FAQs

Q. How much money do I need to start a home-based exporting (or importing) company?

A. Not much. If you start out as an export management company working on commission, as I recommend, you only need enough funds to open a home office. Usually this means business stationery, a separate business line, telephone, fax machine and a computer. Importers don't make an overseas buy until they have a buyer lined up. (back to top)

Q. What's the best product to export?

A. I really wish I could give a simple answer to this frequently-asked question but the simple answer is, there is no best product. If a product sells in the U.S., it will probably sell overseas. The only way to know for sure is to do a little research. My information packages show you how to do that. My monthly newsletter, The International Trade Connection, which is included with many of my trade packages, frequently lists hot markets and hot products. In my books, videos and software, I also list product areas that are most in demand overseas. The best way to find a likely product is to build on an "edge" you enjoy. (back to top)

Q. I don't have an "edge" to give me a head start in importing/exporting.

A. Sure you do. You just don't know what it is yet. Your edge may be relatives, friends or business contacts overseas. One exporter started out as a shoe salesman! His edge was familiarity with shoe manufacturers. He had credibility when he approached them as an exporter. Even if you have no job right now, your edge could be past contacts or experience. A housewife found her edge was the time she had to do research. The key is to build upon your strengths. My material explains how in more detail. (back to top)

Q. What's the best country to export to?

A. As you might have guessed, there really is no BEST country but many new U.S. exporters start out exporting products to Canada. The reasons? It's the U.S.'s largest trading partner, the population speaks English, wants and appreciates many of the products manufactured in the U.S. and it's right next door. This makes shipping and meeting buyers and representatives much easier. On the other hand, if your "edge" is contacts in another foreign country, by all means start there. It's more important to focus on your edge than on any one product or any one country. (back to top)

Q. What's the best country to import from?

A. Of course you have figured out by now that there is no one country that's right for all traders and all products. There are far too many countries and products and the world is changing so fast that yesterday's "bad" country could be today's "great" country. A case in point is China. While that nation still provides many challenges for new importers, it also offers tremendous opportunities as well. These days I spend more time in my trade information products and in my monthly newsletter addressing the opportunities and challenges in China. Just a few years ago, I was warning new traders to "stay away!" Other good markets are in Southeast Asia and India. If the dollar is weak and you are a U.S. importer, markets in Europe are not as attractive as they once were. My newsletter, The International Trade Connection, keeps my clients informed of the best new opportunities. (back to top)

Q. What's the best product to import?

A. If I (or anyone) honestly knew the answer to this question, I would simply give you my phone number, have you call me and charge you a whole lot of money for the information! The fact is there is no one answer. It depends upon you -- your background, interests, contacts -- changing world conditions and the results of research and testing. Anyone who tells you otherwise is just fibbing -- or trying to get your money. There are ways to determine what are the best products for you and I address them in my trade information packages. I will tell you this: people call me all the time with the latest "hot product" idea. Usually -- not always, there are exceptions -- these products are so hot that just about everybody is trying to sell them. Lots of competition will not put lots of cash in your pocket. On the other hand, you don't want to be trading goods no one else is selling. Finding that balance is something I address in my startup packages. (back to top)

Q. What if I don't live in the U.S.?

A. Although it's true that my products were designed for U.S. traders, about 25 per cent of my orders are from overseas clients and I have sold to just about every country in the world (recently I finally received my first order from Outer Mongolia!). If you have access to a computer and the Internet, most of the information in my trade packages will be useful. The strategies are universal, no matter where you are located. Information specific to the U.S. such as Customs will not apply to non-U.S. traders but most of the U.S.-based resources are available (and useful) to traders outside the United States. All videos are now available as digital downloads via my Clients-Only website and can be viewed in all countries. You will need to have a broadband Internet connection to view the videos. (back to top)

Q. What about exporting overstock/surplus merchandise?

A. A lot of new exporters want to start out exporting liquidation or overstock products. It's true, there is a good business exporting these products and the profit margin can be great. The particular challenge is finding an overstock or liquidation product you can export again and again to your overseas buyers so you're not always looking for new ones. As an example, let's say you buy a container-load of surplus bus tires that you happened to find for sale in your community. You ultimately find a buyer in, say, Mexico and you make a nice little profit on the sale. A few months later, he calls you back for more bus tires but you can't locate any. Instead, you want to sell him some hacksaws you found at a liquidation auction. The problem is that if he's looking for bus tires, he probably won't be interested in your hacksaws. Now you have to start over finding a new buyer. You can't sell more products to the buyer you worked with before because he doesn't want what you're selling now. There are ways around this, however. My program, The Computer User's Guide to Exporting Overstock/Surplus Merchandise, has some tips and contacts. (back to top)

Q. Which of your information packages is right for me?

A. I offer a range of trade products for new entrepreneurs depending upon their interest level and financial situation. Click here if you want to review them now. It's always best to give me a call at 850-438-5527 if you want to talk about the best single package for you, but the following holds true for most people. If you aren't sure this is the opportunity for you but want to investigate to find out what's involved, I recommend ordering How to Start and Operate a Profitable Home-Based Exporting Company. Many of my clients who have a computer and want everything they need to get started in exporting order The Computer User's Guide to Running Your Own Exporting Company. You'll also receive the "...Profitable Home-Based Exporting Company" book with this package, along with other bonuses described at this page. The Exporter's Master Package includes everything above and also an extended newsletter subscription, a separate Workbook and more than 140 minutes of video from discussions I had with exporters, bankers, brokers and freight forwarders about matters of most importance to new exporters. For importers, I recommend The Computer User's Guide to Running Your Own Importing Company which has everything you need to get started as an importer. Finally, if you want to go "whole hog" and get everything you need to start your own import-export company, you'll want to order The Import-Export Toolkit. It has everything I discuss here (and just about everything I produce!). It's the best value for international traders serious about starting an international trade business. (back to top)

Q. I don't speak a foreign language.

A. The international language of business is English. If you know the language in your target country, that's an advantage (it could even be your "edge") but it isn't necessary. (back to top)

Q. What about problems with currency transfers?

A. You can conduct your business transactions in dollars. Just as English is the language of business, the U.S. dollar is the readily-accepted currency of international business. Many companies don't export because they worry about currency transfers. You can calm their fears -- and get their business -- by offering to handle all the currency problems. Then request payment from the overseas buyer in dollars. Voila! No currency problems. (back to top)

Q. Do I need a computer?

A. I highly recommend a computer. A computer will allow you to find good markets and suppliers on the Internet -- and communicate with them. There is an incredible amount of information available for free. With a computer you can get that information at a time convenient to you. My Computer Users Guides show you how to use your computer in international trade. (back to top)

Q. Do I need a license?

A. If you live in the U.S. and you're talking about a special export license, the answer is "no, probably not." Most products can be shipped by simply entering NLR (No License Required) on the shipper's export declaration. There are certain products (some commodities, computer software) that ARE licensed by the Bureau of Industry and Security (formerly the Bureau of Export Administration). Your freight forwarder can probably tell you if a license is required for your product, or you can call the Bureau directly (202-482-4811). Other countries have different requirements so be sure to check in advance. (back to top)