Exporting: Organizing your research and ideas

So you have a product that you wish to export. But what do you do now? There are several key things that you need to do to organize your research. In this series of blog posts I will explain a method, there are plenty of ways to doing this, for conducting your research.  The initial stages are very simple and you should focus on two research areas.  How is the product exported from your nation? Where can I export it to?

Can I export my product?

One of the first things you should figure out is if there are any restrictions on exporting your product. The Bureau of Industrial Security might be an initial stop for your research. The Department of Homeland Security and the Department of Commerce can further help you determine if your product can be exported or if there are restrictions on it. Most of the restrictions arise from dual-use items (those that have both civilian and military uses) but restrictions vary.  It is important to do this, you don't want to have your shipment of exports stopped at the port because of export restrictions, you will lose money and will probably not be able to complete your export transaction. The second step  would be to look for any assistance that the government might be providing for exports of your particular product. The Small Business Administration, U.S. Commercial Services and many other government agencies have programs specifically tailored to certain products, if yours falls under this it might make your exporting endeavors a lot easier. This forms the basis of your research, determine what you need to do to get your product through the port and out of the country and determine if the government is willing to help you do this.

Where are my exports headed?

Shipping requires a destination, your products must reach a buyer who is willing to pay a favorable price in order for you to make a profit. The first step is determining the places that you can't export to. The Department of State can be of assistance in determining places where U.S. companies cannot export. Finding a buyer is a little bit trickier. Visiting places such as your local SBDC, trade.gov, U.S Commercial Services Offices, local Chamber of Commerce, foreign trade promotion agencies, etc. are just various ways of finding that essential buyer. The key here is to diversify and use any assistance available.  This requires extensive research and is by far the most difficult part of an export endeavor.  How can I trust the buyer? Will he pay? Do I need to visit the buyer in person before making the deal? Is it a scam? These are just a few of the questions that immediately arise, and these are the questions that your research must answer.  There is always a risk in exporting, as in many business deals, the intent of doing research is not to eliminate risk but to lower its probability by being prepared. Do you want to make sure your buyer pays? Then determine a payment method that will ensure that he pays either up front or when the goods at are the importing port. There are plenty out there, you just need to find one that suits you.

The next entrance in this blog will explain the first step, how to determine if your product can be exported from the U.S

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