- Errors in exports that companies make
- Not knowing how sourcing works
- Miscalculate operating costs
- Lack of understanding of the most widespread payment methods
- Missing Market Research Opportunities
- Ignore the possibilities of all sales channels
- Lack of optimal delivery conditions
- Forgetting the relevance of the negotiation process
Today we want to talk to you about the main errors in exports made by many companies that want to internationalize around the world. If you plan to internationalize your business and access other markets, but have certain doubts, this set of mistakes made by exporters will surely help you.
Today from 1top.company we are going to emphasize the enormous difficulties that companies have to internationalize their businesses. To do this, we are going to share with you a list of the most common errors in exports, made by a large part of the companies that want to internationalize their businesses by accessing other markets . Pay attention because not all people really know how to do it the right way.
Errors in exports that companies make
Next we are going to present you a list, so that you can export your business to other markets without making some of the frequent mistakes in this complex task.
Not knowing how sourcing works
Many entrepreneurs and small businesses have great difficulty finding products in the most efficient way possible. This is a frequent fact that becomes one of the errors in exports that you should avoid. This has a negative impact on your import business , since it causes more than obvious limitations.
It is essential that you can find the products you need for your business, with the best possible quality and price. It is important to take into consideration a set of variables such as your relationships with suppliers and the credibility of your brand, among other possible aspects that we consider fundamental.
Today the knowledge about how to source a series of goods in the international arena is of great relevance. In fact, this will be a very relevant competitive advantage for the good performance of your business.
Miscalculate operating costs
An important part of our readers knows the importance of not making estimates in the export of goods. Make sure you know all the costs of your exports in depth, that is, you must calculate every last cent of a euro of these expenses.
One detail that can help you enormously in this task is to have a record, such as a spreadsheet. With this simple trick you will know perfectly which are the products you want to sell and you will understand perfectly the profit margins with which you must work .
Take into account in this process to add the shipping costs, other expenses derived from the storage of the goods, those related to the distribution to your customers, taxes such as VAT , even other aspects such as import duties, for example. Once you are clear about all these types of expenses, you will be in a position to export products with the maximum guarantees, preventing you from losing money.
Lack of understanding of the most widespread payment methods
Among the errors in exports, we could not ignore the one referring to payment methods. Our main recommendation is that you are aware of the different payment methods available for your business . This question is essential, since until you have received the payment, a sale will not have been completed.
There are formulas such as international transfers and payment gateways, for example PayPal, to which a majority of companies , suppliers and freelancers have access . Set aside enough time to research which one is the most interesting for the circumstances of your company.
Missing Market Research Opportunities
Another of the errors in exports that we would like to highlight is that there are many companies that think that their revolutionary product will change the world. As the owner of your business, you may think that your product will practically sell itself, but you must know what your potential customers think about your product.
One of the main tasks as the person in charge of your business is to carry out market research and find out what the opinion of your audience is about your product.
Ignore the possibilities of all sales channels
When you don’t have enough sales channels , this can mean a waste of resources and huge financial losses for your business.
It is not the same that you can send a product directly, for example, to retailers that are located in main streets, than having to use other formulas such as bulk shipments. Depending on these circumstances, you will have to take advantage of some opportunities or others.
One question that can help you in this process is participating in meetings, specific conferences in your sector, promoting your products through talks and, above all, talking to people. With this simple trick you will be dealing with all this series of errors in exports in a practical way.
Lack of optimal delivery conditions
In our list of errors in exports, I would not like to place special emphasis on the terms of delivery. If mistakes are made in this part, the profit margins of your business are very likely to be reduced .
If you want to combat this series of errors in exports, research about the different responsibilities in the deliveries of your products, and try to save as much money as possible to increase your profit margins.
Forgetting the relevance of the negotiation process
It is true that not all people or business owners have negotiating skills, but this is essential when we refer to international trade and also business in general.
We advise you to hone your negotiating skills, always trying to achieve the best possible deal for your business. It will only bring advantages since you will become a person capable of trading successfully, managing your exports in a better way.
If you liked our article on errors in exports , do not lose sight of other posts on our blog .