Exporting: Lesson 1
Josh Brown teaches you seven reasons why you should be exporting.
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What are some of the benefits of exporting for a small business?CorrectIncorrect
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Video Lesson Topics
- More Customers
About 95% of consumers and 84% of spending occurs outside of the United States. If your given product fits the lifestyle and demand of another countries’ interest, then profit can be found internationally with the help of exporting.
- Better Workforce
Companies that export have been found to offer higher wages to their employees. These employees are typically more productive and skilled due to the higher demand they are faced with by exporting internationally.
- More Profitability
More customers lead to increased sales, resulting in more profit for companies. Through exporting, more customers can be reached, thus more profit is gained.
- Improves Cash Flow
Many United States exporters are paid by wire transfers in advance or letter of credit, which results in improved cash flow. These in-advance payments help to not only pay employees for past and future work, but also for producing the products needed to be exported.
- Lengthens Product Lifecycle
Exporting lengthens product lifecycle by developing new customers in emerging markets that do not yet have access to your competition.
- Can Improve Products and Services
Different countries have different preferences, thus creating a need to expand and improve the products and services offered which can result in an increase in sales both domestically and internationally.
- Manages Against Seasonal Slowdowns
Exporting allows you to sell to other markets that are complementary to domestic markets. Markets are typically driven by their seasonal patterns, and by exporting products and services to countries with opposite seasonal patterns, sales can continue to increase.
Topics & Lessons
Each Below Topic Contains a Video Lesson and Helpful Downloadable Information
Benefits and Risks
Export Market Plan
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