How Companies Deal With Import Quotas

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In the article below, I discuss "The Great Quota Hustle" published in Forbes (2000) and then I profile three sourcing companies: Li & Fung, Connor and Esquel Group.  My intent here is that you can glean lessons on how the big guys run their sourcing companies and come up with some new ideas on your own to better manage your supply chain.

Read the entire article:  How Companies Master the Quota System

What You Need to Know Before Getting Started in International Trade

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PART I:  Aspiring importers and exporters who are clueless about international trade are a dime a dozen. Just looking at my email inbox, I know firsthand. But thoughtful, well-prepared importers and exporters are hard to come by. They are the ones who research thoroughly before they undertake their first business transaction. How do you go from clueless to ready for importing and exporting? What do you really need to know? Here are a few pointers to help master the global game.  Read Part I of a III-part series.

PART II:  I hope I am not dreaming. I heard you have a great product ready to import or export, now all you need to do is get it in the hands of a few good customers and you are off to international trade nirvana. Wait, not so fast. How do you know the product will sell? Will you make money selling it? How should you price the product? All importers and exporters must face these questions at some point if they want to achieve success in the global marketplace. Here are a few solutions to guide you in the process.  Read Part II of a III-part series.

PART III:  When starting an import/export business, it’s not so much about having the best product or service offering on the planet as it is about being prepared to go where you have never gone before. Doing your homework is essential to achieving global success. Here I cover part of the homework—sounding out the market before you tap into it, mastering the regulatory environment and locating a few good customers or suppliers well before you open your door to the world for business.  Read Part III of a III-part series.

Are You An International Trade Champion?

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What a wonderful honor I had to interview Ayse Oge, an award-winning international trade consultant, speaker and instructor who currently works as a counselor and presenter on international trade at the Service Corps of Retired Executives (SCORE), in Glendale, California.

Oge is a true international trade champion in every sense of the word. Here’s what she has to say about the global economy and what it takes to become a champion at international business.

Oh, and it can't hurt to find out whether you are an international trade champion yourself!

Read the entire interview:  International Trade Champions

Issuing a Commercial Import Invoice

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In this article, I talk about why a commercial import invoice is important and how to prepare one.

A commercial invoice, signed by the seller or shipper, or his agent, acts as a bill of sale between a buyer and seller, describes what you are importing and references important transaction numbers. It also serves as a vehicle for the seller to get paid as well as a device for you to receive your merchandise in a timely fashion and in good order.

Read the entire article:  What's Needed on a Commercial Import Invoice

A Checklist To Expediting Clearance of Goods On Imports

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Whether you use your own transportation company (i.e., UPS or FedEx) or your supplier’s preferred shipping carrier, you will want to minimize errors on your importation, which can cause shipping delays. I’ve prepared the following 10-point checklist to use as a guide for expediting the clearance of your goods. It gets down to “the devil being in the details,” so pay attention to what needs to be done and do it accurately.

Read:  A 10-Point Checklist to Expedite Clearance of Goods On Imports

Developing a Global Brand for a Small Business

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We’ve all heard the saying, "first impressions matter," and it rings true for small businesses looking to expand into the global marketplace. Creating a global branding campaign for your small business doesn’t have to be a costly endeavor. But it’s something that’s vitally important to the global success of your business.

To develop a brand as global as Mickey Mouse, what do you do?

Read:  Global Branding For Small Businesses