Post by Ismail AbdulAzeez on Dec 14, 2020 17:53:30 GMT 1
Many people have been nursing the idea of joining the bandwagon in starting Mini Importation business in Nigeria. A lot of others who started and failed have been wondering what went wrong with the project. There is too much noise from many so-called gurus out there claiming expertise in this mini-importation business model. Newbies cannot differentiate between the fake and real experts because there is just a thin line dividing the two categories of teachers. Do not worry as we are going to reveal the critical factors that lay beneath the successful execution of the business of mini-importation.
The first thing to understand is that this is a serious business; it is different from what many people claim online. Some will tell you that it is so simple to the level that you can start with N5,000. I don't know the level of serious international business you can do with N5,000; perhaps they are more interested in selling their Programmes or courses.
What I know is that this is a serious business; you must come with a serious business mindset that you are going into it to succeed no matter what happens.
This first step will enable you to overcome obstacles you will meet on the way.
Recently a lady came to our organization to teach her how to export agricultural produce from Nigeria, and I asked her what business she has been doing before, and she replied that she was into mini importation. And I said to her, that it is a good business, so why was she leaving mini-importation? She said that most products she brings from China that she sees the same products displayed online at half of her own price. I asked her, why was her own price higher than those of others in the same business. she had no idea.
She should have put effort to know why her prices were higher than her competitors’ instead of running away to start an export business. You can see she believes export is easier than importation. But the problem is not the type of business but the mindset. This is a critical factor, many people are not ready to put in the work, they want to just do little shoddy business and millions will start flooding into their bank accounts. No, it is not done that way, there is work to do but it is doable with proper mindset and training.
Let us narrow the mini importation business to China to simplify our analysis. Importing goods from China is an online business, so you must have functional tools that will aid you in the business. To start, you need the following or have access to them as at when you need them:
1. Desktop computer or laptop
2. A good internet enabled mobile phone
3. A fast internet network- it can be a modem, wi-Fi or mifi
4. Traceable home or office address, to enable you receive your goods. Though you can go and collect your goods from the shipping agents if you want.
5. A valid and functional email address. Add the email addresses of all your business partners to your contacts so as to avoid important emails going to the spam folder.
6. A bank account that enables you to pay for your goods online using MasterCard or visa. You can equally use a Nigerian PayPal account for payments only.
7. Facebook book and Facebook page for promoting your products.
8. Instagram account for promotion.
9. A website for marketing and promotion. You can create a free one with wordpress.
10. An amount of working capital you can start with.
What should be your first step when starting an importation business? Bear in mind that what you are getting into is the business of buying and selling, no matter what you are importing, you are simply buying goods from another country to sell in your country. So your main aim is to buy at a cheaper price and sell at higher price.
Some people say that your first step should be to order your products. How did you know the goods to import? You saw the product and you liked it? You have used the product before and it was fantastic? If you import goods because of these factors, the likelihood of failure is very high. That you used a product and liked it does not mean that the same product will be liked by other people. Are the people that are interested in the product high enough to make it a viable commercial venture?
Therefore, the first step to take if you want to get into this business is to do research of the product to import. If you have known the product before, do more research to know the number of people searching for that product with the intention of buying. People can be searching for a product just for information purposes only; when you bring such a product you will discover that there is very low demand with buyer Intent.
After researching and testing, then you can start to place orders for the products with the assurance that when the product arrives that you can sell and probably make profit. If you make a mistake here, you will probably discover that only you, your friends and family will be using the wrong product you imported.
Our next article will be based on websites that you will visit when ordering your goods, how you will pay and the best payment systems to use. How to choose your shipping agents and how they calculate their charges.
The first thing to understand is that this is a serious business; it is different from what many people claim online. Some will tell you that it is so simple to the level that you can start with N5,000. I don't know the level of serious international business you can do with N5,000; perhaps they are more interested in selling their Programmes or courses.
What I know is that this is a serious business; you must come with a serious business mindset that you are going into it to succeed no matter what happens.
This first step will enable you to overcome obstacles you will meet on the way.
Recently a lady came to our organization to teach her how to export agricultural produce from Nigeria, and I asked her what business she has been doing before, and she replied that she was into mini importation. And I said to her, that it is a good business, so why was she leaving mini-importation? She said that most products she brings from China that she sees the same products displayed online at half of her own price. I asked her, why was her own price higher than those of others in the same business. she had no idea.
She should have put effort to know why her prices were higher than her competitors’ instead of running away to start an export business. You can see she believes export is easier than importation. But the problem is not the type of business but the mindset. This is a critical factor, many people are not ready to put in the work, they want to just do little shoddy business and millions will start flooding into their bank accounts. No, it is not done that way, there is work to do but it is doable with proper mindset and training.
Let us narrow the mini importation business to China to simplify our analysis. Importing goods from China is an online business, so you must have functional tools that will aid you in the business. To start, you need the following or have access to them as at when you need them:
1. Desktop computer or laptop
2. A good internet enabled mobile phone
3. A fast internet network- it can be a modem, wi-Fi or mifi
4. Traceable home or office address, to enable you receive your goods. Though you can go and collect your goods from the shipping agents if you want.
5. A valid and functional email address. Add the email addresses of all your business partners to your contacts so as to avoid important emails going to the spam folder.
6. A bank account that enables you to pay for your goods online using MasterCard or visa. You can equally use a Nigerian PayPal account for payments only.
7. Facebook book and Facebook page for promoting your products.
8. Instagram account for promotion.
9. A website for marketing and promotion. You can create a free one with wordpress.
10. An amount of working capital you can start with.
What should be your first step when starting an importation business? Bear in mind that what you are getting into is the business of buying and selling, no matter what you are importing, you are simply buying goods from another country to sell in your country. So your main aim is to buy at a cheaper price and sell at higher price.
Some people say that your first step should be to order your products. How did you know the goods to import? You saw the product and you liked it? You have used the product before and it was fantastic? If you import goods because of these factors, the likelihood of failure is very high. That you used a product and liked it does not mean that the same product will be liked by other people. Are the people that are interested in the product high enough to make it a viable commercial venture?
Therefore, the first step to take if you want to get into this business is to do research of the product to import. If you have known the product before, do more research to know the number of people searching for that product with the intention of buying. People can be searching for a product just for information purposes only; when you bring such a product you will discover that there is very low demand with buyer Intent.
After researching and testing, then you can start to place orders for the products with the assurance that when the product arrives that you can sell and probably make profit. If you make a mistake here, you will probably discover that only you, your friends and family will be using the wrong product you imported.
Our next article will be based on websites that you will visit when ordering your goods, how you will pay and the best payment systems to use. How to choose your shipping agents and how they calculate their charges.