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How to start an Importation Business in Nigeria Without Traveling Out and less than 100k

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Importation business

This information provide are basically for people Nigeria Importation business in

Nigeria has long been considered primarily to be the career of rich businessmen.

Unfortunately lots of the so called businessmen do not even use their own money to do all these businesses a lot of times.

Just because there are business orientated, what they do primarily is to go to the

banks and use their Agbada and Babariga to impress the bankers with collaterals and then pack all the money

While you struggle to make to finance, to further your own importing business.

That why Aliko Dangote stated why you should start a business
Importation

WHY IMPORTING BUSINESS?

Importing business in Nigeria thrive on the fact that the economy in Nigeria is not a productive type.

A lot of companies and industries that
should be producing a lot of things are

either dead or not efficient in their production and hence a lot of Nigerians

usually depend on imported materials to enjoy themselves or to access quality products.

Another reason why importation business thrive in Nigeria is due to the fact that

most made in Nigerian goods are of low quality and don’t usually possess the

required quality compared to the same product produced outside the country.

THE ESSENTIALS

These are the things that you have to put into consideration before starting your import business.

1. CASH

One of the essential things you need to consider before starting your importing business is the CASH available to you
for the business.

I will clearly advice on the kind of business you can go into with some range of cash in view.

2. THE NEED AROUND

Another important thing you have to consider before starting your import oration business is the demand for what you want to import or the need around you.

It will be a total waste of time and resources if you invest your money toimport products that are not really in demand around you.

For example, if you are a student in any university around, you will agree with me that Clothes, Ladies bags, Laptops will sell faster than vehicle accessories on campus.

3. SOURCE OF YOUR PRODUCT

Source of product in importation

This is another vital thing that has to be put into consideration when considering starting your import business.

After you must have considered the cash
available to you and the product you want to buy,

the next thing is to consider the source/country where those things will be bought.

This will help you to consider the cost of shipping from that country,cost of clearing of your products,

and the acceptability of the source of your products to your customers.

4. COST OF CLEARING

This is another major thing that has to be considered before starting an importation business.

Cost of clearing is the money paid to the clearing agent that clears the goods through customs.

It differs from product to products. Some products are classified as contraband.

These are products that the Nigerian government does not actually want to

encourage their importation so that local producers too can make money.

So what the government usually do to discourage the importation of such product is to increase the custom duties that will be paid on such products.

For example,clothes importation is classified as contraband for now.

It does not necessarily mean you cannot
import clothes at all but you will have to pay more for clearing.

Electronics are not contraband and so what you pay on it as custom duties is minimal compared to clothes.

5. CONTACT IN THE COUTRY OF SOURCE

This is a vital thing to consider. Since the purpose of this manual is to show you

how to start an importing business without necessarily traveling to the country of source,

it is expedient to consider the contact person in the country of source.

Infact this is very essential because it is not just having somebody there that matters too much but how reliable is the contact.

STARTING AN IMPORTING BUSINESS WITH LESS THAN A HUNDRED THOUSAND Naira IN NIGERIA.

This are for people who fall within this cash range and hence the heading.

Meanwhile other people with far more capital at their disposal will surely have

better leverage if they can follow all that is written here too.

Having considered all the above listed essentials,

the following products /goods will be very good for importing business:

  • Laptop computers
  • Notebook computers
  • External DVD drive
  • Flash drive
  • Ipods.
  • Digital Camerals
  • Mobile Phones
  • Jeans
  • Designer
  • Shirts (T.M,NEXT,e.t.c)
  • Ladies bags
  • Shoes
  • Children clothes
  • Designer Suites(Armani,Versacea,D&G,BOSS,e.t.c)
  • Ties,e.t.c.

The list is endless! Theses are just some basic ones you can
consider.

WHAT NEXT?

Once you have decided on what you want to buy,

the next thing is for you to decide on the country of source.

I will personally give you an advice here.

If you won’t mind, I will recommend a
Country for you, CHINA!
Yes, China!

You know why?

Some people sometimes will tell you that China products are not good.

We’ll that not true the major reason why I am recommending China is because their products are still Cheaper,

compared to what you have in America and Europe even with the same quality.

The reason for this is solely because of the cheap labor in China.

PRACTICAL GUIDE TO STARTING YOUR IMPORTING BUSINESS

The following are the practical steps to take in starting your importing business after you must have considered the factors stated above.

1. The Contact.

This is the starting point after you have raised the capital for the business.

2 Clearing Agent

This is the second most important personality in this line of
business.

Whenever your goods lands in Nigeria, he’ll give you a call to come and clear your product.

What you pay for as clearing charges is the cost of shipping to Nigeria which is a factor of the weight of the goods you’re
importing.

The agent I use whose address is shown above charges $5/kg.

This means if the overall weight of your goods is 30kg, then you are going to pay $150 as shipping charges.

The clearing fee is the government charges for your goods.

clearing he agent does the clearing for you at the port and then charges you for the clearing.

3. Fund Transfer Agent.

This is another category of agent you can use to send money to your contact if you wish.

I use the phrase “if you wish “because it
is optional.

If you have a domiciliary account in any of the banks, you can decide to use it to send money to your contact.

The advantage of the fund transfer agent over the use of the domiciliary account is
that when you use the fund agent,

your contact will get the money transfer within 24 hours which is not possible with a domiciliary account transaction.

Also using a fund agent is cheaper compared to a domiciliary account transaction.

WHO ARE YOUR TARGET AUDIENCE?

The target audience means your potential customers.

What you decide to import and sell will determine to a large extent your
audience.

For example if you go into men and ladies suit,

then I can bet it with you that the best set of customers you should target are

bankers and other set of individual who work in cooperate offices.

Selling suits to students and Doctors will not be a good venture.

If you import items like phones, ipods, iphones and laptop computers,

then I will advice that you get close to the university environment.

WHY?

Because the bulk of your audience will be
students and the academia.

It is therefore very important that you consider the audience you want to sell to and determine their need before you start
importing items.

It is of no use to import items that are not needed by your audience.

It’ll be just a futile exercise.

ITEMS TO CONSIDER WHEN STARTING AN IMPORTATION BUSINESS

Personally, I will advice that you consider the following items as products of choice,

when starting your importing business with less than a One Hundred Thousand Naira only.

This is necessary so that you’ll be able to maximize profit on your limited start-up capital.

For example if you have just Seventy
Thousand Naira, and you’re considering going into suit importing or buying laptops.

With that amount of money, you can be sure
of making nothing less than a 100% profit

going into the suit business than to go into importing laptops where you’re not
guaranteed more than 25% as profit!

Consider the following items.

a. Clothes
b. Suits
c. Phones
d. Ladies Bags
e. Ladies Sandals
f. Male Sandals
g. Hair Clippers
h. Shoes
i. Belts
j. Computer Accessories
k. Flash Drives
l. Mobile Phone Wrist watches
m.Ipods,Iphones e.t.c

HOW TO MARKET YOUR PRODUCT AND SELL WITHOUT DELAY

Starting an importing business without learning the rudiments OF selling will just be a mere waste of time and resources.

I’m going to share with you some of the effective APPROACH used and still using with great results.

The following approaches are effective based on individual circumstances:

1. OUTFIT/SHOP STRATEGY

This is the commonest strategy used by most marketers but not necessarily the best approach.

This strategy involves using a location which may either be rented or personal.

It has an advantage that people will easily know what you do and sell and

also that you can easily be located via your shop address.

It has a disadvantage of extra cost of renting the shop and Also maintaining it.

It is not an ideal approach for those who are starting small.

2. MOBILE APPROACH

This is an approach suitable for those who have a day job they are doing and also work on the importing business part-time.

It also requires that the marketer is mobile (have a car).

This approach is mobile in the sense that whenever the marketer goes for his or her normal daily routine,

he/she can always take part of his goods in his vehicle for marketing.

This approach is not used by many but for the aggressive marketer who is still

starting small and cannot afford the cost of renting a shop, it is an effective approach to consider.

3. AFFILIATE APPROACH

This is an uncommon approach in our part of the world.

It involves you getting some people to market for you with a commission in mind for them.

This approach is so effective in that your affiliates will do all the leg work for you with great result.

You don’t pay them salaries but commission based on sales.

4. RESELLER APPROACH

This is an approach which involves selling to other retailers.

This approach is actually suitable for marketers who buy in bulk

i.e importers with more capital to purchase enough goods.

The advantage of this is that you can quickly sell off your products with good profit.

It should be noted here that when you sell to resellers,

you should bring down the price to allow for profit too on the part of the reseller.

Meanwhile you’ll still make profit because you’re selling large Living quantities to your resellers,

and also your products will be sold
faster so that you can other for more.

HOW TO ADVERTISE YOUR PRODUCTS WITH out SPENDING MUCH

Getting people to know what you do is vital to any business.

the best forms of advertisement are:

1. WORD OF MOUTH ADVERTISEMENT

This is a very effective way to market your product.

Since we relate to people everyday in our offices, in church, mosque,parties, e.t.c,

talking to people about what we do should not be a problem at all.

A lot of people find this difficult to do and I just don’t know why!

Some people will tell you they are shy but I don’t think there is anyone who is shy to become rich in life.

This kind of advertisement is the best and cheapest.

One major thing that is important is getting across to your customers affordable and quality products.

Once you’re able to do that, your product will advertise you with time.

2. USING FLYERS

This is another effective means of advertising your products.

Simple flyers can be designed on a computer and distributed in places where

people gather to relax like Churches, Banks, Joints, Mr Biggs, Tantalizers e.t.c

Your flyer should have attractive headlines with your product name and specificity included.

Also you should make sure your contact details are in place for prospective

customers to contact you as the need arises.

CONCLUSION

Now that you have this information with you, what are you going to do with it?

Endeavour to use every part of this manual and you will be surprised to see what will happen to your financial life.

If you have enjoyed going through this report, drop a appreciation comment.

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2 Comments

2 Comments

  1. Taiwo Oyeleke

    June 7, 2019 at 1:30 pm

    I will like to know more about this business. in fact I have much interest in the business. You can send more to my email: oyelekelayinka@yahoo.com. Thanks

    • Mitrobe

      June 7, 2019 at 8:31 pm

      Alright,check your mail for more information in details

We will appreciate I'd you share your thoughts on this post with us

Forex

Forex Basic | learn how to read a Forex quote

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Forex basic | learn how to read a Forex quote

As a general rule, each currency has a three letters symbol, which is used in Forex quotes.

The first two letters identify the name of the country while the third letter identifies the name of that country’s currency.

For example:

• AUD (Australian dollars)

• JPY (Japanese yen)

• CHF (swiss francs)

•CAD (canadian dollars).

When trading currencies, the trade is always done in pairs and so when you buy one currency, another currency is simultaneously being sold.

Forex trading

The most commonly traded currency pairs are

• Euro and US Dollar (EUR/USD)

• US Dollar and the Japanese Yen (USD/JPY)

• US Dollar and Swiss franc (USD/CHF)

• British Pound and US Dollar (GBP/USD)

The most commonly traded currency pairs are made from the most common and actively
traded currencies which are called the “Majors”.

The list of currencies below consists of the Majors

• USD (US dollars)

• EUR (European Euros)

• GBP (United Kingdom pounds)

• JPY (Japanese yen)

• AUD (Australian dollars)

• CHF (Swiss francs)

• CAD (Canadian dollars)

When quoting currency pairs, the first currency is referred to as the Base currency while the second referred to as the Counter or Quote currency.

The currency pair is used to represent how much Quote currency is required to exchange

Example:

• EUR/USD 1.3500 mean that one Euro is traded for 1.35 USD.

As such the Base currency is always equal to 1 monetary unit of exchange.

The dominant base currencies are, in order of frequency, the EuR, GBP, and USD.

When a currency is quoted against the US Dollar it is called a direct rate.

Any currency pair that does not trade against the US Dollar is referred to as a cross rate.

So what takes place once a trade is taking place?

Example:

• You buy British Pounds with the US Dollars – (GBP/USD), anticipating, the Pound to increase in value relative to the Dollar.

If the Pound rises relative to the Dollar, you sell the position (you Sell British Pound) and have made a profit.

Keep in mind that there are no standard cross-currency Quotes.

Some have the base currency on the top while others have it on the bottom.

So how can you tell which is which?

You need to know at least one pair of currencies and which one of the pair is the more valuable.

Dominant Base Currencies

• Euro – EUR/USD, EUR/GBP, EUR/CHF, EUR/JPY, EUR/CAD

• British Pound – GBP/USD, GBP/CHF, GBP/JPY, GBP/CAD

• US Dollar – USD/CAD, USD/JPY, USD/CHF

The Pip

The pip is the smallest unit of change in which a currency pair can move.

In the Forex world, currencies are traded in fractions of a Cent, or Euro, and so on.

Nearly all currency pairs consist of five significant digits and most pairs have the decimal point immediately after the first digit, with four decimal points to follow.

For example

EUR/ usd is equals to 1.3377.

In this example, a single pip equals the smallest change in the fourth decimal place – that is, 0.0001.

Therefore, if the quote currency in any pair is USD, then one pip always equal 1/100 of a cent.

The only notable exception to this rule is the USD/JPY pair where a pip equals $0.01.

A numeric example

You buy the EUR/USD, which is quoted with five digits in all out of which 4 decimals, at 1.3530 and sell it later at 1.3542.

The difference would be +12 pips, or. 0012.

However, in the case of the uSD/JPY currency pair, one has to make a note that it is quoted with only 2 decimals.

And so if you bought the uSD/JPY at 110.51 and it then went down to 110.31 where you have sold it, the difference would be -20 pips, or. 20 pips loss.

The pip difference would determine your calculation of profit/loss on the trade.

As mentioned earlier, the quote currency is translated into a certain number of units of the base currency.

For example

A quote of EuR/uSD at 1.35 means that, for every 1 euro, you get 1.35 uS dollars.

When the price of the quoted currency goes up, it indicates that the base currency

is becoming stronger and so one unit of the base currency will buy more of the quote currency.

On the other hand, if the price of the quote currency falls, the base currency is becoming weaker.

The Bid and the Ask

Forex quotes are shown in ‘bid’ and ‘ask’ prices.

The Bid is the price at which the market
maker is ready to buy a given currency

pair and so at this price the trader (seller) can sell the base currency to the market maker,

The Bid is shown on the left side of the quotation.

On the other hand, the ask is the price at which the market maker is ready to sell

given currency pair and so at this price the trader (buyer) can buy the base currency from the market maker,

The ask is shown on the right side of the quotation.

The ask price is also called the offer price.

Symbol Bid Ask

EUR/USD 1.3517 1.3520

Over the above Quote sample we can buy from the market maker one euro for 1.3520

american dollars, or sell one euro for 1.3517 american dollars to the market maker.

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Mitrobe Daily Quotes

Entrepreneur Mindset | Act As If It Were Impossible To Fail.

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Entrepreneur mindset

Fear, uncertainty and doubt are, and have always been, the greatest enemies of success and happiness.

For this reason, top salespeople and entrepreneurs work continually to confront the fears that hold most salespeople back.

“Courage is resistance to fear, mastery of fear-not absence of fear.” (Mark Twain)

The two major fears that stand as the greatest obstacles on your road to success are the fear of failure, or loss, and the fear of criticism, or rejection.

These are the major enemies to be overcome.

As it happens, it is not failure or rejection that hurts you or holds you back.

It is the fear of failure or rejection.

It is the anticipation or expectation of failure or rejection that paralyzes you and blocks you from doing what you need to do to achieve your goals.

The truth is that everyone is afraid of something, and often, many things.

Everyone you meet is afraid of failure and rejection in some way.

The difference between the hero and the coward is that the hero is brave just a couple of minutes longer.

The average person moves away from and avoids the fear-causing situation.

The brave person forces himself or herself to confront the fear and does it anyway.

Glen Ford, the actor, once said,

“If you do not do the thing you fear, then the fear controls your life.”

Ralph Waldo Emerson said his entire life was changed when he read the words,

“If you would be a great success, make a habit throughout your life of doing the things you fear.”

And I say

Act as if it where impossible to fail

Entrepreneur Mindset | Act As If It Were Impossible To Fail.

Because you can never make off anything if you scared, to have a successful business, career, life, or anything, you have to do one thing. And that is THE HUSTLE

The fear of failure, the major obstacle that holds you back, is felt in the solar plexus and experienced in the feeling of: “I can’t!”

The way that you neutralize this feeling is by repeating the phrase, “I can! I can!” over and over.

Even more effective for neutralizing the fear of failure, say to yourself, “I can do it! I can do it!” over and over, until you actually believe it.

Whenever you repeat the words “I can do it!” your fears diminish and your self- confidence increases.

When you repeat to yourself the words, “I like myself! I’m the best! I can do it!”

you boost your self-esteem and self-image to the point where eventually you feel unstoppable.

You create within yourself the mindset of the high performance entrepreneur.

Then, as Emerson said, “Do the thing and you will have the power.”

Here is a key point about fear of any kind.

Instead of waiting until you feel courageous enough, do the thing you fear, and the courage will come afterwards.

As Aristotle said, “Act as if you already had the quality you desire, and you shall have it.”

Action Exercise: Identify the one great fear that holds you back from throwing your whole heart into becoming a big success in your field.

There is always at least one fear lurking in the back of your mind.

Now imagine that you do not have this fear at all. Imagine that you are totally unafraid in every part of your sales work.

Imagine that you are guaranteed of complete success in everything you do.

How would you act or behave if you had no fears at all?

Whatever your answer, from now on, act as it if were impossible to fail, and it shall be! Fake it until you make it.

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Marketing

7 secret of sale success practise by highpaid salespeople

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Sales success

There are seven secrets, or principles, of sales success.

They are practiced by all the highest paid salespeople every day.

The regular application of these secrets is virtually guaranteed to move you to the top of your field. Check also how to get your sales funnel full with offers

Do a little bit more than average and from that point on your progress multiplies itself out of all proportion to the effort put in.” (Paul J. Meyer)

7 secret of sale success practise by highpaid salespeople

Sale Success Secret One

Get serious! Make a decision to go all the way to the top of your field.

Make a today decision to join the top 10%.

There is no one and nothing that can hold you back from being the best Salesexcept yourself.

Remember, it takes just as long to be great as to be mediocre.

The time is going to pass anyway. Your job is to commit to excellence, to get better

and better each day, and to never, never stop until you reach the summit.

Sales Success Secret Two

Identify your limiting skill to sales success.

Identify your weakest single skill and make a plan to become absolutely excellent in that area.

Ask yourself, and your boss, “What one skill,

if I developed and did it consistently in an excellent fashion, would have the greatest positive impact on my sales?”

Whatever your answer to this question, write it down, set a deadline, make a plan, and then work on it every day.

This decision alone can change your life.

Sales Success Secret Three

Get around the right people. Get around positive, successful people.

Associate with men and women who are going somewhere with their lives.

And get away from negative, critical, complaining people.

They drag you down, tire you out, distract and discourage you,and lead you inevitably to underachievement and failure.

Remember, you cannot fly with the eagles if you continue to scratch with the turkeys.

Sales Success Secret Four

Take excellent care of your physical health.

You need high levels of energy to sell effectively, and to bounce back from continual rejection and discouragement.

Be sure to eat the right foods, get the right amount of exercise and get plenty of rest and recreation.

Make a decision that you are going to live to be 80 years old, or more, and begin today to do whatever you have to do to achieve that goal.

Sales Success Secrets Five

Visualize yourself as one of the top people in your field.

Imagine yourself performing at your best all day long.

Feed your subconscious mind with vivid, exciting, emotionalized pictures of yourself as positive, confident, competent and completely in control of every part of your life.

These clear mental pictures preprogram you and motivate you to sell at your best in any situation.

Sales Success Secret Six

Practice positive self-talk continually. Control your inner dialogue.

Talk to yourself the way you want to be rather than the way you might be today.

For example, repeat to yourself these powerful words, over and over again.

“I like myself! I’m the best! I can do it! I love my work!”

Say to yourself, “I feel happy! I feel healthy! I feel terrific!”

Remember, fully 95% of your emotions are determined by the way you talk to yourself, most of the time.

The way you feel determines how you behave.

And how you behave determines how much you sell.

Your job is to get yourself on an upward spiral where you think and talk to yourself positively, all day long.

You think, walk, talk and act like the very best people in your field. When you do, your success becomes inevitable.

Sales Success Secret Seven

Take positive action toward your goals, every single day. Be proactive rather than reactive. Grab the bull by the horns.

If you are not happy with your income, get out there and get face to face with more customers.

If you are not happy with any part of your life, accept responsibility and take charge.

All successful salespeople are intensely action oriented.

They have a sense of urgency. They develop a bias for action.

They do it now! They have a compulsion to closure.

They maintain a fast tempo and move quickly in everything they do.

And the good news is this. The faster you move, the more energy you have.

The faster you move, the more ground you cover.

The faster you move, the more people you see.

The more people you see, the more experience you get.

The more experience you get, the more sales you make.

The more people you see and the more sales you make, the more your self-esteem and self respect goes up, and the more you will feel like great about yourself.

You will have more energy. You will be happier and more positive.

The faster you move, the more you take complete control of your entire life and virtually guarantee that you will be one of the top performers and the highest paid people in your field.

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