First things first: choosing the right product

If you would like to be a top importer and stand out head and shoulders above competitors, your first priority is choosing a good import product. This may seem logical, a given even, but if you don’t get this fundamental first step right, your business may never take off. We suggest taking your idea to the next level and following a scientific approach:

Research is key

The worst thing you could possibly do is to blindly jump into a business idea. A good concept is a great place to start, but you have to do your homework before you begin importing and selling products. Here are a few key questions that you need to answer:

Who is your target market?
Who are your competitors?
Why would your target market rather choose your product?
What makes your product unique?
What will your selling price be?
What will your profit margins be?
Do you have the capacity to offer quality products as well as excellent service?

Choose a growing market

Choosing a good import product a growing market offers more buyer potential. You may also find it easier to receive publicity or media attention.

How do you know whether a market is growing or not? Again, it’s best to do proper research. Look at Amazon’s bestseller list, use the Google Trends tool, talk to your target market and use the power of social media to your advantage.

Choose between value and volume

Will you be importing low cost items, like balloons, or expensive products, like computers? This decision will impact your strategy in a great way. If you sell low cost items, you need to sell a lot more units to make it worth your while. The benefit is of course that buyers spend money on low cost items more easily. If you sell high cost items, you’ll have a greater profit margin, but it might be more difficult to convince customers to choose your products. The key to choosing a good import product is proper market research to make sure that your product and pricing is right.

Offer support

You need to think further than just selling your product. If there is one thing that will give you a competitive edge, it’s offering good customer service and support. If you build a relationship with your customers it will be much easier to generate more sales from them, especially if you also start importing related products.

Be passionate about what you do

This may seem like a trivial point, but it really does make a difference. Think about it, if you import and sell rugby balls but you hate the sport, you will most probably not be the most convincing salesperson. If you are passionate about what you do, you will automatically put more effort into your venture. You will have a reason to get up and start work in the morning. Choosing a good import product that you are passionate about means that you will more likely make a huge success of it.

For more information and specific examples on how to source the right products, you can read our How to Source or Sell Products guide.