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    5 essential tips for a starting exporting company

    You have a great product and you want everyone to use it. Belgium is too small for you, so you are starting to dream of taking your first steps abroad. You start your export project with a lot of enthusiasm, but over time, you notice that conquering foreign markets is not as easy as you imagined it would be. You want to progress, but you don't know exactly what to do.

    The following tips will help you on your way to export success.


    Proper preparation is the key

    You don't start exporting from one day to another. Export activities are the result of thorough preparation. Before you take your first steps on the foreign market, make sure that your fundamentals are right.

    When we say fundamental, we mean
     

    • on the one hand, the structure of your company (e.g., do you have sufficient production capacity to meet any foreign demand, what about the export experience of your employees, is there enough liquidity to do business abroad, what are your USP's etc...), and
       
    • ​on the other hand, the knowledge and choice of the export market (is there room for my product on the relevant foreign market, what is the economic situation in the country, who will be able and willing to buy my product, at what price could I sell it, what are the cultural differences, what are the rules that have to be respected, what are the (legal) risks, etc.).


    A thorough preparation will keep you away from making careless decisions. The fact is that decisions taken on the basis of incomplete information will always cost you the most.


    Surround yourself with people with knowledge and experience

    As a business owner, you have already been around the block a few times and you know how the business world works.

    Yet it is important to be supported by people who have specific knowledge and experience in the business environment abroad. Let the specialists do their job and advise you in advance. This will prevent you from getting unpleasant surprises afterwards. In your home country, choose a specialist who works with local partners (as STARKS does), such as accountants, lawyers, real estate agents, etc.. This is the only way to ensure that you will be correctly advised. After all, they are specialists on the spot who know the rules the best and can therefore help you the most.


    Limit your risks

    Once you are well prepared and have the right people around you, then you can start. But please start small. If the transaction goes well and your product is successful, you can go to the next level.

    Avoid investing too much, both in money and time. You can always expand, but if you have invested a lot and things don't go as well as expected, your foreign adventure could turn you into a serious financial disaster.


    Invest in good relationships with your local partners

    The local people you work with (agents or distributors) know the market and the local customs much better than you do. They can provide you with information that you would otherwise be hard to gather and they can advise you on how to proceed best. Therefore, work to build a relationship of trust with these partners. Consider them an important part of your marketing and business strategy and treat these people right. You will soon see that this is really worth it.


    Keep going

    And last but not least: stick with it, even if it's sometimes disappointing.

    The more export experience you build up, the easier it becomes to achieve success with your company abroad.

    Believe in yourself and just keep going!

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