It has been said that there’s “no place like home,” but when it comes to sales growth, that’s not entirely true. Aunt Fannie’s CEO, Mat Franken, recently shared insights on exporting as a viable sales-growth strategy for early-stage startups with Entrepreneur.
Spreading your sales efforts too thin is dangerous for a new enterprise so, as a startup, conquering your own backyard seems a wise first step. Nonetheless, nine-out-of-10 global buyers is located outside of the United States. If your company can immediately benefit from international sales, it’s a topic worth the time and consideration but fully understanding the risks and rewards of international markets is critical.
First, a reality check. Entrepreneurs are challenged to blend long-term strategy with short-term sales targets. Often, it is difficult to reconcile the two but, if done correctly, your product should physically land in international markets 12 to 18 months after you have engaged with your first international buyer.
There are many steps that need to happen prior to buyer engagement, though, so jockeying between your daily domestic sales efforts while simultaneously laying the groundwork for international distribution is smart business. International sales won’t turn on at the flip of a switch. There simply isn’t a substitute for good, solid planning.
Want to know more? Read the full article at entreprenuer.com.