Trade makes the world go round. The world is a smaller place, thanks to the way in which import and export has changed. These days, almost everything is available either in shops or by order over the internet. It is, of course, possible to get great bargains if you travel and explore but this is time-consuming and expensive unless you buy in bulk and there are language barriers. People like their shopping to be as easy as possible, which is why they don't mind paying a bit more for their purchases. This is where the importers and exporters come into play.
Import and export is a business you can easily do from home. You need very little to start up, just a computer and some common sense. There are great benefits in working from home, as you can imagine. You can choose your own hours and have great flexibility.
The first thing to do is to create contacts. This is even easier online than offline because you can talk to anyone in the world from the comfort of your home, using the Internet. You can browse online advertisements and buy in bulk using a credit card over a secure site. You can advertise and sell your products online. In fact, in some trading methods, you can buy and sell without even having to receive or ship the products yourself! As with any business, it is important to be efficient, keep perfect records and keep your customers happy. An unsatisfied customer will not return and might criticize your shoddy service on the internet, so don't be a bad trader!
You need a business plan before you begin. You need to work out what you are going to trade, how you are going to trade, how much money you need to make, which countries you want to trade with (if you speak another language, this might help, although English tends to be widely spoken), what method of payments will you use and what about foreign regulations? You need to research everything. Don't let the preparation put you off before you get started. Every new company requires adequate preparation and it will be worth it in the end, once your business is up and running well.
You need to decide what scale your business is going to run on - are you going to work alone, as a partnership or a limited company or something bigger, or will you start small and work your way up?
You should decide what kind of products you want to sell. This depends on what your interests are (it is easier to sell something you can rave about!), what you are knowledgeable about and, of course, what is available. If you buy in bulk, you can make good money but make sure you are going to be able to sell it again this end. If you plan well and are successful, you can make enough profit to cover your travel expenses and earn a good living too.
Thursday, July 29, 2010
Importance of Trade Shows For Your Import & Export Business
Trade shows are kind of business exhibitions, with a focus on some particular industry. Various companies have their booths on display in these trade shows, marketing their business products and services. Visitors can visit the company's booth or stall and collect first hand information about the business and products it offers. Trade show is a great prospect for importers and exporters looking to explore new markets.
Exposure:
Every business needs exposure. Especially the business that has just started, such business cannot have a platform better than a trade show to provide them with sufficient exposure. You will get noticed instantly by your targeted customers and others who may be interested in your business somehow.
Watch your competitors & their products:
You can get a grasp of the competition going around in your industry. You can see the products or services offered by your competitors. It will help you to assess your standing in the market and how you can improve at your services to grab maximum market share.
Reaching out to potential buyers:
People visiting trade shows are potential buyers. They are there to compare between different products, prices and qualities to pick out the best supplier that suits their needs. Every visitor is a business opportunity, seize as many as you can. At the end of the show you can provide your sales staff with lots of leads, and that too of real potential buyers.
Introduce new products:
Trade shows can be a great platform for launching a new product. Observe customer's reactions closely and determine if it will be a good idea to launch it in the market. You can also get some input by visitors on how you can improve that particular product to make it more acceptable for consumers.
Take Surveys:
Use trade shows to get customers comments, remarks and any sort of valuable input on your services. A small take away item or gift can be presented on filling out some survey forms. These opinions and observations can prove to be a great help in transforming your business into a widely accepted one.
Virtual Trade Shows:
Virtual trade shows take place on internet through specific portals, with an open or limited access, depending on their nature. These are quite inexpensive. In case you are interested, you can search on internet to see if there is some virtual trade show, related to your industry scheduled in near future.
Exposure:
Every business needs exposure. Especially the business that has just started, such business cannot have a platform better than a trade show to provide them with sufficient exposure. You will get noticed instantly by your targeted customers and others who may be interested in your business somehow.
Watch your competitors & their products:
You can get a grasp of the competition going around in your industry. You can see the products or services offered by your competitors. It will help you to assess your standing in the market and how you can improve at your services to grab maximum market share.
Reaching out to potential buyers:
People visiting trade shows are potential buyers. They are there to compare between different products, prices and qualities to pick out the best supplier that suits their needs. Every visitor is a business opportunity, seize as many as you can. At the end of the show you can provide your sales staff with lots of leads, and that too of real potential buyers.
Introduce new products:
Trade shows can be a great platform for launching a new product. Observe customer's reactions closely and determine if it will be a good idea to launch it in the market. You can also get some input by visitors on how you can improve that particular product to make it more acceptable for consumers.
Take Surveys:
Use trade shows to get customers comments, remarks and any sort of valuable input on your services. A small take away item or gift can be presented on filling out some survey forms. These opinions and observations can prove to be a great help in transforming your business into a widely accepted one.
Virtual Trade Shows:
Virtual trade shows take place on internet through specific portals, with an open or limited access, depending on their nature. These are quite inexpensive. In case you are interested, you can search on internet to see if there is some virtual trade show, related to your industry scheduled in near future.
Import-Export - 5 Key Market Research Factors
Whether you are approaching the Import/Export (IMEX) game as an export management company (EMC), export trading company (ETC), or trade merchant... a market research plan and execution of it is mission critical to your success and sustainability.
Knowing what the key relevant factors are is the difference between being properly informed to make the best decision or deciding your companies commitments off of guesswork and irrelevant factors.
5 Key Market Research Factors are:
GLOBAL COMPETITORS
- Which other companies (if any) with similar product(s) are targeting the same market?
- Do they have any advantages? If so, what (political ties, personnel from the market, etc,.)?
- Keep asking questions...
LOCAL COMPETITORS
- Are there any existing local companies in your target market with similar product(s)? If so, how many?
- How long have they been operating?
- Keep asking questions...
SOCIAL CHANGES
- What kind of social changes are occurring in your target market that would affect your product(s) success?
- Which changes are trends and which are new models of living?
- Keep asking questions...
SUPPLIERS
- How many potential suppliers do you have currently compiled for your product(s)?
- How strong is your supply chain (fiscally, historically, logistics, ability to meet future demand, etc,.)?
- Keep asking questions...
GOVERNMENT REGULATIONS
- Compile a list of freight forwarders with successful track records in your target market to be called upon.
- Does your home government have any special regulations involving trade with your target country? If so, what?
- Keep asking questions...
Knowing what the key relevant factors are is the difference between being properly informed to make the best decision or deciding your companies commitments off of guesswork and irrelevant factors.
5 Key Market Research Factors are:
GLOBAL COMPETITORS
- Which other companies (if any) with similar product(s) are targeting the same market?
- Do they have any advantages? If so, what (political ties, personnel from the market, etc,.)?
- Keep asking questions...
LOCAL COMPETITORS
- Are there any existing local companies in your target market with similar product(s)? If so, how many?
- How long have they been operating?
- Keep asking questions...
SOCIAL CHANGES
- What kind of social changes are occurring in your target market that would affect your product(s) success?
- Which changes are trends and which are new models of living?
- Keep asking questions...
SUPPLIERS
- How many potential suppliers do you have currently compiled for your product(s)?
- How strong is your supply chain (fiscally, historically, logistics, ability to meet future demand, etc,.)?
- Keep asking questions...
GOVERNMENT REGULATIONS
- Compile a list of freight forwarders with successful track records in your target market to be called upon.
- Does your home government have any special regulations involving trade with your target country? If so, what?
- Keep asking questions...
Learn How to Export and Import Contacts With Microsoft Outlook 2007
Listed below are step by step instructions on how to transfer contacts from Microsoft Outlook 2007 and then instructions on importing them into Microsoft Outlook 2007.
Export from Outlook 2007
Go to your computer that you are transferring the contacts from. Open your Outlook program and click on "File"
Click on "Import and Export"
Choose "Export to a File"
Click on "Next"
Scroll down and choose "Personal Folder File (.pst)"
Click on "Next"
Choose and click on folder you want to transfer such as "Contacts"
If you want to include your subfolders in your contact file check the box "Include Subfolders"
Click on "Next"
Save exported file by clicking on "Browse" and select "Documents" and type in "contacts" under file name.
Make sure you review your options and make any necessary changes.
Click on "Finish"
Import into Outlook 2007
Go to your computer that you are transferring the contacts to. Open your Outlook program and click on "File"
Click on "Import and Export"
Click on "Next"
Choose "Import from another Program or File"
Click on "Next"
Scroll down the window and choose "Personal Folder File (.pst)"
Click on "Next"
Click on "Browse" and select "Documents" and type in "contacts" under file name.
Click on "Open"
Make sure you review your options and choose appropriately.
Click on "Next"
Select folder to import such as "Contacts"
If you want to include your subfolders in your contact file check the box "Include Subfolders".
Choose the folder you want the contacts imported into.
The default is "Personal Folders".
Click on "Finish"
Lisa Olinda has talent in administrative work, added with a love for technology. This talent and love merged to created Olinda Services in 1996. With over 26 years of experience serving the corporate, non-profit and small business sectors, she has proved the success of this merger. The primary focus of Olinda Services is assisting businesses and non-profit organizations with their important administrative needs. These can include anything from daily administrative needs, blog development and maintenance, social media profiles and updates, or desktop publishing. Lisa has extensive experience and background in computers, both Windows and Mac, dealing with many administrative areas any small business may have.
Export from Outlook 2007
Go to your computer that you are transferring the contacts from. Open your Outlook program and click on "File"
Click on "Import and Export"
Choose "Export to a File"
Click on "Next"
Scroll down and choose "Personal Folder File (.pst)"
Click on "Next"
Choose and click on folder you want to transfer such as "Contacts"
If you want to include your subfolders in your contact file check the box "Include Subfolders"
Click on "Next"
Save exported file by clicking on "Browse" and select "Documents" and type in "contacts" under file name.
Make sure you review your options and make any necessary changes.
Click on "Finish"
Import into Outlook 2007
Go to your computer that you are transferring the contacts to. Open your Outlook program and click on "File"
Click on "Import and Export"
Click on "Next"
Choose "Import from another Program or File"
Click on "Next"
Scroll down the window and choose "Personal Folder File (.pst)"
Click on "Next"
Click on "Browse" and select "Documents" and type in "contacts" under file name.
Click on "Open"
Make sure you review your options and choose appropriately.
Click on "Next"
Select folder to import such as "Contacts"
If you want to include your subfolders in your contact file check the box "Include Subfolders".
Choose the folder you want the contacts imported into.
The default is "Personal Folders".
Click on "Finish"
Lisa Olinda has talent in administrative work, added with a love for technology. This talent and love merged to created Olinda Services in 1996. With over 26 years of experience serving the corporate, non-profit and small business sectors, she has proved the success of this merger. The primary focus of Olinda Services is assisting businesses and non-profit organizations with their important administrative needs. These can include anything from daily administrative needs, blog development and maintenance, social media profiles and updates, or desktop publishing. Lisa has extensive experience and background in computers, both Windows and Mac, dealing with many administrative areas any small business may have.
Career in Business Administration in The Import and Export Industry
Gone are the days when most of the businesses were one-man army. The owner would keep himself busy looking after most of the business affairs and stay content with doing that only. He was happy to have a strong control on his business activities and smooth operations; expansion was a slow and unintended process. Business Administration and Import / Export were not the common terms.
This is not the case today. Businessmen or businesswomen today are smarter and faster than before. They do not just set off on their journeys without deciding about the destination first. They set targets and chase them with all their might. They do not believe in doing things themselves but have faith in delegating responsibilities and believe in getting works done, in stead. This is where the new roles for Business Administrators emerge.
In current ever growing business environment, there is a great demand of efficient trained Business Administration experts and personnel who can look after day to day business activities, in any given office, independently and efficiently and spare their bosses valuable time to concentrate on core business activities, in stead of involving petty routine affairs.
The good thing about Business Administration skills is that they can be learnt by anyone and practiced in real life. Yes, there are many good colleges and institutes which are running Business Administration courses for individual job aspirants in this field. There are short-term and long-term both the courses which can be joined by individuals. For example MBA is the long term course which may take anything from 1 to 3 years time. Likewise there are Business Administration Courses which may be completed in 52weeks or so and are competent enough to get you a good job on completion.
Globalization is an implied term in businesses today. Internet has made it possible even for small businesses to expand their horizons globally and explore new business prospects. Thus the new age Business Administrators are also expected to possess international trading skills and knowledge of Exporting, Importing, International Marketing, and Finance etc.
The skilled and trained professionals, who have knowledge of Import / Export process get chance to travel globally for business promotions and often get into high profile jobs with excellent income opportunities. The students who can complete an all round Business Administration course from a reputed college or institute become eligible to get a good job with the firms engaged in Exporters, Importers, Trading Houses, Banks, and even with Government Agencies. The trained and experienced candidates may explore possibilities as entrepreneurs and take their business to new heights. They may also decide to take charge of their traditional family business and take it to new heights with their newly acquired knowledge and skills.
Attending a Business Administration training program from a reputed business school will equip you with knowledge of local business administration, international trading, Import / Export, accounting fundamentals and global business practices. You also get acquainted with Legal Matters, Finance, Business Plans, Marketing, Sales, Research, Business Technology, Manufacturing and Human Resource related issues and solutions. You, no doubt, grab the attention of higher management with your exceptional management capabilities and ensure your way to success.
This is not the case today. Businessmen or businesswomen today are smarter and faster than before. They do not just set off on their journeys without deciding about the destination first. They set targets and chase them with all their might. They do not believe in doing things themselves but have faith in delegating responsibilities and believe in getting works done, in stead. This is where the new roles for Business Administrators emerge.
In current ever growing business environment, there is a great demand of efficient trained Business Administration experts and personnel who can look after day to day business activities, in any given office, independently and efficiently and spare their bosses valuable time to concentrate on core business activities, in stead of involving petty routine affairs.
The good thing about Business Administration skills is that they can be learnt by anyone and practiced in real life. Yes, there are many good colleges and institutes which are running Business Administration courses for individual job aspirants in this field. There are short-term and long-term both the courses which can be joined by individuals. For example MBA is the long term course which may take anything from 1 to 3 years time. Likewise there are Business Administration Courses which may be completed in 52weeks or so and are competent enough to get you a good job on completion.
Globalization is an implied term in businesses today. Internet has made it possible even for small businesses to expand their horizons globally and explore new business prospects. Thus the new age Business Administrators are also expected to possess international trading skills and knowledge of Exporting, Importing, International Marketing, and Finance etc.
The skilled and trained professionals, who have knowledge of Import / Export process get chance to travel globally for business promotions and often get into high profile jobs with excellent income opportunities. The students who can complete an all round Business Administration course from a reputed college or institute become eligible to get a good job with the firms engaged in Exporters, Importers, Trading Houses, Banks, and even with Government Agencies. The trained and experienced candidates may explore possibilities as entrepreneurs and take their business to new heights. They may also decide to take charge of their traditional family business and take it to new heights with their newly acquired knowledge and skills.
Attending a Business Administration training program from a reputed business school will equip you with knowledge of local business administration, international trading, Import / Export, accounting fundamentals and global business practices. You also get acquainted with Legal Matters, Finance, Business Plans, Marketing, Sales, Research, Business Technology, Manufacturing and Human Resource related issues and solutions. You, no doubt, grab the attention of higher management with your exceptional management capabilities and ensure your way to success.
China - The World's Leading Exporter
China is one of the oldest continuous civilizations and is considered as one of the largest and the most advanced civilizations in the world. Probably because China is a country where its citizens are united, its economy has boost into becoming the world's third largest in the world. Shortly trailing after Japan, the Gross Domestic Product of China is measured at $4.91 trillion. As such, China is considered as the world's fastest growing economy for the past thirty years. Aside from this, China is also the largest trading nation in the world. While it is also the world's largest exporter, it just ranks second largest importer of goods.
One of the leading export products of China are minerals. These minerals include tin, magnesium, antimony, molybdenum, mercury, barite, manganese, and salt. The worldwide demand for China's minerals is so great that it becomes one of the world's top producers of antimony. Moreover, it ranks second to the United States in the production and export of salt. In addition, the world's largest exporter of aluminum is also China. Indeed, China has established itself firmly in the global trade.
The biggest beneficiary of China's exports is the United States. In fact in 2006 alone, China was able to export $287.8 billion worth of products and merchandise to the United States. As such, the United States is considered as the number one trader for China's exports. From among China's exports to the United States, computer parts, peripherals, and accessories have the highest value. Other exports include computers, toys and sporting goods, household goods, video equipment, and household furniture among others.
On the other hand, the United States imports a number of products to China as well. The main exports of the United States to China basically composed of industrial products, and some commodities. The largest imported product s to China is semi conductors. Other imported products include soybeans, computer accessories, copper, aluminum, industrial machines, plastic products, raw cotton, civilian aircraft, and steelmaking material. Moreover, China also imports from the United States precious metals, railway transportation equipment, tobacco, corn, oil seeds and food oils.
China has not only invaded the US market, but the rest of the world as well. It is already very common to see a China counterpart of almost any product in the market today. In fact, most people even prefer China products because these products are significantly cheaper and are also of good quality. Contrary to the misconception that China products are cheaper because these are of less quality; these products would certainly be of lower costs because labor costs in China is way cheaper than in any other part of the world. Undeniably, China exports have conquered all parts of the world.
One of the leading export products of China are minerals. These minerals include tin, magnesium, antimony, molybdenum, mercury, barite, manganese, and salt. The worldwide demand for China's minerals is so great that it becomes one of the world's top producers of antimony. Moreover, it ranks second to the United States in the production and export of salt. In addition, the world's largest exporter of aluminum is also China. Indeed, China has established itself firmly in the global trade.
The biggest beneficiary of China's exports is the United States. In fact in 2006 alone, China was able to export $287.8 billion worth of products and merchandise to the United States. As such, the United States is considered as the number one trader for China's exports. From among China's exports to the United States, computer parts, peripherals, and accessories have the highest value. Other exports include computers, toys and sporting goods, household goods, video equipment, and household furniture among others.
On the other hand, the United States imports a number of products to China as well. The main exports of the United States to China basically composed of industrial products, and some commodities. The largest imported product s to China is semi conductors. Other imported products include soybeans, computer accessories, copper, aluminum, industrial machines, plastic products, raw cotton, civilian aircraft, and steelmaking material. Moreover, China also imports from the United States precious metals, railway transportation equipment, tobacco, corn, oil seeds and food oils.
China has not only invaded the US market, but the rest of the world as well. It is already very common to see a China counterpart of almost any product in the market today. In fact, most people even prefer China products because these products are significantly cheaper and are also of good quality. Contrary to the misconception that China products are cheaper because these are of less quality; these products would certainly be of lower costs because labor costs in China is way cheaper than in any other part of the world. Undeniably, China exports have conquered all parts of the world.
Implications of the "Incoterms" in International Import & Export
Communication is crucial in international import & export, where both buyers and sellers are located a long way away, there's every chance of misunderstanding in the interpretation of various terms used in contracts and agreements. These confusions and misapprehensions can cost one or both parties, dearly. What sounds pretty simple and straight-forward to a buyer sitting in United States, could turn out to be a perplexing one for the seller in China.
This problem continued to exist and resulted in many mix-ups and losses until the International Chamber of Commerce set down "Incoterms", which is a set of 13 terms, referred as
1. EX-Works
2. FOB (Free On Board)
3. FCA (Free Carrier)
4. FAS (Free Alongside Ship)
5. CFR (Cost and Freight)
6. CIF (Cost, Insurance & Freight)
7. CPT (Carriage Paid to)
8. CIP (Carriage and Insurance Paid to)
9. DAF (Delivered at Frontier)
10. DES (Delivered Ex Ship)
11. DEQ (Delivered Ex Quay)
12. DDU (Delivered Duty Unpaid)
13. DDP (Delivered Duty Paid)
Businesses can choose any of these 13 terms according to their own needs and requirements. For example, "Ex-works" inflict the minimum liability for seller; on the other hand "Delivered Duty Paid" makes it obligatory for the seller to arrange for almost everything including export duty expenses, loading and unloading expenses, landing charges, transportation, insurance and custom clearance. Incoterms are not applicable to all aspects of trade, however they do standardize most of the terms used in international trade. For example, they spell out the terms of delivery in detail, and establish the responsibilities for buyers and sellers as to who will bear the expenses of insurance, clearance or various other taxes. Another important implication of "Incoterms" is the reduction (or removal) of uncertainty about the transfer of risk.
As an exporter or importer, you need to spend some time on understanding each of these 13 "Incoterms" and their explanations given on the official website of "International Chamber of Commerce". Each of them is an agreement in essence, with predetermined terms and condition, for that reason each of them has got different advantages and disadvantages. After a careful study, maybe you can underline the best ones and then stress on using that particular Incoterms when getting into an agreement with some buyer or seller. Incoterms are acknowledged all over the world (by courts, governments, etc); therefore a good comprehension of all of these terms is a must for all international exporters. Remember, ICC keep making minor changes (not very often though), it's important to keep a track of these modifications.
This problem continued to exist and resulted in many mix-ups and losses until the International Chamber of Commerce set down "Incoterms", which is a set of 13 terms, referred as
1. EX-Works
2. FOB (Free On Board)
3. FCA (Free Carrier)
4. FAS (Free Alongside Ship)
5. CFR (Cost and Freight)
6. CIF (Cost, Insurance & Freight)
7. CPT (Carriage Paid to)
8. CIP (Carriage and Insurance Paid to)
9. DAF (Delivered at Frontier)
10. DES (Delivered Ex Ship)
11. DEQ (Delivered Ex Quay)
12. DDU (Delivered Duty Unpaid)
13. DDP (Delivered Duty Paid)
Businesses can choose any of these 13 terms according to their own needs and requirements. For example, "Ex-works" inflict the minimum liability for seller; on the other hand "Delivered Duty Paid" makes it obligatory for the seller to arrange for almost everything including export duty expenses, loading and unloading expenses, landing charges, transportation, insurance and custom clearance. Incoterms are not applicable to all aspects of trade, however they do standardize most of the terms used in international trade. For example, they spell out the terms of delivery in detail, and establish the responsibilities for buyers and sellers as to who will bear the expenses of insurance, clearance or various other taxes. Another important implication of "Incoterms" is the reduction (or removal) of uncertainty about the transfer of risk.
As an exporter or importer, you need to spend some time on understanding each of these 13 "Incoterms" and their explanations given on the official website of "International Chamber of Commerce". Each of them is an agreement in essence, with predetermined terms and condition, for that reason each of them has got different advantages and disadvantages. After a careful study, maybe you can underline the best ones and then stress on using that particular Incoterms when getting into an agreement with some buyer or seller. Incoterms are acknowledged all over the world (by courts, governments, etc); therefore a good comprehension of all of these terms is a must for all international exporters. Remember, ICC keep making minor changes (not very often though), it's important to keep a track of these modifications.
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