Taking your business across the national boundaries is not difficult anymore but gaining success is undoubtedly a real-time challenge. Therefore, in this blog post, the most renowned global trader Mr. Sarwar will be sharing some golden rules of exporting that he learned over the years of his journey in the field of trading.
Today the internet has made it much easier for businesses to seek international clients. So, having global existence for businesses is not something that is beyond the reach of businesses as it used to be. By just having a good website makes your access even easier. However, being an accidental exporter is easy, but being a successful exporter is what businesses want to be.
Having your existence on the internet facilitates you in connecting with international clients but the real game starts when you have to execute the trading process. So, there are a few things that you should follow being an exporter. This includes some policies and meticulous paperwork, and selecting the exporting consultants carefully, that will provide extra safety to your exporting business.
Rule#1: Understand the harmonized system
A Harmonized System or Harmonized commodity description is a coding system that is used with international products. Through an international catalog, a six digit code is assigned to each group of the commodity. Also, the countries do have permission too, to add more digits to the specified product.
So, it is important for international businesses to understand the harmonized system. It is necessary to remember and indicate codes for particular products when dealing with international markets. Businesses might have to face huge losses in case of not understanding the codes. So the best practice is to mention the codes on your commercial invoices. This will help in sending the shipment to the desired destination without having to face any loss.
Rule#2: Identify and understand your market
Once decided to reach the global markets it is important to devise a proper strategy. Hence, before venturing into the international market you need to identify which country you want to target. Do the basic research about how it will benefit your business. The prevailing trade policies in that region and the way they might impact your business. As trade policies are quite rigid in some countries, which directly or indirectly cost your business. You should also make sure the product you are interested in selling to that country is not prohibited or illegal. Also, it should not be conflicting with their religious and cultural beliefs.
Rule#3: Identify intellectual property concerns
Unfortunately, many exporters do not keep intellectual property rights into consideration. Before launching your product you need to protect your intellectual property rights. This will protect your product or idea from getting stolen or copied. It can be done by simply filing the rights of patents as early as possible. It will only benefit you if you will do it early, and you can claim protection by filing it first.
Rule#4: Understand export regulations
Being too abrupt in expanding your horizons without even understanding the pros and cons, with respect to your business is dangerous. This will only tarnish the image of your business instead of benefitting it. Exporting is a privilege, not a right and it gets denied for the people who blatantly violate the trade regulations. Therefore, it is imperative to thoroughly understand the export regulations. This can also be done with the help of consulting firms like Sarwar import-export company that will help you in every step of your trading venture.
Rule#5: Select freight forwarder wisely
The right freight forwarding Company can play a very important role in the success of your business. They help businesses from very scratch to the advanced level of trading. From trade regulations to the customs clearance, and guiding you on every step you take and work closely with the businesses for the safe shipment.
Sarwar Pedawi Import Export Company knows exactly how to turn your dream into reality. Starting from exploring the right markets for your products and services, documentation processes to smooth execution, everything is done meticulously. The entire automated system ensures each and every step is well organized, safely executed, and shipped in the best possible manner. If you are interested in getting your business connected with Pedawi Import Export Company, you can also contact Sarwar Pedawi through Pedawi Facebook and Pedawi Twitter and our team of professionals will reach out to help and provide free consultancy at your earliest.