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Tips for Starting an Import/Export Business

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Tips for Starting an Import/Export Business

As a startup businessperson, you need to explore every aspect of your business before you fully spread your wings. This is even more important when starting an import/export company. International trade regulations, different currencies and many other factors require that you do your homework on time. On the other hand, thanks to the Internet, international trade can be very profitable and rewarding. Here is what you should know.

Select a product to tradeSelect a product to trade

With international trade, you cannot cater to all the customers out there. You need to select a product that has the suitable qualities for import or export. There are hundreds of Australian manufacturers with limited distribution looking for an overseas market, and you could start by exporting their goods. You would handle the sale, paperwork, money, shipping, customs and foreign distributions, and the manufacturers would in return provide the quotation – with your fees on top of that. For manufacturers, it means an increase in sales, a broader market and more profit, and for you, it means establishing your business and a commission on the cost of the goods.

Find the market

After you have chosen the product to sell, you must find a place to sell it. Your ability to follow the trends or even spot the ones that are yet to become popular will get you far ahead of the competition. Touching the ground first and importing or exporting a product before it becomes hugely popular in the country can be your ticket to the stars. The World Bank’s ‘Ease of Doing Business’ and global Edge’s ‘Market Potential Index’ are the two services that can help you start your foreign market research. Also, you might want to check with your local government officials to determine the right sources for international market research. Australian Trade and Investment Commission helps Australian businesses and citizens develop international markets and win productive foreign direct investments.

Set up a website and blog

Having your own website will help you develop your online presence and grow your business. It serves as a hub for your online communications and your web-based store. Start by registering your business name with a reputable web host because your domain name is what potential customers will use to find you and your business. Sites like Network Solutions, Go Daddy, Intuit and Verio offer domain name registrations and affordable website hosting packages. A blog, on the other hand, allows for a continuous flow of engaging communications. Blogger, Typepad and WordPress are services that enable you to create a blog within minutes, which will also include great designs, reliable hosting and tech-support.

Price your productPrice your product

There are two critical elements that determine your import/export business model. These are the volume, or the number of units sold, and the commission on that volume. You want to achieve the product price so that your commission doesn’t exceed the amount your customers are willing to pay, but still brings you good profit. It is typical for importers and exporters to take a 10% or 15% markup over cost.

Transport your products

Your next step is finding the best means of transporting your product to where you will be selling it. You need a global freight forwarding company that has a strong network of relationships with transport companies, and you also need the company to be able to offer warehouse storage in all metropolitan and regional centres, as well as handle your customs clearance procedures. Their service can save you a lot of time, effort and stress for a reasonable fee.

Transport your products

Starting an import/export business is an exciting endeavour. The most important piece of advice is to research everything, as your success depends on many different factors. Keeping up to date on all industry news will create lucrative opportunities that you don’t want to miss.

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1 Comment

1 Comment

  1. Sabbir Rahman

    October 14, 2017 at 11:01 am

    Great Tips! To start any business we should know that how to start and further things. You did an excellent job to share these valuable tips.

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Olaotan Richard Ceo Aims Digital Network Speaks On 5 Powerful Tips To Digital Marketing Success

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Digital marketing is unarguably one of the most effective and strategic marketing tools that the internet has brought to our doorstep. Businesses all over the world are churning in millions and even billions in returns each year. Digital Expert Richard Olaotan, the CEO of Aims Digital Network, gives some powerful and winning business tips for digital marketing.  

 

1. Visual Elements

Everyone is attracted first by what they see. Having visual elements in business is key because people can only buy what they see. And on the average, a prospective client has got to see your product or service ad about seven times before they make a purchase. Whether it is your business logo, mascot, color theme or font you are choosing, the whole idea is to catch the attention of the audience, while also maintaining that attention enough for them to remember your brand. When advertising on social media, visual creativity is key. You must, at all times, ensure that whatever it is you are putting out there is as relevant as it is eye-catching. Your digital ads must appeal to the aesthetics of viewers and will be remembered. Using images that have consistent aesthetic and gives your campaign that familiarity every time it pops up is key.

2. Invest wisely 

Truth is there are several digital marketing tools and services out there, but not all of them will create the same level of impact you desire for your kind of business. So, take time to analyze your business and the service or product you wish to put out there, the age demographic you are targeting, and the location too. Afterward, you can go through the various digital marketing platforms available and select the ones that will most effectively achieve what you desire. 

3. Understand the buyer process

If you can understand the journey of a buyer, you will know what marketing strategy to present at each stage. Through buyer analytics, you can deduce the actions a visitor takes throughout your website, and use this information garnered to make the buying process easier for them. For instance, Google analytics gives user history that can help you better understand where they are in their buying phase.

4. Understand your target audience

Before delving into employing digital marketing tools, it is highly advised that you have a clear understanding of who you are targeting to make your bulk purchasing audience. Everyone is a potential buyer of your product or service; however, an age range or designated people of certain classes are the best benefactors of your product or service. Those are your target audience, and in digital marketing, you engage marketing tools strategically to send unique ads to this audience.

5. Analyze your social media metrics

To see the digital marketing tool that is most effective for your product or service, Olaotan Richard advises that you analyze your data and tie it back to the direct result it produces. The best SEO company in Chicago or anywhere else would first help you find what promotes engagements for your business niche. With their finding, they can easily suggest which tool or ad style is most effective for you.

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Business

Here is Why You Should Use Web Content Filtering

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In today’s hyperconnected era, the internet has become critical for your business performance. It allows your staff members to seek information, collaborate, and share files in real-time. There are also many web-based platforms that can simplify almost any aspect of your business operations, from bookkeeping to project management.

However, do your employees always use the internet the way they should?

To take a break from their complex daily activities, even your most diligent employees will surf the web, share videos, and quickly scan their social media accounts.

Even though taking a selfie and posting it on Instagram or responding to a friend request on Facebook takes only a few seconds, stats say that these activities may harm the overall workplace performance and cause greater costs. According to Office Team, employees spend 5 hours weekly on non-work activities, which may lead to a worrying loss of $15.5 billion in lost productivity.

One of the most effective solutions to this problem is web content filtering.

Web Content Filtering Defined

When you’re filtering online content, you’re using a piece of software to identify and exclude any forms of inappropriate or dangerous content for your company. These tools recognize character strings that, if matched, indicate that the content is not appropriate for your organization. These could be suspicious files, spammy website content, pornographic content, and even social networks.

Now, let’s see what the benefits of web content filtering are for your business.

Tightened Network Security

The number of cyberattacks is growing. Unfortunately, it’s unlikely that this trend will die down in the next few years. Namely, today’s online hacks have evolved, which makes them harder to predict and recognize.

Above all, most of them target small businesses. Research says that more than 70% of companies that are hacked are SMBs. The reason for that is simple – small businesses still don’t understand the importance of cybersecurity and are not equipped to fight sophisticated online threats.

One of the most frequent types of cyber threats is phishing attacks. The hacker’s goal is to deceive a user to steal their valuable data. This form of online breaches involves a myriad of tactics that are carried out through emails, social networks, IM platforms, etc. Some well-versed cybercriminals even build fake sites that look trustworthy and then ask users to provide their sensitive data.

Unsurprisingly, employees’ negligence is the greatest cybersecurity risk. Most of them will click on spammy ads, odd links, and download files from unreliable resources without thinking about the consequences of these activities.

This is where web filter solutions help. Namely, they provide services like information control, URL filters, traffic control, proxy control, behavior analyses, and online bandwidth management to prevent infected files from reaching your employees’ inboxes. And, even if an employee receives a malicious file or link, web filters will instantly block their access to such content.

Greater Workplace Productivity

Social networks are often being referred to as workplace productivity killers.

Still, is banning them a good option? Probably not.

First, this may hurt employee satisfaction and indicate that you don’t trust them enough.

Second, social networks are important for building brand awareness. When reposted on your company’s profile, your employees’ behind-the-scenes photos and videos may help you humanize your brand.

However, web content filtering lets you set stricter rules on what kind of content should be accessed at work. You don’t have to block social networks, but you can always filter out not-suitable-for-work (NSFW) websites, such as online shopping platforms, as well as gambling, torrent, gaming, or entertainment sites.

Maintaining Brand Reputation

Your employees’ lack of knowledge may not only hurt your network’s security, but also ruin the reputation your company has been building for years. Just remember that U.S. Airways’ social media manager accidentally published an X-rated photo on the company’s Twitter account. Even though they reacted fast by deleting the photo and apologizing, they still received lots of negative press.

Therefore, web content filtering may be one of the most effective ways to maintain a spotless brand reputation in the digital world packed with spam. URL filtering and real-time monitoring of online activities will reduce the disasters caused by employees misusing the internet, such as publishing offensive content, illegal file downloads, or publishing inappropriate content on your corporate accounts.

Conclusions

The power of web content filtering goes far beyond improving cybersecurity. This is one of the most effective ways to limit your employees’ access to non-work sites and, in this way, increase their productivity and prevent them from sharing any inappropriate content.

Sure, to get the most out of this strategy, don’t forget to educate your employees. They need to know how their use of the internet impacts the overall image of the organization. Most importantly, they should be aware of the major cyber threats and know what to do if they come across them.

 

Hope this helps!

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Business

5 Tips to Improve Customer Experience

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One of the biggest challenges that a lot of Australian enterprises are struggling with is the question of how to improve your overall customer experience without changing too much of their current business model. The reason why this is so important is due to the fact that a customer experience tends to be the number one reason why people return to your business and there’s an estimate that it’s five times cheaper to retain a customer than gain a new one. In order to make all of this work to your benefit, here are five tips to improve your overall customer experience.

1.      Simple navigation

From the moment people enter your website, they need to be able to discern what is what and where they should go next. Some people make a mistake of presenting website visitors with too many clickable elements and information early on, in fear that they won’t be able to see all that their website has to offer. The problem is that this only makes it harder for people to make up their minds. One study shows that the more option you present a person with, the less likely they are to actually make a choice. With that in mind, make sure to let them explore your domain one step at a time.

2.      Listen to customer feedback

The next thing that you should consider when you decide to improve customer experience is asking people what they want. Sometimes you don’t even have to ask, seeing as how people might already be actively complaining about what your business lacks. So, check out some reviews and social media comments with your brand mentions in order to see what people want. Other than this, polls and surveys can also be a great source of information and you should never neglect this vast potential. This way you can get the answers on questions that you find relevant, thus gaining actionable information instead of raw data.

3.      Look for professional help

In the past, entrepreneurs, especially those running digital businesses had to face all of these ordeals on their own. Nowadays, on the other hand, both locally and globally, it’s quite easy to find affordable professional help. For instance, as an entrepreneur behind an NSW-based enterprise, you can just look up management consulting firms from Sydney and schedule a meeting. Due to the fact that these agencies specialize in improving your company’s interaction with its customers, the improvement to the customer experience is both immediate and easily noticeable.

4.      Be consistent

The next thing you need to understand is the concept of nostalgia and the fact that people tend to be emotionally entangled with familiarity. In order to exploit this phenomenon to your own advantage, you need to learn how to become more consistent. For this to work, your brand needs to have its own identity and even if you decide to change a thing or two in order to stay in touch with the time, this change shouldn’t be too drastic. People don’t usually react positively to change, especially if it’s drastic or sudden. For your content marketing, make sure that you have the same people behind it all the time.

5.      Don’t be too pushy

There’s a saying that if you love something, you should let it go. The same principle applies in the business world, as well. You see, by being too aggressive with your post-sale follow up you’ll scare people away. People are always interested in what they need and rarely in what others need from them. The fact that you want them to come back means nothing to them, however, if you make a good first impression, once they need you, they’ll be sure to come back.

Conclusion

As you can see, each of the above-listed tips is fairly easy to implement and it doesn’t require you to deviate too far from the path that you’re already on. In other words, you gain quite a bit without having to make unnecessary sacrifices or compromises. This is a clear win-win scenario and a great boost for your business model.

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