In general, the arguments for exporting apply across the board to products and services, to manufacturers and associations, to huge corporations and to family businesses. Here’s why.
Increased sales almost always mean enhanced profitability and exporting almost always boosts sales. A global economy multiplies the sales opportunities available to you in the domestic economy. Remember that two-thirds or more of the purchasing power on the planet lies beyond our borders, yet only about 12 percent of the U.S. companies export. Exporting imposes no barriers on your thinking or your ambition.
As a rule, you can charge more for your products overseas. Foreign producers often lack the ability to create and deliver superior goods and services. With appropriate market research and full product testing geared to the anticipated needs of foreign markets, you can build significant profit margins into international sales.
Become More Competitive in Domestic Markets
Familiarity with global competition will alert you to opportunities for modification and development of products. The translation of your experience in foreign markets should help you compete more aggressively against your current competitors as well as foreign firms entering the domestic market.
Extend Product Longevity
Americans are the trendiest people on earth. Their buying habits are at-heart buying whims. Tastes change in this country with a speed and force they do not elsewhere in the world. Remember, even when products lose some of their appeal in the United States, they may still have significant value in the overseas market.
Balance Sales Cycles
The world’s economy, thankfully, does not move in step with America’s economy. Doing business overseas can offset the seasonal fluctuations of selling only in a single market – active competition in multiple markets will lead to repeat business, month after month and year after year.
Increase Economies of Scale in the Production Process
Increased volumes can lead to increased production efficiency, decreased per unit costs and productive use of once idle capacities – very often with current equipment, no new capital investment, and no new need for additional labor.