WHY IS PLANNING SO ESSENTIAL?

WHAT IS PLANNING?

Planning is strategically designed model to have a clear vision for execution in the long run for weddings, travelling, business meetings, sports matches, buying a new home, budgeting, investing etc. The more we think and plan it is more easy to execute and more likely to get a fruitful result for all the hardwork we put in.

When thinking of an export business, planning is really essential as we need to keep a track record of several key factors which may cause hassle later, such as company profiling, branding, marketing expense, financial budgeting, importers data management, product or service knowledge, email formats, deal & delivery management. If you have a particular product or services in your mind and you want to boost up your Business globally, we will give you a basic roadmap with the help of which you can start planning and eventually evolve and execute your plan successfully.

PLAN STRATEGICALY TO EXPORT SUCCESSFULLY!.

Why is planning so essential?

• We make a plan to execute and complete a particular task
• The secret behind all the successful businesses and entrepreneurs is their marvelous plan and its implementation.
• Thinking critically and creatively will help you overcome the hurdles in your task and will lead you all the way to success.
• A well thought and organized plan can make your journey hassle free and will assist you to focus on your goal.
• If you want to start or expand your business then you must have a plan to make it successful.
• The more you research, more you move towards perfecting your plan.
• Thorough research and accurate planning can accomplish Victory.

Things to keep in mind :-

1. What is your motive to start or expand your business?
   • What value will it be added?
   • Is the Idea practically viable?
   • What are the pros and cons?
   • What resources will be needed?
2. Do you have the mindset to start something new?
   • Commitment
   • Dedication
   • Focus
3. Have you done your research?
   • Product quality and specification
   • Market trends and demand
   • Processes and procedure to follow
   • Risks involved
4. What will be its effect on your current position?
   • What is the proposed budget?
   • How will be the finances managed
   • Effect on production capacity or sourcing
   • Changes in the workforce
5. What you need to do to convert your proposition into victory?(In short to execute your plan)
   • Prioritizing and Step by step execution
   • Time management
   • Finance management

Let’s see what will our basic plan look like,

1. Where your product can be used and what are the alternatives for that product?
   • Can your product be used as a raw material?
   • Can your product be used in manufacturing any final product?
   • How much quantity are you able to export?
   • Are you in a position to supply bulk orders?
   • Who are your competitors?
2. Which countries to target for your product?
   • Which countries are major importers for your product?
   • Do those countries have any kind of special agreement with your country?
   • Which is the untapped market?
   • What scope do you have in those markets?
3. Is your product up to the mark with standards and regulations of the countries you want to export your product to?
   • Specification
   • Quality
   • Packaging
   • Labeling
4. What are the documentary requirements?
   • Registrations
   • Quality certificates
5. How to market your product in targeted countries?
   • Trade fairs
   • Distributors (Supply chain)
   • Digital marketing
   • Emailing
   • Advertisement
   • Sponsor
   • Friends connection
6. What should be the ideal price for the product?
   • Logistics expenses
   • Taxes
7. How will you manage your finances?
8. How to avoid any mishap?

 What are the Procedures to follow to start an Export business?

Documentary registrations

• Company Registration
• GST registration
• FOSCOS (If dealing in food products)
• Import Export code (IEC)
• Registration cum membership certificate (RCMC)
• Bank Account
• AD code registration
• Web Profile

SOP for Deal finalization

• Importer will send Letter of Intent (LOI)
• Exporter will send Performa invoice (Quotation)
• Importer may ask for sample and/or quality certificate
• Exporter will satisfy the conditions
• Importer will send purchase order (PO)
• Exporter may request for proof of funds (BCL)
• Importer will provide BCL
• Exporter will send commercial invoice
• Importer will transfer the decided Advance Payment on receiving Commercial Invoice.

Product Shipment

• Book the Shipment date from CHA
• Procure and Ready the Product accordingly
• Pack the product following the packing norms in the importing country (as per importer)
• Produce necessary health and inspection certificates as per required by the Importer
• Loading and stuffing the container
• Loading of container into vessel will be arranged by CHA
• BL will be generated
• Container will be transported to destination place/port according to prior agreement.

After works

• Icegate Registration
• Applying for benefits (R.O.D.T.E.P)
• GST returns

Planning plays an important key role in organizing and developing any company or organization to have its vision and mission clear for executing the plan, These are the basic foot steps or planning that needs to be followed to establish a successful export business in the international market.