HOW TO START A BUSINESS of CHEMICAL IMPORT AND EXPORT?
To “Start a chemical trading business” the preparatory step is to acquire at least the fundamental knowledge of the structure of the industry you want to penetrate. You must be well versed with tools used for managing it, hence it will be easy for you to do troubleshooting if needed. The next step is to select chemicals or chemicals you want to supply, it requires lot of hard work and dedication; deep knowledge of the market will help you to put a strong foundation for establishing a chemical business on it. Now are the steps which will make you unique from other newbies in markets.
- Make a table with two columns titled “What you need?” and “What you know about it?”
- Simultaneously list down the trend of the chemical business and how your ideas are different and more efficient from it.
- Select your product line and stay focused. Never get swayed by the intricacy of the business.
- While focusing on a specific product line you should also think about how to expand the business. Do forecasting and think about future, plan your long term and short term goals.
- Gather data as much as possible, in any situation, the data gathered by you quantifies the quality of the decision you made in past.
- Now collect the list of possible chemical suppliers or chemical distributors who trade or manufacture and also ships the cargo internationally. It is very important to have a background check before noting the company down in your list
- Follow the list of possible clients which is only going to fetch you revenue, so selecting the chemical suppliers and the industrial customer will be an important phase.
- Once your list of contacts is ready, you have to start selling your business, which we call the ‘first transaction’.
- Chemical trading business is always a two-way process, you have to sell your experience, qualification, and uniqueness in the market and it returns you should get customers too.
- Starting a chemical trading business is a competitive field. You should expect some failure, like in getting an agreement, gambling risks in everyday deals, etc.
- Always create a strong relationship with both chemical suppliers and customers.
- Because suppliers expect you to sell the products in markets and buyers expect you to deliver on time what they need.
Last but not the least, when everything is smooth and rich go global.
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