In our previous article, about Importing As A Means Of Business Success, we discussed the benefits and some of the risks involved in importing as a means of business success.
In this post, we are going to discuss some ways to get a tangible idea of a product or service to import that is more than likely to be a successful project. Be well advised that this is a process. You are not likely to get the exact product to be successful on the first swing of the bat. There is a possibility that you might just do that and make a fortune. Statistically, though, better to be willing to go through the process and be willing to “fail” in a small way by trial and error and examination and refining the problems and needs of the market and aligning them with the solutions and the benefits that the product provides.
First Things First
To start out there is a whole set of possibilities in the space we are setting out into. This is daunting and there is a great possibility of being completely overwhelmed and feeling hopelessly inadequate when comparing yourself or your business to the giants of the import market. At this point, it is vital to get a clear perspective on what you are looking to achieve within a given period of time.
It doesn’t matter whether you are importing for the first time as an individual or a multi-national corporation looking to explore a market, you and your team need to have a clear understanding of what the goal is going to be. This goal is not going to be specific in terms of product or service just yet. You will get to that level of completing the goal once you decide on the product you are going to use. For now, we are getting down to the portion of the goal involving time-related, financial, intellectual and emotional expectations. I like to look at the goal as a state of operation that I intend to have going in a given period of time, rather than a fixed possession of an item to give a clearer holistic idea of the state of my company should be operating in.
A fixed goal is one in which there is a clear object of desire that is to be attained. Here is an example of a fixed possession goal:
– Fixed Possession Goal: Generating $15 000 in profit monthly.
A State of Operation goal is one in which the ideal working and operation environment is painted as an image of what aspects are important to me and my team. Here is an example of a State of Operation goal:
– State of Operation Goal: Importing, distributing and providing an excellent quality product or service to a certain number of clients that my team and I absolutely love serving in a given area, as well as providing goods to other possible avenues of clients; making a profit of over $15 000 per month within 24 months and enjoying the experience with a great team of loyal, trustworthy, hardworking people who are all well remunerated for their efforts and find the project fulfilling, rewarding and profitable.
This type of goal works well for me since it guides my decisions. It’s easier to make a decision regarding any aspect that affects the project. If I have a doubt about a new potential team member who is ruthless at sales and gets good sales in but is obnoxious and rude to other members of the team who are also productive, it’s easier for me to get perspective. Either that person can be brought around to being more of a team player by gaining an understanding of what is going in their lives and giving them a better perspective of the business or they are off the team. With profit as the only motivation, that person may get good numbers initially but may have a poor overall impact on the rest of the business if not handled early.
Work with what is best for you in terms of goal setting, but do your best make it achievable and doable based on your level of skills, resources, abilities available and the certainty of what can be attained within the time frame.
In this post, we explored the first part of getting a tangible idea of a product or services that can be imported, which is to get a goal in mind that you are looking to attain. In the next post, we will explore the next steps involved in getting a good idea of a product to import into your market.