Strategy is everything when it comes to successful exporting.
Anybody can put a product in a box, ship it across a border andhope for the best. But how can you improve your chances for a greatexporting experience? In "Competitive Strategy and Performanceof Exporting SMEs" (Entrepreneurship Theory andPractice, Volume 27, Issue 3), Pierre-André Julien andCharles Ramangalahy looked at 346 companies to find common factorsof exporting successes.
They studied four factors-firms' exports as a percentage ofoverall sales, growth in export sales, international reputation,and profitability of export sales vs. domestic sales-and found thatsmaller firms with a well-defined export strategy are far moresuccessful than firms that dabble in exporting. Successfulstrategies incorporated export information into regular businessoperations and emphasized developing policies, procedures andsystems for regular exporting.
4th of July Subscription Sale - Unlock this subscriber exclusive article and more for 20% off today.
Access all Entrepreneur content with no ads, unlock discounts, and get exclusive advice only available to our subscribers. Plus, our magazine delivered straight to your door.
Get 20% off an annual subscription today. Just use code SAVE20 at checkout.
Entrepreneur Editors' Picks
Tory Burch Built a Brand Around Empowering Women. Now Her Foundation Is Furthering Her Mission: 'How Do We as a Company Have a Positive Impact on Humanity?'
This Founder Had to Play College Basketball in Men's Shorts and Shoes, So She Launched an Athletic Clothing Company Named After the Now 50-Year-Old Title IX Act
Is Beyoncé's 'Break My Soul' the Theme Song of the Great Resignation?
You're Probably Falling for All of Amazon Prime Day's Psychological Sales Tactics. A Marketing Professor Reveals Them — and How You Can Actually Get the Best Deal.
Comedian Paul Virzi: 'If You're Not Authentic, You Have Nothing'
Struggling to Come Up With Creative Ideas? Try Doing This.
Picking a Winning Emerging Brand Is How You Get Rich in Franchising. Here's How to Spot One.