Importing from China?
In 2017, China exported $2.41 trillion worth of goods.
Many businesses and entrepreneurs have turned their eyes to China exports.
However, many wish they knew about the pitfalls of importing from China and how to avoid them.
Ever thought of a cool product idea?
Something so cool and revolutionary it could make you a million dollars?
For most people when they start thinking of the logistics of making their idea a reality, such as creating a prototype, making a business model, raising money, building a website, marketing, copyright, manufacturing, importing, distribution… the mind starts to boggle!
WHAT IF – What if it doesn’t even work? What if no one likes it? What if you rack up a bunch of debt all for an unsuccessful idea?
I would say for most, all of this doubt and uncertainty means not going further than the idea itself.
BUT, what if there was a way to see if people did like this idea?
Better yet, they’re willing to pay in advance for you to make it and send it to them?
I’m talking of course about crowdfunding.
Take The World’s Best Travel Jacket for example.
Started by Yoganshi & Hiral a couple from America. The two were frequent travellers. They never wanted to fly without a neck pillow, but would often forget to pack one, meaning they were constantly purchasing new ones at the airport.
Then the idea for the world’s best travel jacket was born.
Why not have a travel jacket with neck pillow built in? Better yet, have an eye-mask, gloves, and a bunch of pockets designed for carrying blankets, passports, phones and iPads?
I’ll let their promotional video explain the rest…
I’m not sure the couple would have believed this at the time, after posting this video and asking for $20,000 from users of Kickstarter the two raised 9 million dollars!
Now, what do you do at this point?
You’ve got 44,949 orders for a jacket and all you’ve got is a few designs and a prototype.
What are you going to do next? Or a better question might be where are you going to go next? Why not the largest clothing manufacturer in the world?
Now not surprisingly Yoganshi and Hiral didn’t step off the plane in Beijing and ask the taxi driver to take them to the nearest clothing manufacturer. Getting someone to manufacture your product involves a lot of research, understanding of the business culture, connections with manufacturers and knowing the language certainly wouldn’t hurt.
Don’t believe me? Check out this documentary China Or Bust as three businessmen put their entire businesses in the hands of Chinese manufacturers.
I don’t know about you but I find that documentary stressful to watch. Anyone who imports goods from China will tell you to be aware of the risks involved.
What can you do to be ahead of the curve when it comes to exporting from China?
Business relationships in China are very closely tied to personal relationships.
- Firstly, if you’re looking to start a relationship with a Chinese manufacturer, you’ve got to come to China.
- Secondly, know some mandarin. I’m not suggesting learning the entire language right before you start a new business venture.
I’m saying learn enough to gain the respect of your new business partner. By showing them you’ve put some time and effort into learning the language, you’ll earn their respect and your future business dealings are sure to benefit.
Fortunately, you’re on a Mandarin language site right now! Check out our business Chinese classes for more information.
The story for the worlds best travel jacket didn’t end there.
Yoganshi & Hiral started a company called baubax.com. You can find their travel jacket on sale now as well as their new product The World’s Best Travel Pants exclusively available on Kickstarter.com. Offer ends 3rd of May 2019.
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