Thinking Globally Richard England 17 July 2014, London
09:30 - 10:45: Deciding to Export - Defining the Value Proposition • 11:00 - 12:15: Target Customers and Target Markets – Who and Where? • 12:15 – 13:00: Thinking Globally Networking Lunch • 13:00 - 14:15: Marketing & Sales – What and How? • 14:30 - 15:45: Resource Planning • 15:45 – 16:15: UKTI Support Offer • 16:15 – 16:30: Questions and Answers Today’s Agenda Thinking Globally
In concluding statements taken from, International Trade and Investment – the Economic Rationale for Government Support, May 2011, one of the areas highlighted, was the need to change management attitudes and perceptions to the potential risks and benefits of exporting by providing them with the necessary skills, tools and knowledge to be able to plan their strategy with the confidence they have made informed, evidence based decisions. • In the same report, published by the Department for Business, Innovation and Skills, reference is made to the need for careful targeting of companies which displayed the necessary characteristics for long-term, sustainable export growth. These companies, evidence suggested, were those which showed potential to optimize their productivity and innovation and which showed clear intent through their export plan. The evidence also cautioned strongly against encouraging firms to export who lack the qualities necessary for sustainable export success. Rationale for Exporting Why planning is essential
In evidence from qualitative research conducted by OMB Research (2011) on behalf of UKTI suggests that, “active exporting”as opposed to “passive exporting” results in longer-term success and has a direct impact on the attitude of management and staff. • It also aided the setting of sustainable international business objectives. • The research also provided strong evidence to show that a written export plan provided a greater degree of motivation on behalf of potential and existing exporters alike. Rationale for Exporting Why planning is essential
The main aim and objective of this workshop is to allow for full participation of the audience in preparing a major element of an export plan by utilising established management tools to establish what they know, what they do not know, which critical areas of their business need to be focused on and, importantly, what additional support they will need from the GLE and UKTI. Aims and Objectives Why planning is essential
A clearly written export plan offers a number of key benefits: • A well prepared plan is generally easier to communicate to management and other stakeholders and less likely to be misunderstood, especially when allocating tasks and responsibilities to others. This also provides for a better evaluation of results in terms of stated goals and objectives. • Written plans give management and all concerned a clearer understanding of what will be required in terms of financial investment, operational changes, timescales and expected returns on investment and how success will be measured. • As a “living” document, the export plan becomes the company’s commitment to exporting and a statement of intent to finish what it started. • Finally, a written plan will almost certainly be expected if a company is seeking external finance to support its exporting aspirations. Potential lenders will want to see that the business is serious about its intentions and has also considered all the options. Desired Outcomes Why planning is essential
Deciding to Export - Defining the Value Proposition • What are the key drivers behind your decision to export? This workshop will take a look inside your company and analyse the company’s growth aspirations, assess its competitive position and highlight the company’s strengths, weaknesses, unique selling points and total value proposition. The outcome will be a clear understanding why someone in another country would want to buy your product/service. Target Customers and Target Markets – Who and Where? • Which markets do you think would like to buy your product? How do you know? How much do you know about the markets you want to sell to? Do you know how you want to sell and to whom? This workshop will look at the exporting environment and what key influences will determine whom you sell to and where. Export Strategy Formulating an export strategy based on sound information, facts, figures and analysis, increases the chances that the appropriate time, effort and resource will be allocated.
Marketing & Sales – What and How? • What products/services are you going to promote and sell? At what price and how are you proposing to get them to the end user? This workshop will address the critical questions associated with sales and distribution channels and look at the special challenges posed by local competition, cultural differences, import barriers and dealing in foreign currencies. Resource Planning • The decision to commit to an exporting strategy will have a direct impact on your business in terms of time and allocation of resources, especially financial and personnel, as well as the way you think about your business and how it operates. This workshop will look at the internal and external factors that will determine the changes that will be required to ensure sustainable exporting. Export Strategy Exporting is an exciting, dynamic activity which rewards both exporter and customer. Today's global communications, such as the internet, have opened up immense opportunities for export growth and profitability.
What is the company vision driving your international ambitions? • Where do you want to get to and what will it take to get there? • What is your objective for the company and in what timescale do you expect to achieve it? Company Vision Thinking Globally
What is your customer value proposition? What is the measurable value of your offer to the customer? What evidence do you have to support this? • What changes need to be made to your product(s), service at this stage in order to sell into international markets? • How is your product/service and brand protected? • How would you scale-up the delivery of your product or service to meet demand – to what level of demand can it be scaled up to meet? • What level of profit can you expect after you make and deliver your product or service to the market at a competitive price, after taking all costs into consideration? Value Proposition What defines your product or service offering?
Who are your target customers? • Industry sector/s • Target groups • B2B or direct to consumer? • What are the trends, dynamics and statistics associated with your target market and target groups? • What cultural and language issues are relevant? • What is the preferred channel to market? Why? • How will you manage the channel relationships? • How do your customers or channel partners buy, how do they make the decision to buy and who in the company buys? Target Market & Target Customers Are the customers you sell to in the domestic market the same as those being targeted overseas?
Can your existing sales and marketing processes be replicated in overseas markets? • What changes do you need to make in order to sell effectively overseas? • How will you identify new potential customers, qualify them, review them and ensure that the right customers are being targeted at the right time? • Outline the structure, role and responsibility of the sales and marketing team. How will this change in order to win business internationally? • What do you know about your competitors, their customers, sales-force, sales processes, customer incentives, marketing approach, strengths & weaknesses and terms & conditions? • What is your competitive advantage; what evidence do you base this on? Sales & Marketing Considerations Product, Price, Promotion, Place
What resources have you allocated in your budget to fund your international ambitions? • Who is going to be the primary person responsible for generating business overseas? • How much time has been allocated to developing business overseas? • What is your expected time to making your first sale and getting paid for it? • What is your overall financial budget for international development and how is it broken down? • Have all staff been informed of the international intentions of the business? Resource Planning Time, effort and resources
What are the biggest challenges for your company to be successful overseas? • What are the company’s main limitations? • In what areas do you feel you need most assistance? • What are the key risks associated with trading internationally? • How can UKTI help you? Commercial Challenges Do not be afraid to ask for help!
Who you are and what you do is reflected in the content of your company’s website. It is your window of the world. • With the correct optimisation, your website is the most important promotional and selling tool your business has available. • Your website can be and will be viewed by potential customers 24/7, every day of the year. While you are sleeping others will be viewing your profile, products, services and even placing orders. • E-Commerce is serious business and should not be underestimated. Online Presence A poor website can reflect the image of your business. Remember that your website is now the most important promotional and selling tool you have available to you at a cost most companies can afford.
Richard holds a BA (Hons) degree from the University of Glamorgan and is an elected Fellow of the Chartered Management Institute. Having spent more than twenty years living in Europe, the Middle East, Asia and North America working for multi-national companies, and having been a successful exporter on a global level, Richard is well prepared to offer professional advice and assistance to new and existing exporters alike. His work experience includes: • More than five years working as an International Trade Adviser to companies in Wales from 2002-2007, on a government funded programme of business support. During this time he assisted more than 150 individual companies to develop their export promotion plans, as well as working on Strategic Export Development Plans on a sectoral basis. • Extensive senior management experience within the private and public sectors including over three years in Greece working for the Greek government and assisting SMEs to develop their exporting capabilities. • Programme Manager for UKTI’s High Growth Markets Programme – managing a £1.7million UK Government funded initiative supporting mid-corporate companies to develop their market entry strategies for high growth markets: Brazil, Russia, India, China, Malaysia, Indonesia, Vietnam, Singapore, Mexico, South Africa, Qatar, UAE, Saudi Arabia. Richard England Tel: 07765 777672 E-mail: email@example.com www.consultingforexport.net
Richard EnglandInternational Trade AdvisorMobile: +44 (0) 7765 777672e-mail: firstname.lastname@example.org