How to Start a Successful Import Business Using the Internet
The Internet has opened up a whole new era of business
opportunities. Falling trade barriers combining with easy access
to trade information thanks to the Internet have created dramatic
possibilities and sparked the growth of global online trade in
virtually every area. Many companies are taking advantage of electronic media quite
aggressively by making new contacts, tapping into new markets
and reducing costs with the help of online technologies. Whether you are starting a new import business or planning to
expand your existing business, you too can use the Internet as
your primary channel for getting information, sourcing products
or services, finding suppliers and doing your marketing. Before the Internet era, finding a viable product for importing
was not an easy job! Trade shows and traveling to foreign lands
were the two best options available for getting hands on
information on a product and its supplier. Today, required
information on any conceivable product from virtually any market
is available at your finger tips. Finding a product If you know what you are planning to import, a substantial work
is already done! Otherwise, your first step is to choose a
feasible product or service to import. Whether you are planning
to import a general merchandize or an industry-specific product,
do your homework right. Browse through Catalog repositories, B2B exchanges, electronic
trade boards, trade journals and virtual trade shows to find a
product. If you know the manufacturing country from where the
product is possible to source, check out the country specific
portals and exchanges. Here is a list of high quality electronic
trade boards: For China made products: www.alibaba.com
Sourcing from India: www.trade-india.com
For Russian Products: www.rusbiz.com
Products from Europe: www.europages.com
From South Korea: www.ec21.com For other country-specific or industry-specific B2B exchanges
check out this list:
http://dmoz.org/Business/E-Commerce/Marketplaces/ Your criteria for choosing a product for importing should include: Your prior knowledge of the product you intend to import and its
industry. Your possibility of success increases considerably if
you know the product well. Access to required quantity of this product. If you spend time
and effort in developing a local market for a product and unable
to deliver, you will loose business and reputation. Quality of the product. This is a crucial aspect for developing
a market for any product. Quality of the product should be
consistent with market requirement. High profit margin. As import incurs many expenses that are
specific to this type of business only, prior to import anything,
you should carefully calculate all required expenses and see that
you still make handsome profits. You can check out the sites of
your prospective competitors and make a price comparison to get
initial idea on your products present market price. Finding supplier Once you know ? what you are planning to import ? your next step
is to find a reliable supplier for this product. Emarketplace or B2B exchange B2B exchanges can be a good help in getting suppliers of the
products you are planning to import. The possible steps, you have to take to find a supplier from a
B2B exchange, are listed below. As an example www.rusbiz.com is
used. - Register your company. Often this service is free! - Go to "Advanced Search" - Write your product name in the relevant box - Select required criteria and click on "Search" - You will find a list of companies. - Check out each of them until you find a suitable one. Chamber of Commerce Another option is to contact Chambers of Commerce to find a supplier.
A Chamber of Commerce is an association of companies that protects
and promotes business interests of its members. For a complete list of Chambers of Commerce from various countries
check out this page: http://www.worldchambers.com/CCII/index1.htm. Trade Leads If other methods did not bring any fruitful result, you can
consider posting classified ads in a range of trade boards.
There are many trade boards available on the Internet. While
posting trade leads make sure that you specify your requirement
precisely. A well-written ad will bring much better result. Post
your trade leads frequently until you find a good supplier for your
product. Once you found a supplier that suits you, check him out thoroughly.
Your supplier should meet the following criteria: The supplier company must carry the product for a substantial period
of time. It should have experience in export ? preferably to your country. It should have readily available export references. It should be a reputable company in its country. If the company meets the above criteria get Dun and Bradstreet
report of the company to verify its financial background. Selling imported products Before even thinking about importing a product or service, you
should know exactly who your customers are and how you are going
to sell your products to them. Although, there are numerous ways
of selling a product, selling through the Internet is gaining
ground fast. Selling through your own website Considering the growth of e-commerce, today, any consumer-oriented
product is viable to sell through the Internet. Your success will
largely depend on your ability to market your website appropriately.
Your website should have the following qualities among others:
appealing design, well described product specification with clear
pictures, great content, fast connection, easy-to-use shopping cart
and a good merchant account. Drop ship As a drop ship distributor, you carry the inventory and your joint
venture partners make the sales. Once a product is sold you get
the payment from your partner but ship out the product directly
to the end customer. Selling through distributors Selling through resellers with expertise in your field lowers
marketing and selling costs. If you sell products through a number
of distributors and each of these distributors use diversified
marketing method, your sales potential get multiplied without
spending extra on marketing. E-marketplace An E-marketplace is a business community, where you can expect
to see a large number of buyers and sellers. For a seller it is
a low cost, highly functional and easy-to-use sales channel.
Benefits of selling products through emarketplace also include: - Low customer acquisition cost - Improve customer service - Efficient information sharing method Reduce supply chain cost Entrepreneurs who want to get serious about importing have to
acquire substantial knowledge of the process. Many of the
information needed to carry out an import export business is
available on the Internet. Anybody with enough enthusiasm to
learn can easily find them and use to build a profitable and
interesting business. Nowshade Kabir is the founder, primary developer and present
CEO of Rusbiz.com ? a Global B2B Exchange with solutions to
create e-catalog, Web store, business process management and
other features to run a business online. You can read various
articles written by Nowshade Kabir at http://ezine.rusbiz.com.
Related News
|
 |
|
|
RELATED ARTICLES
Did You Say Free?!
There are books and web sites for the translation of the newest universal language...internet lingo! This is a fascinating new tool that shortens or abbreviates words and phrases for more efficient written communication.
13 Killer Ways To Multiply Your Sales
1. When you make your first sale, follow-up with the customer.
You could follow-up with a "thank you" email. That way,
you could follow-up every few months and build your own
lists and include an advertisement for other products
you sell.
Progress to Success
It was supposed to happen in thirty days. Buy the ebook with the holy grail to online success and then watch life unfold. But that was several months ago.
Having The Right Attitude And Start Becoming A Problem Solver
Do you really want to make money online?
The Niche Website Naming Secret
Today I was optimizing a couple new websites for search engines. I went through my list of optimization techniques. Keywords in page title? Check. Keywords in page headings? Check. Keywords in page file name? Check. Keywords in offsite link anchor text? How could I accomplish that?
How to Profit From Your Ad Space in this Economic Downturn
Recent research predicts that the online ad market will decline by 25% in 2003.**
The 2 Best-Kept Secrets Of The Internet
It's a difficult task creating a website that brings you business. It's a full-time job where things seem easy at first but as soon as you start to explore the possibilities and appreciate the complexity of the task at hand it can soon start taking up ever increasing amounts of your time.
Internet Marketing ? A Maze In A Haze?
Internet marketing, website marketing, call it what you will, can be a bit like a maze. You charge off down one route......dead end. Someone sends you off down another route with a big smile on their face.......another dead end. Another route looks promising.......until it fizzles out and you reach another dead end. You can't cheat by looking over the hedge, it's about 20 feet high! A big ladder so you can get a good view? No, they've all been hidden. None left on the planet! Except those in the vaults of the internet gurus, you suspect.
How Can Multimedia Work For You?
Multimedia here and multimedia there. Is it just a flashy thing you don't need or the reason why your competitors are getting ahead? Today's reality is that people live on a fast pace so their time is important. They watch tv going from one channel to the other, get a satellite dish so they can watch their favorite show on a different time schedule after putting the kids to bed, go through mail as fast as you can count up to 3, surf on the web with an average of 55 seconds spent on a web page, read the newspaper by going through the big titles, etc. It is a matter of facts, today's companies and entrepreneurs need to get the best out of every second a potential customer, or current customer, will spend paying attention to their offer. There are many ways to improve receptivity and develop time saving solutions such as using repetivity and faster technologies but how can multimedia work for you?
Free Content -- or Forbidden Fruit?
Dear Cathy:
Starting an Ad Campaign
Developing an ad Campaign for the Startup E-business
FSBO Upscale Manhattan Co-op -- Only Strongest Offers Entertained
Had I known in 1985 what I know now about Internet Marketing, I would have leapt quickly on the Web instead of dabbling in real estate. Course, I DID learn about a property that was GREAT for my husband and me.
How to Choose an Internet Marketing Strategy on a Shoestring Budget
An Internet marketing strategy is important if you plan on getting your website noticed by web surfers, however getting your website noticed by many people is not so difficult even if you are on a shoestring budget. The reason for this is many of the marketing strategies you need to employ can be done for free if you are willing to put the time and legwork into getting them established. It really is the best way to go if you want to save money. Consider the following suggestions for getting your website noticed by Web surfers worldwide.
Why Niche Marketing Yields Good Profits
Have you ever been told to find your niche? In business, finding your niche can prove both profitable and personally rewarding.
FREE Classified Advertising Tips to Boost Any Business!
FREE online classified advertising - the equation is simple. A business needs to reach out to more and more people on the Internet. Each website has a particular level of visitors, otherwise called traffic. In order to reach out to more traffic, businesses barter Internet online advertising space and thus increase traffic. This way, everybody wins. The businesses are more visible at no additional cost and the customer gets a wider choice of products and services. In addition, partner websites ensure better traffic for better business.
20 Amazing Ways To Jump Start Your Sales
1. Find a strategic business partner. Look for ones
that have the same objective. You can trade leads,
share marketing info, sell package deals, etc.
Money Can Still be Made on the Internet
Even though the days of an IPO generating millions of dollars are gone, money can still be made on the Internet. How can you make money online?
Five Proven Methods For Increased Internet Sales
There are hundreds of ways that you can promote your
online business or website, some more effective than
others. These five proven methods will help you to
generate traffic to your site and also to generate
income into your wallet.
Building Consumer Confidence Builds Sales
Many small online business owners have yet to understand the sheer power that comes from building consumer confidence. They struggle with sales month after month, but still, when someone tells them their site design needs help, they get offended. "I spent a lot of time building my own site!" is the reply.
How To Use the Multiplier Effect in Web Marketing
One of the most exciting things about doing business
online is the Multiplier Effect. It's the principal
factor behind some of the fortunes that have been made
on the Internet.
|