Strategic Decision: Should I Export?
It’s a big decision. If you are wondering about this, it probably means that you think you may have some real opportunities for exporting. Maybe you’ve seen a competitor do it and you’ve wondered how they decided to do it. Maybe you’ve received inquiries from abroad – so you have proof that there really is a demand for your product or service in foreign markets.
But there are so many factors to consider, you may be wondering where to start. That’s where Central New York’s International Business Alliance can help.
Our Export Consultant, Officers, and Board of Directors have developed a simplified and prioritized Three Stage approach to helping you make the decision to export. As a member, you may choose to engage CNYIBA’s team on any or all of these three service offerings at discounted member prices. Due to high demand, these services are not available to non-members.
- Stage 1: Readiness Analysis (aka Gap Analysis)
- Stage 2: Targeted Foreign Market Analysis using a low cost and structured approach
- Stage 3: Wrap-Up Analysis
Stage 1: Readiness Analysis Stage
During the Readiness Analysis stage we guide you through two Readiness exercises using our Readiness Criteria tables:
- Company Readiness
- Product and Service Attractiveness/Readiness
The outcome of this Stage is the Export Readiness Gap Analysis Matrix with your firm’s quadrant placement. CNYIBA will make recommendations for Gap Closure priorities and will refer you on to appropriate free or paid assistance (under our “I Need Help With the Details of Exporting Program). If the result of the Gap Analysis and Quadrant Placement classifies you as “Good To Go”, or Quadrant 4, CNYIBA can then assist you in the Foreign Market Analysis Stage, explained below.
Stage 2: Targeted Foreign Market Analysis
During this stage we guide you through a low-cost structured approach focusing on how to plan and manage the analysis. We have developed a simple approach that allows you to obtain 80% of the information you need to make a decision on exporting to a chosen market with 20% of the time, energy and cost that most approaches or paid consultants recommend. This simple approach prioritizes your research around 6 key strategic market forces including Suppliers and Competitors, to name just two.
The outcome of this stage is an understanding of the attractions and perils of any particular market you have targeted as your point of entry.
Stage 3: Wrap-Up Analysis / Follow-Up
Having completed both the Readiness Analysis and the Targeted Foreign Market Analysis our Export Consultant can work with you to examine the gaps unearthed during the Readiness Analysis and the risks/rewards associated with the Targeted Foreign Market. The goal – an action plan to close the gaps that dovetails with the urgency and attractiveness of the Targeted Foreign Market and a follow-up plan to track progress, identify roadblocks, and recommend fixes.
At the conclusion of each of these three stages you will have gained far greater confidence in your decision to export or not, as well as a detailed understanding of how long it will take you to get ready, the resources you will need to do so, and the potential risks and rewards of entering your chosen foreign market.
Call our Export Consultant at: 315-470-1800 to set up a meeting, become a member of CNYIBA, get estimates for the stages(s) you are interested in, and start your journey into the world of exporting.