Starting a Small Exporting Firm with Little Investment

Exporting seems to be a daunting path for entrepreneurs. But, according to Dennis Hessler of Spyglass Point Productions, entrepreneurs can start an export company from home and on a part-time basis. Hessler joins ‘The Art of Making Business Happen’ to share what he has learned over the last few decades about getting started in exporting.

Hessler indicates that most of the essential tools needed by a small exporter are those needed for general business like a computer, broadband Internet, email account, and accounting software. Hessler says the major tasks involved in serving as an intermediary in exporting, or importing, are researching and communicating.

An entrepreneur entering exporting should expect it to take about an average of six months to get a deal concluded and be paid, according to Hessler. When starting, an entrepreneur needs to focus on executing his or her first few trades successfully more than the size of trades. However, Hessler suggests working with trades that will net at least $5,000.

New exporters may be surprised to find that they can build a local ecosystem to do international business, including clients to represent, banking services, and a freightforwarder. The local chamber of commerce, along with U.S. Export Assistance Centers, are great places to start in order to locate resources, contacts, and services.

And finally, new exporters can be the biggest challenge to themselves by not being prepared. “In exporting, it’s important to have the supplier and your trade team together before connecting with buyers. Trades are lost because small exporters are unprepared and seem unprofessional,” shares Hessler.

To learn more, listen to this episode.