• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 40,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

GOLD! Sharing my lifetime experience in export/import. Product sourcing specialist.

Discussion in 'Product Creation, Inventing, Importing, Sourcing' started by Walter Hay, Sep 17, 2014.

  1. Xeon
    Offline

    Xeon Nessuna macchina per me se non una Pagani Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    487
    Likes Received:
    1,015
    Joined:
    Sep 3, 2017
    Gender:
    Male
    Location:
    Singapore
    Rep Bank:
    $4,860
    Thanks a lot Walter!
     
  2. Walter Hay
    Offline

    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    6,035
    Joined:
    Sep 13, 2014
    Gender:
    Male
    Location:
    World citizen
    Rep Bank:
    $49,132
    The best hope of getting any compensation is to convince such a supplier that you intend placing further orders because you understand that mistakes are sometimes made, and you like his company's design capability.

    Walter
     
    Cembo likes this.
  3. Zedd9165
    Offline

    Zedd9165 Contributor Read Millionaire Fastlane

    Messages:
    61
    Likes Received:
    50
    Joined:
    Dec 22, 2017
    Location:
    India
    Rep Bank:
    $346
    Hi walter,

    How are you doing? Walter I have been thinking if services like sourcing (used item) from an individual exist in the usa? For example, I require fitness equipment and someone in Chicago is selling it and I want to purchase that particular item through a reliable company and ship it to India. Just wondering if any such kind of things are possible for individuals since I work for a trading firm we have tie-ups with logistics companies who pick up our material worth millions from the manufacturers but I'm not sure if any such services are available when the amount is just 1000 to 2000 bucks max.
     
  4. Walter Hay
    Offline

    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    6,035
    Joined:
    Sep 13, 2014
    Gender:
    Male
    Location:
    World citizen
    Rep Bank:
    $49,132
    I suggest that you look for experienced, go-getter people in the fitness industry and put a proposal to them.

    You might need to find people in several locations willing to hold the items for you until your logistics organization to pick it up and ship for you.

    Walter
     
    Zedd9165 likes this.
  5. Zedd9165
    Offline

    Zedd9165 Contributor Read Millionaire Fastlane

    Messages:
    61
    Likes Received:
    50
    Joined:
    Dec 22, 2017
    Location:
    India
    Rep Bank:
    $346
    Thank you for the suggestion but do you think it will be possible to form a trust when doing such business where the chances of getting cheated are high?
     
  6. Walter Hay
    Offline

    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    6,035
    Joined:
    Sep 13, 2014
    Gender:
    Male
    Location:
    World citizen
    Rep Bank:
    $49,132
    That is the biggest problem and for this reason at least a personal meeting would be necessary, although not foolproof.

    I don't know of any established services that would handle such work for you.

    Walter
     
  7. Zedd9165
    Offline

    Zedd9165 Contributor Read Millionaire Fastlane

    Messages:
    61
    Likes Received:
    50
    Joined:
    Dec 22, 2017
    Location:
    India
    Rep Bank:
    $346
    I totally agree about a personal meeting. Further, I have been a member of one of the fitness related forums where there are several enthusiasts who have helped in sourcing fitness equipment locally. But none of them ever had overseas tie up. These people are trustworthy (but cant be guaranteed when money is involved). Hope it works out.
     
    Walter Hay likes this.
  8. mguerra
    Offline

    mguerra Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    82
    Likes Received:
    65
    Joined:
    Mar 23, 2015
    Gender:
    Male
    Rep Bank:
    $96
    Hey Walter, how are you doing?

    I'm having a certain issue in my business and I could only thought about you when I decided to ask an expert for direction. Here is my situation:

    My supplier sent my products (empty plastic jars) and paid U$630 of shipping via Fedex to Brazil. When the Fedex agent called me to inform about the tax - which was absurdly high - he veemently affirmed that the value paid to ship was U$1700 (which is impossible, because the total order value was about U$900).

    When I contacted the supplier he told me that it must be a mistake and he only paid U$630 and that he's going to call Fedex tomorrow.

    I asked him to send me a document that proves this was the value he paid to ship and I'll make an appeal to fedex to recalculate the tax. Can you guide me on what the possible causes and solutions on this case may be?

    I really appreciate your help. Thanks in advance =)
     
  9. Walter Hay
    Offline

    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    6,035
    Joined:
    Sep 13, 2014
    Gender:
    Male
    Location:
    World citizen
    Rep Bank:
    $49,132
    I'm sorry to learn about your problem, but unfortunately this kind of situation occurs often in Brazil.

    I suspect that either:
    • The FedEx agent you have been talking to is corrupt and if so he/she will probably want payment outside the FedEx system, or
    • A Customs officer is corrupt and is demanding money from the FedEx agent.
    You need to contact a senior person in FedEx, or at least someone other than the one who has already contacted you.

    I posted on a similar issue in relation to imports to Brazil in this post:
    GOLD - Sharing my lifetime experience in export/import. Product sourcing specialist.

    Your best chance of success is to hire a Customs Broker to do the clearance for you. At this stage, an import entry has almost certainly not been lodged with Customs, so if you find a good Customs Broker they should be able to intervene and handle the clearance for you.

    Walter
     
    Xeon and Magneto C like this.
  10. Xeon
    Offline

    Xeon Nessuna macchina per me se non una Pagani Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    487
    Likes Received:
    1,015
    Joined:
    Sep 3, 2017
    Gender:
    Male
    Location:
    Singapore
    Rep Bank:
    $4,860
    Hi again Walter, do you feel it's very expensive to ship textile/fabric from Thailand to the US (GA,PA,NC,SC and other East coast states)?

    My manufacturer is quoting USD285 to ship a 15 KG (33 lbs) product to one of the east coast state and it feels expensive to me (DHL).

    I wonder if there's some other alternative method of shipping to halve the cost (besides sea freight as that's too long).
     
  11. Walter Hay
    Offline

    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    6,035
    Joined:
    Sep 13, 2014
    Gender:
    Male
    Location:
    World citizen
    Rep Bank:
    $49,132
    I would regard that cost as grossly excessive. It would seem that either your supplier or DHL must be trying to take advantage of you.

    Search for air freight consolidators and get quotes, being sure to specify door to door. You will need the dimensions of the package, because textiles can sometimes be bulky but light and that can result in freight costing a lot more than you would expect.

    Walter
     
    Xeon likes this.
  12. Xeon
    Offline

    Xeon Nessuna macchina per me se non una Pagani Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    487
    Likes Received:
    1,015
    Joined:
    Sep 3, 2017
    Gender:
    Male
    Location:
    Singapore
    Rep Bank:
    $4,860
    Thanks Walter, would you consider something like this: Freight Forwarder in Bangkok, Thailand | AXIUM SHIPPING to be an air freight consolidator?

    If I'm not wrong, an air freight consolidator basically sends people down to my manufacturer, collect the goods, then ship it together with goods from other companies to the similar place to get a cheaper rate?

    EDIT: Just to add, I just purchased your book! Cheers! :innocent: :halo:
     
    Last edited: Feb 13, 2018
    Walter Hay likes this.
  13. Walter Hay
    Offline

    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    6,035
    Joined:
    Sep 13, 2014
    Gender:
    Male
    Location:
    World citizen
    Rep Bank:
    $49,132
    Strictly speaking, Axium is a freight forwarder.

    There is an overlap in the definitions of freight forwarders and freight consolidators, and in most cases both classes of business will carry out the same roles. Not all freight forwarders will provide consolidator rates on freight, and not all freight consolidators will handle all the necessary functions to handle a shipment from point A to point B.

    The primary distinction is that a true consolidator buys freight capacity at a volume discount, and sells that capacity to people wanting to ship various size shipments, very often quite small. They should, and usually do, pass on some of the discount they have obtained.

    In either case you must obtain quotes and you should always specify exactly what you want. In most cases you will want an all-inclusive cost from the pick up point at your supplier's premises to delivery to your specified address, including Customs clearance.

    Note: Clearance costs never include duty and tax. These are always your responsibility. The exception is the rarely used DDP.

    Walter
     
    Xeon, Magneto C and Greg R like this.
  14. Xeon
    Offline

    Xeon Nessuna macchina per me se non una Pagani Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    487
    Likes Received:
    1,015
    Joined:
    Sep 3, 2017
    Gender:
    Male
    Location:
    Singapore
    Rep Bank:
    $4,860
    Thanks Walter, if I'm in Singapore, and the manu is in Thailand, and the warehouse is in the US, does it matter which country the freight consolidation company is from? Is it preferable for it to be in the same country as the manu?
     
  15. Walter Hay
    Offline

    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    6,035
    Joined:
    Sep 13, 2014
    Gender:
    Male
    Location:
    World citizen
    Rep Bank:
    $49,132
    It is usually best for the consolidator to be in the same country as the manufacturer, but if using a freight forwarder I would choose one in the destination country.

    Walter
     
    Last edited: Feb 14, 2018
    Magneto C and Xeon like this.
  16. Walter Hay
    Offline

    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    6,035
    Joined:
    Sep 13, 2014
    Gender:
    Male
    Location:
    World citizen
    Rep Bank:
    $49,132
    Thanks for Rep transfer.

    I don't know where to post this, so I hope those who have sent me reps will see this post.

    I have received some generous rep transfers, and because they come from members whose PMs are blocked I can't thank them directly.

    So..... thank you to all who have sent me reps. If I have missed directly responding to any, please accept my apologies and be assured that I appreciate being appreciated.

    Somehow I think maybe there is a role for a thread that enables members to acknowledge rep transfers.

    Walter
     
    Xeon, ddzc and cmor16 like this.
  17. Late Start
    Offline

    Late Start Bronze Contributor FASTLANE INSIDER Speedway Pass

    Messages:
    132
    Likes Received:
    244
    Joined:
    Nov 23, 2015
    Gender:
    Male
    Location:
    Uniontown, KS
    Rep Bank:
    $1,623
    Walter, is there a good time and a bad time to ask for credit terms from a supplier? I've been really impressed with my new supplier, who is providing my first custom designed product, and unlike my first supplier these folks have been top notch in terms of professionalism, QA, etc.

    I've placed two large orders so far, so I didn't want to jump the gun, but with the kind of volume I'm going to need, credit terms (Net 30? Not sure what the standard is) would be exceedingly helpful.
     
  18. MHP368
    Offline

    MHP368 Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    45
    Likes Received:
    64
    Joined:
    Aug 17, 2016
    Gender:
    Male
    Location:
    Sahuarita AZ
    Rep Bank:
    $361
    60 pages later! wow, incredible thread Walter

    Got the book, thank you for your time and effort!
     
    Walter Hay likes this.
  19. Walter Hay
    Offline

    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    6,035
    Joined:
    Sep 13, 2014
    Gender:
    Male
    Location:
    World citizen
    Rep Bank:
    $49,132
    I think you have my book, so see Chapter 15.2. The main point is to establish a good relationship with your supplier. Always be polite, alwyas do whatever you say you will do, and be sure that they know that you are an ethical person.

    It's no use simply telling them that. You must show it by your actions. One of the best ways is to tell them early on that you don't want fake invoices. That will distinguish you from most of their customers, many of whom will have asked for that illegal favor.

    Walter
     
  20. jjjust
    Offline

    jjjust PARKED

    Messages:
    1
    Likes Received:
    0
    Joined:
    Dec 29, 2015
    Gender:
    Male
    Rep Bank:
    $17
    Hey Walter,

    Justin here, been a long time..
    we spoke via PAC email messages back and forth couple years ago verifying chinese suppliers of hotel slippers..
    Mary says to forward my messages to you through her.. is there any way you can pm me?
    reading your 2017 book right now..
    thanks
     
  21. Walter Hay
    Offline

    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    6,035
    Joined:
    Sep 13, 2014
    Gender:
    Male
    Location:
    World citizen
    Rep Bank:
    $49,132
    Hi Justin, It's good to hear from you. I remember communicating with you about that question. I hope it finished up with good results for you.

    The reason Mary says to forward messages to me through her is that my support team can often answer questions that people put to me. I have given them a lot of training and they can answer most questions that people are asking.

    The only questions they forward to me are ones they can't answer. My work load is high (for a 79 year old retiree) and the referral through my support team saves me a lot of time, but in cases such as yours I sometimes communicate direct. I will send you a PM with my email address, and hope I can help you.

    Walter
     
    Kak and jjjust like this.
  22. jcvlds
    Offline

    jcvlds Bronze Contributor Speedway Pass

    Messages:
    118
    Likes Received:
    120
    Joined:
    Jul 9, 2016
    Gender:
    Male
    Location:
    Mexico > Texas > Florida
    Rep Bank:
    $628
    Hey @Walter Hay
    Thanks for all the support on this impressive and extremely valuable thread.

    I've been reading your book as I'm looking to start in eCommerce and I had a question regarding 'exclusivity'. I know you mention that Chinese manufacturers will almost never grant sole distributorships.. but does this apply if you are asking for a custom product? Like if you found them through a B2B portal for a product you are interested in but you are making changes to the design to make it better, etc. Will they then in turn be able to just sell that new design you made to anyone else?

    Many thanks and apologies if this may be a noob, dumb question.. but that's where I stand at the moment :p

    Appreciate it.
     
    Walter Hay likes this.
  23. Walter Hay
    Offline

    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,574
    Likes Received:
    6,035
    Joined:
    Sep 13, 2014
    Gender:
    Male
    Location:
    World citizen
    Rep Bank:
    $49,132
    There is never any guarantee that they will keep your idea just for you. Even if they say they will keep it exclusive to you, in reality they rarely will.

    Here is a link to a post I made in reply to a member who had already encountered that problem. My manufacturer posted my product to order on their site

    Walter
     
  24. jcvlds
    Offline

    jcvlds Bronze Contributor Speedway Pass

    Messages:
    118
    Likes Received:
    120
    Joined:
    Jul 9, 2016
    Gender:
    Male
    Location:
    Mexico > Texas > Florida
    Rep Bank:
    $628
    Thank you! I read the thread and will definitely apply what you and others mentioned. Gotta find the right supplier and build a good relationship with them from Day 1.

    Many, many thanks


    Sent from my iPhone using Tapatalk
     
    Walter Hay likes this.
  25. Sagemoney
    Offline

    Sagemoney Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    61
    Likes Received:
    211
    Joined:
    Mar 12, 2018
    Gender:
    Male
    Location:
    Michigan
    Rep Bank:
    $1,455
    Hey Walter,

    So I am in the final stages of negotiation and have requested a quote from the supplier but the cost for shipping seems to be extremely high.

    The product costs 580 to manufacture but the supplier has quoted Door-to-Door shipping as 570 USD. The shipping method quoted was "express" so a 14 day turn around time but should it still be that expensive?
     

Share This Page