Starting your own online business could be scary, difficult, frustrating and most importantly painful. But, if you follow the right tips and guide, you’ll able to make money from by acquiring products from China suppliers. You must have hundreds of questions racing around your head – “what product should i sell?” “How do i find a trustworthy supplier?” “How to negotiate with supplier?”
A guy known as Faheem has everything you need to know about online business. He shared on his Twitter page, tips for starting a small business venture that accumulated more than 5,000 retweets and almost 10,000 likes.
He has been living in Guangzhou, China, best known for its wholesale markets, for more than 12 years and has been running his own trading company, Hijrahtrading.com.
Here’s his valuable tips:
1. It’s not nececssary to go to China
According to Faheem, it’s not compulsory for an entrepreneur who wish to start their first business to go to China to purchase the products. many misuderstand this and they thought that they must go to China. This is absolutely wrong and going to China costs you arounf RM2,000 which is such a waste. You can use it to support your business operation.
2. Find local suppliers
Apart from getting a supplier from China, why don’t you find local suppliers or sellers? Faheem said he learned this tips from other’s experience. In fact, there are people who able to make RM 1mil sales by geting suppliers from Malaysia. The pros, easy to change the products in case something happens and shorter time for shipping.
3. Find the potential market
In order to start a business, you need to search for the potential market. Then, you decide on what kind of products you want to sell. It always start with problem and followed by solution. You can join any FB groups or in Twitter to observe what kind of problem they’ve encountered and how to solve it.
4. Get to know what’s the problem = solution
Learn from your daily life. Problem equals to demand and if you’re able to solve their problem, you can make money from it. So learn to see what problems people are experiencing in their daiy lives.
5. Start with small products
For a start, it’s best to start with a product that is less than 2kg. The reason why is, you can save on shipping and warehouse cost. So start your business by selling small and lightweight product. Find products that people use every day.
6. Don’t be greedy
Many people want to start a big business. Keep in mind that you’re nobody and you have to work on getting the potential market. The common scenario is everyone wants to founders or ambassadors without knowing that things that we use every day have the potential to generate money. Rather than set your aim to be a founder, why don’t you find a potential everyday’s product to sell?
8. Sell something that you’ll use daily
Everyone has smartphones, but it’s tricky to sell them because the market is big. But, you can sell phone cases and cables – light, cheap and easy to sell. Don’t focus on fashion market because the trend is changing really fast.
9. Don’t sell seasonal items
Don’t choose products that are only in high demand seasonal. For instance, Christmas tree, Baju Melayu buttons, vape, pod, Yeezy shoes and many more. Besides, don’t sell fragile and products that require high technical skills such as iPhones.
But most importantly,
Faheem who has experience in getting supplies from China advise that as an entrepreneur, you need to have a growth mindset. Keep growing while doing business. Business is not about getting money but more on making a positive impact on society – improve employment opportunities and grow together.