Fake Chinese Suppliers

The typical fake supplier in China registers a company, draws up documents under some peasant’s name, sign up with Alibaba, creates a profile page with a professional look and hires a few English speaking sales people (unaware their employer is a scam). When all is set, as soon as he receives around 30-50% deposit from a few clients he disappears.

Here are five quick ways to check the genuineness of that supplier you are about sending money:

1. SUPPLIER’S BUSINESS LICENSE and EXPORT LICENSE

The export license and supplier’s business license are two vital and important documents you must request for. The supplier should provide you these and the registration number which can be confirmed by sending a mail to the State Administration for Industry & Commerce of the people’s republic of China at dfa@saic.gov.cn. The agency will confirm the authenticity of the documents.

2. GOOGLE SEARCH

You can easily search for the supplier’s information and his email address on Google. This simple search would reveal alot of information including reviews about the supplier.

3. PAYMENT METHODS

Genuine suppliers register their bank account with the company name, in a situation whereby the supplier sent you a private person account details, beware! something is not right.

MUST READ: Is Alibaba Really A Scam

4. THE SUPPLIERS WEBSITE DETAILS

Most of the suppliers including the scammers have their own website. Conduct a check on the website details , first check the Website WHOIS and registration date. If its recently registered, beware it might be a scam.

Also, check the phone number, fax and address provided on their website on Google. You can also use Google Drag and Drop to check if the Logo, Factory and product pictures are gotten somewhere else or they are truly theirs

MUST READ: All You Need To Know About Importing From China.

5. SAMPLES

Fake suppliers in China usually find all kinds of excuses to avoid to send a sample. If their answers are slow regarding this topic, it is either a scammer or a middleman.

The post 5 Simple But Powerful Ways to Identify Fake Chinese Suppliers appeared first on Importation Wealth - Mini Importation Business Blog.

• When an order is updated to ‘Shipped’, the value of the item less commission is updated to ‘Balance Pending’. This order value remains here until the order is updated to delivered, cancelled or placed on arbitration.
• When an order is updated to ‘Delivered’, the value of the item less commission moves from Balance Pending to ‘Escrow’ (Balance Payable). This value remains in Escrow until the return policy elapses( return policy can either be 0 days or 7 days).

• Once your return policy elapses, the value of the item less commission moves from your escrow to your Konga Wallet. If you do not offer a return policy, funds are placed in escrow for 72 hours then moved to your wallet after 72 hours.

• Fundscredited into your wallet remain there until a payout is initiated by you.

• All Payout requests are processed within 72 hours.

MUST READ: How To Increase Your Sales On Konga.

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Selling Imported Goods On Konga

Konga is one of the easiest medium to sell imported goods fast. Here is the 10 simple steps involved in selling goods on Konga:

STEP 1

To start selling on Konga, Simply visit www.shq.konga.com. Click on the “Register” button and fill out the sign up form.

Make sure you fill all the box correctly.

STEP 2

Check your email for the confirmation email that will be sent to you. Click on the link in the mail to verify your account.

STEP 3

You will get a free storefront and dedicated  support. Konga will assign you a dedicated account manager that will ensure the smooth day-to-day running of your store.

STEP 4

Login to your seller account. This is where you manage everything about your store.

Your account should like the screenshot above. Make sure you click around to get a hold of how things work.

MUST READ: Selling on Konga Marketplace: Understanding the Payment Process

STEP 5

Upload your products to Konga. To do this simply click on the “Sell an Item” button. You will be directed to the listing page where you will be required to fill all the necessary information about your product.

Make sure you list your product under the right category. A female shoe will be under Fashion, then women’s shoes, then the type of shoe it is (Ballerina or wedge or anything that it is).

STEP 6

This is the step that it start getting interesting because nothing feels good more than getting an order for your goods. customer order for your goods on Konga.

MUST READ: How A Nairalander Made Over #45,00 in 2 Days.

STEP 7

Konga verifies the order before notifying you through Email and SMS

STEP 8

You will be required to login to your account and accept the order and process it

STEP 9

The processed order shall be taken to any Konga Drop-off location nearest to you or you deliver it yourself. If you are using Konga Drop-off service all you need is your SellerHQ ID and the print out of the order.

STEP 10

The goods get delivered and Konga makes the money available on your account. Then you can withdraw the money to your bank account.

The post 10 Simple Steps to Selling Imported Goods on Konga appeared first on Importation Wealth - Mini Importation Business Blog.

Millionaire Material.

Most of the millionaires in the world aren’t celebrities living in massive estates.  In fact, you could be living next to a millionaire and you might not even know it.

As it turns out, there are quite a few traits that millionaires share – and it isn’t just what they have in their bank account.

In this post, we’ll take a look at the traits that millionaires have in common, backed by research.

Try incorporating some of these things into your daily life, and who knows – maybe you’re a millionaire in the making.

MUST READ: 5 Attributes Of An Importer.

1. Millionaires Are Self Employed Entrepreneurs

Think it’s risky to start something on your own?  Millionaires think the opposite – they think it’s risky to work for someone else.

There’s a certain drive, hustle and itch that these entrepreneurs just have to scratch.  They can’t work for someone else – not because they don’t want to, but because they always need something to do on their own.

2. They Dream Big and Have a Strong Work Ethic

Millionaires see the possibilities beyond just the immediate future – they look to scale.  Nothing holds them back.  Obstacles and setbacks are just potential learning experiences.

They have big dreams, and truly believe that their dreams will come true, even if it means heading into uncharted territory.

With that in mind, achieving those dreams takes some hard work.  And a strong work ethic is required.

3. They Choose Their Careers Strategically

The majority don’t tackle a business or product they’re passionate about.  Usually, they’ll start a career where they know they can make money by jumping on a trend, or seeing a gap in a niche market.  If that trend is something they’re passionate about – then it just makes things even easier. Saying the important trait of an importer

4. Millionaires Have a High Tolerance of Risk and Failure

Failure is a constant feedback loop.  Every time you fail, you’ll learn something.

To be a market leader in any business, you have to be willing to take big risks that might fail.  You have to be able to get back up after getting knocked down, and use what you’ve learned to grow and keep going forward.

Big bets mean big failures, but big bets can mean big successes.

5. They Are Self-Disciplined and Delay Gratification 

Self-discipline is an extremely important and common trait among millionaires and successful entrepreneurs.

By being self-disciplined, millionaires are able to delay gratification in the short term – they’re able to keep their long-term goals of becoming financially independent and successful.

6. They Have Inherent Sales and Marketing Skills

Although they might not think of it, all millionaires have some sort of inherent sales and marketing skills.  It’s just who they are as a person.  It comes as second nature to them.

7. They Don’t Spend Frivolously

The majority of millionaires today aren’t popping thousand dollar bottles of champagne, buying luxury cars or million dollar homes.

In fact, millionaires find great value in managing their money and planning for a successful, financially independent future.

Conclusion

Now that we’ve taken a look at some of the things millionaires have in common, it’s up to you to take action and start planning to make your first million.

What will your first step be?  Let us know in the comments below!

The post Are You Millionaire Material? 7 Things Millionaires Have in Common appeared first on Importation Wealth - Mini Importation Business Blog.

Online Importation.

Online importation business is over…

You can’t make money from it as it were back then…

As a matter of fact, it’s impossible to invest in it and make your capital back, talk less of making any profit.

Maybe it’s time to focus my energy on something else…

If the above assumption is your perspective, then am sorry to burst your bubble!

You’re wrong!

It’s still very much possible to make money from the importation business, as a matter of fact, now is one of the best time to make huge profit from the business.

The reason for this is not far-fetched:

Everybody knows that a dollar is currently being sold for about #200 in the official market, so it is expected that the price of imported good would be expensive, which means when you tell customer about price inflation, they would have little or no reason to challenge the price changes.

The truth here is that, the price did not really change from your end, but rather, you want to enjoy the tide of the current issue and make more money for yourself.

So in this post, I’ll show you clear-cut, time proven ways of making money as an online importer, despite the poor economy of the country at this point in time.

1. Don’t Stock Goods!

It’s a good idea to buy and stock items when the exchange rate was fair to some extent. You can buy in bulk from china and keep them in your store to sell off bit by bit. But it is not a good idea right now; as a matter of fact you should avoid stocking items.

If you’ve made a name for yourself in the business, I would advise that you create a request list and make a list of items needed by your customer, tell them the price before you get the item and order it specifically for them. The good thing about importation business is that, most goods we import and sell are not needed on emergency basis. So you can always promise a customer to check back in a week or two while you place the order specifically for that customer.

The main reason why I said you should avoid stocking items is because of the unstable rate of the currency, it might crash anytime and that would affect your investment capital because you might have gotten the item at a relatively high price.

2. Buy PayPal In Black Market.

This is a bit complex, but I will try my best to explain in a very simple way.

Recently, PayPal added Nigeria to the list of countries where they operate, however, we are still unable to receive payment with Nigeria PayPal account, but you’re allowed to make payment online with the account.

The idea of buying PayPal money in black market is very simple, all you need to do is connect with bloggers, affiliate marketers, freelance writers and other online business workers that receive PayPal payment from their clients. Normally, a larger percentage of them cannot withdraw money from PayPal because their account is either not verified or it’s not allowed to receive payment (Nigeria PayPal).

On your own part, you would go a bit extra mile in getting a verified PayPal account, it would cost less than $10 in setting up a verified PayPal account that would be able to receive and make payment anywhere in the world.

There are people that offer the service of creating and verifying a PayPal account on your behalf, they would charge you certain amount of money and your account will be ready in about two weeks. If you want to do it yourself, it’s very easy and simple, provided you follow the guideline religiously.

The first thing is to create a US Paypal account (using VPN IP to access PayPal website) after creating the account, you can head over to Payooner.com (It’s an online banking website that will create a verified US bank account for you) follow the procedure on the website and apply for a US Bank account,. Once this is done, you can then use the US bank account from Payoneer to verify your US PayPal Account.

The benefit of this method over hiring somebody to create the verified paypal account for you is that, Payonner will send you a credit card which you can actually use to withdraw your money anywhere in the world!

This post is not about creating a verified paypal account, so the information might not very explicit, but I might write a post on the procedure in the nearest future, if time permits.

Now, let’s see how you can make money from the verified paypal account and use the money to boost your online importation capital.

Remember I said earlier that most bloggers and freelance writers are always looking for somebody to buy off their PayPal Money, they are every where; on nairaland, facebook e.t.c. If you look in the right places you would make contact with a handful of them that would be able provide a steady supply of PayPal Money when needed.

Now, here is that catch…

PayPal Dollar is sold at a cheaper price in the black market by bloggers and freelancers, mainly because they need money quickly, or they don’t want to pass through the stress of verifying and withdrawing the fund in Nigeria. You can take this to your advantage, by buying off the dollar at a cheap price and using it to make purchase at the normal exchange rate.

As as the time of compiling this post, the current black market price for $1 paypal fund ranges between #170-#180 if the seller is selling less than a $100, but it can be up to #185 per dollar is the seller is selling above $100 at a time, either ways, it’s still to your advantage.

Certain precautions should be taken when venturing into black market purchase of PayPal, you would want to refrain from buying PayPal from fraudster, and also you want to ensure that the money is transferred into your account before making payment.

As far as your PayPal account is concerned, you should also make sure that you access it with VPN and US IP to avoid being banned in the long run. To be on the safer side, refrain from accumulating funds in the account.

3. Buy From Cheap Websites.

If your main purchasing websites is aliexpress, then I am sorry to inform you that you’re not yet a seasoned online importer.

There are various websites where you can buy from Asian market at a relatively cheap price. Check through this websites to get the best deal before making any purchase. Put every safety precaution in place and make the best of all deals.

Example of websites where you can make cheaper purchase from china is 1688.com, I wrote a free comprehensive ebook on how to make purchase from this website at maximum profit, click here to download the e-book for free

4. Search, Negotiate and Negotiate the more.

If you’ve ever been to computer village before, you will understand what am about to say very well.

Let me share a little secret with you before I proceed. On retail websites like Konga, or Jumia or Kaymu e.t.c, a retailer can list the same items more than once, and put different price on each listing. Take note that the listing will have the same description and configuration, the price you would buy the item depends on the link you eventually stumbled on.

The lesson here is to make sure you conduct a very wide search before you decide on where to purchase the item, take your time to search through the website, compare the price with what other retailers are offering and choose the best price.

After deciding on where to make the purchase, you can then begin a real time negotiation with the seller.

One of the methods I have used in time past is to tell the retailer that I have a long term goal of importing hundreds or thousands of the product on weekly basis, however, I would like to test the market over here and see how the business moves before I begin importation on a larger scale, so he should consider me a long term partner and reduce the price because I would eventually come back to make larger purchase. This method works all the time and you would be surprised at how much the price can drop mainly because of that

In conclusion, it’s important to take note that there is opportunity everywhere, you can still make money from the online importation business provided you follow the right guideline and avoid the common errors.

All you have to do is study the market,  know your audience and sell as appropriate.

The post How to Make Profit from Online Importation in Poor Economy appeared first on Importation Wealth - Mini Importation Business Blog.

Importation Business.

Raising money for any form of business might be a little bit challenging. I know this because I have been there before. It’s not a very good feeling to know a lot about a particular business or have a great idea but not being able to execute it due to lack of fund.

Overtime it has been established that information is all you need to make money, sometimes however, some information are incomplete, which makes it a little bit difficult to make money from such information.

Here on importation wealth, we have written several articles on how to make money from importation, we’ve shared different ideas on how to sell your goods, and we’ve analyzed different markets and fast selling goods.

Today’s post will be a little bit different from what we’ve been doing in the time past. I would give you ideas on how to raise money for your business; I tagged the post with “importation business” because that’s what we focus on here. It should however be noted that the ideas in this post can be used to raise money for any other business.

Personal Savings

This is one of the easiest ways of raising money for your business. The investment capital might be a little bit small because it’s your savings, but you don’t have to worry about failing or losing your capital because it’s your money and you’re not indebted to anybody.

If the business proper or fail, you don’t have to explain your success or predicament to anybody because you don’t owe anybody.

For newbies, I have always advised that they invest their personal savings in their first business. It also serves as motivation because you wouldn’t want your hard earned money to go down the drain, which means you would do your best to make sure the business prosper at maximum profit.

So, if you’ve known about the importation business for a while, but you’re limited by the lack of fund. It’s time you consider saving some personal funds in other to bring your knowledge of the business to practice.

You don’t have to accumulate huge funds before commencing the business. A personal savings of #10,000 is a good start to test your knowledge. You should be able to raise this within a month or two provided you take it as a priority.

I would later in this post talk about importance of investing your personal savings for your first attempt.

Family

A larger percentage of us might not have the luxury of family support. But if you fall into the category of those that enjoy the support of family members. You should consider discussing your business ideas with them, and hopefully they would be willing to help out in one way or the other.

To make this work, you would have to make a list of your family members or relative and put each of them into three categories based on how much you know they can afford. You might create a group of those that can afford #1000-#5000, another group for those that can afford #5000-#10000, and group of those that can afford more than #10,000

You would normally focus on those that can afford above #5000, you will have to take some time and visit them in person, and explain your business ideas to them in details. Give them a time frame for when you need the money (A month or two is appropriate), Call them and send text messages on weekly basis to remind them of your request.

To those in the group of #1,000 – #5,000 You can send a text once and if they are willing to help, they would get in touch when they have the money.

When raising funds for business, no amount is small or too big, so accept all donations with appreciation, and don’t forget to carry your benefactors along as you make progress with your business.

The benefits of raising money through family members is almost similar to that of personal savings, the difference being that you get to raise a larger capital compared to your personal savings.

Loan

PS: Don’t consider getting a loan for importation if this is your first attempt!

This method is strictly for veterans in the business, and it is not advisable for newbies.

There are various ways of acquiring loans for your business, you choice depends on how huge the amount of money you are willing to borrow.

If it’s not a huge amount of money, you might consider the borrowing from your friends or family members. Getting an unofficial loan (from friends, family cooperative societies) might be a good choice if you don’t have something tangible that can be used for collateral.

If you’re established already and you require a huge sum of money to move your business to the next level, you might consider writing a business proposal and submit the loan application and business proposals to commercial banks around you.

It should be noted that most commercial bank requires that your company is registered with the corporate affairs commission before a loan request can be granted.

Business Partner

Provided you know a lot about the importation business and you’re short on funds to put your knowledge to practice, you might want to reach out to some of your friends, colleagues or family members that would be willing to invest in your business or become a partner with you.

The idea is to make them interested in the business, “sell” the business idea to them such that they would be willing to join you in making your business idea come into reality.

I have in time past time partner with various people from different part of the country, most of them are older and some are within my age range. As a potential business individual, you must be able to market your idea such that others would be willing to join you in the business.

It’s very easy to get a genuine business partner. You might want to run the idea by your colleagues at school or work, or by your friends. You might also make a post on social media and target them at your friends only.

If you’re opting for this method of raising money, you should do your best to make sure your potential business partner understand what he/she is getting into. Most people would not understand the basis of the business before jumping right in, and when the money is not coming in as fast as they expect, they would start giving you problem. So don’t be in a hurry to get a partner without making understand the pros and cons of the business.

Make them understand that it’s very much possible to fail just like any other business.

Down Payment

I made mention of personal savings in the initial part of this post. If you’ve tried the business with your little personal savings, then you can consider raising money for your business to large scale by asking for down payment from buyers.

Getting buyers that would make down payment for items they are yet to see requires some level of trust, which makes it difficult to get buyers in the first instance. You might want to start from old time friends and family members.

You just have to put the words out there and tell people about the type of business you’re into.

Extra caution should be taken when you’re raising money through down payment because it might be worrisome if things should go wrong along the line.

Premium Class

Knowledge is of great value in this society of ours. So if you know more about the importation business and you’ve tried it with success yourself. You might gather evidences that would support your claim of making money from the business and organize a premium class on importation business, you might as well write a comprehensive guide on how to import goods and make money from the business.

You can charge clients some money and use the profit from the E-Book or Premium guide for the business.

In conclusion, it’s very important to take note that nothing good comes easy, the successful people in the world are those that are resilient enough to go extra mile to make their dreams come true.

The post How to Raise Money for Importation Business appeared first on Importation Wealth - Mini Importation Business Blog.

There are various ways of making money online, one of which is the mini importation business, what most people don’t know is that making money from the importation business comes in diverse ways and the amount of money you make from this business depends on how deep a thinker you are.

The overall idea of importation business is to get goods at a ridiculously cheap price and sell them off for high profit in the country.

When it comes to mini importation business, the first thing that comes to the mind of an average Nigerian importer is “Chinese market”. On the other hand, it is also possible to make huge income from the online importation business when you explore other market place online, most especially the American market.

I have written many instructional guides on how to be a successful importer but most of the focus has always been on Asian market, in today’s post, I would show you how to buy cheap premium product from EBay Auction, ship it to Nigeria and how to make maximum profit from your product.

Cheap Ebay Auction.

The article will be in three parts; the first part will focus on searching and buying process, while the second and third part will discuss the shipping and the selling process respectively.

SEARCHING AND BUYING

The main concept behind buying from EBay is to bid on premium product (most of which are fairly used) and sell them at a relatively high price in Nigeria. A perfect example of these premium products includes IPhone, Laptops, Washing Machine, Basic Utensils, Game consoles, Games DVD, Monitors etc. You can think of any branded product that Nigerians would invest real money on.

The beauty of an auction is that you’re competing with others which most times sellers would put the minimum price tag on their product with the hope that the bidding will eventually increase the final selling price, at the same time there is a “buy now” option that allows buyer to pay the specified amount for the product.

As a buyer, your main aim is to scout for your product and keep bidding on it until the final day. Here is where the trick comes in;

First, you would head over to ebay.com and create about five (5) different accounts on the site using different emails. You would only need one account for buying purpose, while other accounts will be used for bidding purpose. The idea is to create a monopolistic bidding on the item you’re about to buy, so that you would eventually win the bidding and get the item at your desired price.

Once the accounts are created, you would then search for your desired product and begin to place a bid; the initial biddings should be placed with your bidding accounts while the final and purchasing bidding should be done with your main account. The key to successful bidding is timing and proper planning.

Here is a practical example:

Let’s imagine you’re placing a bid on refurbished iPhone 4S phone, and the initial price is about $100, knowing fully well that a fairly used iPhone 4S (unlocked) would sell for about #30,000 in Nigeria, making a profit of #5000 on a single item is not too much, so you would want to bid in excess of $10-$20 dollar (depending on your generosity and how much profit you’re willing to squeeze out of the deal).

When you find your desired product, you would place an initial additional bid of $1, then you would save the link to the product and monitor the progress for another 24hours. If there is no significant activity on the product, you would log in with your second bidding account and bid on the same product with another additional $1, increasing the bidding price to $102 so far, you will keep monitoring the product for another two or three days. On a good deal, you might be the only buyer bidding on the product, but in some cases, you would be competing with other buys and this is when your other bidding account comes into play.

Use the other bidding account to out-bid other buyers without spending more than your budget. Once the bidding price becomes higher than your set price, you can as well find another product and repeat the same process until you win a bid on good deals.

It’s very easy to start and end a bid, all you need is a proper record of the products you’re monitoring and the specific amount of money you’re willing to invest in the purchase of the product.

Payment and Shipping to Nigeria

Depending on the location of your buyer, the method of payment and shipping might differs.

Since Nigerians can now make online payment using their PayPal account, the payment process is straight forward and secured.

Once you place your final bid on the desired product, using your “Buying Account” you can then make payment through PayPal and move on to the next stage of the purchase which is shipping.

On shipping, I have mentioned it several times that it’s cheaper and easy to use third party address when shipping from the United States to Nigeria. The main reason for this is not far-fetched.

Carrying out the shipping directly to your Nigeria address might be expensive, and it tends to take longer period of time compared to using a third party address. It might also be very stressful and cost-ineffective provided you’re making various purchases from different store.

As a result of this, I strictly advice that use a third party shipping company like ShippyMe, they charge based on the weight of item being shipped to Nigeria, another advantage of using a third party shipper is that; they help in repackaging all your goods into a single box and as a result you can always buy goods from time to time and order shipping on monthly basis.

Selling In Nigeria

A good importer must understand the basis of marketing and branding of goods…

It’s not a complex process, and it’s a trait that must be found in prospective business individual that is willing to make impressive income from the business.

There are cases when a customer would specifically request that you get an item for them, in such cases, you don’t have to pass through the stress of marketing the product once it gets to Nigeria.

But in cases where there is no buyer on ground, you’d have to market your goods at the right places. And the first place that comes to mind is Jumia and Konga. These sites are trusted and it’s easy to create a store on Jumia, direct traffic to the store and sell your goods at maximum profit.

You can create a Facebook page for your Jumia store and invest some few dollars in promoting your newly arrived product using Facebook ads. This method works all the time, most especially if you’re trying to sell an electronic device.

The post How to Make Insane Profit from Cheap EBay Auction appeared first on Importation Wealth - Mini Importation Business Blog.

About Importation Business

I have been in the importation business for a while now, it’s been over five (5) years; give or take. And with the level of my success with this business, I can boldly pronounce myself as an expert, because I have seen all that should be seen in the business, I have seen the good, the bad, the ugly and the depressing part of the business.

Reflecting on my early days in the business, I decided to come up with a list of things I wish experts told me about the business before venturing into it. If I had known most of these things earlier on, it would have been very easy to scale the ladder and make huge income from the business within a very short time.

Most of what I knew about the business was more on trial and error, and a little bit of faith in trying out various options. I kept trying until I mastered the whole process, I did not just stop at that, I refined the process to make it more profitable.

Five years later, I have decided to share these with my readers, and hopefully it would help you jump start your importation career and maximize your time and profit right from the inception.

It should be noted that the following list is a compilation of the 6 things I consider very important in the business, it’s not an holy grail as other experts might have a different opinion, but here is my unbiased opinion.

Number Game

Your success in the business depends solely on how good you are with numbers. The better you are in manipulating numbers, the more successful you will be. The main reason for this is not far-fetched; we are buying the goods in a currency (Dollar) different from ours (Naira). This is the main factor that determines how much you would sell your goods when it finally gets to Nigeria.

Many newbies choose a price for the good without considering the price of importation, the average selling price of the product in Nigeria and the profit margin after sales.

It’s one thing to know where to buy goods at cheap price online, to know how to ship it down to Nigeria, but it’s another thing entirely to understand the basis of sales and profit. I won’t just write about this without giving an insight into how to understand the “number games” of importation business.

Take for instance; you bought 10 pairs of sneakers from china at the rate of $10 per pairs, which would sum up into $100 for the 10 pairs of sneakers, let’s also assume the shipping cost for the sneakers is about $20 down to your front door in Nigeria, totaling $120 dollars in purchase, when you add the shipping cost.

Most newbies would probably convert $120 to naira (which is about #24000 as at the time of writing this post) and divide it by 10, to get the selling price of each shoes (which would be #2400 per shoes), so if you’re to make profit from your sales, you would have to add at least #200 to the selling price to make your own little profit, which will escalate the selling price of each sneakers to #2600 per shoe.

Now, let’s be realistic with our calculations, why would an average Nigerian buy a sneakers for #2600 when they can easily get the same type of sneakers in the local market for #1500 at most. So it becomes difficult to sell your items because you fail to consider the local selling price before importing the item, you fail to consider the dollar conversion rate and the shipping cost before you make your purchase online.

All these would affect your sales and would tie up your investment capital because it would take time and extra effort to sell of the items.

The question now is; how do you win the number game and master it as a newbie?

And my expert opinion is this: Learn the process from foot upward.

Learning the process from foot upward is simply re-engineering the process of importation business and making maximum profit from the process. As a seasoned importer, I have learn not to buy an item online because I think it is ridiculously cheap, I have mastered the game over time and I would share my buying process with you in few steps below:

1. I scout for items online, and make a list of items I am willing to purchase.
2. I search various stores and compare the price until I find the lowest price (This will be my assumed price)
3. Then I’ll head out to local market and do a simple window shopping to get an average price of the product in our local market.
4. I’ll then compare the price with that of the one I saw online, if the price difference is about 20-50% (take for instance the selling price online is $5 (#1000) and the selling price in the local market is #2000). I consider the item a good buy and I’ll proceed with the online purchase.
5. If the price difference is as low as 5% and I have enough capital to import about 100 pieces, then I would also consider it a good buy because the gain from shipping cost would cover the remaining profit margin.

In case you don’t understand my explanation of the number games, please ask questions using the comment box and I’ll try my best to explain the more.

Seasonal

This is really simple, if you import the wrong item at the wrong period of the year, you wouldn’t sell as much compared to importing them at the appropriate time.

I once wrote a post on how to make #60,000 per month from importing customized wrist band; the post is a classic example of how seasonal the importation business can be. As  a newbie, your first instinct is to find cheap item and buy them into the country, but expert instinct would always be “How fast would I be able to sell this item off?”, Because experts understands that tying up your investment capital is a bad idea when it comes to importation business, the idea is to buy at a cheap price and sell off as fast as possible then re-invest the capital.

Always compare your intended product with the current season; if the season is right and the product is cheap, then you should definitely go for it. If however one of the two factors does not agree with the other, then it’s not a good idea to invest your money in the purchase.

A brief idea of seasonal product would be the importation of wrist band during festive period, or importation of flat shoes in September/August when school resumes for another session.

Time

Most self-acclaimed experts wants to sell off their “info-material” as fast as possible, as as a result, they would go into any extent to sugar-coat the importation business. Many of them will tell you how fast and easy it is to make money from the business, without telling you the processes involved.

In their bid to make you get their eBook, often they would forget to ring it out loud, that just like any other business, both offline and online, it takes a considerable amount of time to understand the basis and it also take additional time before you make decent income from your effort.

In importation business, a larger percentage of your early days would be a learning period for you, it would be a period of establishing your customer base, and as you know already, it takes time you gain customers trust, but when you do, you would have them calling you for special purchase.

In my expert opinion, when you’re about to venture into the business, do so with the mindset of investing time, and don’t think you would make money almost instantly, No! It takes time.

PS: Speaking of E-Book, here on importationwealth.com I have a great resource on how to import product from China at a ridiculously cheap price, Most of our readers have good testimony about the guide and hopefully, you’ll also have the same testimony after reading it.

And of course, IT’S FREE!

So click here to download the eBook, or leave your email in the comment box and I’ll get it across to your email

Failure

In life, we’ve been wired to see failure as a very bad thing, as a matter of fact, a larger percentage of us see failure as a very bad thing, and they see it as the end of the world. Because of this general believe, most expert would choose not to tell you about the possibilities of failing as an importer, because they think it might change your perspective about the business, and discourage you from venturing into it.

On the contrary, failure should be a motivation rather than a discouragement. Learn to embrace failure and you would have no limit in life.

Relating this philosophy to the importation business, It’s important that you agree with me on the fact that, your early days would be threatened by failure, failure on various ends, failure on getting customers to buy your goods, failure on buying the right goods, failure on the number games, loss of money, and poor profit margin, the failure might be from any of the processes involved in the business.

MUST READ: 5 Attributes an Importer Must Posses.

But once you’re prepared for it, no matter how bad or huge the lapses are, it won’t discourage you, but rather it would motivate you to invest more time and effort in learning about the business.

There is a popular saying which goes thus: Successful people don’t see how many times they’ve failed, but rather they see how much better ways they can do things.

Shortcuts

In real word, the general believe is that there is no shortcut to doing things… In the importation business, there are shortcuts! As a matter of fact the more shortcuts you know, the higher your chances of making more profit.

It should be noted that, when I said shortcuts; I am not talking of dubious ways of doing things, on the contrary, I am talking of faster ways to get things done without invest much time and effort.

Most experts won’t tell you about this shortcut because it’s what makes them an expert, the shortcut is their key to success and they would go extra mile to ensure that you don’t know about them.

I would share a few shortcuts with you, and would allow you to discover others on your own.

You can outsource your online purchase and shipping to various companies and the focus on searching of product and selling only.

There are companies in China that would handle the purchase process for your when you send the link to them, they would do the purchase, repacked everything and send it to you in a box. This process would save you the headache that comes with the fluctuating exchange rate, and also give you more time to focus on other aspect of the business.

Most expert would never tell you about these companies, they would rather show you how to do it, which might be a good thing, but when stress yourself when there are companies that can make the process easier by paying them a token which you can spread on your selling price and still make reasonable profit.

I am working on a list of third party shipping companies, and would link them to this post when I am done with the compilation.

Selling and Buying

The success of this business depends on buying and selling process. The cheaper you buy, the higher your profit. The faster you sell, the larger your business becomes.

Most experts would show you where to buy most of these goods; some would not even tell you about secret stores where you can buy items at a cheaper price.

As with the selling, I have made a compilation of places where you can sell your items in Nigeria, read these posts

How to Make Money Selling Your Goods on Jumia

The Ultimate Guide to Selling Your Imported Goods on Konga Marketplace

How to promote imported goods online For Maximum Profit

In conclusion, it’s important to take note that my opinion in this post is not in any way a yardstick that determines whether you success or fail in your importation career, following them would however give you a head start and making this much easier for you as you progress.

The post 6 Things Experts Won’t Tell You About Importation Business appeared first on Importation Wealth - Mini Importation Business Blog.

Import From China

Buying goods cheaply from China and selling for huge profit here in Nigeria has proven to be a money maker. These days, almost everyone(Including the Grandma) seems to be involved in the business. who doesn’t want an easy and almost stress-free way to make money.

Then, as the mini importation business becomes more and more popular in Nigeria, there exists this problem of everybody importing and selling almost the same thing. Nigerians have been known to be less innovative or let’s say they don’t like re-inventing the wheel. They heard wrist-watch is a fast selling product in Nigeria,voila! they join the bandwagon, Neglecting other hot products that could have generated more profit for them in a short period of time.

To address this problem, I took time to compile list of 6 not so common but hot products you can buy cheaply from China and sell for a lot of profit here in Nigeria. I also include links of where you can buy it cheaply on 1688. Although, I once post a similar article on this blog some times ago you can check it out 5 Items You can Buy Cheaply and Sell Fast In Nigeria

1. DIGITAL PHOTO ALBUM

A digital photo album will allow you to enjoy and share every photo you have ever taken. You can get your visitor visitors entertained with digital format of your photos instead of browsing through that old school photo album.

You can get this product from this store on 1688 f0r 168 Yuan (N5,270) per piece. A quick look on Jumia shows the cheapest of this product selling for N20,000, now do the profit calculation yourself. Imagine what your profit would be selling just 10 pieces weekly. Lest I forget, the competition in this market is almost zero right now

2. LAPTOP SOLAR CHARGER

The number of people that owns a laptop and the epileptic nature of power supply in the country makes this a hot product to import from China.

You can buy from this store on 1688 for 88 Yuan (N2,760) per piece and sell for as high as N7,000. One good thing about the product is that, not too many people is selling the product right now

3. ALARM KEY FINDER

A time and life saving device. Imagine the look on your face when you are unable to find your car or house key. This device makes sure you don’t break a sweat locating your lost key.

You can get this product on 1688 for as low as 50 Yuan (N1,500) per piece and you can comfortably sell for as high as N5,000. You are in charge of your business, you can decide to sell less. But, whatever amount you decided to sell this product, you will comfortably make at least 200% ROI.

4. DIGITAL TYRE GUAGE

Monitors the amount of air pressure in a vehicle tyre.

You can get this product as low as 20 Yuan (N650) per piece on 1688 and sell for as high as N2,500

5. USB TV TUNER

Now, you can watch TV on your laptop and phone thanks to this amazing device. You can buy this product on 1688 for as low as 40 Yuan (N1,250) and sell for N4,000

6. HAIR TRIMMER

This product makes it possible to cut hair in the nostril and ears. Imagine people still patronizing local Mallams to the hair in their nose and ear, introduce this product to them and watch your bank account swell.

You can get this product on 1688 for as low as 10 Yuan (N310) per piece. You can easily sell this product for N1,000 or even more.

That is it! You can also brainstorm and come up with ideas of uncommon but hot products you can import from China and sell for massive profit here in Nigeria. The entire idea of buying cheap and selling fast is to find items that would appeal to Nigerians, with affordable price for average citizen, doing your research diligently would open up a huge client base for your importation business.

Having problem buying from the 1688 website, simply download the free e-book that shows you how to order from the site

The post 6 Hot Products You Can Import Now From China and Sell Fast In Nigeria appeared first on Importation Wealth - Mini Importation Business Blog.

Increase Your Konga and Jumia Sales

Konga and Jumia are the two most popular platforms to sell your imported goods quickly in Nigeria. Today, I’ll be talking about a simple yet highly effective tactic of selling your goods quickly on Konga and Jumia. This is simply known as product bundling.

So, what is product bundling?

Product sampling is basically taking a product you sell and offering it along with another product (which can either be related or not).

Quite easy right?

You may however be thinking, what’s the point after all if a customer wants to buy two items, they can easily do that without thinking about buying the two or more items bundled together.

Well, let me disappoint you…. You are wrong!

I will prove this by pointing out few benefits of product bundling…

1. INCREASE IN ORDER VALUE

Basically, there are two ways of making money as a trader – get more customers or sell more of your products to existing ones. People generally focus their attention on the first option forgetting that encouraging your existing customers to buy your product bundles rather than single item, gives you the opportunity of selling more.

2. REDUCTION IN SHIPPING COST

According to survey, shipping cost is one of the major reasons customers abandon their shopping cart without completing their order. Offering product bundles on Jumia and Konga drastically reduces the shipping cost that your customer would have incurred if ordering the products individually.

3. SHOPPING CONVENIENCE BRINGS ABOUT HIGHER CONVERSION

Well packaged and worthwhile bundles make shopping easy for your customer and this will in turn lead to higher conversion rate for your products

Let’s take a look at this illustration for better understanding, say for example, I’m a parent looking for party hats for my child’s birthday; I head to Konga and search for BEN 10 Party Hats (Kiddies loves this cartoon character) and the first five results are exactly what I searched for, packs of BEN 10 Children’s Party Hats. Then as I was about clicking on one of the listings to place my order, I noticed another listing that offers BEN 10 themed birthday set including Hats, Cups, Balloons, Plates, Wall decoration, Facial paintings etc.

Fantastic right?

With this, I don’t have to start searching and ordering for each products one after the other. The seller has already saved me time, giving me a shopping convenience every shopper craves.

Although, the price might be different and may be not as cheap as ordering from the cheapest seller for each but it’s hard to compare and I’d be happy to pay a little extra Naira in any case – Definitely, I’d go ahead and place the order.

This then brings me to the next big benefit

4. CREATE A UNIQUE OFFER – It’s hard to compare bundle prices

I get a lot of messages from my blog readers complaining about how had it’s becoming to sell successfully on Konga and Jumia due to increase in competition, except you are selling at rock bottom price, BUT, that’s not true. It’s total RUBBISH!

If you still compete on price, it means you are not selling smart.

Offer bundles to your customers and remove the element of pricing as it’s difficult for shoppers to compare bundle prices.

Going back to the BEN 10 party hats example, for me to know the true value of the bundle, I would have to search for each item individually and then add it all up to get the value. Of course, you know that it’s very unlikely I do that. Nine out of every ten shoppers won’t do that either.

The only case a customer can decide to cost the items of the bundle package is if the price seems outrageous. Customers are not stupid, they may be willing to pay a little extra amount for the convenience you product bundle affords them; you can’t charge double or triple of what the items are worth.

Apart from this, a customer really have no reason summing up the total cost for the items, even if they do you will still win because of the reduction in shipping cost. Afterall, when searching for all the products individually, shipping will be added to the cost of each item, whereas for you and your bundle, it spreads out between them.

I believe you are getting excited now. If you really are, that’s fantastic. You are on track!

At this point, I believe I have explained as much as possible for you to understand fully well the act of product bundling.

But, Hold On!

It’s not time for me to close this write-up yet. I don’t want to leave you trying to figure out what works and what doesn’t. I will give you some real life examples just to give you idea.

Alright, let’s start with simplest of products bundling…

OFFER MULTIPLES OF THE SAME PRODUCT

A lot of people are aware of this, yet it surprises me how they are still not taking advantage.

This works well for stationery items, Household Items (everyday Goods). For example, you can easily bundle A4 paper together; it can be bundled together in multiples of 10 or 20. This will come in handy for people that consume a lot of paper

ADDING ACCESSORIES OR LOW VALUE COMPLEMENTS

Big companies have been using this strategy for years. If you are selling a PlayStation 4 console, it won’t be a bad idea to bundle it with games to go with it. You may also want to add additional controller, PlayStation camera etc.

Here are more examples to get your mind tickling:

• Sell an exercise bike – Offer an attachable water bottle or wireless headphones
• Sell Female Shoes – Offer Matching Wrist watches
• Sell T-shirts – Bundle with smart jeans and/or face caps
• Sell a Tablet – Offer a keyboard, a case or dock

I hope you get the idea?

Coming up with bundles should not be a hard task if you have been selling in the same product line for some time. Afterall, nobody can know your market better than you do. Peruse Konga and Jumia, check which items are being frequently bought together and offer them as bundle. It’s as simple

At this point, I will have to drop my pen. If you have any question about this topic, please feel free to post below in the comment section and I’ll take my time to answer them personally.

Till next time.

All the best

The post How To Increase Your Konga and Jumia Sales with Product Bundling appeared first on Importation Wealth - Mini Importation Business Blog.

Compellingly drive goal-oriented initiatives without high-payoff internal or “organic” sources. Objectively provide access to cooperative human capital after highly efficient value. Credibly administrate multimedia based applications with cooperative niche markets. Seamlessly evolve focused models for state of the art quality vectors. Assertively harness long-term high-impact catalysts for change with.

The post Post Example 1 appeared first on Importation Wealth - Mini Importation Business Blog.

Proactively foster superior growth strategies and adaptive users. Conveniently deploy timely strategic theme areas vis-a-vis B2B scenarios. Progressively cultivate viral partnerships after state of the art e-commerce. Proactively synergize sticky best practices without ethical e-tailers. Quickly visualize customized data and synergistic infrastructures.

The post Post Example 2 appeared first on Importation Wealth - Mini Importation Business Blog.

Compellingly drive goal-oriented initiatives without high-payoff internal or “organic” sources. Objectively provide access to cooperative human capital after highly efficient value. Credibly administrate multimedia based applications with cooperative niche markets. Seamlessly evolve focused models for state of the art quality vectors. Assertively harness long-term high-impact catalysts for change with.

The post Post Example 3 appeared first on Importation Wealth - Mini Importation Business Blog.

Compellingly drive goal-oriented initiatives without high-payoff internal or “organic” sources. Objectively provide access to cooperative human capital after highly efficient value. Credibly administrate multimedia based applications with cooperative niche markets. Seamlessly evolve focused models for state of the art quality vectors. Assertively harness long-term high-impact catalysts for change with.

The post Post Example 4 appeared first on Importation Wealth - Mini Importation Business Blog.

Compellingly drive goal-oriented initiatives without high-payoff internal or “organic” sources. Objectively provide access to cooperative human capital after highly efficient value. Credibly administrate multimedia based applications with cooperative niche markets. Seamlessly evolve focused models for state of the art quality vectors. Assertively harness long-term high-impact catalysts for change with.

The post Post Example 5 appeared first on Importation Wealth - Mini Importation Business Blog.

Fake Chinese Suppliers

The typical fake supplier in China registers a company, draws up documents under some peasant’s name, sign up with Alibaba, creates a profile page with a professional look and hires a few English speaking sales people (unaware their employer is a scam). When all is set, as soon as he receives around 30-50% deposit from a few clients he disappears.

Here are five quick ways to check the genuineness of that supplier you are about sending money:

1. SUPPLIER’S BUSINESS LICENSE and EXPORT LICENSE

The export license and supplier’s business license are two vital and important documents you must request for. The supplier should provide you these and the registration number which can be confirmed by sending a mail to the State Administration for Industry & Commerce of the people’s republic of China at dfa@saic.gov.cn. The agency will confirm the authenticity of the documents.

2. GOOGLE SEARCH

You can easily search for the supplier’s information and his email address on Google. This simple search would reveal alot of information including reviews about the supplier.

3. PAYMENT METHODS

Genuine suppliers register their bank account with the company name, in a situation whereby the supplier sent you a private person account details, beware! something is not right.

MUST READ: Is Alibaba Really A Scam

4. THE SUPPLIERS WEBSITE DETAILS

Most of the suppliers including the scammers have their own website. Conduct a check on the website details , first check the Website WHOIS and registration date. If its recently registered, beware it might be a scam.

Also, check the phone number, fax and address provided on their website on Google. You can also use Google Drag and Drop to check if the Logo, Factory and product pictures are gotten somewhere else or they are truly theirs

MUST READ: All You Need To Know About Importing From China.

5. SAMPLES

Fake suppliers in China usually find all kinds of excuses to avoid to send a sample. If their answers are slow regarding this topic, it is either a scammer or a middleman.

The post 5 Simple But Powerful Ways to Identify Fake Chinese Suppliers appeared first on Importation Wealth - Mini Importation Business Blog.

• When an order is updated to ‘Shipped’, the value of the item less commission is updated to ‘Balance Pending’. This order value remains here until the order is updated to delivered, cancelled or placed on arbitration.
• When an order is updated to ‘Delivered’, the value of the item less commission moves from Balance Pending to ‘Escrow’ (Balance Payable). This value remains in Escrow until the return policy elapses( return policy can either be 0 days or 7 days).

• Once your return policy elapses, the value of the item less commission moves from your escrow to your Konga Wallet. If you do not offer a return policy, funds are placed in escrow for 72 hours then moved to your wallet after 72 hours.

• Fundscredited into your wallet remain there until a payout is initiated by you.

• All Payout requests are processed within 72 hours.

MUST READ: How To Increase Your Sales On Konga.

The post Selling on Konga Marketplace: Understanding the Payment Process appeared first on Importation Wealth - Mini Importation Business Blog.

Selling Imported Goods On Konga

Konga is one of the easiest medium to sell imported goods fast. Here is the 10 simple steps involved in selling goods on Konga:

STEP 1

To start selling on Konga, Simply visit www.shq.konga.com. Click on the “Register” button and fill out the sign up form.

Make sure you fill all the box correctly.

STEP 2

Check your email for the confirmation email that will be sent to you. Click on the link in the mail to verify your account.

STEP 3

You will get a free storefront and dedicated  support. Konga will assign you a dedicated account manager that will ensure the smooth day-to-day running of your store.

STEP 4

Login to your seller account. This is where you manage everything about your store.

Your account should like the screenshot above. Make sure you click around to get a hold of how things work.

MUST READ: Selling on Konga Marketplace: Understanding the Payment Process

STEP 5

Upload your products to Konga. To do this simply click on the “Sell an Item” button. You will be directed to the listing page where you will be required to fill all the necessary information about your product.

Make sure you list your product under the right category. A female shoe will be under Fashion, then women’s shoes, then the type of shoe it is (Ballerina or wedge or anything that it is).

STEP 6

This is the step that it start getting interesting because nothing feels good more than getting an order for your goods. customer order for your goods on Konga.

MUST READ: How A Nairalander Made Over #45,00 in 2 Days.

STEP 7

Konga verifies the order before notifying you through Email and SMS

STEP 8

You will be required to login to your account and accept the order and process it

STEP 9

The processed order shall be taken to any Konga Drop-off location nearest to you or you deliver it yourself. If you are using Konga Drop-off service all you need is your SellerHQ ID and the print out of the order.

STEP 10

The goods get delivered and Konga makes the money available on your account. Then you can withdraw the money to your bank account.

The post 10 Simple Steps to Selling Imported Goods on Konga appeared first on Importation Wealth - Mini Importation Business Blog.

Millionaire Material.

Most of the millionaires in the world aren’t celebrities living in massive estates.  In fact, you could be living next to a millionaire and you might not even know it.

As it turns out, there are quite a few traits that millionaires share – and it isn’t just what they have in their bank account.

In this post, we’ll take a look at the traits that millionaires have in common, backed by research.

Try incorporating some of these things into your daily life, and who knows – maybe you’re a millionaire in the making.

MUST READ: 5 Attributes Of An Importer.

1. Millionaires Are Self Employed Entrepreneurs

Think it’s risky to start something on your own?  Millionaires think the opposite – they think it’s risky to work for someone else.

There’s a certain drive, hustle and itch that these entrepreneurs just have to scratch.  They can’t work for someone else – not because they don’t want to, but because they always need something to do on their own.

2. They Dream Big and Have a Strong Work Ethic

Millionaires see the possibilities beyond just the immediate future – they look to scale.  Nothing holds them back.  Obstacles and setbacks are just potential learning experiences.

They have big dreams, and truly believe that their dreams will come true, even if it means heading into uncharted territory.

With that in mind, achieving those dreams takes some hard work.  And a strong work ethic is required.

3. They Choose Their Careers Strategically

The majority don’t tackle a business or product they’re passionate about.  Usually, they’ll start a career where they know they can make money by jumping on a trend, or seeing a gap in a niche market.  If that trend is something they’re passionate about – then it just makes things even easier. Saying the important trait of an importer

4. Millionaires Have a High Tolerance of Risk and Failure

Failure is a constant feedback loop.  Every time you fail, you’ll learn something.

To be a market leader in any business, you have to be willing to take big risks that might fail.  You have to be able to get back up after getting knocked down, and use what you’ve learned to grow and keep going forward.

Big bets mean big failures, but big bets can mean big successes.

5. They Are Self-Disciplined and Delay Gratification 

Self-discipline is an extremely important and common trait among millionaires and successful entrepreneurs.

By being self-disciplined, millionaires are able to delay gratification in the short term – they’re able to keep their long-term goals of becoming financially independent and successful.

6. They Have Inherent Sales and Marketing Skills

Although they might not think of it, all millionaires have some sort of inherent sales and marketing skills.  It’s just who they are as a person.  It comes as second nature to them.

7. They Don’t Spend Frivolously

The majority of millionaires today aren’t popping thousand dollar bottles of champagne, buying luxury cars or million dollar homes.

In fact, millionaires find great value in managing their money and planning for a successful, financially independent future.

Conclusion

Now that we’ve taken a look at some of the things millionaires have in common, it’s up to you to take action and start planning to make your first million.

What will your first step be?  Let us know in the comments below!

The post Are You Millionaire Material? 7 Things Millionaires Have in Common appeared first on Importation Wealth - Mini Importation Business Blog.

Online Importation.

Online importation business is over…

You can’t make money from it as it were back then…

As a matter of fact, it’s impossible to invest in it and make your capital back, talk less of making any profit.

Maybe it’s time to focus my energy on something else…

If the above assumption is your perspective, then am sorry to burst your bubble!

You’re wrong!

It’s still very much possible to make money from the importation business, as a matter of fact, now is one of the best time to make huge profit from the business.

The reason for this is not far-fetched:

Everybody knows that a dollar is currently being sold for about #200 in the official market, so it is expected that the price of imported good would be expensive, which means when you tell customer about price inflation, they would have little or no reason to challenge the price changes.

The truth here is that, the price did not really change from your end, but rather, you want to enjoy the tide of the current issue and make more money for yourself.

So in this post, I’ll show you clear-cut, time proven ways of making money as an online importer, despite the poor economy of the country at this point in time.

1. Don’t Stock Goods!

It’s a good idea to buy and stock items when the exchange rate was fair to some extent. You can buy in bulk from china and keep them in your store to sell off bit by bit. But it is not a good idea right now; as a matter of fact you should avoid stocking items.

If you’ve made a name for yourself in the business, I would advise that you create a request list and make a list of items needed by your customer, tell them the price before you get the item and order it specifically for them. The good thing about importation business is that, most goods we import and sell are not needed on emergency basis. So you can always promise a customer to check back in a week or two while you place the order specifically for that customer.

The main reason why I said you should avoid stocking items is because of the unstable rate of the currency, it might crash anytime and that would affect your investment capital because you might have gotten the item at a relatively high price.

2. Buy PayPal In Black Market.

This is a bit complex, but I will try my best to explain in a very simple way.

Recently, PayPal added Nigeria to the list of countries where they operate, however, we are still unable to receive payment with Nigeria PayPal account, but you’re allowed to make payment online with the account.

The idea of buying PayPal money in black market is very simple, all you need to do is connect with bloggers, affiliate marketers, freelance writers and other online business workers that receive PayPal payment from their clients. Normally, a larger percentage of them cannot withdraw money from PayPal because their account is either not verified or it’s not allowed to receive payment (Nigeria PayPal).

On your own part, you would go a bit extra mile in getting a verified PayPal account, it would cost less than $10 in setting up a verified PayPal account that would be able to receive and make payment anywhere in the world.

There are people that offer the service of creating and verifying a PayPal account on your behalf, they would charge you certain amount of money and your account will be ready in about two weeks. If you want to do it yourself, it’s very easy and simple, provided you follow the guideline religiously.

The first thing is to create a US Paypal account (using VPN IP to access PayPal website) after creating the account, you can head over to Payooner.com (It’s an online banking website that will create a verified US bank account for you) follow the procedure on the website and apply for a US Bank account,. Once this is done, you can then use the US bank account from Payoneer to verify your US PayPal Account.

The benefit of this method over hiring somebody to create the verified paypal account for you is that, Payonner will send you a credit card which you can actually use to withdraw your money anywhere in the world!

This post is not about creating a verified paypal account, so the information might not very explicit, but I might write a post on the procedure in the nearest future, if time permits.

Now, let’s see how you can make money from the verified paypal account and use the money to boost your online importation capital.

Remember I said earlier that most bloggers and freelance writers are always looking for somebody to buy off their PayPal Money, they are every where; on nairaland, facebook e.t.c. If you look in the right places you would make contact with a handful of them that would be able provide a steady supply of PayPal Money when needed.

Now, here is that catch…

PayPal Dollar is sold at a cheaper price in the black market by bloggers and freelancers, mainly because they need money quickly, or they don’t want to pass through the stress of verifying and withdrawing the fund in Nigeria. You can take this to your advantage, by buying off the dollar at a cheap price and using it to make purchase at the normal exchange rate.

As as the time of compiling this post, the current black market price for $1 paypal fund ranges between #170-#180 if the seller is selling less than a $100, but it can be up to #185 per dollar is the seller is selling above $100 at a time, either ways, it’s still to your advantage.

Certain precautions should be taken when venturing into black market purchase of PayPal, you would want to refrain from buying PayPal from fraudster, and also you want to ensure that the money is transferred into your account before making payment.

As far as your PayPal account is concerned, you should also make sure that you access it with VPN and US IP to avoid being banned in the long run. To be on the safer side, refrain from accumulating funds in the account.

3. Buy From Cheap Websites.

If your main purchasing websites is aliexpress, then I am sorry to inform you that you’re not yet a seasoned online importer.

There are various websites where you can buy from Asian market at a relatively cheap price. Check through this websites to get the best deal before making any purchase. Put every safety precaution in place and make the best of all deals.

Example of websites where you can make cheaper purchase from china is 1688.com, I wrote a free comprehensive ebook on how to make purchase from this website at maximum profit, click here to download the e-book for free

4. Search, Negotiate and Negotiate the more.

If you’ve ever been to computer village before, you will understand what am about to say very well.

Let me share a little secret with you before I proceed. On retail websites like Konga, or Jumia or Kaymu e.t.c, a retailer can list the same items more than once, and put different price on each listing. Take note that the listing will have the same description and configuration, the price you would buy the item depends on the link you eventually stumbled on.

The lesson here is to make sure you conduct a very wide search before you decide on where to purchase the item, take your time to search through the website, compare the price with what other retailers are offering and choose the best price.

After deciding on where to make the purchase, you can then begin a real time negotiation with the seller.

One of the methods I have used in time past is to tell the retailer that I have a long term goal of importing hundreds or thousands of the product on weekly basis, however, I would like to test the market over here and see how the business moves before I begin importation on a larger scale, so he should consider me a long term partner and reduce the price because I would eventually come back to make larger purchase. This method works all the time and you would be surprised at how much the price can drop mainly because of that

In conclusion, it’s important to take note that there is opportunity everywhere, you can still make money from the online importation business provided you follow the right guideline and avoid the common errors.

All you have to do is study the market,  know your audience and sell as appropriate.

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