TEN PROFITABLE TIPS FOR EXPORTERS AND IMPORTERS
Copyright 2012 by Joseph Zodl
P.O. Box 22292, Phoenix, Arizona 85028
1. Trade in products you know and understand. Whether it's sporting goods or diesel locomotives, domestic sales or international sales, you have to know the product to be able to succeed.
2. Learn the basics first. You can't learn everything. Be an expert in your product. Learn the basics of international marketing, payment, and customs. Many community colleges have inexpensive courses. Contact the U.S. Department of Commerce, your state Department of Commerce, and the Small Business Administration. They have seminars and conferences, and can tell you about other resources.
3. Ask for ...view middle of the document...
B) Make sure you're going to get paid for the order.
C) Ship the order.
6. For success in importing:
A) Figure ALL costs, including transportation, insurance, Customs duties, then double-and triple-check them.
B) Pre-sell (have advance orders for) as much of the imported merchandise as possible before you place YOUR order.
7. Add an extra margin into your wholesale price. This will be to cover unforeseen expenses, or be a margin you can "give away" in negotiations.
8. Look both ways. If you're selling overseas, ask your buyer what products he has that you can look at for the U.S. market. If you're buying, ask your supplier what types of products you can supply to him for the market in his country.
9. Don't spend money until you make money. Don't pay for fancy letterheads until you can afford to. Be professional, but be a frugal professional.
10. Sell Quality Products.
(People don't want junk.)
Be Honest. (You stay in business that way.)
Keep Your Word. (Only way to get a repeat order.)
Joseph Zodl is the author of Export-Import: Everything You and Your Company Need to Know to Compete in World Markets, now in its fifth edition . In print for the past 20 years in continuing revised editions, this book is a must for anyone and any company exporting, importing, or thinking about it.
Only $39.99 at bookstores everywhere and at internet book sites.
For prompt shipment, contact the publisher directly:
International Import-Export Institute http://www.expandglobal.com/iiei-press/
19820 North 7 Street, Suite 100
Phoenix, AZ 85028-1689
Call toll-free: (800) 474-8013