E.X.P.O.R.T. is the new El Dorado!

As GFM Founder was invited to speak at a Port Harcourt, Nigeria Export Conference, it is the right time for Thierry Bayle to highlight the importance to be Export Ready and Export Focused!

Export is this season’s hottest move and it is certainly your future El Dorado!

You know the score: you need to grow your business, but times are tough here. The media is starting rumours about green shoots, but so far, there are no real signs.
So, if you’re serious about developing your brand, exporting is easily this season’s hottest move.

Exporting makes sense because invoicing in a foreign currency can be a real benefit.
By developing international sales, you critical a new set of skills in the company and suddenly, your Team becomes more resilient, adaptable and creating wins all around the world.

It’s all very well advocating export, but without some clear guidelines, it can be a minefield. So here goes the recipe:

E - Execution / Expert
You need to make sure that you have a clear strategy in place & execution skills. The execution and implementation of your export strategy will be the key to your success. Make sure you have spent enough time in preparation and training to get the implementation right. Have a thorough check list of what is to be done and what can be expected. Make sure you get outside help: surround yourself with people who can quickly move you up the learning curve with field experience and sound advice. It will be money well spent. Have an expert on board as nobody knows it all.

X - X-Factor
Does your product have an X-factor, a little “je ne sais quoi”? This X-Factor will act as your unique selling point. In an otherwise conservative collection, it may be having an edgy piece that the press and buyers will all want to see.

P - Preparation
Preparation is vitally important: your export operation can only succeed if you are thoroughly prepared and if you understand what the new market requires and what will trigger agents,  buyers and consumers to take on your brand. You must know how to invoice, ship and collect money. So many questions for which you need answers!

O - Obviously Holistic
The success of your brand is based on a holistic approach.
With this in mind, you need to have the knowledge in-house or from outside partners or consultants to handle design, production, sales, marketing, PR, invoicing, logistics and credit management, both in Nigeria and in the countries to which you are exporting.
If every part of your operation is ready and running smoothly, your brand stands a good chance of conquering each new market. If you are to succeed, you must be able to guarantee that your products can be delivered on time and paid for within a reasonable time.

R - Risk Management
You need to understand, control and anticipate risk. Many manufacturers will commit to give you a quality product on time, but how many actually deliver on that promise? Buyers do not give you trust and loyalty unless you have worked hard.
Logistics must be handled by a fashion specialist logistics company. If the goods arrive late, you may have to grant a 5 to 40% discount to a trade buyer. Even worse, the buyer may decide not to take the goods. Will the consumer agrees to wait 2 weeks for the goods to arrive or will he be willing to pay extra for duty, customers clearance fees and other taxes? If you give credit terms to buyers, you must have a plan to collect money as it cannot be dealt with after the goods have been shipped. 
As your competition will do a poor job, rest assured that you can easily stand out and to every issue, there is a solution.

T - Training
Never underestimate the value of training. Fashion brands need to keep up with new rules, new techniques and new skills. We often see fashion brands who have been exporting to the US for several years still failing to optimise duty payment when shipping goods to the US and therefore wasting significant sums of money in duty. We regularly conduct role plays with clients to ensure that the rules, principles and skills are understood and delivered flawlessly. None of us can afford to miss an opportunity.

So please, bear these points in mind and, above all, make sure you challenge yourself at all times. Bon voyage!

Bonus ideas: Please do not take your eye off the ball and dedicate quality time to marketing and selling whether you work domestically or abroad.

We thank NEPC (Nigerian Export Promotion Council) and AAFAcademy for hosting the event on September 23rd and 24th 2021.