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Planning and Executing an Import business
The high returns of an import business means that you will get a bigger return for your time and that you can start with an investment of less than $100. The further added advantage of such a business is that you can run it right out of your home and it has the potential of growing your wealth faster than in any other business.
Before you start an import business it is however recommended that you first carry out a market survey of the specialty product that you intend to sell. This will help you determine how many units other firms handling your specialty product are selling.
This survey should include asking friends and associates if they would buy a given item and at what price they would be willing to pay for it. Make sure you have a market for every import before you buy it. Never order an import until you know how many units you can sell and at what price.
For low priced products you may not have available dependable information and you will therefore have to trust your instinct. This you do by observing what is popular and selling today and by predicting what will be popular tomorrow and watching to see if your predictions are true.
Pick the ideal Import
The ideal import will usually be light, safe, cheap (not costly), shippable, quickly available, unique( not easily duplicated), solely available to you, smaller than competing items, simpler to use than others products.
In other words the product must be different and offer something different than what is locally available. No import will off course ever possess all these ideal features. It is therefore for you to weigh and get the most desirable.
Imports worth considering would include cotton cloth products like shirts, trousers, and other garments for children and adults in new and unusual designs. Peppers and spices form all over the world with unique tastes would be another success. Yarns and threads for the home and professional markets may also be popular and sell well. Art and craft from other countries as long as it offers something new may also be successful.
Read more: http://bizcovering.com/business/planning-and-executing-an-import-business/#ixzz1QQ8NajUE
Before you start an import business it is however recommended that you first carry out a market survey of the specialty product that you intend to sell. This will help you determine how many units other firms handling your specialty product are selling.
This survey should include asking friends and associates if they would buy a given item and at what price they would be willing to pay for it. Make sure you have a market for every import before you buy it. Never order an import until you know how many units you can sell and at what price.
For low priced products you may not have available dependable information and you will therefore have to trust your instinct. This you do by observing what is popular and selling today and by predicting what will be popular tomorrow and watching to see if your predictions are true.
Pick the ideal Import
The ideal import will usually be light, safe, cheap (not costly), shippable, quickly available, unique( not easily duplicated), solely available to you, smaller than competing items, simpler to use than others products.
In other words the product must be different and offer something different than what is locally available. No import will off course ever possess all these ideal features. It is therefore for you to weigh and get the most desirable.
Imports worth considering would include cotton cloth products like shirts, trousers, and other garments for children and adults in new and unusual designs. Peppers and spices form all over the world with unique tastes would be another success. Yarns and threads for the home and professional markets may also be popular and sell well. Art and craft from other countries as long as it offers something new may also be successful.
Read more: http://bizcovering.com/business/planning-and-executing-an-import-business/#ixzz1QQ8NajUE
The Concept of Pricing Your Products or Services
An appropriate pricing strategy can increase sales, increase profits, and separate your business from the competition.
The first thing that one needs to do to effectively price their product or services is to determine the total costs of the product or service in order to set the theoretical floor for pricing decisions. Material cost, labor cost, and overhead cost institute the total cost of producing a product or service.
Creative Pricing Techniques
1) Skimming Pricing: – Set initial prices relatively high to recover the initial capital spent, developing the product or opening the store. Feature on quality, service or uniqueness. Use this method only if you can capitalize on a current trend or fad.
2) Penetration Price: – Set initial prices low at first to quickly penetrate the market. As business develops gradually raise prices to a more profitable level. Feature or capitalize on low prices and convenience. Be careful however not to set your prices too low that the customers think your products are inferior.
3) Promotional Pricing:- Set special low prices to introduce new products or a new line. Consider two- for- one specials end of season sales. This method maintains traffic stimulate demand and make room for new merchandise.
4) Loss-Leader Pricing:- Select one item and advertise it at its lowest cost to create store traffic and sell other regularly priced items. Loss-leader pricing is only appropriate for items that already have low margin but can drive sales of accessories or related items.
Read more: http://bizcovering.com/business/the-concept-of-pricing-your-products-or-services/#ixzz1QQ6H1jCS
The first thing that one needs to do to effectively price their product or services is to determine the total costs of the product or service in order to set the theoretical floor for pricing decisions. Material cost, labor cost, and overhead cost institute the total cost of producing a product or service.
Creative Pricing Techniques
1) Skimming Pricing: – Set initial prices relatively high to recover the initial capital spent, developing the product or opening the store. Feature on quality, service or uniqueness. Use this method only if you can capitalize on a current trend or fad.
2) Penetration Price: – Set initial prices low at first to quickly penetrate the market. As business develops gradually raise prices to a more profitable level. Feature or capitalize on low prices and convenience. Be careful however not to set your prices too low that the customers think your products are inferior.
3) Promotional Pricing:- Set special low prices to introduce new products or a new line. Consider two- for- one specials end of season sales. This method maintains traffic stimulate demand and make room for new merchandise.
4) Loss-Leader Pricing:- Select one item and advertise it at its lowest cost to create store traffic and sell other regularly priced items. Loss-leader pricing is only appropriate for items that already have low margin but can drive sales of accessories or related items.
Read more: http://bizcovering.com/business/the-concept-of-pricing-your-products-or-services/#ixzz1QQ6H1jCS
20 Ways to successfully Advertise your products or services
To run a successful business you must have a way or ways to make people know about your services or products.
In the early days or in the set up, your concentration should be more in public relations, sales promotions and personal selling than on advertising. To get results from your advertisement follow the following guidelines;
1) Know your objectives- ask yourself what you intend to achieve with your advertisement before launching out.
2) Remember advertising is salesmanship in print and the more you tell the more you sell.
3) Ensure your promotional efforts are measurable .
4) Remember specifics sell, for instance 29 is more believable than 30.
5) Use a headline that flags your reader down based on who they are or what their interests are
6) Identify with their problem or need, for example “being a caretaker is emotionally draining. It is almost a 24/7—”.
7) Hint at a solution, for example “now there is an easy way to—”.
8) Explain how you are going to solve their problem, for example, “at ABC we have —”.
9) Show them proof by giving specific results, when mentioning testimonials and mentioning a guarantee.
10) Articulate your point of difference or what sets you apart from your competitors. Shout it out from the rooftops, for example, “multicultural based—-” .
11) Offer free information like a catalogue. Describe the free information and why it is useful.
Read more: http://bizcovering.com/marketing-and-advertising/20-ways-to-successfully-advertise-your-products-or-services/#ixzz1QQ3jkDgo
In the early days or in the set up, your concentration should be more in public relations, sales promotions and personal selling than on advertising. To get results from your advertisement follow the following guidelines;
1) Know your objectives- ask yourself what you intend to achieve with your advertisement before launching out.
2) Remember advertising is salesmanship in print and the more you tell the more you sell.
3) Ensure your promotional efforts are measurable .
4) Remember specifics sell, for instance 29 is more believable than 30.
5) Use a headline that flags your reader down based on who they are or what their interests are
6) Identify with their problem or need, for example “being a caretaker is emotionally draining. It is almost a 24/7—”.
7) Hint at a solution, for example “now there is an easy way to—”.
8) Explain how you are going to solve their problem, for example, “at ABC we have —”.
9) Show them proof by giving specific results, when mentioning testimonials and mentioning a guarantee.
10) Articulate your point of difference or what sets you apart from your competitors. Shout it out from the rooftops, for example, “multicultural based—-” .
11) Offer free information like a catalogue. Describe the free information and why it is useful.
Read more: http://bizcovering.com/marketing-and-advertising/20-ways-to-successfully-advertise-your-products-or-services/#ixzz1QQ3jkDgo
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