You are exceptional and unique. There's really no way to categorize someone with all of your diverse talents. You are fun, spontaneous, clever and interesting. Your friends like to be around you because of your easygoing nature. Underneath the relaxed exterior, you are passionate and intense and always keeping an eye out for that special someone who can return your affection with anywhere near the same focused attention that you easily give. You are stubborn about protecting your emotions, so very few, if any, of your friends are privy to the knowledge that your ideal life is one that's shared intensely with a partner. You are so protective of these feelings that it's not until your early 20's that even you realize the degree to which you want a mate.
Your personality is complex and has conflicting traits that can make you unpredictable to people who have just met you. You are unconditionally accepting of your friends. You just want to laugh and have fun and the quirkier someone is, the more entertaining it is for you. At the same time, you're quick to distinguish who is a trusted friend from who is a stranger.
You know how unconditionally accepting you are, so the people who do irritate and frustrate you really have to go out of their way in manipulating and disrespecting others in order to get on your bad side. Rather than confront those people, you're likely to just avoid them until they are out of your life. You see the benefit of conflict, but it's just not your style to be the one who creates conflict where it's not absolutely necessary.
With that said, you often end up being friends with people that are a little bit difficult. You would rather be with quirky people who you understand than perfectly socially acceptable people who you don't connect with.
You are a particularly honest person. You're so accepting of people for who they are that your honest thoughts are rarely negative. In fact, your speech is filled with celebration and affirmation of the differences in the people around you. When you can't say something nice, you're more likely to say nothing at all, or wait for the annoying person to leave and release the pressure by discussing it with your trusted circle of friends. You respect honesty in others and you know that life is simply happier for everyone when everyone is up front about what they're thinking.
You moods and thoughts are unpredictable, so it makes sense for you to avoid locking into schedules when it's not necessary. You thrive in freedom, particularly in an atmosphere of love and trust. You weren't meant for desk work or nine-to-five bracketing of your life. So while other people schedule their lives to the second and waste energy preparing for problems which may never arise, you live free, seeking opportunities and enjoying each moment as much as possible.
You are artistic. You know what looks good together, what sounds good together, and what smells or tastes go together. This comes from a higher than normal tuned in attention to slight variations in color, texture, tone, and flavor. You have the same intense analytical ability when it comes to music. You are much more likely than other types to really feel and indulge in the subtle nuances of different music, connecting deeply with songs and genres that other people don't even know about.
When faced with a problem you are most likely to solve it in the most obvious way, not implementing cumbersome standard methods or finding what is 'socially acceptable' first.
Most people you interact with do not really know you. This is partially because of your reserved nature (you don't tell them much), partially because most other types are less reserved (they spend too much time talking and not enough asking about you), and partially because you accept people the way they are (you don't feel much of a need to evaluate others, so people don't realize how you think differently).
In fact, you have more interest in expressing yourself through your actions, even through song or dance, rather than verbally. You may give up too quickly when someone asks for a verbal explanation of your thoughts. Or you may believe that they wouldn't truly understand even if you did explain it, so there's no reason to bother with the effort.
As a leader or parent you are non-directive, preferring to see what happens on its own rather than lay down strict procedures and give orders. To you it is understood that any procedures developed by necessity today disappear tomorrow unless they are still absolutely required.
Your influence is direct but not confrontational. You can become uncomfortable when someone is being directly confrontational with you and you feel like your opinions aren't being heard. If you become difficult or cranky it is usually a result of someone else trying to impose some rule or boundary upon you. You want to be comfortable and you want the people around you to be comfortable, so you're quick to either defuse or leave such situations. You want people to either be nice to each other or leave each other alone.
You know what tastes good, what feels good against your skin, and what smells satisfy you. Of all personality types, yours is first to notice the signs of hunger, fatigue, sleepiness or discomfort in your body, and you can get quite irritable and distracted if those issues are not resolved in a timely fashion. You have a holistic view of the connection between your mind and your body and are aware of the direct connection between the food you eat and the status of your body. Within a few minutes after eating you are mentally taking note of how that food has affected you. You realize that the cells in your body are composed of the material that you eat, so your refrigerator is usually stocked with organic and natural foods. You are so in tune with your body that you notice small discomforts long before other people seem to and start planning corrective action immediately. This is necessary because an unhappy body can distract you from the rest of your life quite quickly.
Your level of conformity to any group is always negotiable. One day you may be an excited participant, but in general you find groups and strangers to be uncomfortable. You prefer the private company of a few close friends, or time completely alone, to time with any particular large social group of people.
You really want to like people, and there are some that you truly love, but you take each new person in a group as an individual. You maintain your individual personality in any group and are repelled when people pressure you to conform. If you do participate regularly in any social group it is with minimal investment of your feelings. You are something of an observer even while being a participant, and it takes little to convince you that you need a break or to leave the group altogether.
You are impatient and get distracted easily. It would be amazing if you read all of these paragraphs in one sitting.
You don't desperately need a relationship like some others do, but the reality is that you're almost always looking for someone new when you're single.
You have a deep, philosophical side which few people really get to know. You are constantly growing and evolving, always working to become the most authentic version of yourself. You live by pure, simple values and they're evident in every action you take. Because of your pure, honest goodness, anyone would be lucky to have you as a partner.
You are rare and unique, and your final match is just as unusual. A general overview of their details is on the next page.
To you a relationship is about getting to know each other and love each other's quirks. You excel at making people feel comfortable.
Your match is as unique and rare as you are. While other people are out judging each other and looking for reasons to disqualify a potential mate, you're enjoying the differences you encounter and offering endless affection to whomever you're considering. All the crazy ideas you have that other people either dismiss or ignore will connect directly with your match and draw them even closer to you. You won't always agree on everything, but your match will accept you for who you are and will truly expect nothing from you but your honest, authentic self. Most importantly, your match will offer you the same love that you have to give. This person is unusual, but we're experts at identifying them and introducing them to you.
Based on your personality traits alone, we estimate that approximately 1 in 100 people will have the personality traits required to qualify for a high likelihood of very strong long term romantic chemistry with you. Luckily for you, our system will go on thousands of dates for you and select just the top ones out of 100 for you and display them on your My Matches page.
According to the latest United Nations population data:
In India there are 3,905,505 unmarried 27yr-old males
and 3,200,211 unmarried 27yr-old females.
That means there's a ratio of 0.81 ladies for every man
And 1.23 men for every lady.
On your Matching Preferences page you are currently set to be matched with people between 21 and 31 years old. By multiplying the rarity of your personality match by the total number of singles in that age range:
There are approximately 6,554,837 unmarried males and 6,403,354 unmarried females who would be very high chemistry matches for you in India.
These numbers are based on personality alone though. We recommend keeping a wide search radius to increase your odds of meeting your match since not everyone has signed up and is active on our site. You can further sort through those people to find your ultimate match by selecting religion, age, location and several other factors on your Matching Preferences page.
You are not inclined towards desk work. You avoid anything tedius and repetitive and aim towards anything which keeps you stimulated and holds your attention. You don't like to be surrounded by high-stress people. While you can survive in a corporate environment as well as anyone, you prefer hands-on practical work like building, fixing or creating something you can see, touch, taste or hear. You prefer work which is not fixed to a procedure, but which may, at any time, take an entirely new direction if the impulse hits you. Since you're interested in everything you're more likely than other types to end up in a job which you 'fell into' because there happened to be an opening and you were available. But when it comes to where you'd like to be, there's no doubt that you want something fun where you don't have to stress or be bored.
One thing that makes eChemistry different from other personality profiling sites is that we don't try to pigeonhole you. We want to know the actual reality of what it's like to be you. Here are the actual answers typed into our personality test by people who came out as having a very similar personality to you. There is no better teacher than experience, see if you can find your own pattern for what people who are a lot like you end up enjoying as careers.
A 43 year old man is a PC Technician/Cable specialist who describes the ideal job like this:
The perfect career for me would be a Pilot; I love to fly. A good hobby would be a decent photographer for Sports Illustrated Swim suit edition.
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A 32 year old woman is a Manager, Strategic Relationships who describes the ideal job like this:
I have the perfect hobby for me - competitive ballroom dancing.
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A 32 year old woman is a Sales Representative who describes the ideal job like this:
Sales - working with the public.
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A 27 year old woman is a Worker at a t-shirt print shop who describes the ideal job like this:
Hobby: swing dancing! Career: if I knew that, I'd do it
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A 21 year old woman is a Part time student seeking part time job who describes the ideal job like this:
I don't know, but definitely something that isn't boring that I love, something to do with science like geology or archaeology; something to do with art or literature like an editor or curator; something to do with languages. The fact is there are so many careers and things that I would love to do that it is hard to decide on just one thing, though I would like something that would let me travel, and be creative.
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A 30 year old woman is a Asst Director for Finance who describes the ideal job like this:
My perfect career would probably involve working with children in a positive environment, helping them to achieve goals in their lives even if they are at a huge disadvantage to accomplish these goals. My perfect hobby would involve something creative to produce things that I can give to people which they would enjoy (like knitting but not limited to that outlet!).
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A 25 year old woman is a Massage therapist who describes the ideal job like this:
Massage (self-employment), blues dancing
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A 25 year old man is a Magician and musician who describes the ideal job like this:
The perfect career would be something that allows me to entertain and meet lots of people. I would prefer something involving my talents in music or any other of my hobbies.
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A 29 year old woman is a Child counselor who describes the ideal job like this:
Child therapist, psychologist
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A 29 year old woman is a Senior Graphic Designer who describes the ideal job like this:
Anything to do with art, which fortunately is the career I have.
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A 29 year old woman is a Babysitter who describes the ideal job like this:
The perfect career for me would be a writer because I love writing.
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A 26 year old woman is a International relations student who describes the ideal job like this:
Creative work within a cheerful environment
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A 22 year old woman is a Uni Student who describes the ideal job like this:
Something creative but relaxed, like perhaps an author who has already made their fortune and now has no deadlines, just freedom to create.
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A 21 year old woman is a Sci-fi novelist who describes the ideal job like this:
Career? Novelist, or maybe a biology teacher. Hobby? Chess.
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A 39 year old woman is a Self-employed who describes the ideal job like this:
Running my own business. Definitely not working for someone else, too limiting. Doing anything where I can use my brain to come up with original workable ideas. Then be a guide to other people who are interested in the same things.
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A 26 year old woman is a Service industry; artist; writer; DJ; volunteer who describes the ideal job like this:
The perfect career for me would be doing something that I truely enjoy whether I make a lot of money or not. and, I do not want to feel the pressure of having to have a "piece of paper" (college degree) as a requirement for my job. I want for my true experiences and talents to get me anywhere in life, as long as I am enjoying what I am doing and inspiring others along the way. therefore, being a musician: DJ, producer, or vocalist as well as a writer and poet would completely suffice for me.
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A 51 year old woman is a Computer operations who describes the ideal job like this:
Environmental research
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A 39 year old woman is a Screenwriter who describes the ideal job like this:
A creative, artistic endeavor that involves working with others
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A 22 year old woman is a Events Executive who describes the ideal job like this:
A job with freedom and interaction. Copy-writing is one. The other would be events; however, the pressure you can accumulate from both clients and the boss is extremely frustrating.
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A 32 year old woman is a Administrative Assistant who describes the ideal job like this:
Entertaining (acting, singing, dancing)
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A 57 year old woman is a Bioscience Researcher who describes the ideal job like this:
Psychologist, dancer
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A 48 year old woman is a Career Counselor at a college who describes the ideal job like this:
Counselor of some sort, like academic advising, career counseling, or mental health counseling.
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A 26 year old woman is a Documentation Analyst who describes the ideal job like this:
Photography, office work
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A 55 year old woman is a In transition who describes the ideal job like this:
An artist, poet, painter, writer, photographer
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A 24 year old woman is a Medical Scientist who describes the ideal job like this:
Be a lawyer with some scientific stuff thrown in too.
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A 23 year old woman is a University student who describes the ideal job like this:
I think a career/hobby in the music or arts would be something for me. I enjoy music very much and do play the guitar myself, and I am interested in music history (mainly rock, metal and punk). I also study art history and find this very interesting, so there would absolutely be something there. Also, I am interested in computers and would probably find something to do there; web design and such.
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A 23 year old woman is a Education teacher teenagers who describes the ideal job like this:
Human concerns social worker teacher doctor
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A 26 year old woman is a Women's Studies and English Lit student who describes the ideal job like this:
College professor
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A 49 year old woman is a Professional who describes the ideal job like this:
Pretty much what I am doing now -- I feel fortunate to have found my career path by happenstance. I do research, data analysis, policy analysis and community development mostly for non profits. I work largely independently but also have some interaction with others (who are mostly highly skilled and knowledgeable in their work). I get to work with computers and information and learn new things every day.
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A 35 year old woman is a Brand Management who describes the ideal job like this:
Screen writer
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A 33 year old woman is a Project coordinator who describes the ideal job like this:
Artist, something creative. I love to use my hands to paint, sew, mold and write.
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A 39 year old man is a Senior Graphic Designer who describes the ideal job like this:
I am in my perfect career right now. I love my work and what I do. I have always been artistic and now have a chance to use it fully.
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A 22 year old woman is a Sales associate. who describes the ideal job like this:
The perfect career would be something in the artistic field.
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A 35 year old woman is a Restaurant Manager who describes the ideal job like this:
Child Pycholoigyst, Criminal, Lawyer, Actor, Nurse, Probation Officer
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A 34 year old woman is a Network surveillance tech who describes the ideal job like this:
Counseling or working for a nonprofit organization
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A 23 year old woman is a Medical Assistant Student who describes the ideal job like this:
Fashion Designer
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A 27 year old woman is a Waitress/Student who describes the ideal job like this:
Something that works with helping others, either physically or emotionally
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A 23 year old woman is a Full-time Uni Student who describes the ideal job like this:
Hobbies: Art, music, writing (creative things without deadlines or limits to the expression) Careers: Accounting, Lawyer, Historian (anything analytical, straight-forward without too much emotion to side track you)
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A 23 year old woman is a University Student who wants to be university lecturer one day. who describes the ideal job like this:
I want to be a university lecturer in the chemistry field or a researcher.
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A 31 year old woman is a Reception hostess who describes the ideal job like this:
I would like to be a counselor or an interior designer.
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A 24 year old woman is a College student who describes the ideal job like this:
Professor, philosopher, artist, writer, musician, social science researcher, scientist, social worker, real estate agent
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A 24 year old man is a Warehouse Supervisor who describes the ideal job like this:
My perfect career would definetly be something hands on where im in control of my own job, or in control of others.
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A 30 year old woman is a Crafter, art student who describes the ideal job like this:
Grafic desing
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A 26 year old woman is a College student who describes the ideal job like this:
Wedding planner
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A 26 year old man is a Forkilft driver who describes the ideal job like this:
Hobby: radio controled aircraft modeling career: commercial pilot
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A 52 year old woman is a Databank Administrator, Personal Assistant who describes the ideal job like this:
Something that is creative, fulfilling, rewarding, stimulating that keeps my brain working.
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A 37 year old man is a Teacher of what I have to teach who describes the ideal job like this:
Now I think that I would like to be a scientist studying something like biology or chemistry, be totally immersed in what I am doing, enjoy the excitement of exploration, produce results and sometimes not give a farthing about other people's opinions except, perhaps, for a few select ones.
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A 29 year old woman is a Manager Parks & Tourism who describes the ideal job like this:
Anything that'll bring me to the outdoors. I currently work in an office doing the paper work and budgeting, and I would rather be out there doing the actual projects "Hands On", but I know I'm in a position to make more of a difference as well as gain great experience to eventually do and go where I want. Open doors to more possibilities.
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You love to be entertained, and you hate to be bored. You're likely to spend more time seeking out really good entertainment than most other people, but you're more forgiving about identifying the best qualities of each movie regardless of whether it really connected with you or not. You like entertainment to be upbeat, so you're more likely to switch between the Comedy channel and the Learning channel than to catch up with the evening news.
Tastes in books and movies vary significantly. Here are the favorites of people who came out with similar personalities to yours.
A 43 year old Man has favorites of Books: 1984 by George Orwell, Animal Farm, Resurrection by Leo Tolstoy, The Lord of the Rings, works of JRR Tolkien, all of Stephen King's works, all of Tom Clancy's works, Gates of Fire, War and Peace, Odyssey. So many good books, so little time. Movies: Bladerunner, all the Monty Python movies, Time Bandits, The Labyrinth, Fight Club, Hotel Rwanda, Fahrenheit 911, Spartacus, American History X, The 300 Spartans (based on the Gates of Firebook old movie), The Dark Crystal, all of the Star Wars, and so many many more.
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A 32 year old Woman has favorites of I love the fantasy genre - Ann Rice, J.K. Rowling, anything that has to do with Vampires, Witches or Sci Fi is fun for me. The Princess Bride is one of the best movies ever.
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A 32 year old Woman has favorites of Bridges of Madison County I Know This Much is True Breakfast at Tiffanys
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A 27 year old Woman has favorites of There are too many!! Some movies: Boondock Saints; Kontroll; Me, You, and Everyone We Know; The Broken Hearts Club; Napoleon Dynamite. Some books: Good Omens by Neil Gaiman and Terry Pratchet; So You Want to Be a Wizard (and the rest of the series) by Diane Duane; One Hundred Years of Solitude by Gabriel Garcia-Marquez
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A 21 year old Woman has favorites of I don't think I'd ever have time to write all of them, I love books so much that the thing I have most of in my house is books and bookcases. My favourite authors are Terry Pratchett, Douglas Adams, Dianna Wynne Jones and JRR Tolkien, so you can guess that I like the sci-fi fantasy genre alot, I also like Nick Hornby and I loved Li Cunxin's "Mao's Last Dancer". I love alternative movies most out of all the genres, so I love quirky films like "The Royal Tenenbaums", "The Life Aquatic", "Eternal Sunshine of the Spotless Mind", "Amelie", "The Spanish Apartment", "The Princess Bride" etc etc
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A 30 year old Woman has favorites of Books: Motherless Brooklyn, White Teeth, Cat's Cradle, High Fidelity, Middlesex, Bridget Jones' Diary Movies: Godfather I & II, Indiana Jones trilogy, Memento, Amelie, Batman Begins, X-Men, Kung Fu Hustle, The Matrix, The End of the Affair, Talk to Her, The Shawshank Redemption, Strictly Ballroom, Bring It On, most of the Star Wars movies, Secretary, Crash, Snatch, Run Lola Run, The Usual Suspects... and the list goes on and on, I am kind of a movie junkie!
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A 25 year old Woman has favorites of Robert Jordan's Wheel of Time series, anything by Chuck Palahniuk, Syrup, Jennifer Government, Lolita, Hitchhiker's Guide, The Fountainhead, Timeline, Brave New World, Ish, Fight Club, Boondock Saints, Eternal Sunshine Of the Spotless Mind, Garden State, GATTACA, Ever After, Usual Suspects, Neverending Story, The Life of David Gale, Braveheart, Amelie
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A 25 year old Man has favorites of Books- Anything comical that makes a good time. Preferably fiction that lets my mind wonder. Mainly anything that's just overall entertaining. Movies- Generally the same as books. But at the same time, I like to give anything a chance. You never know what you may find.
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A 29 year old Woman has favorites of Movies: The Horse Whisperer, The 40-Year-Old Virgin, Wedding Crashers, Anaconda: The Search for the Blood Orchid Books: medical thrillers
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A 29 year old Woman has favorites of Ok this is the shortened version... Books: The Sword of Shannara by Terry Brooks, Sati by Christopher Pike, The Odyssey by Homer, The Dark Tower Series by Stephen King, Moonheart by Charles De Lint, The Renshai Chronicles by Mickey Zucker Reichert, Kushiel's Legacy Series by Jacqueline Carey. Movies: Garden State, The Princess Bride, The Dark Crystal, Amelie, Spirited Away, Monty Python and the Holy Grail, Donnie Darko, Orlando, Dogma, Boondock Saints.
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A 29 year old Woman has favorites of Book: The perks of being a wallflower by steven chbosky Movie: Love Me If You Dare
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A 26 year old Woman has favorites of Philosophical, psychological, thrillers, romantic
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A 22 year old Woman has favorites of Books: anything by Roald Dahl especially James and the Giant Peach and the Uncle Oswald sagas, The Diceman - Luke Rhinehart, plenty of Margaret Atwood. I'll always have a soft spot for sci-fi and fantasy. Movies: pulp fiction, the usual suspects, fargo, what's eating gilbert grape?, vertigo, edward scissorhands, the young poisoner's handbook, the emperor's new groove, ghostbusters 1 + 2, taxi driver, this is spinal tap, groundhog day, shaun of the dead, karate kid I, the shawshank redemption.
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A 21 year old Woman has favorites of I don't know. I like most suspense movies/novels, and science fiction/fantasy. Overall, though, I'll watch just about anything.
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A 39 year old Woman has favorites of Movies I like are 300, Enemy at the Gates, Gladiator, Forrest Gump. I also enjoy action, adventure and many other types of movies. Books I like are scientific, Chinese herbal, gardening, books that can help me gain information on a subject I am interested in.
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A 26 year old Woman has favorites of My all time favorite movie is "The Wizard of Oz". Other movies, such as: "Pulp Fiction" and "Office Space" follow a close second and third. As far as books are concerned, I really do not have a favorite simply because I read often and usually several books at once. Therefore, whatever I am reading at the time is my favorite. That is why it or they were chosen.
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A 51 year old Woman has favorites of We, Das Energi, 1984, Brave New World
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A 39 year old Woman has favorites of Persuasion, the Plague, Steel Beach, All That Jazz, Secretary, Apocalypse Now
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A 22 year old Woman has favorites of Books: Jemima J., Bad Boy, Pride & Prejudice Movies: Sense & Sensibility, Joy Luck Club, Amelie, The Godfather, While You Were Sleeping, Die Hard, Sleepless In Seattle, When Harry Met Sally
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A 32 year old Woman has favorites of MOVIES: The Lion King, Scarface, Raw BOOKS: The DIVA* Principle
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A 57 year old Woman has favorites of Biographies, foreign movies
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A 48 year old Woman has favorites of Books: A Wooden Sea by Johnathan Carroll, Deathbird Stories by Harlan Ellison, Conscious Living by Gay Hendricks, Mythago Wood and Lavondyss by Robert Holdstock. Movies: 28 Days Later, Shaun of the Dead, foreign films with Pascal Greggory or Alain Delon
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A 26 year old Woman has favorites of The Notebook, The Wedding Date, The Pacifier, Phantom of the Opera, A Walk to Remember
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A 55 year old Woman has favorites of Movie: Wings of Desire; Books: Opened Ground: Selected Poems by Seamus Heaney, The Skull Mantra series by Eliot Pattison-Narnia :)
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A 24 year old Woman has favorites of Movies: Terminator 2, Ferris Bueller's Day Off, Sense and Sensibility, Bed of Roses, Die Hard, Books: Anything by Patricia Cornwell or Dick Francis, Watership Down by Richard Adams, Moonlight in the Garden Of Good And Evil by John Berendt
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A 23 year old Woman has favorites of My favorite books are mostly ones by Jostein Gaarder, Stephen King, Erlend Loe and Abo Rasul. The all-time favorites must be "The Cocka Hola Company" by Abo Rasul and "Kabalmysteriet" by Jostein Gaarder. When it comes to movies, my absolute favorites are Donnie Darko, Lost in Translation, Uno, Nightmare on Elm Street (all of them), and A Clockwork Orange.
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A 23 year old Woman has favorites of Ergon Eldest by chris paolini, movies are matrix titanic
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A 26 year old Woman has favorites of Favorite books include A Wrinkle in Time, The Time Traveller's Wife, The Mists of Avalon, Mansfield Park, Villette, Written on the Body, Madwoman in the Attic. Favorite movies are Sliding Doors, The Last Unicorn, Meet Joe Black, The Red Violin, Serenity.
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A 49 year old Woman has favorites of I can't answer this question. I don't have one or two all-time favorite books or movies.
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A 35 year old Woman has favorites of The Secret, White Oleander (book), Crash, Beloved, Untouchables, Love Actually, etc.
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A 33 year old Woman has favorites of The Fifth Element, Ever After, The Mists of Avalon (book), The Lord of the Rings, Willy Wonka and the Chocolate Factory (the original movie), Harry Potter (books & movies), In Cold Blood, Still Life With Woodpecker (book), Vampire Chronicles (book series), Firefly (book), House of Sand and Fog (book), the Handmaid's Tale (book), Dante's Inferno (book), Underworld, Brave New World (book), We (book), Savages (book)
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A 39 year old Man has favorites of The Time Traveler's Wife - An excellent love story about a man who meets the woman he will eventually marry when she is a little girl then how he jumps in and out of her life disjointedly. Michael Connelly is my current favorite author. He writes great, tight stories that throw you many curve balls as the tale is told. I like how he keeps you guessing. I am a big sci-fi, mystery, and horror fan, too. Mostly, I like books that challenge my imagination and intellect.
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A 22 year old Woman has favorites of Books: Irvine Welsh: The Acid House, Glue Ernest Hemingway: A Farewell to Arms, The Sun Also Rises Jack Kerouac: On The Road Legs McNeil & Gillian McCain: Please Kill Me Marc Spitz & Brendan Mullen: We Got the Neutron Bomb JT LeRoy:The Heart Is Decietful Above All Things, Sarah Nick Hornby:High Fidelity Movies: Waking Life, Trainspotting, Rock Fresh, and I also dig zombie movies.
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A 35 year old Woman has favorites of Catch 22, Crime and Punishment, Another Roadside Attraction, The Marstian Chronicles, The End of the Affair, The Feast of Love, All books written by Christopher Moore. Movies; Oh Brother Where Art Thou, Army of Darkness, The Machineist, Someone to Spell for Me on Quiz with no Spell-Check.
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A 34 year old Woman has favorites of My favorite books are What's So Amazing About Grace? by Philip Yancey and 9 Things You Simply Must Do To Succeed in Love and Life by Henry Cloud. My favorite movies are Tombstone and Shawshank Redemption.
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A 23 year old Woman has favorites of American History X Detroit Rock City Go Ask Alice
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A 27 year old Woman has favorites of Movies - Top Gun, Goodfellas, Bed of Roses, National Lampoon's Christmas Vacation Books - Any Stephen King or Dean Koontz
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A 23 year old Woman has favorites of Music and Silence - Rose Tremain The Chosen - Chaim Potok The Promise - Chaim Potok Good Omens - Terry Pratchett Canone Inverso - Paolo Maurensic One Hundred Years of Solitude - Gabriel Garcia Marquez Persuasion - Jane Austen Jane Eyre - Charlotte Bronte Insomnia - Stephen King Good Will Hunting Abandon Harry Potter (Books and Movies) Three To Tango Austin Powers The Big Lebowski Care Bears Adventure In Wonderland Looking For Alibrandi Requiem For A Dream BBC's Pride And Prejudice Sense And Sensibility American Beauty The Emperor's New Groove Harold And Kumar Go To White Castle Nicholas Nickelby The Count of Monte Cristo Amelie Seven Rules of Attraction Return To Oz Regarding Henry Snatch
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A 23 year old Woman has favorites of Love Actually
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A 31 year old Woman has favorites of Favorite Book: The Five People You Meet in Heaven, Movies: The Power of One and The Notebook
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A 24 year old Woman has favorites of Donnie Darko, The Vampire Armand, Harry Potter, Battle Royale, Pirates of the Caribbean, The Last Herald Mage trilogy
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A 24 year old Man has favorites of Well I like to read books, but I dont have a particular favorite. The same goes with movies I would have to say, I like so many and have such a diverse taste in movies, it would be hard to pinpoint any.
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A 30 year old Woman has favorites of Movies the matrix, and books I love pablo cohelo, isabel allende and lately dan brawn
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A 26 year old Woman has favorites of Pride and prejudice, the davinci code, the count of monte cristo, jane eyre pirates of the caribbean, the notebook, tigerland, star wars, the lord of the rings
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A 26 year old Man has favorites of Books: isaac asimov, foundation trilogy clockwork orange, by kubrik movies: sid and nancy, matrix trilogy, mouling rouge, the night before christmas, kill bill, pulpfiction, transpotting, fight club, ghost in the shell, and too much more to remember right now..
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A 52 year old Woman has favorites of Love Stories, Comedy, Drama, Action
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A 37 year old Man has favorites of Books: practically any by Dostoevsky, English and Irish (realistic) post-modern of the 50s, 60s and 70s. Films: Bladerunner, Mes nuits sont plus belle que tes jours
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A 29 year old Woman has favorites of Books: Lord of the Rings, The Gift by Daniel Steel. Movies: Better then chocolate
--------------------------------------------------------------------------------
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Saturday, July 25, 2009
Thursday, July 9, 2009
Mexico
Introduction
Three times the size of the state of Texas, Mexico has a population of almost 88 million. The ethnic composition of the country is 60 percent mestizo (a mixture of Indian and European), 30 percent Amerindian, 9 percent white, and 1 percent other. Mexico is a federal republic. Spanish is the official language of Mexico, although over 100 Indian languages are also spoken. English is widely understood by educated people and in urban centers. There is no official religion, but almost 90 percent of Mexicans are Roman Catholic. Protestants account for around 5 percent.
Mexico is one of the United States’ most important trade partners. It is the third largest exporter to the United States, and its international trade products include oil exports, tourism, and the products of its many assembly plants (called maquiladoras). Most of the labor force is employed in the agricultural sector.
Fun Fact
One must know a person before doing business with him or her, and the only way to know a person in Mexico is to know the family. Personal relationships are the key to business success. In order to make this connection intermediaries are used. It is critical, especially for a high ranking meeting, to use a person who is known to the Mexican businessman or woman you are meeting. This is your "business family" connection, the person who will introduce you. This person is the bridge that builds the trust necessary to do business in Mexico.
Mexicans are warm and gracious. They embrace the manana attitude, and do not embrace the time-is-money mentality of many other cultures. The old Mexican saying is that "North Americans live to work, but Mexicans work to live!" Respect their sense of time and traditions. If your natural tendency is to speak quickly or you have a forceful or sharp tone of voice, become aware of how you are coming across. Become sensitive to the pace and tone used in Mexico. Otherwise you will destroy a relationship with your caustic tone and behavior. Also, it goes without saying that jokes about "Montezuma’s revenge" are inappropriate.
--------------------------------------------------------------------------------
Geert Hofstede Analysis for
Mexico
Mexico is similar to many Latin countries when Hofstede's Dimensions are compared and analyzed (see Latin America Hofstede graph below).
Mexico's highest Hofstede Dimension is Uncertainty Avoidance (UAI) (82), indicating the society’s low level of tolerance for uncertainty. In an effort to minimize or reduce this level of uncertainty, strict rules, laws, policies, and regulations are adopted and implemented. The ultimate goal of this population is to control everything in order to eliminate or avoid the unexpected. As a result of this high Uncertainty Avoidance characteristic, the society does not readily accept change and is very risk adverse.
Mexico has a low Individualism (IDV) ranking (30), but is slightly higher than other Latin countries with an average 21. The score on this Dimension indicates the society is Collectivist as compared to Individualist. This is manifest in a close long-term commitment to the member 'group', be that a family, extended family, or extended relationships. Loyalty in a collectivist culture is paramount, and over-rides most other societal rules and regulations. The society fosters strong relationships where everyone takes responsibility for fellow members of their group
Mexico has the second highest Masculinity (MAS) ranking in Latin America (69). This indicates the country experiences a higher degree of gender differentiation of roles. The male dominates a significant portion of the society and power structure. This situation generates a female population that becomes more assertive and competitive, although not at the level of the male population.
Another Dimension in which Mexico ranks higher than other Latin neighbors is Power Distance (PDI) with a rank of 81, compared to an average of 70. This is indicative of a high level of inequality of power and wealth within the society. This condition is not necessarily subverted upon the population, but rather accepted by the culture as a whole.
In many of the Latin American countries, including Mexico, the population is predominantly Catholic (see Religions Graph below). The combination of Catholicism and the cultural dimensions, shown in the Hofstede Graphs above, reinforce a philosophy predicated in the belief that there is an absolute ‘Truth”. As Geert Hofstede explains about peoples with a high Uncertainty Avoidance Index, their attitude is, “There can only be one Truth and we have it.”
In a country that has over 50% of its population practicing the Catholic religion, we found the primary correlating Hofstede Dimension to be Uncertainty Avoidance (UAI). There were only 2 countries out of 23 that did not follow this correlation, they were Ireland and the Philippines. (See accompanying Article)
Based on our studies and data, the large majority of predominantly Catholic countries (those with Uncertainty Avoidance as their highest ranking Dimension) have a low tolerance for ambiguity. This creates a highly rule-oriented society that institutes laws, rules, regulations, and controls in order to reduce the amount of uncertainty within the population.
Click Here for Geert Hofstede country scores
To review, the Geert Hofstede analysis for Mexico has high Uncertainty Avoidance ranking that represents a societal concern for the lack of stability and security. The culture also ranks high on the Power Distance and Masculinity dimensions indicating a male dominated authoritarian structure. The culture is collectivist with close ties between extended families and communities. This is particularly true in the more rural areas. More Details
Written by Stephen Taylor - the Sigma Two Group
Religion in Mexico
* WORLD FACTBOOK 2002
In a country that has over 50% of its population practicing the Catholic religion, we found the primary correlating Hofstede Dimension to be Uncertainty Avoidance (UAI). There were only 2 countries out of 23 that did not follow this correlation, they were Ireland and the Philippines. (See accompanying Article)
Appearance
Men should wear a conservative dark suit and tie. Your wardrobe should include suits that have classic lines and tailoring in gray or navy, and white or light blue shirts. A white shirt is more formal and should be worn when the formality of the meeting dictates.
Women should wear a dress or skirt and blouse. A classic suit may also be worn. Build a wardrobe using classic lines, classic skirt lengths, and basic classic colors - gray, navy, white, and ivory.
Men may wear pants and a light shirt for casual. Plan a casual wardrobe using the classic colors, plus camel, and you will be casual, yet polished. Should you have the opportunity to wear a guayabera, the wonderful traditional lightweight shirt, you wear is out over your pants. This design is very comfortable in warmer weather.
Women may wear a blouse with pants or a skirt for casual. To present yourself as professional and polished, even in an informal setting, build your casual wardrobe using classic shades of gray, blue, camel, white and ivory.
Jeans are generally not appropriate, and tight or low cut clothing is never appropriate.
Standing with your hands on your hips suggests aggressiveness, and keeping your hands in your pockets is impolite.
Mexicans may not make eye contact. This is a sign of respect and should not be taken as an affront.
Behavior
Men shake hands upon meeting and leaving, and will wait for a woman to be the first to offer her hand.
Women may shake hands with men and other women. Many times a woman may pat another woman's shoulder or forearm, or kiss on the cheek.
Longtime friends may embrace, and after several meetings you may also be greeted with an embrace.
Punctuality is not rigid because of the emphasis on personal obligations. The best time for appointments is between 10:00 a.m. and 1:00 p.m., with late afternoon a second choice.
Business lunches, rather than dinners are the traditional form of business entertaining and are usually prolonged affairs, beginning between 2:00 and 3:00 p.m. and lasting three to four hours, with little time being devoted to actual business. Lunches are an essential part of business to establish a personal relationship.
Working breakfasts are also popular, meeting at 8:00 or 8:30 at your hotel, and usually lasting two hours at the most.
Conversations take place at a close physical distance. Stepping back may be regarded as unfriendly.
Mexican men are warm and friendly, and make a lot of physical contact. They often touch shoulders or hold another’s arm. To withdraw from this touch is considered insulting.
Giving gifts to business executives is not required. Small items with a company logo (for an initial visit) are appreciated.
Secretaries do appreciate gifts. If giving a valuable gift, such as perfume or a scarf, present it on a return visit. A man giving it to a female secretary should indicate the gift is from his wife.
Gifts are not required for a dinner guest, but will be appreciated. Good choices are candy, flowers (sent ahead of time), or local crafts from home.
When giving flowers: yellow – represent death, red – cast spells, and white – lift spells.
Do not give gifts made of silver, as it is associated with trinkets sold to tourists.
Women should not invite a male counterpart for a business dinner unless other associates or spouses attend. Also, Mexican men will graciously attempt to pay for a meal, even though you are hosting it. A professional way to host a meal is to dine or lunch at your hotel. Pre-arrange to have the meal added to your hotel bill.
Tipping is appropriate for services provided. Wages are often so low that workers depend heavily on gratuities for their income.
Pay for store purchases by placing money in the cashier’s hand, rather than on the counter.
Communications
Refrain from using first names until invited to do so.
Titles are important and should be included on business cards. You may directly speak to someone by only using his or her title only, without including the last name.
Doctor is a physician or Ph.D. Profesor it the title for a teacher. Ingeniero is an engineer. Arquitecto is an architect. Abogado is a lawyer.
People without professional titles are addressed using Mr., Mrs., or Miss and his or her surname. Senor is Mr., Senora is Mrs., and Senorita is Miss
Hispanics generally use two surnames. The first surname listed is from the father, and the second surname listed is from the mother. When speaking to someone use his or her father’s surname.
A married woman will add her husband's father's name to the end of her name, usually shown as de (name) when written. This woman would be formally addressed as Senora de (name).
In speaking to this same married woman less formally, you would simply say Senora (name).
Do not use red ink anytime you are writing someone's name.
The traditional toast in Mexico is Salud (Sal-UUD).
Mexican’s use a "psst-psst" sound to catch another’s attention in public. This is not considered rude.
Mexicans refer to people from the United States as North Americans.
Good conversational topics are Mexican culture, history, art, and museums.
Never discuss the Mexican-American war, poverty, illegal aliens, or earthquakes.
Mexican Resources
International Business Center Newsletter free subscription
Site Resource Page
International Career Center - Information on international careers and jobs
Fact Book on Mexico
Mexican Cultural Resource Page
Global Etiquette Guide: Mexico
Education information for Mexico
Business Briefing Paper on Mexico
Tips on Handling Language Difficulties
Newspapers for Mexico
Local Weather in key Mexican Cities
OneWorld Country Guide to Mexico in Spanish
Countries
Africa Argentina Australia Brazil Canada Chile China Colombia Costa Rica Ecuador Egypt El Salvador France Germany Great Britain Guatemala Hong Kong India Indonesia Italy Japan Mexico New Zealand Panama Russia Saudi Arabia Spain Taiwan United Arab Emirates United States Venezuela
HOME PAGE
Regions
Asia Europe Latin America Middle East North America South Pacific
Resources
Geert Hofstede Free Monthly Newsletter Resource
Introduction
Three times the size of the state of Texas, Mexico has a population of almost 88 million. The ethnic composition of the country is 60 percent mestizo (a mixture of Indian and European), 30 percent Amerindian, 9 percent white, and 1 percent other. Mexico is a federal republic. Spanish is the official language of Mexico, although over 100 Indian languages are also spoken. English is widely understood by educated people and in urban centers. There is no official religion, but almost 90 percent of Mexicans are Roman Catholic. Protestants account for around 5 percent.
Mexico is one of the United States’ most important trade partners. It is the third largest exporter to the United States, and its international trade products include oil exports, tourism, and the products of its many assembly plants (called maquiladoras). Most of the labor force is employed in the agricultural sector.
Fun Fact
One must know a person before doing business with him or her, and the only way to know a person in Mexico is to know the family. Personal relationships are the key to business success. In order to make this connection intermediaries are used. It is critical, especially for a high ranking meeting, to use a person who is known to the Mexican businessman or woman you are meeting. This is your "business family" connection, the person who will introduce you. This person is the bridge that builds the trust necessary to do business in Mexico.
Mexicans are warm and gracious. They embrace the manana attitude, and do not embrace the time-is-money mentality of many other cultures. The old Mexican saying is that "North Americans live to work, but Mexicans work to live!" Respect their sense of time and traditions. If your natural tendency is to speak quickly or you have a forceful or sharp tone of voice, become aware of how you are coming across. Become sensitive to the pace and tone used in Mexico. Otherwise you will destroy a relationship with your caustic tone and behavior. Also, it goes without saying that jokes about "Montezuma’s revenge" are inappropriate.
--------------------------------------------------------------------------------
Geert Hofstede Analysis for
Mexico
Mexico is similar to many Latin countries when Hofstede's Dimensions are compared and analyzed (see Latin America Hofstede graph below).
Mexico's highest Hofstede Dimension is Uncertainty Avoidance (UAI) (82), indicating the society’s low level of tolerance for uncertainty. In an effort to minimize or reduce this level of uncertainty, strict rules, laws, policies, and regulations are adopted and implemented. The ultimate goal of this population is to control everything in order to eliminate or avoid the unexpected. As a result of this high Uncertainty Avoidance characteristic, the society does not readily accept change and is very risk adverse.
Mexico has a low Individualism (IDV) ranking (30), but is slightly higher than other Latin countries with an average 21. The score on this Dimension indicates the society is Collectivist as compared to Individualist. This is manifest in a close long-term commitment to the member 'group', be that a family, extended family, or extended relationships. Loyalty in a collectivist culture is paramount, and over-rides most other societal rules and regulations. The society fosters strong relationships where everyone takes responsibility for fellow members of their group
Mexico has the second highest Masculinity (MAS) ranking in Latin America (69). This indicates the country experiences a higher degree of gender differentiation of roles. The male dominates a significant portion of the society and power structure. This situation generates a female population that becomes more assertive and competitive, although not at the level of the male population.
Another Dimension in which Mexico ranks higher than other Latin neighbors is Power Distance (PDI) with a rank of 81, compared to an average of 70. This is indicative of a high level of inequality of power and wealth within the society. This condition is not necessarily subverted upon the population, but rather accepted by the culture as a whole.
In many of the Latin American countries, including Mexico, the population is predominantly Catholic (see Religions Graph below). The combination of Catholicism and the cultural dimensions, shown in the Hofstede Graphs above, reinforce a philosophy predicated in the belief that there is an absolute ‘Truth”. As Geert Hofstede explains about peoples with a high Uncertainty Avoidance Index, their attitude is, “There can only be one Truth and we have it.”
In a country that has over 50% of its population practicing the Catholic religion, we found the primary correlating Hofstede Dimension to be Uncertainty Avoidance (UAI). There were only 2 countries out of 23 that did not follow this correlation, they were Ireland and the Philippines. (See accompanying Article)
Based on our studies and data, the large majority of predominantly Catholic countries (those with Uncertainty Avoidance as their highest ranking Dimension) have a low tolerance for ambiguity. This creates a highly rule-oriented society that institutes laws, rules, regulations, and controls in order to reduce the amount of uncertainty within the population.
Click Here for Geert Hofstede country scores
To review, the Geert Hofstede analysis for Mexico has high Uncertainty Avoidance ranking that represents a societal concern for the lack of stability and security. The culture also ranks high on the Power Distance and Masculinity dimensions indicating a male dominated authoritarian structure. The culture is collectivist with close ties between extended families and communities. This is particularly true in the more rural areas. More Details
Written by Stephen Taylor - the Sigma Two Group
Religion in Mexico
* WORLD FACTBOOK 2002
In a country that has over 50% of its population practicing the Catholic religion, we found the primary correlating Hofstede Dimension to be Uncertainty Avoidance (UAI). There were only 2 countries out of 23 that did not follow this correlation, they were Ireland and the Philippines. (See accompanying Article)
Appearance
Men should wear a conservative dark suit and tie. Your wardrobe should include suits that have classic lines and tailoring in gray or navy, and white or light blue shirts. A white shirt is more formal and should be worn when the formality of the meeting dictates.
Women should wear a dress or skirt and blouse. A classic suit may also be worn. Build a wardrobe using classic lines, classic skirt lengths, and basic classic colors - gray, navy, white, and ivory.
Men may wear pants and a light shirt for casual. Plan a casual wardrobe using the classic colors, plus camel, and you will be casual, yet polished. Should you have the opportunity to wear a guayabera, the wonderful traditional lightweight shirt, you wear is out over your pants. This design is very comfortable in warmer weather.
Women may wear a blouse with pants or a skirt for casual. To present yourself as professional and polished, even in an informal setting, build your casual wardrobe using classic shades of gray, blue, camel, white and ivory.
Jeans are generally not appropriate, and tight or low cut clothing is never appropriate.
Standing with your hands on your hips suggests aggressiveness, and keeping your hands in your pockets is impolite.
Mexicans may not make eye contact. This is a sign of respect and should not be taken as an affront.
Behavior
Men shake hands upon meeting and leaving, and will wait for a woman to be the first to offer her hand.
Women may shake hands with men and other women. Many times a woman may pat another woman's shoulder or forearm, or kiss on the cheek.
Longtime friends may embrace, and after several meetings you may also be greeted with an embrace.
Punctuality is not rigid because of the emphasis on personal obligations. The best time for appointments is between 10:00 a.m. and 1:00 p.m., with late afternoon a second choice.
Business lunches, rather than dinners are the traditional form of business entertaining and are usually prolonged affairs, beginning between 2:00 and 3:00 p.m. and lasting three to four hours, with little time being devoted to actual business. Lunches are an essential part of business to establish a personal relationship.
Working breakfasts are also popular, meeting at 8:00 or 8:30 at your hotel, and usually lasting two hours at the most.
Conversations take place at a close physical distance. Stepping back may be regarded as unfriendly.
Mexican men are warm and friendly, and make a lot of physical contact. They often touch shoulders or hold another’s arm. To withdraw from this touch is considered insulting.
Giving gifts to business executives is not required. Small items with a company logo (for an initial visit) are appreciated.
Secretaries do appreciate gifts. If giving a valuable gift, such as perfume or a scarf, present it on a return visit. A man giving it to a female secretary should indicate the gift is from his wife.
Gifts are not required for a dinner guest, but will be appreciated. Good choices are candy, flowers (sent ahead of time), or local crafts from home.
When giving flowers: yellow – represent death, red – cast spells, and white – lift spells.
Do not give gifts made of silver, as it is associated with trinkets sold to tourists.
Women should not invite a male counterpart for a business dinner unless other associates or spouses attend. Also, Mexican men will graciously attempt to pay for a meal, even though you are hosting it. A professional way to host a meal is to dine or lunch at your hotel. Pre-arrange to have the meal added to your hotel bill.
Tipping is appropriate for services provided. Wages are often so low that workers depend heavily on gratuities for their income.
Pay for store purchases by placing money in the cashier’s hand, rather than on the counter.
Communications
Refrain from using first names until invited to do so.
Titles are important and should be included on business cards. You may directly speak to someone by only using his or her title only, without including the last name.
Doctor is a physician or Ph.D. Profesor it the title for a teacher. Ingeniero is an engineer. Arquitecto is an architect. Abogado is a lawyer.
People without professional titles are addressed using Mr., Mrs., or Miss and his or her surname. Senor is Mr., Senora is Mrs., and Senorita is Miss
Hispanics generally use two surnames. The first surname listed is from the father, and the second surname listed is from the mother. When speaking to someone use his or her father’s surname.
A married woman will add her husband's father's name to the end of her name, usually shown as de (name) when written. This woman would be formally addressed as Senora de (name).
In speaking to this same married woman less formally, you would simply say Senora (name).
Do not use red ink anytime you are writing someone's name.
The traditional toast in Mexico is Salud (Sal-UUD).
Mexican’s use a "psst-psst" sound to catch another’s attention in public. This is not considered rude.
Mexicans refer to people from the United States as North Americans.
Good conversational topics are Mexican culture, history, art, and museums.
Never discuss the Mexican-American war, poverty, illegal aliens, or earthquakes.
Mexican Resources
International Business Center Newsletter free subscription
Site Resource Page
International Career Center - Information on international careers and jobs
Fact Book on Mexico
Mexican Cultural Resource Page
Global Etiquette Guide: Mexico
Education information for Mexico
Business Briefing Paper on Mexico
Tips on Handling Language Difficulties
Newspapers for Mexico
Local Weather in key Mexican Cities
OneWorld Country Guide to Mexico in Spanish
Countries
Africa Argentina Australia Brazil Canada Chile China Colombia Costa Rica Ecuador Egypt El Salvador France Germany Great Britain Guatemala Hong Kong India Indonesia Italy Japan Mexico New Zealand Panama Russia Saudi Arabia Spain Taiwan United Arab Emirates United States Venezuela
HOME PAGE
Regions
Asia Europe Latin America Middle East North America South Pacific
Resources
Geert Hofstede Free Monthly Newsletter Resource
The American Association of Exporters and Importers
The Federation of International Trade Associations
International Chamber of Commerce
The International Federation of Customs Brokers Associations
International Organization for Standardization
International Small Business Consortium
World Trade Centers Association
Books
Entrepreneur's business startup guide Creating a Successful Business Plan
Entrepreneur's business startup guide Financing Your Small Business
Entrepreneur's business startup guide Successful Sales and Marketing
Importing Into the U.S.
Helpful Government Agencies
Bureau of Industry and Security
Business Information Service for the Newly Independent States (BISNIS)
Commercial Service, Canada
Commercial Service, Mexico
Country Commercial Guides
The Export Legal Assistance Network
Foreign Agricultural Service
International Trade Administration
Overseas Private Investment Corporation (OPIC)
Showcase Europe
Ex-Im Bank, Small-Business Programs
U.S. Census Bureau, Foreign Trade Division
U.S. Customs and Border Protection
U.S. Department of Commerce
U.S. Commercial Service (The Commercial Service)
The Journal of Commerce
Tradeshow Week
http://www.entrepreneur.com/startingabusiness/businessideas/startupkits/article41846-7.html#ixzz0KlRfp8TR&D
The Federation of International Trade Associations
International Chamber of Commerce
The International Federation of Customs Brokers Associations
International Organization for Standardization
International Small Business Consortium
World Trade Centers Association
Books
Entrepreneur's business startup guide Creating a Successful Business Plan
Entrepreneur's business startup guide Financing Your Small Business
Entrepreneur's business startup guide Successful Sales and Marketing
Importing Into the U.S.
Helpful Government Agencies
Bureau of Industry and Security
Business Information Service for the Newly Independent States (BISNIS)
Commercial Service, Canada
Commercial Service, Mexico
Country Commercial Guides
The Export Legal Assistance Network
Foreign Agricultural Service
International Trade Administration
Overseas Private Investment Corporation (OPIC)
Showcase Europe
Ex-Im Bank, Small-Business Programs
U.S. Census Bureau, Foreign Trade Division
U.S. Customs and Border Protection
U.S. Department of Commerce
U.S. Commercial Service (The Commercial Service)
The Journal of Commerce
Tradeshow Week
http://www.entrepreneur.com/startingabusiness/businessideas/startupkits/article41846-7.html#ixzz0KlRfp8TR&D
Home > Starting a Business > Business Ideas > How to Start an Import/Export Business
How to Start an Import/Export Business
From importing exotic fashions to exporting light fixtures, the international trade business will take you all over the world and into all product niches.
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Article ContentsIntroduction
Target Market
Startup Costs
Income & Billing
Operations
Marketing
Resources
Editor’s note: This article was excerpted from our Import/Export Business start-up guide, available from SmallBizBooks.com.
International trade is one of the hot industries of the new millennium. But it's not new. Think Marco Polo. Think the great caravans of the biblical age with their cargoes of silks and spices. Think even further back to prehistoric man trading shells and salt with distant tribes. Trade exists because one group or country has a supply of some commodity or merchandise that is in demand by another. And as the world becomes more and more technologically advanced, as we shift in subtle and not so subtle ways toward one-world modes of thought, international trade becomes more and more rewarding, both in terms of profit and personal satisfaction.
Importing is not just for those lone footloose adventurer types who survive by their wits and the skin of their teeth. It's big business these days--to the tune of an annual $1.2 trillion in goods, according to the U.S. Department of Commerce. Exporting is just as big. In one year alone, American companies exported $772 billion in merchandise to more than 150 foreign countries. Everything from beverages to commodes--and a staggering list of other products you might never imagine as global merchandise--are fair game for the savvy trader. And these products are bought, sold, represented and distributed somewhere in the world on a daily basis.
Content Continues Below
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But the import/export field is not the sole purview of the conglomerate corporate trader, according to the U.S. Department of Commerce, the big guys make up only about 4 percent of all exporters. Which means that the other 96 percent of exporters--the lion's share are small outfits like yours wil be--when you're new, at least.
Champagne and Caviar
Why are imports such big business in the United States and around the world? There are lots of reasons, but the three main ones boil down to:
Availability: There are some things you just can't grow or make in your home country. Bananas in Alaska, for example, mahogany lumber in Maine, or Ball Park franks in France.
Cachet: A lot of things, like caviar and champagne, pack more cachet, more of an "image," if they're imported rather than home-grown. Think Scandinavian furniture, German beer, French perfume, Egyptian cotton. Even when you can make it at home, it all seems classier when it comes from distant shores.
Price: Some products are cheaper when brought in from out of the country. Korean toys, Taiwanese electronics and Mexican clothing, to rattle off a few, can often be manufactured or assembled in foreign factories for far less money than if they were made on the domestic front.
Aside from cachet items, countries typically export goods and services that they can produce inexpensively and import those that are produced more efficiently somewhere else. What makes one product less expensive for a nation to manufacture than another? Two factors: resources and technology. A country with extensive oil resources and the technology of a refinery, for example, will export oil but may need to import clothing.
Types of Import/Export Businesses
First off, let's take a look at the players. While you've got your importers and your exporters, there are many variations on the main theme:
Export management company (EMC): An EMC handles export operations for a domestic company that wants to sell its product overseas but doesn't know how (and perhaps doesn't want to know how). The EMC does it all--hiring dealers, distributors and representatives; handling advertising, marketing and promotions; overseeing marking and packaging; arranging shipping; and sometimes arranging financing. In some cases, the EMC even takes title to the goods, in essence becoming its own distributor. EMCs usually specialize by product, foreign market or both, and--unless they've taken title--are paid by commission, salary or retainer plus commission.
Export trading company (ETC): While an EMC has merchandise to sell and is using its energies to seek out buyers, an ETC attacks the other side of the trading coin. It identifies what foreign buyers want to spend their money on and then hunts down domestic sources willing to export. An ETC sometimes takes title to the goods and sometimes works on a commission basis.
Import/export merchant: This international entrepreneur is a sort of free agent. He has no specific client base, and he doesn't specialize in any one industry or line of products. Instead, he purchases goods directly from a domestic or foreign manufacturer and then packs, ships and resells the goods on his own. This means, of course, that unlike the EMC, he assumes all the risks (as well as all the profits).
Swimming the Trade Channel
Now that you're familiar with the players, you'll need to take a swim in the trade channel, the means by which the merchandise travels from manufacturer to end user. A manufacturer who uses a middleman who resells to the consumer is paddling around in a three-level channel of distribution. The middleman can be a merchant who purchases the goods and then resells them, or he can be an agent who acts as a broker but doesn't take title to the stuff.
Who your fellow swimmers are will depend on how you configure your trade channel, but they could include any of the following:
Manufacturer's representative: a salesperson who specializes in a type of product or line of complementary products; for example, home electronics: televisions, radios, CD players and sound systems. He often provides additional product assistance, such as warehousing and technical service.
Distributor or wholesale distributor: a company that buys the product you've imported and sells it to a retailer or other agent for further distribution until it gets to the end user
Representative: a savvy salesperson who pitches your product to wholesale or retail buyers, then passes the sale on to you; differs from a manufacturer's representative in that he doesn't necessarily specialize in a particular product or group of products
Retailer: the tail end of the trade channel where the merchandise smacks into the consumer; as yet another variation on a theme, if the end user is not Joan Q. Public but an original equipment manufacturer (OEM), then you don't need to worry about the retailer because the OEM becomes your end of the line. (Think Dell Computer purchasing a software program to pass along to its personal computer buyer as part of the goodie package.)
The Right Stuff
Not everybody is cut out to be an international trader. This is not, for example, a career for the sales-phobic. If you're one of those people who would rather work on a chain gang than sell Girl Scout cookies, or if you blanch at the thought of making a sales pitch, then you don't want to be in import/export. This is also not a career for the organizationally challenged. If you're one of those let-the-devil-handle-the-details types whose idea of follow-up is waiting to see what happens next, you should think twice about international trading.
If, on the other hand, you're an enthusiastic salesperson, a dynamo at tracking things like invoices and shipping receipts, and your idea of heaven is seeing where new ideas and new products will take you, and if, to top it off, you love the excitement of dealing with people from different cultures, then this is the career for you.
It also helps if you already have a background in import/export. Most of the traders we talked with were well-versed in the industry before launching their own businesses. Peter P., who founded a Russian trading company, segued directly from his college major in international business to an operations position with an international frozen-meat trading company in Atlanta, which landed him in the right place at the right time.
"I speak both Russian and Ukrainian fluently," Peter says. "I'm of Ukrainian descent. I took Russian as a minor in college, initially as an easy grade. Little did I know when I graduated back in '89 that Russia would open up to the West shortly thereafter."
The Trade Hit Parade
According to the U.S. Census Bureau, the top 10 countries with which America trades (in order of largest import and export dollars to smallest) are:
Canada
Mexico
Japan
China
Germany
United Kingdom
France
Republic of Korea (South Korea)
Taiwan
Singapore
You needn't, of course, confine yourself to trade deals with importers and exporters in these countries--there are scads of other intriguing possibilities available, including the member countries of the Caribbean Basin and Andean pacts and the new kids on the Eastern Bloc, the former Soviet Union countries. But as a newbie on the international scene, you should familiarize yourself with our biggest trading partners and see what they have to offer. Then take your best shot, with them or with another country
http://www.entrepreneur.com/startingabusiness/businessideas/startupkits/article41846.html#ixzz0KlQO97Ja&DEvery business needs consumers for its products and services to, as the Vulcans so eloquently put it, live long and prosper. Now that you know what running an import/export business entails, you need to plan, or target, your market, and determine who your potential clients will be, which geographic areas you'll draw from, and what specific products or services you'll offer to draw them in.
This is a very important phase in the mega-trader building project. The proper market research can help boost your trading company into a true profit center, and the more research you do, the better prepared you are before you officially open your doors, the less floundering you're likely to do.
Who Are Your Customers?
Any manufacturer, supplier, crafter, artisan, importer, exporter or retailer is fair game. You can go after companies that deal in heavy construction equipment or delicate jewelry, gourmet goodies or pet food, telecommunications or toys. The only essential requirement is that they want to sell their merchandise or buy someone else's.
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This doesn't mean, however, that your best technique is standing at manufacturers' gates, tripping them as they walk to their cars after work each evening. Targeting by definition means homing in on a specific group.
If you have previous experience in a particular field, for example, you should seriously consider targeting that market first. You'll feel comfortable with the jargon and procedures so your sales pitch--and your initial sales--will go smoother and easier. As an added bonus, you may already have contacts in the field who can either become your first clients or steer you to colleagues in that area.
Dan S. targeted the field of technology--specifically, software solutions for commercial use and computer cables--simply because he's worked in that area for more than 10 years. He knows the field and feels comfortable in it.
Wahib W., too, began in a field he knew well, runway and navigational lights, then went on to other international construction projects, importing railroad and telephone pole materials and construction services, as well as other heavy-equipment materials.
What's My Niche?
OK. You've narrowed the list of products you'll target. Now you'll want to find your niche, the unique angle that will set your business apart from--and above--the competition. This is where you can really let your creativity shine through.
You may decide to start as an export management company (EMC, remember?), seeking out buyers for domestic manufacturing firms, or as an export trading company (ETC), finding domestic sources willing to export. Or you might want to stick with the original Trader Sam formula, importing and exporting on your own as an import/export merchant.
In Florida, Lloyd D. has positioned his company as both an EMC and ETC, depending on his clients' needs. "[As an EMC, we] work directly for a manufacturer, or his exclusive distributor/manager for international sales, as a marketing and screening provider," Lloyd explains, "and will search for and locate overseas buyers-for-resale and/or qualified distributors/sales representatives. [Our] objective is to function as an extension of [our] principal's in-house export sales efforts."
Under its ETC hat, Lloyd says, "[my company] performs in a fashion similar to that previously described, except for a diminished principal relationship, and business is typically conducted on a case-by-case or ad-hoc basis. It is more a sourcing function for the buyer and the seller."
In Germany, Michael R. describes his company's role this way: "[We are] a worldwide consultancy to SMEs (small and medium-sized enterprises) that wish to increase their sales and profits by using the available world markets more successfully."
Market Research
Here's a rapid-fire overview of your market research tasks. You'll want to do some in-depth investigation into each of these areas:
The product or service you'll sell
The end user you'll aim for (mass-market consumer, heavy industry, light industry, medical or hospital use, government, business or professional)
The country or countries you'll export to or import from
The trade channel you'll use (direct sales, representative, distributor or commission representative)
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One of the catch-22s of being in business for yourself is that you need money to make money--in other words, you need startup funds. These costs range from less than $5,000 to more than $25,000 for the import/export business. You can start out homebased, which means you won't need to worry about leasing office space. You don't need to purchase a lot of inventory, and you probably won't need employees.
Your basic necessities will be a computer, printer, fax machine and modem. If you already have these items, then you're off and running. Several of the traders we talked with started from ground zero. "We started from nothing," says Wahib W., but once they got a large project, that was all it took."
Peter P.'s company started from a similar financial position. "We had very little money in the bank," he says. What they did have was a carefully built relationship with suppliers, and this valuable asset the company was able to get up and running.
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One of the many nifty things about an import/export business is that its startup costs are comparatively low. You have the advantage of homebased-ability, which cuts office lease expenses down to nothing. Unless you're starting as a distributor, you can get away with purchasing no inventory, which means no outlay of funds for pretty doodads to grace display spaces (you have no display spaces!). Your major financial outlay will go toward office equipment and market research expenses--and if you're like many moderns, you already have the most expensive piece of office equipment: a computer system.
But let's take it from the top. The following is a breakdown of everything--from heavy investment pieces to flyweight items--you'll need to get up and running:
Computer system with modem and printer
Fax machine
Internet/e-mail service
Software
Market research and/or trade leads
Phone
Voice mail or answering machine
Stationery and office supplies
Postage
Travel expenses for conducting market research on foreign turf
You can add all kinds of goodies of varying degrees of necessity to this list. For example, a copier is a plus. It's also nice to have bona fide office furniture: a tweedy upholstered chair with lumbar support that swivels and rolls, gleaming file cabinets that really lock, real oak bookshelves.
But let's consider that you're starting from scratch. You can always set up your computer on your kitchen table or on a card table in a corner of the bedroom. You can stash files in cardboard boxes. It's not glamorous, but it'll suffice until you get your business steaming ahead
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Home > Starting a Business > Business Ideas > How to Start an Import/Export Business
How to Start an Import/Export Business
Income & Billing
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Article ContentsIntroduction
Target Market
Startup Costs
Income & Billing
Operations
Marketing
Resources
What can you expect to make as an international trader? The amount's entirely up to you, depending only on how serious you are and how willing you are to expand. Annual gross revenues for the industry range from $30,000 to $200,000 and beyond, with an average of about $75,000. Some traders work from home, supplementing 9-to-5 incomes with their trading expertise. Others have launched thriving full-time businesses that demand constant care and feeding. Wahib W.'s export company has a staff of five that oversees multimillion-dollar contracts.
"There are tons and tons of opportunities for [export] trade," says Wahib W. "U.S. manufacturers are at least 10 years behind the clock in exporting." So the potential for growth is entirely up to you--as long as you're willing to put in the time.
Pricing Yourself
As an international trader, you're an intermediary in the buying and selling, or importing and exporting, transaction. Therefore, you have to determine not just the price of the product, but the price of your services as well. These two figures are separate yet interactive. Because you're a swimmer in the trade channel, the price of your services has to be added on to the product price, and that can affect its competitiveness in the marketplace.
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Since the fee for your services will impact the success of the product, you may ultimately decide to change your pricing structure. You don't want to undercharge your client so that you can't cover your expenses and make a profit, but you don't want to overcharge and reduce the competitiveness of your company and the merchandise you represent.
Import/export management companies use two basic methods to price their services: commission and retainer. Normally, you choose one method or the other based on how salable you feel the product is. If you think it's an easy sell, you'll want to work on the commission method. If you feel it's going to be an upstream swim, difficult to sell and require a lot of market research, you'll ask for a retainer.
A third method is to purchase the product outright and sell it abroad. This is a common scenario when you're dealing with manufacturers who would rather use you as a distributor than as a representative. You'll still market the product under the manufacturer's name, but your income will come from the profit generated by sales rather than by commission.
The Commish
Import/export management companies usually operate on a commission basis of about 10 percent. These fees are based on the product cost from the manufacturer.
Let's say you're working with English lawn chairs, which cost you $110 each. Here's what you do: First, take the price the manufacturer is charging for the product: $110. Now multiply $110 by 10 percent, which gives you a commission of $11 per chair.
So your product price at this point is $121 per chair ($110 + $11). To come up with the final price, you'll need to add other costs to this figure: any special marking or packaging, shipping, insurance and any representative or distributor commissions that you'll pay to others in the trade channel, which we'll go over a little later. Once you've arrived at a final price, you'll check it against your competitors' prices (you did do your market research, right?). If your product's price is comparatively low, you can bump up your commission percentage.
For now, however, you can see that for every chair you or your trade channelers sell, you'll get $11. If you sell a thousand chairs, that's $11,000 for you!
Biting the Retainer
If the manufacturer can't discount her price sufficiently or if you feel that the product will be a tough sell, you'll want to ask for a flat retainer (the monetary kind, not the dental appliance kind). You'll pass all the costs of market research along to the manufacturer. By taking a retainer, you guarantee yourself a set income rather than one tied by commission to a "problem" product.
To determine what your retainer should be, you'll need to consider three variables associated with the performance of your services:
Labor and materials or supplies: This usually includes your salary or estimated salary on an hourly basis plus the wages and benefits you pay any employees involved in the performance of the job. To determine labor costs, estimate the amount of time it will take to finish a job and multiply it by the hourly rate of your salary and that of any employees you might use. You can compute materials as a percentage of labor, but until you have past records to use as a guide, you should use 2 to 6 percent.
Overhead: This variable comprises all the nonlabor, indirect expenses required to operate your business. To determine your overhead rate, add up all your expenses for one year, except for labor and materials. Divide this figure by your total cost of labor and materials to determine your overhead rate. Or use a rate of 35 percent to 42 percent of your labor and materials.
Profit: And the end result is: After all labor, materials and overhead expenses are deducted, profit can be determined by applying a percentage profit factor to the combined costs of labor and materials and overhead.
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What you will be doing during your peak hours and beyond will depend upon how you've structured your services. Some traders act only as sales representatives, finding buyers and taking commissions, but steer clear of the shipping, documentation and financing aspects of the deal. Others are happier offering a full line of services, buying directly from the manufacturer and taking on all the responsibilities of transactions from shipping to marketing. These traders often specialize in either import or export and stick to the merchandise industry they know best.
No matter how exotic you want to get, your most basic tasks will be obtaining merchandise, selling it, transporting it and getting paid for it.
The Export Path
OK, exporter--you've found a buyer for your merchandise. You're a player. You're ready to roll. So now what do you do? Follow the export path:
Generate the pro forma invoice--give the importer a quote on your merchandise; negotiate if necessary.
Receive the letter of credit from your bank.
Fulfill terms of the letter of credit: Have the merchandise manufactured if necessary; make shipping and insurance arrangements; pack the merchandise; and have the merchandise transported.
Collect shipping documents.
Present shipping documents to your bank.
The Import Path
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OK, importer. You've found the merchandise you want to buy and then resell. You're a player. You're ready to roll. So now what do you do? Follow the import path:
Receive the pro forma invoice, the exporter's quote on the merchandise; negotiate if necessary.
Open a letter of credit at your bank.
Verify that the merchandise has been shipped.
Receive documents from the exporter.
See merchandise through customs.
Collect your merchandise.
A Day in the Life
What does a trader's day really look like? What does he do in between preparing pro forma invoices, requests for letters of credit and shipping documents? Here's a behind-the-scenes peek, courtesy of Michael R., the international trade consultant in Germany:
First hour: Read statistics printed overnight by the computer to see if each representative/agent has fulfilled his plans, and initiate changes if necessary.
Work on the internet for one to two hours to see what inquiries have come in, then answer them personally or forward them to past or present clients who may be interested.
Have short meeting with colleagues to see if assistance is needed, then support them or trouble-shoot.
Look at the day's newspapers to see whether there's any movement within my industry where I should act fast.
Take a coffee break.
Look at the mail and handle or forward items.
After lunch, take time to reflect on what has and what should have happened.
Discuss problems and/or chances for the future with prospects and/or business partners.
Look again at e-mail and the Web for news and new opportunities.
At the end of the day, there should be about an hour to discuss again with colleagues how the day went and/or problems that came up.
One or two evenings a week, attend business events or meetings with partners for discussion.
On the Road
A trader isn't always at home behind his desk. What does he do when he's out on the road? Here's another behind-the-scenes peek, courtesy of Jan H., a Belgian tire trader:
Note that Jan's day, in typical European fashion, evolves through a 24-hour clock, or what we think of as military time.
Day in Belgium:
07.00 - 09.00 Office work, e-mail, fax offers, mail, etc.
09.00 - 12.00 Drive to airport, meet customer from Finland; back to warehouse, customer chooses products
12.00 - 13.00 Lunch with customer, general discussions
13.00 - 18.00 Visit with a customer from Nigeria; long discussion, haggling over prices, payment terms, etc.; supervise loading of containers bound for the United States; phone calls, fax, e-mail; arrival of a customer from France, discussions
18.00 Quick trip home to change and shower
19.00 - ?? Pick up French customer at hotel, have cocktails and dinner, more negotiations
Day on the road in Germany:
05.00 Leave home for 400 km drive
08.00 Arrive at first supplier; discussions and purchase of goods
10.00 Leave for next supplier
11.00 Next supplier; discussions without any result
12.00 Visit customer; make a sale
13.30 Visit another supplier; more discussions
15.00 Leave for another 300-odd km drive
18.00 Arrive at hotel; check e-mail on laptop, phone calls
19.30 Sauna and swim at hotel pool
20.30 Dinner with supplier, then to bed!
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As an international trader, your mission is sales--in two different but overlapping arenas: a) selling yourself and your company to clients as an import/export manager for their products, and b) selling the products themselves to representatives and distributors. Success in one of these arenas will contribute to your success in another. Once you've established a favorable sales record with one client's goods, you'll have a track record with which to entice other clients. And, of course, each success will contribute to your own self-confidence, which will, in turn, lend that air of confidence to your negotiations with new prospects.
Hunting for Exports
A surprisingly small percentage of domestic producers export their wares. So your marketing goal is to convince the huge remainder that they can increase profits by exporting--with your guidance--to specific target countries. You can accomplish this with direct mail and cold calls. If you're starting with imports, don't ignore this section--you'll work in basically the same manner.
Before you initiate contact with any manufacturer, you'll need to do some basic market research:
What products are hot sellers in the domestic marketplace? Focus your attention on products that you know well or use yourself, or that are bestsellers in their market niches.
Are these products hot sellers in your target countries?
If not, are there situations or markets that would put these products in great demand if the products were available?
Who manufactures these products?
What is the selling price of each product--and of competing products or brands--domestically and in your target countries?
Direct-Mail Dazzle
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Now you're ready to begin your direct-mail campaign. Choose one manufacturer of one of the products you've researched. Then call the company and ask for the name of the person to whom you'll want to write. If the company is small, you'll probably want the president or owner. If it's a larger concern, you might want to direct your letter to the vice president in charge of sales, the sales manager or the president or owner.
Armed with a name and title, write your letter, taking care to address the following points.
Introduce yourself and your company.
Briefly outline the potential of the overseas market.
Outline the product's potential within that market.
If possible, explain why and how your company, out of all others, will be able to position the product best. For example, if you have experience with like products, be sure to say so.
If you already have contacts with foreign distributors, explain that you have foreign representatives for overseas sales.
Ask for a personal meeting to further discuss the possibilities.
Once your first letter is in the mail, sit down and write another to a potential client in another product line. And then another, until you've exhausted your first set of preliminary market research products.
Now wait a week or 10 days. If you haven't heard from your first target manufacturer, give him a call. Ask to set up a meeting in his office to discuss your plan. Then call the next manufacturer and the next. If you're not familiar with sales, you may find this portion of the program a white-knuckler. Don't be nervous! You're offering these people a terrific opportunity. Not everyone is going to bite (not everyone can recognize a great deal when it jumps up and grabs them), but not everyone is going to turn you down, either. A no thank you now and then is part of the game.
(Cold)-Calling All Clients
Cold-calling, so-called because you call a potential client "cold" without any warming up by prior contact, is an alternative to the direct-mail approach. The good news is that, if you're calling locally, it's usually cheaper than direct mail. The bad news is that it requires much more perseverance to be effective. The other good news, however, is that, done properly, a cold call can be much more effective than direct mail.
Before you make your first call, be sure you know what you want to say and how you want to say it. Some experts recommend writing out a sort of "script" that you can follow during the course of your call. This is a good starting-off exercise to help plan your spiel, but be aware of the fact that following a script has its drawbacks. The main one is that the person you're calling doesn't know he's supposed to be following the script, too, and when he gets off track, so do you.
Desperately Seeking Imports
How do you go about finding goods to bring stateside? You have several options:
Travel abroad on an import search mission.
Wait for foreign manufacturers to contact you.
Attend trade shows.
Contact foreign embassies' trade development offices.
Contact the U.S. Department of Commerce's International Trade Association.
Track down leads on the Internet and in trade publications.
Selling Yourself
You've located foreign manufacturers or suppliers whose products have U.S. sales potential. Now you have to sell them on the idea of entering the U.S. marketplace and convince them that you're the person to usher them in. How do you do this? Basically, the same way you'll pitch domestic manufacturers, with a direct-mail campaign. Only in this case, you'll do better to think of it as a direct fax letter. Although many traders rely on international mail, unless you're sending to regions or countries with highly developed infrastructures, such as Canada or Western Europe, you'll be much more assured of your missive reaching its destination if you send it by fax.
In your letter, outline the various opportunities available in the United States for the product and highlight that you'll handle all import logistics with little cost to the manufacturer. It's very similar to the export letter, with two exceptions:
You should address the letter recipient. For example, use Monsieur (abbreviated M.) instead of "Mr." if the recipient is French. Even though your letter is in English, this little touch shows that you do know something about the French language and that you've taken the care and courtesy to address the recipient in his own tongue.
Check to make sure you've eliminated any slang that may be confusing to non-natives.
International Call
Follow up in a few days with another fax. Think of the follow-up as a firm but gentle nudge, an opportunity to strengthen your position and demonstrate real interest in importing the merchandise. Remember that part of your task is to convince the potential client that your company is the best one for the job, so you have to supply a reason for this. If you can't claim that you're experienced in interior design (or mulch or whatever) sales in the United States and Europe (or wherever), then come up with something else. Maybe you're only experienced in the United States so far. That's fine! That's where you'll be selling. Maybe you're not experienced yet, but you've done a great deal of research. Fill that in instead. Use your creativity!
Marketing Plan
Whether you're planning on exporting or importing, be prepared to present your prospective client with a marketing plan. If the manufacturer is close to home, you'll naturally present it in person. If she's overseas, you may still have to (make that get to) arrange a personal visit to close the deal. If you feel strongly enough about the product's U.S. potential, the trip will be worth the time and expense.
To prepare your marketing plan, you'll need the information you've already asked for: pricing, product brochures or literature, and samples. If your prospect balks at supplying these materials, tell her that you'll need them to further explore the market potential and develop a presentation for her, outlining the market strategy you plan to pursue.
Once you have the materials in your office, sit down and figure out every possible expense you'll have so you can arrive at your sales price. Then, if you've already been in contact with distributors or representatives, find out if this price will sell in their market. If you don't have any representatives yet, you'll need to locate one and determine if he can work with that price. Assuming the answer is yes, you've got a viable product.
Now write out your marketing plan, which should include the following elements:
Target: Which country or countries will you or your representatives sell in? Why are these markets viable? Include positive market research information and be sure to assemble it in a clear, concise, easy-to-digest format. This is where your desktop publishing programs will shine--you can make charts, graphs and tables interspersed with facts, figures and text.
Sales: Explain at what price you'll sell the product, give your annual sales forecast, your fee structure and the profits the manufacturer can expect.
Marketing: Briefly touch on any special marketing or promotions for the product; for example, foreign or domestic trade shows or any local advertising your reps will do.
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How to Start an Import/Export Business
From importing exotic fashions to exporting light fixtures, the international trade business will take you all over the world and into all product niches.
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Article ContentsIntroduction
Target Market
Startup Costs
Income & Billing
Operations
Marketing
Resources
Editor’s note: This article was excerpted from our Import/Export Business start-up guide, available from SmallBizBooks.com.
International trade is one of the hot industries of the new millennium. But it's not new. Think Marco Polo. Think the great caravans of the biblical age with their cargoes of silks and spices. Think even further back to prehistoric man trading shells and salt with distant tribes. Trade exists because one group or country has a supply of some commodity or merchandise that is in demand by another. And as the world becomes more and more technologically advanced, as we shift in subtle and not so subtle ways toward one-world modes of thought, international trade becomes more and more rewarding, both in terms of profit and personal satisfaction.
Importing is not just for those lone footloose adventurer types who survive by their wits and the skin of their teeth. It's big business these days--to the tune of an annual $1.2 trillion in goods, according to the U.S. Department of Commerce. Exporting is just as big. In one year alone, American companies exported $772 billion in merchandise to more than 150 foreign countries. Everything from beverages to commodes--and a staggering list of other products you might never imagine as global merchandise--are fair game for the savvy trader. And these products are bought, sold, represented and distributed somewhere in the world on a daily basis.
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But the import/export field is not the sole purview of the conglomerate corporate trader, according to the U.S. Department of Commerce, the big guys make up only about 4 percent of all exporters. Which means that the other 96 percent of exporters--the lion's share are small outfits like yours wil be--when you're new, at least.
Champagne and Caviar
Why are imports such big business in the United States and around the world? There are lots of reasons, but the three main ones boil down to:
Availability: There are some things you just can't grow or make in your home country. Bananas in Alaska, for example, mahogany lumber in Maine, or Ball Park franks in France.
Cachet: A lot of things, like caviar and champagne, pack more cachet, more of an "image," if they're imported rather than home-grown. Think Scandinavian furniture, German beer, French perfume, Egyptian cotton. Even when you can make it at home, it all seems classier when it comes from distant shores.
Price: Some products are cheaper when brought in from out of the country. Korean toys, Taiwanese electronics and Mexican clothing, to rattle off a few, can often be manufactured or assembled in foreign factories for far less money than if they were made on the domestic front.
Aside from cachet items, countries typically export goods and services that they can produce inexpensively and import those that are produced more efficiently somewhere else. What makes one product less expensive for a nation to manufacture than another? Two factors: resources and technology. A country with extensive oil resources and the technology of a refinery, for example, will export oil but may need to import clothing.
Types of Import/Export Businesses
First off, let's take a look at the players. While you've got your importers and your exporters, there are many variations on the main theme:
Export management company (EMC): An EMC handles export operations for a domestic company that wants to sell its product overseas but doesn't know how (and perhaps doesn't want to know how). The EMC does it all--hiring dealers, distributors and representatives; handling advertising, marketing and promotions; overseeing marking and packaging; arranging shipping; and sometimes arranging financing. In some cases, the EMC even takes title to the goods, in essence becoming its own distributor. EMCs usually specialize by product, foreign market or both, and--unless they've taken title--are paid by commission, salary or retainer plus commission.
Export trading company (ETC): While an EMC has merchandise to sell and is using its energies to seek out buyers, an ETC attacks the other side of the trading coin. It identifies what foreign buyers want to spend their money on and then hunts down domestic sources willing to export. An ETC sometimes takes title to the goods and sometimes works on a commission basis.
Import/export merchant: This international entrepreneur is a sort of free agent. He has no specific client base, and he doesn't specialize in any one industry or line of products. Instead, he purchases goods directly from a domestic or foreign manufacturer and then packs, ships and resells the goods on his own. This means, of course, that unlike the EMC, he assumes all the risks (as well as all the profits).
Swimming the Trade Channel
Now that you're familiar with the players, you'll need to take a swim in the trade channel, the means by which the merchandise travels from manufacturer to end user. A manufacturer who uses a middleman who resells to the consumer is paddling around in a three-level channel of distribution. The middleman can be a merchant who purchases the goods and then resells them, or he can be an agent who acts as a broker but doesn't take title to the stuff.
Who your fellow swimmers are will depend on how you configure your trade channel, but they could include any of the following:
Manufacturer's representative: a salesperson who specializes in a type of product or line of complementary products; for example, home electronics: televisions, radios, CD players and sound systems. He often provides additional product assistance, such as warehousing and technical service.
Distributor or wholesale distributor: a company that buys the product you've imported and sells it to a retailer or other agent for further distribution until it gets to the end user
Representative: a savvy salesperson who pitches your product to wholesale or retail buyers, then passes the sale on to you; differs from a manufacturer's representative in that he doesn't necessarily specialize in a particular product or group of products
Retailer: the tail end of the trade channel where the merchandise smacks into the consumer; as yet another variation on a theme, if the end user is not Joan Q. Public but an original equipment manufacturer (OEM), then you don't need to worry about the retailer because the OEM becomes your end of the line. (Think Dell Computer purchasing a software program to pass along to its personal computer buyer as part of the goodie package.)
The Right Stuff
Not everybody is cut out to be an international trader. This is not, for example, a career for the sales-phobic. If you're one of those people who would rather work on a chain gang than sell Girl Scout cookies, or if you blanch at the thought of making a sales pitch, then you don't want to be in import/export. This is also not a career for the organizationally challenged. If you're one of those let-the-devil-handle-the-details types whose idea of follow-up is waiting to see what happens next, you should think twice about international trading.
If, on the other hand, you're an enthusiastic salesperson, a dynamo at tracking things like invoices and shipping receipts, and your idea of heaven is seeing where new ideas and new products will take you, and if, to top it off, you love the excitement of dealing with people from different cultures, then this is the career for you.
It also helps if you already have a background in import/export. Most of the traders we talked with were well-versed in the industry before launching their own businesses. Peter P., who founded a Russian trading company, segued directly from his college major in international business to an operations position with an international frozen-meat trading company in Atlanta, which landed him in the right place at the right time.
"I speak both Russian and Ukrainian fluently," Peter says. "I'm of Ukrainian descent. I took Russian as a minor in college, initially as an easy grade. Little did I know when I graduated back in '89 that Russia would open up to the West shortly thereafter."
The Trade Hit Parade
According to the U.S. Census Bureau, the top 10 countries with which America trades (in order of largest import and export dollars to smallest) are:
Canada
Mexico
Japan
China
Germany
United Kingdom
France
Republic of Korea (South Korea)
Taiwan
Singapore
You needn't, of course, confine yourself to trade deals with importers and exporters in these countries--there are scads of other intriguing possibilities available, including the member countries of the Caribbean Basin and Andean pacts and the new kids on the Eastern Bloc, the former Soviet Union countries. But as a newbie on the international scene, you should familiarize yourself with our biggest trading partners and see what they have to offer. Then take your best shot, with them or with another country
http://www.entrepreneur.com/startingabusiness/businessideas/startupkits/article41846.html#ixzz0KlQO97Ja&DEvery business needs consumers for its products and services to, as the Vulcans so eloquently put it, live long and prosper. Now that you know what running an import/export business entails, you need to plan, or target, your market, and determine who your potential clients will be, which geographic areas you'll draw from, and what specific products or services you'll offer to draw them in.
This is a very important phase in the mega-trader building project. The proper market research can help boost your trading company into a true profit center, and the more research you do, the better prepared you are before you officially open your doors, the less floundering you're likely to do.
Who Are Your Customers?
Any manufacturer, supplier, crafter, artisan, importer, exporter or retailer is fair game. You can go after companies that deal in heavy construction equipment or delicate jewelry, gourmet goodies or pet food, telecommunications or toys. The only essential requirement is that they want to sell their merchandise or buy someone else's.
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This doesn't mean, however, that your best technique is standing at manufacturers' gates, tripping them as they walk to their cars after work each evening. Targeting by definition means homing in on a specific group.
If you have previous experience in a particular field, for example, you should seriously consider targeting that market first. You'll feel comfortable with the jargon and procedures so your sales pitch--and your initial sales--will go smoother and easier. As an added bonus, you may already have contacts in the field who can either become your first clients or steer you to colleagues in that area.
Dan S. targeted the field of technology--specifically, software solutions for commercial use and computer cables--simply because he's worked in that area for more than 10 years. He knows the field and feels comfortable in it.
Wahib W., too, began in a field he knew well, runway and navigational lights, then went on to other international construction projects, importing railroad and telephone pole materials and construction services, as well as other heavy-equipment materials.
What's My Niche?
OK. You've narrowed the list of products you'll target. Now you'll want to find your niche, the unique angle that will set your business apart from--and above--the competition. This is where you can really let your creativity shine through.
You may decide to start as an export management company (EMC, remember?), seeking out buyers for domestic manufacturing firms, or as an export trading company (ETC), finding domestic sources willing to export. Or you might want to stick with the original Trader Sam formula, importing and exporting on your own as an import/export merchant.
In Florida, Lloyd D. has positioned his company as both an EMC and ETC, depending on his clients' needs. "[As an EMC, we] work directly for a manufacturer, or his exclusive distributor/manager for international sales, as a marketing and screening provider," Lloyd explains, "and will search for and locate overseas buyers-for-resale and/or qualified distributors/sales representatives. [Our] objective is to function as an extension of [our] principal's in-house export sales efforts."
Under its ETC hat, Lloyd says, "[my company] performs in a fashion similar to that previously described, except for a diminished principal relationship, and business is typically conducted on a case-by-case or ad-hoc basis. It is more a sourcing function for the buyer and the seller."
In Germany, Michael R. describes his company's role this way: "[We are] a worldwide consultancy to SMEs (small and medium-sized enterprises) that wish to increase their sales and profits by using the available world markets more successfully."
Market Research
Here's a rapid-fire overview of your market research tasks. You'll want to do some in-depth investigation into each of these areas:
The product or service you'll sell
The end user you'll aim for (mass-market consumer, heavy industry, light industry, medical or hospital use, government, business or professional)
The country or countries you'll export to or import from
The trade channel you'll use (direct sales, representative, distributor or commission representative)
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One of the catch-22s of being in business for yourself is that you need money to make money--in other words, you need startup funds. These costs range from less than $5,000 to more than $25,000 for the import/export business. You can start out homebased, which means you won't need to worry about leasing office space. You don't need to purchase a lot of inventory, and you probably won't need employees.
Your basic necessities will be a computer, printer, fax machine and modem. If you already have these items, then you're off and running. Several of the traders we talked with started from ground zero. "We started from nothing," says Wahib W., but once they got a large project, that was all it took."
Peter P.'s company started from a similar financial position. "We had very little money in the bank," he says. What they did have was a carefully built relationship with suppliers, and this valuable asset the company was able to get up and running.
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One of the many nifty things about an import/export business is that its startup costs are comparatively low. You have the advantage of homebased-ability, which cuts office lease expenses down to nothing. Unless you're starting as a distributor, you can get away with purchasing no inventory, which means no outlay of funds for pretty doodads to grace display spaces (you have no display spaces!). Your major financial outlay will go toward office equipment and market research expenses--and if you're like many moderns, you already have the most expensive piece of office equipment: a computer system.
But let's take it from the top. The following is a breakdown of everything--from heavy investment pieces to flyweight items--you'll need to get up and running:
Computer system with modem and printer
Fax machine
Internet/e-mail service
Software
Market research and/or trade leads
Phone
Voice mail or answering machine
Stationery and office supplies
Postage
Travel expenses for conducting market research on foreign turf
You can add all kinds of goodies of varying degrees of necessity to this list. For example, a copier is a plus. It's also nice to have bona fide office furniture: a tweedy upholstered chair with lumbar support that swivels and rolls, gleaming file cabinets that really lock, real oak bookshelves.
But let's consider that you're starting from scratch. You can always set up your computer on your kitchen table or on a card table in a corner of the bedroom. You can stash files in cardboard boxes. It's not glamorous, but it'll suffice until you get your business steaming ahead
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Home > Starting a Business > Business Ideas > How to Start an Import/Export Business
How to Start an Import/Export Business
Income & Billing
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Article ContentsIntroduction
Target Market
Startup Costs
Income & Billing
Operations
Marketing
Resources
What can you expect to make as an international trader? The amount's entirely up to you, depending only on how serious you are and how willing you are to expand. Annual gross revenues for the industry range from $30,000 to $200,000 and beyond, with an average of about $75,000. Some traders work from home, supplementing 9-to-5 incomes with their trading expertise. Others have launched thriving full-time businesses that demand constant care and feeding. Wahib W.'s export company has a staff of five that oversees multimillion-dollar contracts.
"There are tons and tons of opportunities for [export] trade," says Wahib W. "U.S. manufacturers are at least 10 years behind the clock in exporting." So the potential for growth is entirely up to you--as long as you're willing to put in the time.
Pricing Yourself
As an international trader, you're an intermediary in the buying and selling, or importing and exporting, transaction. Therefore, you have to determine not just the price of the product, but the price of your services as well. These two figures are separate yet interactive. Because you're a swimmer in the trade channel, the price of your services has to be added on to the product price, and that can affect its competitiveness in the marketplace.
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Since the fee for your services will impact the success of the product, you may ultimately decide to change your pricing structure. You don't want to undercharge your client so that you can't cover your expenses and make a profit, but you don't want to overcharge and reduce the competitiveness of your company and the merchandise you represent.
Import/export management companies use two basic methods to price their services: commission and retainer. Normally, you choose one method or the other based on how salable you feel the product is. If you think it's an easy sell, you'll want to work on the commission method. If you feel it's going to be an upstream swim, difficult to sell and require a lot of market research, you'll ask for a retainer.
A third method is to purchase the product outright and sell it abroad. This is a common scenario when you're dealing with manufacturers who would rather use you as a distributor than as a representative. You'll still market the product under the manufacturer's name, but your income will come from the profit generated by sales rather than by commission.
The Commish
Import/export management companies usually operate on a commission basis of about 10 percent. These fees are based on the product cost from the manufacturer.
Let's say you're working with English lawn chairs, which cost you $110 each. Here's what you do: First, take the price the manufacturer is charging for the product: $110. Now multiply $110 by 10 percent, which gives you a commission of $11 per chair.
So your product price at this point is $121 per chair ($110 + $11). To come up with the final price, you'll need to add other costs to this figure: any special marking or packaging, shipping, insurance and any representative or distributor commissions that you'll pay to others in the trade channel, which we'll go over a little later. Once you've arrived at a final price, you'll check it against your competitors' prices (you did do your market research, right?). If your product's price is comparatively low, you can bump up your commission percentage.
For now, however, you can see that for every chair you or your trade channelers sell, you'll get $11. If you sell a thousand chairs, that's $11,000 for you!
Biting the Retainer
If the manufacturer can't discount her price sufficiently or if you feel that the product will be a tough sell, you'll want to ask for a flat retainer (the monetary kind, not the dental appliance kind). You'll pass all the costs of market research along to the manufacturer. By taking a retainer, you guarantee yourself a set income rather than one tied by commission to a "problem" product.
To determine what your retainer should be, you'll need to consider three variables associated with the performance of your services:
Labor and materials or supplies: This usually includes your salary or estimated salary on an hourly basis plus the wages and benefits you pay any employees involved in the performance of the job. To determine labor costs, estimate the amount of time it will take to finish a job and multiply it by the hourly rate of your salary and that of any employees you might use. You can compute materials as a percentage of labor, but until you have past records to use as a guide, you should use 2 to 6 percent.
Overhead: This variable comprises all the nonlabor, indirect expenses required to operate your business. To determine your overhead rate, add up all your expenses for one year, except for labor and materials. Divide this figure by your total cost of labor and materials to determine your overhead rate. Or use a rate of 35 percent to 42 percent of your labor and materials.
Profit: And the end result is: After all labor, materials and overhead expenses are deducted, profit can be determined by applying a percentage profit factor to the combined costs of labor and materials and overhead.
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What you will be doing during your peak hours and beyond will depend upon how you've structured your services. Some traders act only as sales representatives, finding buyers and taking commissions, but steer clear of the shipping, documentation and financing aspects of the deal. Others are happier offering a full line of services, buying directly from the manufacturer and taking on all the responsibilities of transactions from shipping to marketing. These traders often specialize in either import or export and stick to the merchandise industry they know best.
No matter how exotic you want to get, your most basic tasks will be obtaining merchandise, selling it, transporting it and getting paid for it.
The Export Path
OK, exporter--you've found a buyer for your merchandise. You're a player. You're ready to roll. So now what do you do? Follow the export path:
Generate the pro forma invoice--give the importer a quote on your merchandise; negotiate if necessary.
Receive the letter of credit from your bank.
Fulfill terms of the letter of credit: Have the merchandise manufactured if necessary; make shipping and insurance arrangements; pack the merchandise; and have the merchandise transported.
Collect shipping documents.
Present shipping documents to your bank.
The Import Path
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OK, importer. You've found the merchandise you want to buy and then resell. You're a player. You're ready to roll. So now what do you do? Follow the import path:
Receive the pro forma invoice, the exporter's quote on the merchandise; negotiate if necessary.
Open a letter of credit at your bank.
Verify that the merchandise has been shipped.
Receive documents from the exporter.
See merchandise through customs.
Collect your merchandise.
A Day in the Life
What does a trader's day really look like? What does he do in between preparing pro forma invoices, requests for letters of credit and shipping documents? Here's a behind-the-scenes peek, courtesy of Michael R., the international trade consultant in Germany:
First hour: Read statistics printed overnight by the computer to see if each representative/agent has fulfilled his plans, and initiate changes if necessary.
Work on the internet for one to two hours to see what inquiries have come in, then answer them personally or forward them to past or present clients who may be interested.
Have short meeting with colleagues to see if assistance is needed, then support them or trouble-shoot.
Look at the day's newspapers to see whether there's any movement within my industry where I should act fast.
Take a coffee break.
Look at the mail and handle or forward items.
After lunch, take time to reflect on what has and what should have happened.
Discuss problems and/or chances for the future with prospects and/or business partners.
Look again at e-mail and the Web for news and new opportunities.
At the end of the day, there should be about an hour to discuss again with colleagues how the day went and/or problems that came up.
One or two evenings a week, attend business events or meetings with partners for discussion.
On the Road
A trader isn't always at home behind his desk. What does he do when he's out on the road? Here's another behind-the-scenes peek, courtesy of Jan H., a Belgian tire trader:
Note that Jan's day, in typical European fashion, evolves through a 24-hour clock, or what we think of as military time.
Day in Belgium:
07.00 - 09.00 Office work, e-mail, fax offers, mail, etc.
09.00 - 12.00 Drive to airport, meet customer from Finland; back to warehouse, customer chooses products
12.00 - 13.00 Lunch with customer, general discussions
13.00 - 18.00 Visit with a customer from Nigeria; long discussion, haggling over prices, payment terms, etc.; supervise loading of containers bound for the United States; phone calls, fax, e-mail; arrival of a customer from France, discussions
18.00 Quick trip home to change and shower
19.00 - ?? Pick up French customer at hotel, have cocktails and dinner, more negotiations
Day on the road in Germany:
05.00 Leave home for 400 km drive
08.00 Arrive at first supplier; discussions and purchase of goods
10.00 Leave for next supplier
11.00 Next supplier; discussions without any result
12.00 Visit customer; make a sale
13.30 Visit another supplier; more discussions
15.00 Leave for another 300-odd km drive
18.00 Arrive at hotel; check e-mail on laptop, phone calls
19.30 Sauna and swim at hotel pool
20.30 Dinner with supplier, then to bed!
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As an international trader, your mission is sales--in two different but overlapping arenas: a) selling yourself and your company to clients as an import/export manager for their products, and b) selling the products themselves to representatives and distributors. Success in one of these arenas will contribute to your success in another. Once you've established a favorable sales record with one client's goods, you'll have a track record with which to entice other clients. And, of course, each success will contribute to your own self-confidence, which will, in turn, lend that air of confidence to your negotiations with new prospects.
Hunting for Exports
A surprisingly small percentage of domestic producers export their wares. So your marketing goal is to convince the huge remainder that they can increase profits by exporting--with your guidance--to specific target countries. You can accomplish this with direct mail and cold calls. If you're starting with imports, don't ignore this section--you'll work in basically the same manner.
Before you initiate contact with any manufacturer, you'll need to do some basic market research:
What products are hot sellers in the domestic marketplace? Focus your attention on products that you know well or use yourself, or that are bestsellers in their market niches.
Are these products hot sellers in your target countries?
If not, are there situations or markets that would put these products in great demand if the products were available?
Who manufactures these products?
What is the selling price of each product--and of competing products or brands--domestically and in your target countries?
Direct-Mail Dazzle
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Now you're ready to begin your direct-mail campaign. Choose one manufacturer of one of the products you've researched. Then call the company and ask for the name of the person to whom you'll want to write. If the company is small, you'll probably want the president or owner. If it's a larger concern, you might want to direct your letter to the vice president in charge of sales, the sales manager or the president or owner.
Armed with a name and title, write your letter, taking care to address the following points.
Introduce yourself and your company.
Briefly outline the potential of the overseas market.
Outline the product's potential within that market.
If possible, explain why and how your company, out of all others, will be able to position the product best. For example, if you have experience with like products, be sure to say so.
If you already have contacts with foreign distributors, explain that you have foreign representatives for overseas sales.
Ask for a personal meeting to further discuss the possibilities.
Once your first letter is in the mail, sit down and write another to a potential client in another product line. And then another, until you've exhausted your first set of preliminary market research products.
Now wait a week or 10 days. If you haven't heard from your first target manufacturer, give him a call. Ask to set up a meeting in his office to discuss your plan. Then call the next manufacturer and the next. If you're not familiar with sales, you may find this portion of the program a white-knuckler. Don't be nervous! You're offering these people a terrific opportunity. Not everyone is going to bite (not everyone can recognize a great deal when it jumps up and grabs them), but not everyone is going to turn you down, either. A no thank you now and then is part of the game.
(Cold)-Calling All Clients
Cold-calling, so-called because you call a potential client "cold" without any warming up by prior contact, is an alternative to the direct-mail approach. The good news is that, if you're calling locally, it's usually cheaper than direct mail. The bad news is that it requires much more perseverance to be effective. The other good news, however, is that, done properly, a cold call can be much more effective than direct mail.
Before you make your first call, be sure you know what you want to say and how you want to say it. Some experts recommend writing out a sort of "script" that you can follow during the course of your call. This is a good starting-off exercise to help plan your spiel, but be aware of the fact that following a script has its drawbacks. The main one is that the person you're calling doesn't know he's supposed to be following the script, too, and when he gets off track, so do you.
Desperately Seeking Imports
How do you go about finding goods to bring stateside? You have several options:
Travel abroad on an import search mission.
Wait for foreign manufacturers to contact you.
Attend trade shows.
Contact foreign embassies' trade development offices.
Contact the U.S. Department of Commerce's International Trade Association.
Track down leads on the Internet and in trade publications.
Selling Yourself
You've located foreign manufacturers or suppliers whose products have U.S. sales potential. Now you have to sell them on the idea of entering the U.S. marketplace and convince them that you're the person to usher them in. How do you do this? Basically, the same way you'll pitch domestic manufacturers, with a direct-mail campaign. Only in this case, you'll do better to think of it as a direct fax letter. Although many traders rely on international mail, unless you're sending to regions or countries with highly developed infrastructures, such as Canada or Western Europe, you'll be much more assured of your missive reaching its destination if you send it by fax.
In your letter, outline the various opportunities available in the United States for the product and highlight that you'll handle all import logistics with little cost to the manufacturer. It's very similar to the export letter, with two exceptions:
You should address the letter recipient. For example, use Monsieur (abbreviated M.) instead of "Mr." if the recipient is French. Even though your letter is in English, this little touch shows that you do know something about the French language and that you've taken the care and courtesy to address the recipient in his own tongue.
Check to make sure you've eliminated any slang that may be confusing to non-natives.
International Call
Follow up in a few days with another fax. Think of the follow-up as a firm but gentle nudge, an opportunity to strengthen your position and demonstrate real interest in importing the merchandise. Remember that part of your task is to convince the potential client that your company is the best one for the job, so you have to supply a reason for this. If you can't claim that you're experienced in interior design (or mulch or whatever) sales in the United States and Europe (or wherever), then come up with something else. Maybe you're only experienced in the United States so far. That's fine! That's where you'll be selling. Maybe you're not experienced yet, but you've done a great deal of research. Fill that in instead. Use your creativity!
Marketing Plan
Whether you're planning on exporting or importing, be prepared to present your prospective client with a marketing plan. If the manufacturer is close to home, you'll naturally present it in person. If she's overseas, you may still have to (make that get to) arrange a personal visit to close the deal. If you feel strongly enough about the product's U.S. potential, the trip will be worth the time and expense.
To prepare your marketing plan, you'll need the information you've already asked for: pricing, product brochures or literature, and samples. If your prospect balks at supplying these materials, tell her that you'll need them to further explore the market potential and develop a presentation for her, outlining the market strategy you plan to pursue.
Once you have the materials in your office, sit down and figure out every possible expense you'll have so you can arrive at your sales price. Then, if you've already been in contact with distributors or representatives, find out if this price will sell in their market. If you don't have any representatives yet, you'll need to locate one and determine if he can work with that price. Assuming the answer is yes, you've got a viable product.
Now write out your marketing plan, which should include the following elements:
Target: Which country or countries will you or your representatives sell in? Why are these markets viable? Include positive market research information and be sure to assemble it in a clear, concise, easy-to-digest format. This is where your desktop publishing programs will shine--you can make charts, graphs and tables interspersed with facts, figures and text.
Sales: Explain at what price you'll sell the product, give your annual sales forecast, your fee structure and the profits the manufacturer can expect.
Marketing: Briefly touch on any special marketing or promotions for the product; for example, foreign or domestic trade shows or any local advertising your reps will do.
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oor management is cited most frequently as the reason businesses fail, inadequate or ill-timed financing is a close second. Whether you're starting a business or expanding one, sufficient ready capital is essential. But it is not enough to simply have sufficient financing; knowledge and planning are required to manage it well. These qualities ensure that entrepreneurs avoid common mistakes like securing the wrong type of financing, miscalculating the amount required, or underestimating the cost of borrowing money.
Before inquiring about financing, ask yourself the following:
* Do you need more capital or can you manage existing cash flow more effectively?
* How do you define your need? Do you need money to expand or as a cushion against risk?
* How urgent is your need? You can obtain the best terms when you anticipate your needs rather than looking for money under pressure.
* How great are your risks? All businesses carry risks, and the degree of risk will affect cost and available financing alternatives.
* In what state of development is the business? Needs are most critical during transitional stages.
* For what purposes will the capital be used? Any lender will require that capital be requested for very specific needs.
* What is the state of your industry? Depressed, stable, or growth conditions require different approaches to money needs and sources. Businesses that prosper while others are in decline will often receive better funding terms.
* Is your business seasonal or cyclical? Seasonal needs for financing generally are short term. Loans advanced for cyclical industries such as construction are designed to support a business through depressed periods.
* How strong is your management team? Management is the most important element assessed by money sources.
* Perhaps most importantly, how does your need for financing mesh with your business plan? If you don't have a business plan, make writing one your first priority. All capital sources will want to see your plan for the start-up and growth of your business.
Not All Money Is the Same
There are two types of financing: equity and debt financing. When looking for money, you must consider your company's debt-to-equity ratio -- the relation between dollars you've borrowed and dollars you've invested in your business. The more money owners have invested in their business, the easier it is to attract financing.
If your firm has a high ratio of equity to debt, you should probably seek debt financing. However, if your company has a high proportion of debt to equity, experts advise that you should increase your ownership capital (equity investment) for additional funds. That way you won't be over-leveraged to the point of jeopardizing your company's survival.
Equity Financing and Venture Capital
Most small or growth-stage businesses use limited equity financing. As with debt financing, additional equity often comes from non-professional investors such as friends, relatives, employees, customers, or industry colleagues. However, the most common source of professional equity funding comes from venture capitalists. These are institutional risk takers and may be groups of wealthy individuals, government-assisted sources, or major financial institutions. Most specialize in one or a few closely related industries. The high-tech industry of California's Silicon Valley is a well-known example of capitalist investing.
Venture capitalists are often seen as deep-pocketed financial gurus looking for start-ups in which to invest their money, but they most often prefer three-to-five-year old companies with the potential to become major regional or national concerns and return higher-than-average profits to their shareholders. Venture capitalists may scrutinize thousands of potential investments annually, but only invest in a handful. The possibility of a public stock offering is critical to venture capitalists. Quality management, a competitive or innovative advantage, and industry growth are also major concerns.
Different venture capitalists have different approaches to management of the business in which they invest. They generally prefer to influence a business passively, but will react when a business does not perform as expected and may insist on changes in management or strategy. Relinquishing some of the decision-making and some of the potential for profits are the main disadvantages of equity financing.
You may contact these investors directly, although they typically make their investments through referrals. The Small Business Administration (SBA) SBA also licenses Small Business Investment Companies (SBICs) and Minority Enterprise Small Business Investment companies (MSBIs), which offer equity financing. Apple Computer, Federal Express, and Nike Shoes received financing from SBICs at critical stages of their growth.
Debt Financing
There are many sources for debt financing: banks, savings and loans, commercial finance companies, and the SBA are the most common. State and local governments have developed many programs in recent years to encourage the growth of small businesses in recognition of their positive effects on the economy. Family members, friends, and former associates are all potential sources, especially when capital requirements are smaller.
Traditionally, banks have been the major source of small business funding. Their principal role has been as a short-term lender offering demand loans, seasonal lines of credit, and single-purpose loans for machinery and equipment. Banks generally have been reluctant to offer long-term loans to small firms. The SBA guaranteed lending program encourages banks and non-bank lenders to make long-term loans to small firms by reducing their risk and leveraging the funds they have available. The SBA's programs have been an integral part of the success stories of thousands of firms nationally.
In addition to equity considerations, lenders commonly require the borrower's personal guarantees in case of default. This ensures that the borrower has a sufficient personal interest at stake to give paramount attention to the business. For most borrowers this is a burden, but also a necessity.
Source: U.S. Small Business Administration
Before inquiring about financing, ask yourself the following:
* Do you need more capital or can you manage existing cash flow more effectively?
* How do you define your need? Do you need money to expand or as a cushion against risk?
* How urgent is your need? You can obtain the best terms when you anticipate your needs rather than looking for money under pressure.
* How great are your risks? All businesses carry risks, and the degree of risk will affect cost and available financing alternatives.
* In what state of development is the business? Needs are most critical during transitional stages.
* For what purposes will the capital be used? Any lender will require that capital be requested for very specific needs.
* What is the state of your industry? Depressed, stable, or growth conditions require different approaches to money needs and sources. Businesses that prosper while others are in decline will often receive better funding terms.
* Is your business seasonal or cyclical? Seasonal needs for financing generally are short term. Loans advanced for cyclical industries such as construction are designed to support a business through depressed periods.
* How strong is your management team? Management is the most important element assessed by money sources.
* Perhaps most importantly, how does your need for financing mesh with your business plan? If you don't have a business plan, make writing one your first priority. All capital sources will want to see your plan for the start-up and growth of your business.
Not All Money Is the Same
There are two types of financing: equity and debt financing. When looking for money, you must consider your company's debt-to-equity ratio -- the relation between dollars you've borrowed and dollars you've invested in your business. The more money owners have invested in their business, the easier it is to attract financing.
If your firm has a high ratio of equity to debt, you should probably seek debt financing. However, if your company has a high proportion of debt to equity, experts advise that you should increase your ownership capital (equity investment) for additional funds. That way you won't be over-leveraged to the point of jeopardizing your company's survival.
Equity Financing and Venture Capital
Most small or growth-stage businesses use limited equity financing. As with debt financing, additional equity often comes from non-professional investors such as friends, relatives, employees, customers, or industry colleagues. However, the most common source of professional equity funding comes from venture capitalists. These are institutional risk takers and may be groups of wealthy individuals, government-assisted sources, or major financial institutions. Most specialize in one or a few closely related industries. The high-tech industry of California's Silicon Valley is a well-known example of capitalist investing.
Venture capitalists are often seen as deep-pocketed financial gurus looking for start-ups in which to invest their money, but they most often prefer three-to-five-year old companies with the potential to become major regional or national concerns and return higher-than-average profits to their shareholders. Venture capitalists may scrutinize thousands of potential investments annually, but only invest in a handful. The possibility of a public stock offering is critical to venture capitalists. Quality management, a competitive or innovative advantage, and industry growth are also major concerns.
Different venture capitalists have different approaches to management of the business in which they invest. They generally prefer to influence a business passively, but will react when a business does not perform as expected and may insist on changes in management or strategy. Relinquishing some of the decision-making and some of the potential for profits are the main disadvantages of equity financing.
You may contact these investors directly, although they typically make their investments through referrals. The Small Business Administration (SBA) SBA also licenses Small Business Investment Companies (SBICs) and Minority Enterprise Small Business Investment companies (MSBIs), which offer equity financing. Apple Computer, Federal Express, and Nike Shoes received financing from SBICs at critical stages of their growth.
Debt Financing
There are many sources for debt financing: banks, savings and loans, commercial finance companies, and the SBA are the most common. State and local governments have developed many programs in recent years to encourage the growth of small businesses in recognition of their positive effects on the economy. Family members, friends, and former associates are all potential sources, especially when capital requirements are smaller.
Traditionally, banks have been the major source of small business funding. Their principal role has been as a short-term lender offering demand loans, seasonal lines of credit, and single-purpose loans for machinery and equipment. Banks generally have been reluctant to offer long-term loans to small firms. The SBA guaranteed lending program encourages banks and non-bank lenders to make long-term loans to small firms by reducing their risk and leveraging the funds they have available. The SBA's programs have been an integral part of the success stories of thousands of firms nationally.
In addition to equity considerations, lenders commonly require the borrower's personal guarantees in case of default. This ensures that the borrower has a sufficient personal interest at stake to give paramount attention to the business. For most borrowers this is a burden, but also a necessity.
Source: U.S. Small Business Administration
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