Post by Ismail AbdulAzeez on Mar 14, 2021 13:16:12 GMT 1
5 Critical Secrets You Must Know To Guarantee Your Success In Mini-Importation Business In 2021.
Even though a Chinese proverb says that “Failure is the mother of success”, indeed there is no replacement for hands-on experience when dealing with real-world problems while running our own businesses.
Some missteps may be unavoidable, but you can save yourself from costly mistakes and years of wasted time by learning from these valuable lessons that other people learnt the hard way.
With clarity of purpose now, and experience from hindsight, below are five things you must know before starting a Mini-Importation business 2021.
1. Product quality:
Product quality is the most important secret that you must know before starting any importation business. Why do we say so? You should know that the product you want to import is not physically in your location, therefore you cannot go and see it before paying; then, how do you confirm that the product you are ordering will be of the same quality with what you have seen online?
Never trust people you have never dealt with before, make sure that you order a sample of the product and use it to confirm its quality before making a final bulk order for your mini-importation or Dropshipping to your customers.
Always beware of sellers offering you cheap prices, overlook that and concentrate on product quality. No entrepreneur gets away with bad product quality for a long time.
2. Relying on a single supplier:
Relying on a single supplier for your mini-importation business will eventually spell doom for you. The supplier may not have intentionally disrupted your product flow, but what if he too was disappointed by some of his raw materials suppliers?
Having a good relation with a supplier does not mean that you should concentrate all your orders through him. If you do that you will eventually run into problems of defaults, backlogs, and will have problems with angry customers when your single supplier defaults.
Selecting suppliers is crucial to the survival of your business, if you continue to have problems and chargebacks due to your inability to fulfill your orders, your merchant account can be shut down and put you out of business.
Always make sure that you have not less than three suppliers; allot 50% to your major supplier, 30% to the next, and 20% to the last. This will guarantee you regular supply no matter what the situation is.
3. Great Customer Service is Key:
Having a good customer support team is very crucial to the survival of your importation business. Customers will be asking for updates from time to time on their product journey, if they are much, without a good customer service team, the system will break down and chaos follows.
You must deal with your customers’ queries from time to time, neglecting your customers may result in lost businesses and repeat purchases.
4. Do not Depend on One Traffic Source:
Your traffic source is the blood of your business, depending on one traffic source can be very expensive in the long run. Do not copy those that depend on only facebook for the advertising, diversify your source of traffic.
Look for other sources like, Google adwords, Pinterest, Search Engine Optimization (SEO), Snapchat ads, etc.
5. Go Global:
Do not be a local Champion, if you have been focusing on English speaking countries alone for example; try selling to non-English speaking countries of the world too.
The beauty of Dropshipping business is that there are a lot of suppliers that are ready to do business with you in the language of the country you wish to sell your products to.
Mini-Importation business is easy to enter into especially Dropshipping, as your capital requirement is minimal compared to other types of importation businesses.
All the points enumerated above are issues you must consider and pay serious attention to so that they do not act as impediments to good success in your business.
A lot of beginners just jump into businesses without digging deep to unearth difficulties they may encounter in the business that may even scuttle their entrepreneurship journey.
We do hope that this critical information will be of great importance to you, as we will continue to bring to you great information that will guarantee your success in this 2021 and beyond. Stay with us.
Even though a Chinese proverb says that “Failure is the mother of success”, indeed there is no replacement for hands-on experience when dealing with real-world problems while running our own businesses.
Some missteps may be unavoidable, but you can save yourself from costly mistakes and years of wasted time by learning from these valuable lessons that other people learnt the hard way.
With clarity of purpose now, and experience from hindsight, below are five things you must know before starting a Mini-Importation business 2021.
1. Product quality:
Product quality is the most important secret that you must know before starting any importation business. Why do we say so? You should know that the product you want to import is not physically in your location, therefore you cannot go and see it before paying; then, how do you confirm that the product you are ordering will be of the same quality with what you have seen online?
Never trust people you have never dealt with before, make sure that you order a sample of the product and use it to confirm its quality before making a final bulk order for your mini-importation or Dropshipping to your customers.
Always beware of sellers offering you cheap prices, overlook that and concentrate on product quality. No entrepreneur gets away with bad product quality for a long time.
2. Relying on a single supplier:
Relying on a single supplier for your mini-importation business will eventually spell doom for you. The supplier may not have intentionally disrupted your product flow, but what if he too was disappointed by some of his raw materials suppliers?
Having a good relation with a supplier does not mean that you should concentrate all your orders through him. If you do that you will eventually run into problems of defaults, backlogs, and will have problems with angry customers when your single supplier defaults.
Selecting suppliers is crucial to the survival of your business, if you continue to have problems and chargebacks due to your inability to fulfill your orders, your merchant account can be shut down and put you out of business.
Always make sure that you have not less than three suppliers; allot 50% to your major supplier, 30% to the next, and 20% to the last. This will guarantee you regular supply no matter what the situation is.
3. Great Customer Service is Key:
Having a good customer support team is very crucial to the survival of your importation business. Customers will be asking for updates from time to time on their product journey, if they are much, without a good customer service team, the system will break down and chaos follows.
You must deal with your customers’ queries from time to time, neglecting your customers may result in lost businesses and repeat purchases.
4. Do not Depend on One Traffic Source:
Your traffic source is the blood of your business, depending on one traffic source can be very expensive in the long run. Do not copy those that depend on only facebook for the advertising, diversify your source of traffic.
Look for other sources like, Google adwords, Pinterest, Search Engine Optimization (SEO), Snapchat ads, etc.
5. Go Global:
Do not be a local Champion, if you have been focusing on English speaking countries alone for example; try selling to non-English speaking countries of the world too.
The beauty of Dropshipping business is that there are a lot of suppliers that are ready to do business with you in the language of the country you wish to sell your products to.
Mini-Importation business is easy to enter into especially Dropshipping, as your capital requirement is minimal compared to other types of importation businesses.
All the points enumerated above are issues you must consider and pay serious attention to so that they do not act as impediments to good success in your business.
A lot of beginners just jump into businesses without digging deep to unearth difficulties they may encounter in the business that may even scuttle their entrepreneurship journey.
We do hope that this critical information will be of great importance to you, as we will continue to bring to you great information that will guarantee your success in this 2021 and beyond. Stay with us.