Standing out in the business
How MAVENS’ planet became world’s favorite import export agent? This Journey has been interesting and challenging. Business is now a global affair, and thus the export-import business is important, lucrative and necessary. You just need to approach the business with an open mind and be willing to complete lots of research to become a successful import export agent.
- Understanding the challenge:-We compete with many companies around the world, some backed by governments and some independents. Our Job as an import export agent is to work on “both ends” of the export deal, that of origin and that of destination. The places in between make up the bulk of the labor here.
- Study:- Getting right education and degree in these fields and those closely related to provide insight into the problems and benefits of international markets. In other words, an import export agent must become fluent in the basic jargon of import-export law, currency transactions, trade policy and all the politics that goes into making a profitable trade deal.
Study of where suppliers are and where your potential markets are. This gives us the basic conceptual and mathematical tools necessary to understand and profit from markets, both established and developing.
- Establish relationships with your suppliers at the executive level. Look for long-term relationships.
- Research of products and markets. Become as knowledgeable as possible. You never know what the client may ask you when considering your products.
Gather as much information about the products as possible from the manufacturer. Some products may not be suitable for many markets due to regulations, safety requirements and chemical ingredients.
- Establish your business operational procedures. Do you take possession of inventory (not always a good idea, think expensive), will you arrange a drop-ship with the supplier, and will you act only as an agent passing on clients to the supplier in exchange for a commission.
- Make sure that any follow-up orders, if placed directly with the supplier are credited to your account.
- Determine your commission levels and stick with them. Don’t get greedy.
Hopefully these tips will help you to understand some of the issues that are involved in becoming an import export agent.