An export-ready business is one that has the capacity, resources and management to deliver a marketable product or service on a global scale at a competitive price. By answering just 20 questions, get a better understanding of your business’s readiness to begin or expand exporting activities.
Answer yes or no to each of the questions before, tracking your responses.
For a downloadable assessment, click here.
- Have you successfully produced, marketed and sold profitable products and/or services in the U.S?
- Does your product or service have a distinct competitive advantage (e.g. quality, price, uniqueness, innovation) over the competition in your target market?
- Do you have the ability to change packaging, labeling, product features or promotional material to be competitive in the market(s)?
- Do you have the surplus production capacity or available specialists to meet increased demand for your product or service?
- Have you conducted export market research to find and confirm foreign market sales opportunities?
- Have you started marketing your product or service in your target market(s)?
- Do you have an operational knowledge of how tariff and non-tariff barriers may impact market entry costs and time frames?
- Have you engaged the services of a sales representative /distributor / agent, or partnered with a local firm? Or have you any knowledge of existing and reliable methods for in-country sales of your export products?
- Have you obtained top management’s absolute support for and commitment to the company’s export initiatives?
- Does your management have international business experience?
- Does your firm have a good track record of meeting deadlines?
- Do you have the capacity and resources to provide after-sales support and service in your target market?
- Have you ever worked a freight forwarder or customs broker?
- Do you have a free on board (FOB) or cost, insurance and freight (CIF) price list for your product, or a rate list for your service?
- Have you checked if you can sell or use the technology and trade name associated with your product in your target markets without infringing on existing intellectual property (IP) rights?
- Have you drafted a distribution channel strategy?
- Is your existing accounting system adequate for managing your business expenses and income?
- Do you have the financing, including but not limited to cash, savings and access to capital, required to adapt your product or service to suit your target market and to promote it?
- Do you have the ability to manage international payment methods and accounting requirements in the U.S. and foreign countries?
- Do you have the ability to manage required Harmonized Export Codes and documentation that meets U.S. compliance regulations?
How many “Yes” responses do you have?
15-20: You understand the commitment, strategies and resources needed to be a successful exporter. Your company has a foundation to take on global challenge and succeed. The experts at the Idaho SBDC can help you with export counseling, advanced marketing strategy guidance, and export financing. We can also connect you with resources to help you with market-entry and in-market support.
11-15: There are weaknesses in your export strategy and understanding of the market. The Idaho SBDC can provide advice and guidance to further develop your export business plan.
10 or less: Before take on the global front, it’s necessary for you to fortify your home base first. Contact the Idaho SBDC for help on strengthening your business.