When exporting for the first time, you have aspirations and goals for your business. However, what happens when your product or service takes like a duck to water in your new market?
All of a sudden, business is booming, but what if you are not prepared, how do you cope as a business?
As a business, it’s exciting when things take off for your company, it feels good to be successful, however, new challenges arise as a result as well, and you need to be able to deal with them quickly and precisely, in order to maximise the opportunity.
This can include not being able to keep up with demand, or you may be growing fast, however you may not have access to all the income because of slow transactions or payment.
We naturally plan for the worst case scenario – but in the uncertain landscape for the first time exporter, anything can happen so it’s recommended to plan for all scenarios.
But remember – whilst growing can be uncomfortable, it’s a lot more comfortable than shrinking.
Beware of success, but also embrace it
Growth in itself is not bad for a business. It means your consumers like what you are putting out, and you are meeting a demand they have.
At Newable, we have a team of experienced export consultants that can help you plan for success and guide the way into new territories.
For more information on our services click here
For more support, please email us at LifeLessons@Newable.co.uk