THOMAS
International
World Trade
Trade Resources
Getting Started in World Trade
Wholesale, Closeout &
Liquidation Resources
"Frequently Asked Questions
and Answers About
Starting a
Home-Based Exporting Company"
Q. How much money do I need to start a home-based exporting company?
A. Not much. If you start out as an export management company working on commission, as we recommend, you only need the funds to start up your home office. Usually this means business stationery, a separate business line, telephone, fax machine and a typewriter or computer.
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 newsletter lists names of small and mid-sized companies that are in highly-exportable fields but aren't exporting now. 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.
Q. I don't have an "edge" to give me a head start in 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 book explains how in more detail.
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.
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.
Q. Do I need a computer?
A. I highly recommend a computer but it's not absolutely necessary. Still, a computer will allow you to find good markets and suppliers by cruising the Internet and the World Wide Web. 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 the computer in international trade.
Copyright 1999 Spyglass Point Productions
Reprinted with permission of Dennis Hessler