Expanding into international markets is a dream for many small business owners, but navigating the world of exports can be complex and full of challenges. Kathryn Reed, an export expert with over 20 years of experience, shared her insights on the latest episode of The Obsessed View, offering invaluable advice for small businesses looking to take the leap into global trade.

From assessing readiness to avoiding costly mistakes, here are Kathryn’s top tips for finding the right strategy to expand your business internationally.

Step 1: Are You Ready to Export?

Before diving into international markets, Kathryn emphasises the importance of conducting an internal audit. This process ensures your business is equipped to handle the complexities of exporting. Here’s what to focus on:

• Budget & Cash Flow: International expansion requires significant investment. Ensure your finances are stable enough to cover logistics, tariffs, and unexpected delays.
• Infrastructure: Evaluate your team, technology, and operational capacity to ensure they can handle the additional workload.
• Product Viability: Confirm that your product is ready for export, with pricing, packaging, and compliance tailored to your target market.

Key takeaway: An honest assessment of your readiness can save you time, money, and frustration in the long run.

Step 2: Choosing the Right Market

Selecting the right market is critical. Kathryn advises starting with a market ranking report, which evaluates potential countries based on data like demand, competition, and logistics.

For instance, a business might consider factors such as:

• Tariffs and Taxes: What are the import duties and VAT rates for your product?
• Market Demand: Is there proven interest in your category?
• Cultural Fit: Does your product align with local consumer behaviour and expectations?

Kathryn also highlights the benefits of tapping into resources like local Chambers of Commerce or trade advisors to gather essential market intelligence.

Step 3: Plan for the Unexpected

Expanding into a new market is rarely straightforward. Kathryn stresses the importance of creating not just one plan, but multiple contingency plans to navigate potential roadblocks:

• Plan A: Your ideal strategy, focusing on logistics, pricing, and marketing for the target market.
• Plan B: A fallback option to address potential hurdles, such as tariff increases or logistical delays.

Kathryn also suggests building strong relationships with trusted partners, including distributors and fulfilment centres, who can provide local expertise and help manage unexpected challenges.

Step 4: Adapting Your Marketing

Marketing in a foreign country requires thoughtful localisation. While some markets, like the US, are similar to the UK, others—such as Vietnam or China—demand more significant adjustments.

Kathryn’s advice for effective global marketing includes:

• Platform Selection: Identify the social media platforms and online marketplaces most popular in your target country.
• Cultural Sensitivity: Adapt your visuals, language, and messaging to resonate with local audiences.
• Branding Consistency: Decide whether to lean into your product’s origin (e.g., emphasising British quality) or adapt your branding for local preferences.

Common Pitfalls to Avoid

Kathryn has seen many businesses stumble when expanding internationally. Here are the top mistakes she warns against:

• Underestimating Costs: Expanding into a new market often takes more time and money than anticipated.
• Lack of Flexibility: A rigid plan can lead to failure if external factors—like new tariffs or shipping delays—arise.
• Ignoring Local Expertise: Skipping professional guidance can result in costly missteps, from compliance issues to ineffective marketing campaigns.

The Value of Mentorship

One of Kathryn’s key focuses is mentoring small businesses. Many business owners, especially those new to exports, don’t know the right questions to ask or the best partners to seek out. Kathryn’s services help bridge this gap, offering support on everything from market research to finding distributors.

Her advice for small businesses? “You don’t have to do it all yourself. Invest in expertise that saves you time, money, and stress in the long term.”

Key Takeaways

Expanding internationally is a significant milestone for any business. Kathryn’s insights from The Obsessed View highlight the importance of preparation, strategy, and adaptability. By assessing your readiness, choosing the right markets, and investing in expert guidance, you can set your business up for global success.

This post was made possible thanks to the support of Constant Contact. Their marketing platform offers tools like email automation, social media scheduling, and SEO optimisation, helping small businesses reach their customers effectively—no matter where they are in the world.

Ready to go global? Listen to Kathryn’s full episode on The Obsessed View!