In this Digital world , Getting Information , Knowledge seems to be Damn Easy , As you have access to Articles , youtube vidoes , Free seminar Bla Bla Etc In spite of all these information available on the net Startups face a troubleshoot to get started , That means Everyone wants to learn what is needed to do business , But that isnt Available at one spot . This is the exact reason why i interpret my experience through the articles now and then here !!! So just remember Getting Knowledge and Implementation has to go Hand on hand otherwise you arent going to implement .
Many startups come up to me , asking how do i Get into that particular market ?
MARKET SELECTION & HOW TO VENTURE IN , Is the most easiest thing to understand , Target the Trade deficit countries . Moreover , We have financial constraints which disable us to visit countries and check the market , Today in the digital era you can very well use Exim data to understand markets , Use Indian trade portal . You got to know that XYZ Is the target country , Now in order to intervene into that market you need to understand how that market is operating , Market mechanics , How much is the inflow and outflow of goods in the market , whether the goods is completely consumed in that market or it is re-exported , how much is the requirement , competition level , competition with Low margin exporters , whether that country can procure the goods from other country ( what is the possibility of that ) , what is the risk ( Yea ) , Which brands goes well , what kinda products they can import , what is the restricted products in that country , what is the financial stability of the country , How much is the transit period , Precautions to take while transporting goods .
Once you are able to answer the above questions , Obviously yes when you visit that country for the first time , most people say me why should i visit that country , visiting that country will answer all the above questions and you are also able to get the buyer there in the market .
Most of the startups have a query that i want to send my goods on my brand , just remember if you want to sell in your brand in other country , that country people should recognize your brand , your authenticity , taste etc. In order to have branding go for brand awareness , Go for multiple shipments , prove your quality , taste , effective pricing , then people run back to your brand .
Today 60% of the trade in Exports are Happening on CREDIT ( We should blame us as an Indian we are trading on credit and taking very high for us as well for the country , as there is outward remittances ) Be very careful to check your Buyer on the financial track record. ( This is a Tricky ) Not all Credit takers are there for Fraud business . There is also a Technical reason behind it . I.e the investment what you make in exporting ( Buying goods & logistics expense ) is the same investment he makes it to pay import duty in his country , in this incase buyer will refrain from paying advance or L/C & its a valid reason from his point of view. Now i dont mean ALL CREDIT TAKERS Are Not Fraud ! Yes it depends on the situations ( Only the mis - Handling of situations , false commitments ) Make them for that Fraudulent activity. So check the credibility , Financial Background and then Get started.
Hope this article has helped you for MARKET SELECTION !!
If its worth reading , please share this with your eximpreneurs 🙂🙂🙂
Leave your comment below on your thoughts , any queations please leave it , i will try to answer you !
Cheers
Santhosh Raghavan
Many startups come up to me , asking how do i Get into that particular market ?
MARKET SELECTION & HOW TO VENTURE IN , Is the most easiest thing to understand , Target the Trade deficit countries . Moreover , We have financial constraints which disable us to visit countries and check the market , Today in the digital era you can very well use Exim data to understand markets , Use Indian trade portal . You got to know that XYZ Is the target country , Now in order to intervene into that market you need to understand how that market is operating , Market mechanics , How much is the inflow and outflow of goods in the market , whether the goods is completely consumed in that market or it is re-exported , how much is the requirement , competition level , competition with Low margin exporters , whether that country can procure the goods from other country ( what is the possibility of that ) , what is the risk ( Yea ) , Which brands goes well , what kinda products they can import , what is the restricted products in that country , what is the financial stability of the country , How much is the transit period , Precautions to take while transporting goods .
Once you are able to answer the above questions , Obviously yes when you visit that country for the first time , most people say me why should i visit that country , visiting that country will answer all the above questions and you are also able to get the buyer there in the market .
Most of the startups have a query that i want to send my goods on my brand , just remember if you want to sell in your brand in other country , that country people should recognize your brand , your authenticity , taste etc. In order to have branding go for brand awareness , Go for multiple shipments , prove your quality , taste , effective pricing , then people run back to your brand .
Today 60% of the trade in Exports are Happening on CREDIT ( We should blame us as an Indian we are trading on credit and taking very high for us as well for the country , as there is outward remittances ) Be very careful to check your Buyer on the financial track record. ( This is a Tricky ) Not all Credit takers are there for Fraud business . There is also a Technical reason behind it . I.e the investment what you make in exporting ( Buying goods & logistics expense ) is the same investment he makes it to pay import duty in his country , in this incase buyer will refrain from paying advance or L/C & its a valid reason from his point of view. Now i dont mean ALL CREDIT TAKERS Are Not Fraud ! Yes it depends on the situations ( Only the mis - Handling of situations , false commitments ) Make them for that Fraudulent activity. So check the credibility , Financial Background and then Get started.
Hope this article has helped you for MARKET SELECTION !!
If its worth reading , please share this with your eximpreneurs 🙂🙂🙂
Leave your comment below on your thoughts , any queations please leave it , i will try to answer you !
Cheers
Santhosh Raghavan
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