It is pretty surprising how many people make the same mistakes over and over again in some business endeavors. Moreover, despite the fact that these mistakes have happened in the past to many other persons, some business neophytes still commit the same mistakes. It is therefore very important to know the most common mistakes that most businessmen commit and how to avoid them. In other words, if there are things that you should know and do in starting up a business, there are also some things that you should avoid.
In the import export business, there are many factors to consider. Aside from the fact that unlike other types of businesses which just deal with the selling of products, the import and export business buys products as well. Thus, the nature of buying and selling should both be studied critically in the import export business. For those who are just starting out in this type of business, as equally important with the things that you should do, are the things that you should avoid. Thus, in order to avoid the common mistakes that other businessmen have committed, it is important to note the things that should be avoided.
First and foremost, if it can be helped, avoid third party vendors. This may sound a bit harsh, but third party vendors usually have hidden fees that will not only make your products appear more expensive, but will hinder these products from being sold. This is so because third party vendors have the tendency to insert hidden fees for them to profit more. However, if it cannot be avoided, you can employ third party vendors that are credible and reliable. There are online sites that offer the third party vendor services. In browsing through these sites though, you should be very cautious and discerning.
Second is talk directly to the producers for imported products. Beware of agents who represent importers because these will just add to the cost of the products. As much as possible, in importing products, make sure that you deal with the producers, or main suppliers of the product. This would not only eliminate unnecessary third party fees, but will also make transactions clearer and faster.
The third thing to avoid is delay in deliveries. In the import export business, time is one of the most important factors to consider. In importing products, the delivery process starts as soon as you buy the product and bring it to your warehouse or store. The time spent for these operations should be considered critically in order to avoid delays and extra expenses on the handling of these products. In the same manner, in exporting products to other countries, the delivery process starts as soon as you send the products to the receiving party. The delivery process is only concluded when the receiving party receives the products. Thus, any delay in the delivery process would mean extra handling expenses.