4 Steps To Succeed With Your Import-Export Business

If you want to succeed with your import or export business, it is important that you follow a step-by-step process. Whether you are Buyers for Export or import, make sure to study your market and create a plan. These tips will help you create a successful plan for your business.

1. Determine your Market

Both exporters and Importers should do research to determine what their ideal market is. Identify the markets that make the best areas for selling the products you want to deal in. This will require evaluating so many different factors including:

• Demographics
• Culture
• Competition

You are going to need the support of market research firms in coming up with this valuable data. This step is crucial to the success of your business.

2. Create a Plan

Once you have determined which markets you are going to target and you have the essential data, the next step is to create a plan. follow these tips when creating your plan:

• Engage your Team: Get your team engaged in the plan development.
• Capacity: Consider what capacity you have to meet the market demands.
• Knowhow: You should gain as much knowledge about your market. Meet the Buyers for Export, display your products, reach out through trade events, and build contacts.
• Plan Packaging: Determine what design elements are going to appeal to your targeted market. Also ensure that the packaging meets the local legal conditions and doesn't have any conflicts with the culture and law.

3. Find Opportunities

There are different ways in which you can find opportunities in your targeted market. One way is to participate in trade fairs. You can also find opportunities online. Another way is to directly visit and meet potential buyers in your import and/or export markets. Make sure your plan lays out how you are going to reach out to your market.

4. Marketing

The marketing strategies should also be laid out in your exporters or Importers business plan. The internet has simplified marketing but some markets may need more traditional strategies for reaching the audience. Determine the best marketing methods for a market during the research phase.

So follow all these tips if you want to succeed with your import or export business.

**India Export Import Data; Post 2004 as per notification no 128/2004 does not have names of Indian   companies.

**India Export Import Data is available from Jan-2010 to 26th November-2016.