards and lack of trusted relationships with trade partners. 
The business leaders worked the issues and settled on a couple of core areas of focus to move companies ahead.

First, find a trusted partner to guide and help build your business in each region, using the following approaches:
  1. Within your existing industry - partners who sell their product to your customers can tell you whom to trust or not trust
  2. Sales Reps
  3. Economic development agencies
  4. Referrals from existing customers
  5. Word of Mouth
  6. Trust is cemented when things go bad and the partner comes through
  7. College alumni

Second, clearly define your value proposition at the product / service level tied to specific applications within named industries.  Document who are the key individuals tied to those applications and what are their titles.
Yes, maybe it is new for your business.  Yet, becoming a successful exporter needs to be in your growth plan to tap into the world economy.

Greetings to you as a global citizen,
Vic

About the author

Vic Hunter

Vic is founder and president of Hunter Business Group LLC. He is nationally known for his expertise in business-to-business direct marketing and service to the nation's leading companies.

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