• Elksourcing:A Cost Down Guide for Product Sourcing in China

    Cost down your product sourcing in China is half success of your importing business. As a first-time importer, you need to test your market first with smallest capital at beginning, and put your investment in more important things: marketing & sales. Below is a cost down guide summarized from my experiences of China sourcing business. #1 Start with sourcing one product at a time You can easily find many successfully proven cases that just start with one or handful products, and per the response of the market to decide the next step afterwards. Expanding a product line needs a single product to be proven at the beginning. If you plan to start with a plenty of products, it will be required a lot of time and money to invest. That’s a hard and difficult path to go as a first-time importer or startup. Investing in one product is a good option to…

  • Elksourcing:Don’t Make Price the Primary Factor for China Sourcing

    Sourcing is already cost-effective; nonetheless, some companies presume that the lowest rate is going to be the most profitable. However, it isn’t always wise to make such assumption. When considering quotations and proposals from different manufacturers, don’t make price the primary factor. While price is obviously important and one the main reasons for purchasing from China in the first place, look instead for companies that are well established and focused on quality and serving other companies like yours. To source goods directly from China, a company must learn a set of basic capabilities. These include ensuring quality control (e.g., evaluating a supplier’s ability to meet requirements), testing preproduction prototypes or samples, and assessing packing procedures. Logistics activities such as satisfying customs regulations and arranging shipments are important as well.Although the internet has changed the way we source products, the aptitude, creativity and hard work of people still make the difference between…

  • Elksourcing:Common Mistakes Made by Importers

    During my experience of helping business people sourcing from China, I’ve seen many mistakes that importers made when sourcing from China. Below are 8 most common mistakes: 1. Using PayPal Almost all beginner guides will tell you, only choose suppliers who accept PayPal. We say otherwise. There are a couple issues when it comes to using PayPal. You’re required to pay service fees. This can end up costing a ton and ruining your profit margins.  A lot of guides will explain, PayPal is great for that added piece of insurance. The problem with this, if you’re using PayPal as a piece of mind to know your supplier can’t run away with your money, then you have not been vigilant enough with your sourcing. You should never choose a supplier unless you are absolutely confident they are capable of performing to your qualifications. International Trade is an industry that is older than…

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