Import Export Business Questions & Answers

The following is a list of Questions from someone who was considering the Import and Export business and my answers to those questions (NOTE: the questions are numbered and my answers are preceded by several asteriks)- one point of reference - I refer to "absolutes" quite a bit - giving an an "absolute" is an impossibility when it comes to starting and succeeding in a business:

AS i'm doing my due diligence search i have some questions about the import and export Business.

1. Between import and export, which one will give me a quicker result? I understand it might be up to my speed and learning ability, but give me an average: which one of the two gives better and quicker result, i know i cannot do both at the same time, i'm trying to see which one of the two that i should try first.

**** Your first absolute which I cannot provide - each business is different - each person entering these two businesses are different and bring with them different personalities, backgrounds, abilities, and resources. Personally, I feel (not an absolute) that there are more opportunities within the exporting business, especially right now with the US dollar being at historic lows - this makes our (USA) goods less expensive to buy by foreign importers.

The exporting business also offers (in my opinion) more opportunities to work it indirectly, i.e., without buying the product with your own funds or legal financial obligations. Both the course publisher and I recommend that you start out working as an export agent or broker where you match buyers to sellers, after you have an agreement with the seller to pay you a commission. In my many (almost 20) years in this business, I have not seen many (if any) similar opportunities to work the importing business as an agent or broker.

Most often in importing, you have to put money out for the goods and be totally responsible for their shipment, then the marketing, sale and shipping of those products.

2. Once i order the import or the export package for the price listed on importexporthelp.com websites, is there any other money that will come out of my pocket soon or later. I'm trying to keep up with my budget, i don't want to order either package, then later i find out that i cannot keep up with the business because i'm short on cash.

**** There is only one other resource that we offer that I recommend - a subscription to the online Export Leads service as described here: http://www.importexporthelp.com/trderl4.htm

I think you should have a dedicated fax number but that does not mean you need an extra phone line - as a bonus when you order the Exporters Master Package - I send you some agreement formats, a letterhead format and some information on resources I use in my own business, such as a dedicated fax number that emails me my faxes and only costs $34 a year (not month, a year). Beyond that would be your phone bill and I can give you the name of my long distance service if you like - I have been with them for about 8 or 9 years now because they have the best domestic and international rates I have found.

3. i'll be willing to do whatever it takes for that business to work, i have tried so many other online businesses, they were not working for me, but this one will: That's why i'm doing all the possible research before i get deeper to it. Would you tell me about how much time i will need to spend on the business (weekly).

**** Another absolute - sorry but I simply cannot give you an answer - no one can and if they do, get it in writing, signed and dated.

4. how guarantee is the business for everybody who do what they suppose to do, including research and all that. Does this Business requires for you to have luck.

**** Another word for guarantee - absolute - patience, persistence, perseverance, tenacity - all go into your ability to succeed in this business or any business - I am quite frank here, if you are looking for guarantees and absolutes, then you probably should never go into business for yourself.

5. How many transactions can you hit in a month after you get used to the business? Can you do more than one transactions at the same time?

**** Working the business as an agent or broker, I would encourage you to be working on several possible deals (if you have the time) not every (for that matter, not most) deal will come to fruition. I live in the Pennsylvania dutch area and they have a saying around here - "dont put all of your eggs in one basket" - the same goes for starting out and building your business - dont get so focused on one deal that you ignore other potentials, but by the same token, don't get spread too thin by trying to do too many. How many is too many, when you do not have time to follow up with what you need to do to see even one come to fruition.

6. is it going to take me 3 to 6 months to learn the material or is ti going to take me 3 to 6 months before i make my first cash.

**** Sorry, another absolute - too many variables are in play - you, the marketplace(s) you choose to pursue, your ability to communicate, whether over the phone or in writing or possibly in person. How can I be a judge of that? Sorry, but I will say that minimally, if you were successful on your very first deal, you would still be looking at 3-6 months before you would collect your commission from the manufacturer - simply, it takes that long for everything to process through, i.e., shipping, negotiation, customs, payment by the buyer, etc..

7. I know i'm going to have to reinvest some of my profits into the business, how would i be able to do that?

**** Working the export business as an agent or broker really does not require a lot of reinvestment - a phone, fax (which you can do with software in your computer) , fast internet connection, these are the basic tools, except for maybe this - I do recommend that if you get a manufacturer to sign you on as their export agent/broker (one of the hardest parts of the business actually) - then I recommend that you use every means possible to promote the manufacturer's products, but in a generic manner so the potential buyer(s) have to come through you to learn more. I strongly recommend you develop a web site that promotes these various products in a generic manner, under your name or your business name and use either search engine optimization or pay per click advertising to promote their products. Most manufacturers allow you to use their product pictures, etc on your web site since you are helping to promote their products, even though generically.

Hope the above Q & A's will help you make a more informed decision about the Import Export business and whether you are ready to make the investment of time and money required to get started.

Ron Coble
Coble International Business Services
http://www.importexporthelp.com/

Import Export Business And The Economy

Question:

I am going to order your program next month, but I was wonder, if the economy is such a crappy mess, is Import/Export Business hard to get into?

Answer:

Thanks for the opportunity to answer your question. It is one that
I thought I had answered this question in one of my blog posts but
upon reviewing it this morning it does not appear that I have done so.

I will try to keep my answer from getting political, but it is difficult
not to reference some of the reasons our economy is in the mess
it is in.

First, let me address your basic question. Is the Import Export
business hard to get into?

The quick answer to your question is Yes, it is a hard business
to succeed in whether the economy is good or bad.

In fact, it is hard to succeed at any business at any time and
the economy does play a role in how difficult it will be and
right now, it is much, much more difficult to succeed in ANY
business.

The fact that this business, or any business, is difficult to
succeed at is a fact the "hype" masters of the Internet and
opportunity magazines seem to ignore. It can best be summed
up in a Chinese proverb I just posted last night in our
Import Export business blog - the proverb is this -

“Fish see the bait, but not the hook. Men see the profit, but not the peril.”

International trade or trade between businesses in different
countries has been going on since the beginning of mankind.

There have always been obstacles placed in front of them and
these obstacles can be in the form of mountains, rivers, oceans,
thieves, and the biggest thief and obstacle of all, governments.

Governments create obstacles whether through the manipulation
of their economies or supposed protection of the industries
within their borders from less expensive goods coming in and
threatening the status quo.

Governments try to regulate things that most often will work
their way through, if the government would just let their hands
off of it in the first place.

We human beings have a tendency to believe that the persons
making up our governments have a better understanding of how
business should be run than the people who are actually working
in that business, yet most government employees and elected
officials have "never" run a profitable business.

And the people who make up our governments are just as
subject to greed and envy as all human beings and in some
instances I believe they are more subject to it.

Sorry, I am getting off on a rant here but in regards to starting
your business, you must decide if the Import Export business
is really what you want to do. It is not a hyped up business
"opportunity", it is a serious business and what our course
offers is "training" on how to start that type of business.

If you are serious about starting an import export business,
then do not wait around for the economy to turn, get started
learning what you need to know to succeed now. Then when
the economy finally does turn around, you will be that much
ahead of everyone else who sat on their hands waiting for
an imagined government solution.

One of the biggest obstacles to international trade, right
now, is financing or letters of credit.

Banks no longer trust each other, both within the USA and
from one country to another and this means you or a
manufacturer you work with as an agent or broker is going
to have a much more difficult time getting a buyer to get
a letter of credit and secondly have the manufacturer's
bank accept that letter of credit (loc).

The course will discuss financing options and where you
or the manufacturer can go to get financing if that is the
only method by which a buyer can make a purchase.

There are other alternatives to financing depending upon
the amount of the purchase. Credit cards often have a
line of credit large enough for a buyer to make the purchase
if an loc is not an accepted solution. Direct bank wire
transfers are still another option.

If a buyer really has a market for the product(s) you are
helping a manufacturer sell, the buyer will find a way of
paying for them.

So the bottom line, in answer to your original question,
is YES it is more difficult today than just a few months ago
but if you are serious about your interest in this business,
then begin learning the "how to" now and you will be in
a much better position to capitalize on the turnaround
once it comes.

If you make the decision to get started now, do not wait
for a turnaround, begin looking at markets that are still
moving goods. Food is a commodity that will always
be needed and the USA still leads the world in food
production.

In finishing this LONG answer to a SHORT question,
let me cite how difficult trade can be and then begin to
think about how much easier a path you have than
the following example.

Over the past weekend there was an episode of the
show "Globetrotter" on one of the PBS stations. I
missed the first part of it but saw enough to impress
me on how easy our lives and businesses have it
in comparison to other people in the world.

The 'globetrotter' on this episode was a young lady who
(when I picked up the show) was walking across a barren
desert in an African country (I think it was part of the
Sahara).

She had joined a trader's caravan from a desert oasis
where they grow fruits and vegetables. The people and
their camels were walking across the desert as these people
have done for thousands of years to take their goods to
a city where they would trade their goods for "salt".

The salt is required for both the people and their animals
due to the intense desert heat.

Most of the people in the caravan were walking and the
narrator stated how they would cover 50-60 miles a day!

I think they said it was a 17 day round trip and the city
where they traded their goods for salt was about 600 miles
from their oasis.

Once they got to the city, they made their trades and
loaded 4 very heavy pillars of salt on the camels and
began their journey back to their oasis.

This is what these people have been doing for thousands
of years and in my humble opinion, nothing that is currently
facing us in regards to the economy even comes close to
the hardships these 'traders' face on a continual basis.

So, yes, it will be more difficult to succeed in the import
export business today than just 6 months ago, but if this
is the business you wish to pursue, then you need to make
the decision that once you learn the "how to" that nothing
is going to stop you which brings up another proverb or
old saying I once heard many years ago.

"Let the dogs bark but the caravan moves on"

You can liken that to the first caravan that ever made that
long, hot and fateful journey across the Sahara. There
were probably more people telling them it would fail than
succeed but in the end, the caravan left those barking dogs
behind and moved on.

Hope this helps you make a more informed decision.

*** There was a brief follow up to the above answer that I
remembered a few days later that I had intended to include,
that additional answer is as follows:

Just wanted to follow up with you since there was one other
comment I wanted to include in the previous reply shown below.

It basically involves how in today's lousy economic environment
and a general distrust of investing your money with any
institution, the very best thing you can invest in is yourself.

Once you gain knowledge about a new subject, the investment
will last for a life time. No one can ever take it away from you
and the growth of that investment is solely dependent upon
you and the actions you take, not an investment advisor,
banker, etc..

So if there is any ONE place I would recommend for someone
to invest right now or for that matter, any time, is in educating
yourself.

For further information about Import Export or other International
business resources, visit the International Business Help Center
and be sure to take your time looking around the 285 web pages
that make up this premier web site.

Ron Coble
Coble International Business Services