Why an Import Export Business is the BEST Business
Starting an import export business is one of the best small businesses to start, if you know what you are doing! Let’s review a few “do’s and dont’s” of import export business operations that will put you on the path to global success.
First, what you DO NOT need:
1. A college degree. While you do need to be educated on all areas of global business, international marketing, shipping and logistics, and trade finance and payment terms, this information can be obtained by taking classes and earning a certificate. This is much cheaper and faster than a degree.
2. A highly visible commercial office space. This is a business that typically will not have consumer foot traffic, so a brick and mortar store-front is not necessary. Running this from your home office or perhaps a small rental office is convenient.
3. Foreign language capabilities. The language of the business world in many regions is still English.
4. A lot of capital, meaning MONEY. Low overhead, and no product to buy means you can stretch your dollars further.
5. A great deal of time. This business can easily be started on a part-time basis. Considering you will be conducting business with other countries, you have flexibility of various time zones. Many people are able to start their import export venture while working a full-time job.
Now, what you DO need:
1. Education. The reality is that you will be representing product around the world, so you need information about how to maneuver the trade process properly. Areas like compliance, Customs procedures, market entry methods, verifying international business partners, and product classification all require knowledge that you just can’t learn on the fly.
2. The time to network. Although you can operate this business from home on a part-time basis, you will need time to network and market your business. With so few American companies exporting (only 1%), some of your potential customers surround you! You can perform the bulk of your work on your computer, but again, you need to establish a presence in the business community by doing good, old-fashioned networking.
3. A home office. You need a space that you can study and work in. It doesn’t have to be large, but well-lit, comfortable, and quiet!
4. A mission and a vision. Where do you see your company in 5 years? What type of business do you want to operate? To turn your dream into a reality you will need planning.
5. A realistic attitude. If you can see this business as a legitimate, professional venture, then approach it as such. If you think that is a business in which you will be earning millions in a short period of time, please don’t even get started. This is a myth that is perpetuated by people who want to sell you something, and please don’t get sucked into that alternate reality, where you sit in front of a computer, send a few emails, and make millions. We have been doing this a long time, and that just doesn’t happen. Now, that’s not to say you won’t hit a few home runs, because you very well might. There is a lot of money to be made, but slow and steady will win that race. Every time.
6. YOU. You control the success, because the success rests solely on your doorstep. You are not dependent on anyone for your success. If you succeed, it’s all YOU. Conversely, if you fail, same thing. But, what an opportunity that YOU totally control!
If you read all of this, we thank you for hanging in there! We firmly believe that an import export business is a legitimate, potentially professional business for ANYONE. This business doesn’t require a lot of money, a lot of space, a tremendous amount of time, nor do you have to have a college degree.
Let us help you get started on your path to import export business success! We offer training and the systems to turn your idea into a reality. Even if you just have a question, please contact us – we are here to help in any way we can.
Now – go be successful!
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We encourage you to contact us. Please call our training office directly at 352-364-4644. Our office hours are Monday – Friday, 8:30 a.m.. – 5:00 p.m.. EST. Weekends and evenings by appointment.