Below is a list of what you need to succeed:
- Active and Internationally recognized Payment Card
- Active registration with Online Marketplaces
- Internet connectivity
- A computer/Laptop (Not Compulsory) or
- An Android phone (if computer is not available)
Internationally recognized payment card: is used for payments online. This can be MasterCard brand or Visa brand. It can be virtual card or Plastic card. It is virtual card when it only exists online and for online transactions but cannot be used offline like to withdraw cash or pay on POS. But plastic cards behave differently. They pay online and offline. Later, you will learn how to obtain these cards.
Registration with online Marketplaces: requires that you register with websites where products are sold in commercial/wholesale quantities. These websites sell the items directly from factories. I’ll give you some of these as:
www.alibaba.com: This is the website where I started my success in importation. They offer products very, very cheap but of high quality. They are proud of their products. Here, products are processed same day because of competition. They have millions of products already advertised that you can take advantage of. Later, I’ll show you how to go about your business at alibaba.
Aliexpress is a marketplace registered as a full e-market for buyers at Alibaba. Here, buyers do not need to contact sellers before they buy any product. At this point, you may be asking what is the difference between Alibaba and Aliexpress. The difference is just clear.
At Alibaba, no price is quoted or at least in most cases prices are not quoted. The reason is simply obvious. You are expected to always contact the seller each time you want to buy any item from the marketplace. Note that even when you see a price quote at Alibaba, it is just for your guide its not a price quote in actual sense. There is a plate on Alibaba that says ‘be sure to contact seller before you buy’
When it comes to Aliexpress, you get the actual price, you make payment (even as the seller is away or asleep somewhere in China), seller sends you order after the due verification processes are carried out. As soon as you receive the item you continue the rest of the confirmation process as you will find out as you read ahead.
I will tell you my little secret on success at Aliexpress in subsequent chapters.
www.dhgate.com: DHGate is another MarketPlace I’ve successfully done online business. Just like the Alibaba, DHGate accepts payments online through ESCROW. This guarantees that seller does not receive payments until you receive products and confirm this. I’ll also teach you very soon how to go about this.
www.made-in-china.com: I have a friend whose main online market is made-in-china.com. To register, log on to the website and start business today. Below is how the home page looks
www.tradetang.com: like Alibaba and DHGate, trade tang accepts deposits online and also depends on ESCROW services to serve customers. We may really not say much about TradeTang because the principles that apply at Alibaba and DHGate are same as those at TradeTang.
A brief look at the trade tang website will convince you but before then have a look at a screenshot of TradeTang Website below:
All you need to do is sign up at www.tradetang.com and follow the principles already discussed for Alibaba and DHGate as you will find later in this book.
I have captured a copy of the TradeTang website which you will find below:
There are other marketplaces you may find yourself. There is only one simple step to it.
- Use google.com to find them. Use keywords like Import+Products+China+payment+online+ESCROW. And you’ll be amazed at the result. But you got to be careful to pay only securely online. For information on how to buy and or sell securely online, visit my website dedicated for e-payment at www.mendohz.com/epayment
- Register with your new found marketplace to be able to access the information on how to start business with them
- Discover their secure payments methods first before making purchases.
- As you source for products, get to know how much product the seller has been able to sell in the past
- Read up the feedback to know if the seller has more of bad report than good. For example, if a seller ships later than normal, you’ll know; if he sells defective products, you’ll also know.
- Get to know what courier partners and who pays for the services.
- Compare products before you buy. Some sellers are only high on their prices for the same product.
- Do not pay to anyone who insists on TT or Western Union. This way, you may not get this supplier after you’ve made payments.
- Make sure that the payment gateway is pioneered or assigned to the marketplace.
- Make sure that the payment gateway is also secure. To know more about online security, read the information at mendohz.com/epayment. The next chapter also dwells more on security. Read on!