The Promise And Pitfalls Of Exporting Will Make You Tons Of Cash. Here's How!

The potential benefits from exporting can be great. Regardless of the country in which a firm
has its base. The rest of the world is a much larger market than the domestic market. While
larger firms may be proactive in seeking out new export opportunities, many smaller firms are
reactive and only pursue international opportunities when the customer calls or knocks on the
door.

Many new exporters have run into significant problems when first trying to do business abroad,
souring them on following up on subsequent opportunities. Common pitfalls include poor
market analysis, poor understanding of competitive conditions, lack of customization for local
markets, poor distribution arrangements, bad promotional campaigns, as well as a general
underestimation of the differences and expertise required for foreign market penetration.

If basic business issues were not enough, the tremendous paperwork and formalities that must
be dealt with can be overwhelming to small firms.

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