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Starting A New Import Export Business In The Hard Times By: William R. Nabaza of www.Nabaza.com Everyone seems to be complaining about the economic downturn during these bad times. Self denial and laziness is not the way to conquer it, it's about diversifying and learning of new different sources of income. Out comes your new import export business. Adopt a proactive approach, learn that businesses are closing left and right, and majority if not all are huge suppliers, giving opportunities to small scale suppliers and the business and demand are left alone, this is a huge opportunity. Here are some steps suggestion, success can't be built in one day remember that, and you might have to approach it differently compared to me, but at least I've shown you the way. 1. Visit a trade lead directory. Alibaba.com is the choice for me. Think of it for a moment if you're gonna start your business online, might as well think big and go international. 2. Market Research. Be sure there's profit to be made in every step, you end up as the winner. Ask yourself this question, do you have to keep inventory at first? Do you have to rely for a few months from a reputable supplier? Decisions have to be made and sacrifices as well. Poor research always lead to poor business decisions. If your are lacking in time, purchasing research reports is not a bad thing to do at first, you need to study and learn on your own. Ask these questions again, are there rising demands for that specific product you wish to market and sell? Who are these people that needs those products? Who are your competitors? 3. Have a marketing and business plan. If you plan nothing, you will arrive at nothing. People in this type of business have become successful because they have learned to plan and keep it. Definitely, your media is offline and online to get the word out. Are there networks to tap into? Do you know the top people in this business? Can you contact some knowledgeable people and work your way in and get them as mentors. You don't always have to do it using money, there are people you might know that are friends of this people, and can show you the way for free. This is called also networking. 4. Do it. Like what Nike have said, Just do it! Enough talk and research and make your hands dirty as they say. You are bound to fail but don't quit. Failing is good if you learn a lot about it and not to commit the same mistakes you have. Doing your homework gives you a good chance for success. Proceed to request for quotations. Choose the best or most optimal suppliers. The price is the last part or basis to decide on, there are other matters such as availability, support and quality of the product. Make allowances and start all over again. 5. Manage your cash flow. Always think the best things in life are free. Be resourceful, you don't need always to pay as I've said. Be creative. Internet on the other hand is free and it offers free unlimited advertising on your part. Don't order it all in one day, slowly but surely study the demands and supplies. Order in small quantities of varying qualified products. Bundle them to new combinations thus creating new products to sell. Enjoy getting it at wholesale prices, always know the threshold of suppliers. Know contacts and use influences. For example a friend of mine referred me to his friend that ends up being a supplier of a prime commodity and I end up getting a wholesale price for items that are meant to be sold retail. What a favor I got! First posted on Starting A New Import Export Business In The Hard Times By: William R. Nabaza of www.Nabaza.com import - export - business William Nabaza of www.Nabaza.com specializes in domains, webhosting, webmaster's tools, netpreneur's articles and resources. Stands out as a freebie provider, business opportunity provider and the like. Visit his site at www.Nabaza.com or contact him directly at william@nabaza.com or support@nabaza.com

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