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Learn
to get started in international trade, including how to export products
overseas and import products into the United States / U.K.
- Always
verify that who you are importing
from is a reputable supplier. Don't jump at deals that are too good to
be true.
- NEVER
deal with a foreign company that doesn't do
samples and that doesn't accept credit cards for your initial
purchases. You have to establish a relationship built on trust and
efficiency in order to thrive when doing business with companies
overseas.
- The
only legal requirements to opening an import business are having an
importer of record number, (the business's tax-identification number)
and a surety bond to protect the U.S. government if you can't pay your
duties, taxes and other fees. If you do not have an IRS number you can
obtain one by going to www.irs.gov/ If you do not have a
business, you
can use your social security number.
- All
imports must have the following documents to clear U.S. Customs:
Invoice/Packing Slip (showing detailed description, cost, and weight)
Carrier's Bill of Lading.
- Do
as much research as you can online before actually
sending your hard earned money overseas.
| Quick Tips -
Safeguard your Business Interest |
| (1) |
Never send money by Western Union:
It is tempting as it is very simple and you can send quickly. But it is
illegal for business use in most countries and it is non-recoverable
and non-traceable. So the chances of getting duped are very high if you
pay by Western Union. I have yet to come across any serious business
insisting on money by Western Union.
|
| (2) |
Never remit money by Bank Transfer to a
personal name: Always send to a company name. Many use
this trick and I am surprised how many keep falling for this. No matter
what the other guy says, if you send a bank transfer to a person,
chances are high that it will be the last you will hear from him.
|
| (3) |
Avoid being a victim of the ADVANCE FEE SCAM:
Never try to sell anything to anyone who insists on some payment from
you before placing an order for your goods. They usually promise a very
large order to tempt you. Various tricks used are fee for foreign
exchange transfer, registration of your company with authorities, etc.
Basically stop dealings with anyone who places an order with you and
then wants you to send some money first for some reason or the other.
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| Quick Tips -
General |
| (1) |
Use a personalized paid email address:
In case you are using a free email address like yahoo, rediff, hotmail,
msn or any other free email, please stop using it immediately as you
are harming your business by doing so. Free email address look very
unprofessional and create a poor impression about you. So start using
an email address which is like yourname@yourcompany.com as soon as
possible.
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| (2) |
Build your company website: If
you are in business and you do not have a website you are losing
business. No matter what your argument may be, a website is becoming a
qualifying criterion for buyers to select people they want to talk to.
Not having a website reduces the number of people who would be
interested in talking to you. Do you really want to do that?
|
| (3) |
Make it easy for people to contact you:
The below three points are a basic minimum:
| (a) |
Having
voice mail on all your phone lines: Basically, you must have a system
where a person can leave a message if your phone is busy or no one is
there to attend it so that you do not miss anyone trying to contact you.
|
| (b) |
Having
a dedicated fax line: Faxes nowadays are mostly being sent by some fax
software. So if you have a system where a fax tone is given on request,
chances are you will not receive the fax.
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| (c) |
Always
including complete contact details in all emails you send. A simple way
is to use signature files.
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| (4) |
Review your website critically:
If you have a website, look at it critically from a buyer's viewpoint
and see if your website does the following:
| (a) |
Make
the visitor believe you know your business well
|
| (b) |
Provide
more information than competitors
|
| (c) |
Enhance
your credibility
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| (d) |
Make the visitor feel
like contacting you |
| (e) |
Is
your contact information easily accessible?
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| (5) |
Understand the mindset of your buyer:
Learn to listen and understand the pulse of the potential buyer. Find
out what drives him. Although I know all of you will jump and say
'price', you know that there is zillions of dollars of business being
done at a price much higher than the 'best possible price' even when
buyers know that. It is being done because of timely delivery, quality
assurance, excellent communication, comfort level or special
customization, etc. Each buyer has some factors he holds as key. Once
you know that, you should be able to reassure him on that front.
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Top
Import / Export Advice
The
information and opinions expressed on this web site are not intended to
be a comprehensive study, nor provide legal advice, and should not be
treated as a substitute for specific advice concerning individual
situations. Arch1design is not
responsible for the content of external internet sites which link to
this site or which are linked from it.
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