Before you start import export business
I’m assuming which you are interested by beginning your personal business and are wondering that it can be an import and/or export business. The discussion that follows covers some personal characteristics that will affect your ability to be successful before you start import export business . Then you will read articles 20 important questions, the answers to which can be the beginning of your business plan. We will conclude with two brief financial examples, which can help you decide whether your business is likely to pay off economically.
Yes, the question sounds strange, but it is one that many bank loan officers ask. The idea is that many entrepreneurs fail the first time, but they learn from their failures, and the kinds of personalities that led them to try once will make them try again and again until they ultimately succeed. Another way of looking at this is to ask yourself what experience you have had in business. Importing and exporting are definitely businesses that require knowledge of purchasing, marketing/ selling, finance, and other functions that go along with being your own boss.
Millions of people in the India and abroad dream of owning their own business. Of the thousands of us who try, many fail, many succeed to some degree, and a few become highly successful.I have never seen success and failure statistics just for “people who begin import and/or export business, however they may be possibly just like the statistics for companies in popular.”. I think importing is easier than exporting, but there is money to be made either way.
Thousands of companies of all sizes combine to produce these startling figures. Also, nations are trading more and more as inter-est in foreign goods increases, transportation costs and customs duties decrease, and procedures such as international payment are simplified. People who want to start businesses often ask me which products they should deal in to make big money fast. In responding, I usually try to lower their expectations and then tell them that what really matters is the customer. If they can find a person who is willing and able to buy something from them, all the other details can usually be worked out. I will talk about this in more detail.
I hope that each of my readers will end up in that select group of highly successful international business people. Reading this articles will not guarantee it but will definitely help you,Beware, though, of any that promise to set you up in business quickly and easily for a few thousand. There are some that will take your money and not provide much more than product ideas and names of suppliers and buyers(importer)details.
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