Wednesday, January 2, 2008

Why you should always think about Export

Export is beneficial:
  • it helps spread your bets, especially during economic slowdown
  • it provides a new lifeline for your existing products
  • it could provide faster revenues - you could sell your new products internationally first, while waiting for FDA approvals
  • it helps fend off the impact of both domestic and foreign competition
  • it helps spread your fixed costs
  • when the exchange rate ($) v/s foreign currencies is favorable - as in now! (2008)
  • when you have identified a need in a certain foreign market - you actually need to be actively seeking for new horizons
  • when you can create a need in a foreign market for your product - make sure to adapt your products to the local needs and requirements
  • when your home market gets saturated - ideally, you would have thought about export way before then
  • when you want to learn from outside the borders - you could adapt foreign ideas to your domestic market
  • when it can be beneficial for your domestic launch - may very well support your FDA trials

What are you then waiting for? - Start working on your strategic export plan, today!!!

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