Some Key Questions to Ask Yourself Before You

Begin Exporting Are:

* Should I expand my company through exporting?
* Do I have any products or services I can export?
* What is the cost of failure?
* Are we prepared for the demand of success?

When you are ready to begin your research, you need to start by identifying the most profitable foreign markets for your products. To get this process underway you will need to classify your product by the HS-Code/Schedule B number found in the Small Business Administration’s export guide or in the export assistance center.

Once you have the HS-Code/Schedule B number, you can then focus in on finding the countries with the markets that will be best suited for your product. This will help you determine which foreign markets will be the easiest to penetrate with the products you intend to export and further define those export markets you intend to focus on.

If you are aware of any U.S. customers or other companies who are doing business with the country you are hoping to export to, talk with them and learn from their experience. Additionally, you can learn a great deal from companies who are exporting, even if their product or industry is different than yours. Often times you can gain good market data through the US International Trade Administration , who also many times has a list of trade associations in a specific industry on their web page.

The following is a list of government resources available to you to help in conducting your research on your international expansion.

* U.S. Export Assistance Centers (USEACs)
* The U.S. Small Business Administration
* The United States Export-Import Bank
* The United States Department of Agriculture
* The United States Department of Commerce and Trade

There are also many resources available that may or may not be tied to the government, but are not considered federal government resources.

These include:

* State Economic Development Offices
* Foreign Embassy Commercial Sections
* Exporters’ Associations
* Trade Associations

With the number of avenues available and the ease of which information can be accessed, you will have no trouble finding and evaluating opportunities for exporting your product or services.

If you haven’t seen it already, Entrepreneur.com has a great article listing 20 things to consider before you take the leap. Here are the first 5:

"Factor 1: Get company-wide commitment. Every employee should be a vital member of your international team, from the executive suite to customer service through engineering, purchasing, production and shipping. You’re all in it for the long haul.

Factor 2: Define your business plan for accessing global markets. An international business plan is important in order to define your company’s present status and internal goals and commitment, but it’s also necessary if you plan to measure your results.

Factor 3: Determine how much you can afford to invest in your international expansion efforts. Will it be based on ten percent of your domestic business profits or on a pay-as-you-can-afford process?

Factor 4: Plan at least a two-year lead-time for world market penetration. It takes time and patience to build a great, enduring global enterprise, so be patient and plan for the long haul.

Factor 5: Build a website and implement your international plan sensibly. Many companies offer affordable packages for building a website, but you must decide in what language you’ll communicate. English is unarguably the most important language in the world, but only 28 percent of the European population can read it. That percentage is even lower in South America and Asia. Over time, it would be best to slowly build a site that communicates sensibly and effectively with the world."

For the rest of them check out "20 Factors to Consider Before Going Global"

Also check out "Preparing Your Business to Enter the Foreign Market" and "Gathering Foreign Market Research" for more information on going global!