Successful export managers do not rely solely on their knowledge and skills in order to penetrate foreign markets and expand globally.
Most probably you are avoiding the serious and viable consideration of selling your products abroad due to questioning your knowledge and skills. You know the benefits of exporting, however, you are still hesitant to engage in international trade. Well, we suggest you must reconsider your position.
Prominent export managers strive to continuously develop a mindset based on three traits. Specifically, these three crucial traits are commitment, adaptability and mental toughness.
Commitment is the fundamental requirement of international trade. First, exporting should not be considered as a short-term solution. Market expansion and development is heavily dependent on creating and nurturing solid relationships with foreign buyers. In this respect, commitment ingrains in itself perseverance and patience.
Exporting is not a one-time process. In this respect, it is of utmost importance to be committed to developing solid relationships with buyers. Furthermore, solid relationships help in increasing your brand awareness in respective countries where the product is exported. Therefore, you cannot fail because there is a lack of consumers. You can only fail if you are not willing to stay committed to building solid relationships and then display perseverance and adaptability to earn the payoffs.
To become a successful international trader you must be able to adjust to new conditions. Adaptability can take two forms: cultural and product. Cultural adaptability refers to the ability to adjust to new conditions trends, and business customs that vary significantly from a country to a country. It is important to note that many business deals have never materialized or failed because export managers did not understand the cultural dimension of the market they were exporting to. Therefore, it is of utmost importance that you research the country and its culture prior to doing business.
Product adaptability is essential to determining your success as an exporter. Fitting a product to serve the market needs of the importing country is essential. In this respect, you should be continually assessing your products in order to consider major or minor changes to fit a foreign market. Successful export managers also take into consideration being flexible on pricing, terms of sales, and customer support amongst others.
The market will constantly throw bad deals and losing trades at you, and you must get back on your feet. Successful export managers know that they must be thick-skinned and that the losing trades are a constant.
As an export manager you should stand firm to a continual barrage of punches from the markets. Therefore, in case of losing trades, you should move on and continue to follow your export plan. In case your loses surpass the profits for a significant time period, stop and re-evaluate the export.plan. Most probably, the market conditions do not serve your interest. In this respect, mental toughness might also mean taking the decision to not export to a particular country.
The mass majority of export managers are not born with these traits. In contrast, they work rigorously on developing these traits. Therefore, to experience the benefits of exporting you should open your personal inventory and work on developing the traits of commitment, adaptability, and mental toughness.