Ben Means Business

Export trade is one of the most lucrative business models on the web. I'm always shocked to find the number of Internet guru's who overlook this method. I know that a lot of people are actually scared off by the high scam and fraud levels but the actual compensation for successfully brokering a trade is usually 10 times anything you could make blogging, marketing, etc...

It's more than worth the extra work you will have to do to ensure legitimacy of customers. The best part about it is that you do not actually have to have possession of the product. The best way to actually do it is to serve as a trade agent and collect a commission.

WHAT DO I HAVE TO DO?

All you have to do is see what foreign buyers want and find a manufacturer who will sell the products at good prices. You oversee the trade and collect your commission. You can do all this via email. People are trading everything from auto parts to paper products.

The kicker is that when foreign buyers are importing, they usually want 30,000 t-shirts instead of the low quantities you would sell to a retail customer. Can you see where the increase in profit comes in? I suggest that anyone spending time on the web look into this opportunity.

A WORD OF CAUTION

Remember that the risk of fraud is extremely high so you have to do your homework and know who you are dealing with. I would stay away from public websites like Alibaba. I only consider trade leads from U.S. gov't owned websites like http://www.export.gov/. The buyers are pre-screened before they ever make it onto this site. This gives you some security. A few more tips are listed below.

EXPORT TRADE TIPS:

1) Visit http://www.wbe.net/ (Export Trade Course)
2) Familiarize yourself with "Incoterms" (Standard Trade terms)
3) Don't be afraid to verify information given with U.S. Embassy
4) Don't release goods until payment has fully cleared into your bank

I'm not saying export trade is for everyone, I'm just saying it’s an option that I have been toying with for some time now and know it to be very lucrative. Definitely something else worth adding to your repertoire.

I have bid on a couple contracts now that I did not get. Let's just say had I completed them I would have moved up into another tax bracket. Now that I have a good idea of how everything works, it’s only a matter of time. Leave Your Comments...