How to thrive in International Business

China is still growing where others are stagnating or receding.
China grows because of its cheap exports and is considered by many as the manufacturing centre of the world.
When trying to profit from this trend by importing from China, keep the following in mind.

You will find brand names for sale but they are fake: no real iPad, no real iPod, no real Gucci. Of course you can get cheap copies, which might match or exceed the real brand's quality. However, the trademark owner can prevent your goods from physically entering the market. Your goods will be stuck in customs and you will have difficulties having them released. Since branding costs a lot of advertising dollars, owner's of expensive brands whether Calvin Klein or Rolex will protect their trademarks and you will lose. On top of having your goods stuck in customs you might be fined or subject to legal action.

How to select a profitable product ? Everything you will buy in China from Chinese manufacturers will be cheaper than in your home country. The question is rather how to control quality. Have samples sent to your business, and insist on independent quality control. It is better to lose a little profit than losing all the money since once you paid there is no going back.

Focus on the company and try to find a company that has been on the market for a long time and consistently provided quality products. In case you need help with translations, someone suggested to pay Linden dollars for Chinese translations. The same author claims that he reduced translation costs of 200 articles from $9000 to $46 this way. One problem might be quality
control of the translation, however, if you understand what your virtual translators are saying, you might have a winner.

Finally, do not pay up front. Either pay via letter of credit (more information in regards to letters of credit you can find here) or once you received and inspected the goods. A letter of credit is simple: your Chinese seller will be paid by her bank once she presents commercial invoice, packing slip, insurance documents and a bill of lading. However, the devil is in the detail and you are well advised to ask your banker or the people at the forum for more information befor you jump.

Here you can learn more about living and teaching in China.

Ebook Review: Importing for auctions

A friend pointed me to Walter Scheuer's Importing from China !,
I contacted Walter, he is very approachable and answered all my questions quickly
and to the point.

His materials: 5 audio sessions (and their transscript), and
eight pdf files plus a bonus ebook. That by itself is already pretty impressive.

What I like best about the book was Walter's down-to earth- approach.
"I used FedEX for shipping because..., I used this guy because ... and here is
how I found them."

Walter makes it sound very easy and reading the book you know
that all it takes is work. It is NOT difficult, one just has to get going
and instead of writing a review I should be following in Walter's footsteps.

Walter is not a "get rich schemer", he tells you that you have to work,
do your due diligence, test, and do it all over again. But the information
he gives you, lets you avoid tiresome beginner's mistake and costly losses.

Some might argue that Walter's book lacks detail. However, I do not think
that to be the case. Every product, every supplier is different and you need
to do the work. Spoon feeding a business does not work. Walter teaches you,
you have to listen, and do it yourself. You will not find theories about branding,
international business and international politics or other high-brow stuff.
I am very glad about that, because those topics bore me to tears. You will find
hands on experience, hands on approach, and the guide how to work.
Let's get going.

Recommended !.



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