What makes one product less expensive for a nation to manufacture than another? A country with extensive oil resources and the technology of a refinery, for example, will export oil but may need to import clothing.Related: The 15 Most Popular Online Payment Solutions First off, let's take a look at the players.As an added bonus, you may already have contacts in the field who can either become your first clients or steer you to colleagues in that area. targeted the field of technology--specifically, software solutions for commercial use and computer cables--simply because he's worked in that area for more than 10 years. Wahib W., too, began in a field he knew well, runway and navigational lights, then went on to other international construction projects, importing railroad and telephone pole materials and construction services, as well as other heavy-equipment materials. You've narrowed the list of products you'll target.Tags: Strong Problem Solving Skills ExampleResponsibility Assignment Matrix RamEthnic Adoption Argumentative EssayLesson Plan For Business StudiesResearch Proposal EngineeringUtoronto Engineering Science ThesisBusiness Research WritersChris Pearson ThesisDissertation Chapter 1
You can go after companies that deal in heavy construction equipment or delicate jewelry, gourmet goodies or pet food, telecommunications or toys.
The only essential requirement is that they want to sell their merchandise or buy someone else's.
While you've got your importers and your exporters, there are many variations on the main theme: Now that you're familiar with the players, you'll need to take a swim in the trade channel, the means by which the merchandise travels from manufacturer to end user.
A manufacturer who uses a middleman who resells to the consumer is paddling around in a three-level channel of distribution.
The proper market research can help boost your trading company into a true profit center, and the more research you do, the better prepared you are before you officially open your doors, the less floundering you're likely to do.
Any manufacturer, supplier, crafter, artisan, importer, exporter or retailer is fair game.Related: The 15 Most Popular Online Payment Solutions Why are imports such big business in the United States and around the world?There are lots of reasons, but the three main ones boil down to: Aside from cachet items, countries typically export goods and services that they can produce inexpensively and import those that are produced more efficiently somewhere else.The middleman can be a merchant who purchases the goods and then resells them, or he can be an agent who acts as a broker but doesn't take title to the stuff.Who your fellow swimmers are will depend on how you configure your trade channel, but they could include any of the following: Not everybody is cut out to be an international trader.If, on the other hand, you're an enthusiastic salesperson, a dynamo at tracking things like invoices and shipping receipts, and your idea of heaven is seeing where new ideas and new products will take you, and if, to top it off, you love the excitement of dealing with people from different cultures, then this is the career for you.It also helps if you already have a background in import/export.Most of the traders we talked with were well-versed in the industry before launching their own businesses.Peter P., who founded a Russian trading company, segued directly from his college major in international business to an operations position with an international frozen-meat trading company in Atlanta, which landed him in the right place at the right time."I speak both Russian and Ukrainian fluently," Peter says. I took Russian as a minor in college, initially as an easy grade.This is also not a career for the organizationally challenged.If you're one of those let-the-devil-handle-the-details types whose idea of follow-up is waiting to see what happens next, you should think twice about international trading.