Running a successful importation business (either mini or large) involves a lot of strategic partnerships with various businesses. As it involves the movement of goods across the borders of two countries, several third parties are involved such as the bank (for the payment structure banks), freight agents (involved in the logistics of goods), Quality Control and Government associations such as the customs, Standard Organisation of Nigeria(son), NDLEA, FDA, NAFDAC (to manage/enforce regulations and policy) etc.
The most secure way to build or scale an importation business is to have the right tools at one’s disposal to enforce significant differences in productivity, efficiency, and overall success. With the advancement of technology, the tools goes beyond having a smartphone, tablet or personal computers, wifi internet devices etc
This tools are systems that streamline the importation processes from start to finish. This will enhance communication with suppliers, swift payment and confirmation and help you stay organized.
In this article, we will explore five essential importation business tools that are crucial for the various scope of operations (small or large)
What are Importation business tools?
The importation business is a multilayer business which involves activities such as product sourcing, research and development, assessment and evaluation, procurement and payment, packaging/branding, Quality control, Shipping and Customs Clearance etc
This chain of operations is deeper than it looks for example Segun lives and sells running shoes for ladies in countries A and Tola, a graduate of economics in country B sees the advert of the shoe while engaging in some tiktok shots. Tola decides to buy this shoe, the number of operations that will be carried out from the time Tola ordered the shoe from Segun will be in a chain-like movement such that it could take from 3 -5 days to 2 months sometime before the goods are delivered
The importation business tools are various equipments, tools and systems implemented in the various chain of operation listed above. For proper categorization, we are classifing it into 5 essential tools.
5 Essential Tools to Run Importation Business Successfully
The various tools used in various sequences where this importation process takes place are what we want to consider so that as a beginner or expert. You can fully grasp the need and importance of each tool. Utilizing the right tools can significantly simplify and enhance your operations to achieve these objectives. Let’s delve into the five essential importation business tools that you need today.
1: Database Management Tools
Running a successful importation business requires the database management of every activity you do, this helps us to become accountable, growing the business over time and giving access to investor and grants.
Products been imported could be physical or digital, the processes involved are records which can be managed as a database, this includes suppliers’ information, contact details, shipping information, pricing agreements, products list, pricing agreements and product catalogues etc.
Database management keeps the importation business organized, and trackable (which is good for personal and external audits) streamlines supplier onboarding, tracks performance metrics, and maintains a transparent, efficient supply chain. and effective communication strategies.
They also function partly as inventory management system which provides real-time be visibility into your inventory levels, enabling you to track stock across multiple warehouses, monitor product demand, and set automatic reorder points.
These tools could be free or paid plans and they includes:
- Google Sheets or Microsoft Excel
- Google Documents
- Google Drive, One Drive, Cloud
2: Marketing Systems
Navigating through the whole process of importation is geared towards making/maximizing profit but how can this be realized if there are no marketing campaging for promotion. Irrespective of the size(mini or large), the goal of whatever been imported is to be sold, used for processing or personal use
In the case its to be sold, several tools (better regarded as systems) can be employed to. This can be futher grouped as Online or Offline systems due to the advent of technology
Online Systems
- Online Marketplaces such as Amazon, ebay, Jumia, Noon, Jiji depending on your location
- Online directories of shops and business such as Google my business list, yellowpages, social media groups
- Content System such as blogs, Vlogs, Podcast
- Social media advertisement via facebook, twitter, instagram, pinterest, youtube
- Affiliate Marketing
- Email Marketing
Offline Systems
- Supermarket, Shops, Local market distrubtions
- Tradeshows and Exhibitions
- Walkin shops and roadside stores
- Stickers, Posters, Billboards and Banners
- Radio Talkshows and Interview
- Roadside Outreaches
3: Payment Gateway Tools
Payment gateway are systems set up to enhance and build trust amongst sellers and customers in the importation business. this systems varies from place to place with thw sole responsibility to receive payment of goods boughts, put it in an escrow (with a notification to the seller that moneEfficiently managing your inventory is essential for importation businesses to prevent stockouts, redy has been paid but can only be retrieved or received if the goods is packaged, sent and delivered) or sent directly to the seller to process the goods shipment
This systems helps to ward off scamming actions, thus building trust between both parties. General systems implemented worldwide are
- Paypal
- Alipay, Google pay
- Third party applications such as Quickteller, paystack, stripe etc.
- Direct bank transfer account number
- Western Union
- Mastercard, Visa and Verve cards
4: Packaging, Shipping & Freight Forwarding Tools
Importation is all about moving goods across borders (international suppliers shipping to your warehouse or home country)
It involves the services of a proper and well specialized freight forwarder to simplify, coordinate logistics and provide comprehensive solution for diverse range of shipments with features such as shipment tracking, freight rate comparison, document management, and collaboration with freight forwarders.
Others include optimizing shipping routes (such as selection of the air, air+sea, sea cargo and express cargo), adequate packaging against damages, water and ensuring the timely delivery of your goods.
Tools Involved are
- printer: deskjet, inkjet, thermal printer and printer accesssories (paper, nylon)
- courier bags, stickers, sylofoam, cartoons
- logisitcs vehicle such as bikes, cars to enhance pickup and delivery of goods from/to the doorstep
- webistes for documentaation of goods, sorting and tracking
- shipping calculator to give out quote and calculate shipping expenses
5: Communication and Collaboration Tools
Effective communication and collaboration are vital towars the success of an importation businesses (as it cut across borders of a particular country)
To successfully do this, efficient and effective communication/collaboration is required. This tools help facilitate seamless interactions and improve team productivity (virtual meetings, share project updates, and collaborate on tasks in real-time regardless of geographical barriers). They Include
- video conferencing software such as zoom, skype, video call apps
- project management platforms, such as asana, trevo
- instant messaging apps such as livechat, whatsapp, wechat etc.
Importance of Importation Business Tools
This tools or systems helps to simplify individual organization and businesses in variety of ways, some of which are
- streamlining of activities: This tools helps to define and decode the core responsibility of each section for example a database management tools helps to sort, filter products easily online (just as arranging books in a book shelves), track and audits order easily thereby avoid overstocking or understocking which in return improves customer satisfaction through timely deliveries.
- b. automation: Without been there physically, this tools ensure the implementation of each function. With a website, customers can open an account, get confirmed and then input the goods to be sent with a tracking number allocated to him or her irrespective of the time of the day
- it helps to reduce costs and minimize errors unnecesarily
- Highly efficient and effective for oprimization of roles/functions in the business
- Improve productivity and customer satisfaction easily
In today’s competitive importation business landscape, this tools give you a significant advantage through incorporation thereby giving you the opportunity to stay ahead of the competition and establish your importation business on new heights by leveraging these indispensable tools.
Which of this tools do you think is more valuable? Kindly feel free to share in the comment below
