Page 18 - eBook: EXIM for Beginner

1.3 Export Potential in International Business

Technical Know How and "Technical-Know-Who"

• Social networking, often known as "technical know-who,"
plays an important role in generating sales leads and

closing deals. This asset would have been built over time

by the company's owners or management. Obviously, a
company with ready and valuable contacts has an

easier time succeeding.

• In addition to the above, export ventures are much more
uncertain, difficult, and risky to undertake when there is a

lack of information or knowledge.

Management Commitment, Attitude and Orientation

• In most cases, the relationship you establish in an export

market will take time to mature. As a result, management
and owners must be prepared to take this into account

and remain committed throughout the process.

• It's also critical for management to stick to the agreed-

upon strategy, which includes ongoing marketing
planning and research, as well as obtaining input from

both within and outside the company.Unfortunately, there

are no easy or scientific procedures for determining how

long that much-anticipated export order will take to
complete.

• Potential exporters should do an initial analysis. A

company that is severely lacking in the prerequisites for
exporting should reconsider its plans to export, at least

until it has some or all of the key success factors.