Import Export Business Success Pyramid for International Traders
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Pyramids have existed thousands of years ago, and they still remain today as
- the largest structures on Earth
- the tallest man made structure for over 3,800 years
- ancient properties built with 10,000+ humans in a span of more than 10 years
Take for example, the Great Pyramid of Giza was still enlisted as one of the Seventh Wonder of the World even it was built during 2551 BC. No doubt, the pyramid construction represents the best structural stability for the property and architectural industry.
So, what has pyramids got to do with international trade? Simple. The best international traders don’t waste their time, effort and money chasing trade leads. They discuss the process of improving trade connections to add value to their ideal customer target. They discuss the process of expanding trade channels to reach untapped market potential.
Pyramids are built for permanence and strength to withstand harsh weathers. And, successful trading companies always strive to achieve greatness with their own international trade standards. With this inspiration, let us build upon the international trade spirit with this pyramid.
Import Export Business Success Pyramid
Tip #1: Click image to zoom-in for better viewing
Tip #2: Point your mouse to the above image, right click and select ‘Save Image As’ or click here to download this high quality IMEX Business Success Pyramid image for your office wall or computer wallpaper.
So what does each building block of success from bottom to the top means?
Level 1: Your Attitude
Commitment: If you want to source from the best, you have to collaborate with a foreign team who share the same trade mission values, and most importantly, integrity to continuously improve their system. Both parties have to think of co-opetition (co-operation + competition).
Mapping: The journey to the East or West begins with mini markets. Start listening to the trade language and discover your ‘sweet spot’ that can attract end users to trade with you.
Adaptation: More than document and language translation, adaptation is a way to transfer your message to a new culture. It can be fresh ways to mix different cultures to create much relevant impression to capture your consumers’ imagination, perception and attention.
Education: You are a business owner. You may not need to become an import-export trade expert but opening up your mind to learn a new language for business or creating packets of sales team to sell your invention in different countries can open up new possibilities to grow your business. With the ever-changing import-export business industry, you stand a better chance to trade big when you build your trust and communicate your IMEX standard to meet global trade opportunities.
Patience: Whether you are a large or small trading firms, you need patience to develop business relationships and trust. Other traders will only recognise your love or passion in trading what you know best, in order to invest in your IMEX standard projects.
Level 2: Your Approach
Trade Tools: When you get to access collaborative or competitive tools, you can gain an ‘unfair’ advantage over your competition. More than using those tools, you need to know how to verify and interpret those data to fit your strategies
Partnership: When you can hop towards your destination, why walk? In other words, if you can achieve your goals quicker by working with joint partners, why not make use of that leverage to research new market, or penetrate niche customers in your community?
Trade Terms: Knowing, playing and mastering the rules of the trading game like INCOTERMS can save you from unknown trading traps in trade documentation, trade shipping or trade payment policies.
Sourcibility: Source within your ability is the best way to maintain your integrity. Negotiate as much as you can with your eyes and ears. Get as much help and feedback from your local customers, agents, distributors and resellers to zero in your trade mission.
Level 3: Your Goals
Trade Leads: Plant trade invitation at the right spot to give your buyers the benefit of doubt to try you as a new supplier. With increased visibility and trust, you can then invite them to buy your unique products and services at a variety of distribution channels.
Trade Votes: Help your customers to fall in love with your makings by giving you a vote. For example, if you sell toothbrush, strive your best to be the most environmentally friendly ‘Made in Australia’ toothbrush or the most affordable ‘Made in China, Finished in America’ slippers! I think you get what I mean.
Trade Language: Help your customers to recognise your brand and your hard work in sourcing the best for them in your own community. For example, if you sell milk in China, describe your story on why it is necessary to deliver the highest quality milk (牛奶) to them by sourcing the ‘best milk ingredient from New Zealand’.
Level 4: Your Tactics
Trade Reputation: People don’t pay just for the products or services. People pay more for what they care about in their life. For example, if you aim to sell your own brand of real organic food, you can target those who care about animal rights, who may also likely be a pro-vegetarian with the willingness to pay more for hard-to-find 100% organic food.
Social Trade: Make your brand as memorable as possible in your product category. For example, Tupperware used to be a brand but now it is considered as a day-to-day lexicon for everyday users who refer to it as plastic storage containers. Tupperware’s design idea remains as a key influence to the plastic/food industry, and its brand remained as one of America’s most admired companies.
Level 5: Your Execution
IMEX Leader: Clone your brand success in the import-export market to attract foreign business partnership and international investment. Add a pair of ‘wings’ to your company to expand your brand influence and share your best practices. The first wing is ‘word of mouth’, and the second wing is ‘community trust’. To sum up, you can apply these pair of wings as your ‘leverage’ to help you extend your trade knowledge in foreign markets.
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So, what’s your trade success stories? Think you got a better way to improve the pyramid chart? Let’s talk.
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