29 Oct 2010

Starting a successful business is never easy, and establishing your own exporting company is certainly no exception. I started Addmaster – a Staffordshire based plastics and additives supplier – nearly 10 years ago now on a £5k loan from a grandparent. Three months later, I had paid that loan back. Business is all about perseverance, and taking the rough with the smooth it takes time, careful planning, commitment and most of all, determination.

If you have this then you have the qualities it takes to succeed but where do you start? Here are my five top tips to starting your own exporting business, crack these and you will be on to a winner.

1.1. Plan, Plan, Plan!

Like any start-up business, you need a business plan. This should be your first step as it will give you, and your business a sense of direction and something to measure your performance with. And, yes, you may not be able to plan for everything that will happen on the way, but by setting out a clear, aim-driven plan, it will not only help you clarify your goals but help you get there.

As a starting point, why not begin researching things like how/where you are going to trade, how much money you will need to make, what method of payments you will use, foreign regulations? You need to look at everything, but don’t let this groundwork put you off because it will be worth it in the end.

1.2. Believe in your products

It’s important that you know the products you are selling, so if you have a particular interest in a certain product that you are familiar with, this will bode you well when it comes to selling it effectively and targeting the right markets. Every product I believed in sold well and the ones I didn’t…didn’t.

Don’t be tempted to buy new stock in bulk, yes, you can make excellent savings but be sure you are going to be able to sell it again at your end!

1.3. Embrace the Internet…

…And invest in a good, foolproof website. This will be the face of your business and in the world of import/export this is most definitely a ‘must’ as this is the first place buyers will go to learn about your business, your products and your reputation. Here, you can create an online catalogue of all your products and provide visitors with all the information and contact details they’ll need, but whatever you do keep it simple as nothing puts people off like a page full of jargon and an over-complicated webpage.

1.4. Regulations and Rules

What regulations and rules are in place in your country? What applies to you? The export and import industry, like any industry, is regulated and there are certain policies and systems that will affect you so you need to pay close attention to these in order to stay on top and avoid any potential threatening issues to your business. Start by looking at licensing; do your products need one? Goods such as chemicals, foods and animals etc require a certain license for export

1.5. Seeking Suppliers

In the world of export it is fundamental to your businesses longevity to seek out reliable business suppliers and wholesalers.

When selecting suppliers you should look at factors such as:

- Price; is it competitive or can you haggle this?

- Reliability; Have they been in business for some time? What do people think of them?

- Speed; can your supplier be trusted to deliver your product on time

It’s vital that you pick your suppliers carefully and once you have them, treat them well in order to build strong foundations for the future of your business.

Source - www.weknowbusiness.co.uk, October 2010

Addmaster is Europe's leading supplier of performance additives for a wide range of applications and industries. By working in partnership with its customers and focussing on research and development, highly innovative additives have been created and successfully introduced into many manufacturing environments. Addmaster's advanced products are being used by many of the world's industry leaders in the plastics, paper, paint, textile and coating industries.Addmaster, founded in the year 2000, sees its major objective as capitalising on the lack of innovation which exists in these industry sectors, and has won many business awards for innovations in product development and marketing.

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