Lara Morgan shares her experience on exporting
April sees the launch of UK Trade & Investment’s (UKTi) Export Week, and thousands of companies will be opening their doors to show the rest of the world why Britain is a great place to do business. While some businesses are embracing exports and taking the world by storm, others are still getting it very wrong, so Lara Morgan is sharing the experiences of her export successes – and failures – to help British businesses get things moving in the right direction.
Lara Morgan is one of the UK’s highest profile female entrepreneurs, having successfully built, grown and sold her international business, Pacific Direct. As the founder of Company Shortcuts, a consultancy dedicated to excellence in sales and leadership, her products, services and exciting events have already inspired hundreds of ambitious business leaders to achieve accelerated growth at home and abroad.
Lara has learned about exporting the hard way, and shares frank and honest insights and tips from her extensive experience, such as:
Get out there
Visit likely territories and find out if there is a market. Companies always look at the negatives of export markets when actually these factors can be quite the opposite – larger orders, upfront payment and growing markets. Plus, an English accent can get you a long way.
Banks aren’t always bad
People don’t realise how good bank financial controls can be, and how willing banks are to help companies minimise export risk and get growth funding for export. British businesses’ approach to law and ethics is respected in nearly every corner of the world, so it is inexcusable not to have a go.
Eyes on the prize
Focus on the bigger margin, larger volume opportunities. By opening accounts with the best client in town you’ll soon have the others following.
There is no need to spend money on expensive overheads. Lead by example, book an economy flight, get out there, do your research, solve problems and learn to sleep standing up – it takes practice but it can be done.
Don’t ship fresh air
Maximise your pallet loads to minimise shipment costs.
Pick your team wisely
Do not put your best people abroad and expect them to succeed fast. Employ locals in local territories – ideally taken straight from your major competitor in that land.
Lara Morgan’s down-to-earth, practical and much appreciated no-nonsense speaking style has won her a loyal following of aspiring and established entrepreneurs all around the world. She is an experienced speaker and is available to offer expert advice and comment on the subject of business and export.
For more information on Lara Morgan and Company Shortcuts, visit www.companyshortcuts.com