10 Questions to ask yourself about starting your own home-based import/export service

By Jennifer Henczel, Import Export Coach

Do you have a great import export business idea but don't know where to start? You've come to the right place. These reports will help you to learn the basics of international trade.

Please note that this ezine was formerly called Eye on the World Ezine, of which you are a subscriber. As requested by our subscribers, we have packed it full with even more helpful information that you can use to start your own import export business, or expand your existing business.

Over $100 billion dollars worth of goods are exported from the U.S. every year. Most are hi-tech items or food. In other words, products that foreign countries have difficulty producing for themselves. So there is also a tremendous earnings potential in exporting. However, overall it's probably easier for a beginner to start with importing foreign goods.

Anyone can easily start an import/export business. But before you rush blindly head-on, there are a few questions you should answer:

1. Do you want to import, export or both?
2. Do you have any knowledge of international trade, or are you wiling to learn more about import and export?
3. Do you want to start full time or part time? Generally, if you need to raise funds for your venture, it's best to start part time while maintaining your full-time job.
4. Have you identified specific products to import or export? You should select products that you understand and enjoy.
5. Do you know who are your target customers -- individuals, wholesalers, or retailers?
6. Do you have knowledge of the industry you will be pursuing?
7. Do you known exactly how much money can you afford to invest?
8. Do you want to work as an agent, broker, retailer, or distributor?
9. Do you know a good lawyer and accountant who can help you with the legal details of your venture?
10. Can you communicate well? If not, you'll need to learn good communications and writing skills.

My recommendation: Learn as much as you can about import and export by researching any question that comes to mind. We've created this site for entrepreneurs just like you! So, read, watch, listen and take in as much as you can. There are more useful tips, tools, information, links, and articles to come because I want to help you with your plans to expand your business!

In closing, reflect on these words said by Henry Ford:

"Whether you think that you can, or that you can't, you are usually right."