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For those who already have a substantial share of the New Zealand market, it may be a natural progression to move offshore. For others it could simply be that a better market exists outside of New Zealand. Getting ready to export to different countries creates many new and exciting business issues, including learning about different attitudes and cultures. But are you and your business really ready to take this step?

Tuning into local tastes

Hamburger chain McDonald's changed their products for the Japanese market to include 'McChao' a Chinese fried rice. Although the company had offered their American menu in Japan for decades, sales jumped by 30% with the introduction of this product, which catered directly to the market's tastes and customs. As 90% of the Japanese population eat rice daily, this should have been on the menu when the company initially moved into Japan. 70% of their takeaway sales are now attributed to this simple menu change.

This example illustrates how a truly global company did not consider 'local' country tastes, in relation to their menu. The company has since refined their strategy around the world, adapting their global brand for local requirements.

Sometimes, the differences between success and failure are very small, and simple changes can have a huge impact.

Doing business internationally will be entirely different to doing business solely in New Zealand and requires careful planning and thorough research. Take time to analyse the current situation in your home market first, then follow this up with some in-depth country specific research to learn more about the potential risks and benefits. You will then be able to decide how, when and where to make your international move.

Evaluate your starting position

Are you thinking of exporting existing products and services or developing new ones specifically for export?

It's important to evaluate how your business is performing in the domestic market before looking further afield. This needs your honest assessment. A strong performance and market share will often provide the financial backing you need to move into other potential overseas markets. You will then be able to enter these new markets with much more confidence and a good business strategy in place.

An analysis of your home market will provide valuable information. If this market is growing, you need to know why, and to research this in some depth. Is the growth a sustainable trend and likely to continue, or has it a time span with a limited, window of opportunity. And. is this growth pattern happening in the countries you are looking to export to, not happening at all or even declining. Maybe the trend has already passed there.

Decide if the time is right

Where you are now also relates to your own management position, and whether you are personally ready for change. Discussing your thoughts at this stage with your management team and other staff will 'test' the waters and feelings about your new plans. Staff may have to work more flexible hours, in line with different time zones. How adaptable will they really be? Engaging your team from the very beginning and involving them in the decision making process is likely to pay huge dividends later. When real changes start being implemented - whether this is systems, procedures or a change of hours - everyone will already feel part of the new developments.