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Success Story: Importing

Discussion in 'Product Creation, Inventing, Importing, Sourcing' started by Walter Hay, Apr 18, 2019.

  1. Walter Hay
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    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    From time to time I receive messages from people that have used my importing book, and I have only ever posted one on the forum.

    The following is an email I received today. I was prompted to post it, not only because it shows what can be done by someone who started off with absolutely no experience and very little finance, but because I know how nervous he was when he started.

    He was full of doubts, but I urged him to continue because I could see that his idea was viable.

    I must say that such occasions make me slightly anxious too, because I would feel very bad if I gave advice that led to failure, so readers will understand my delight when I receive message such as this one:

    Hi Walter, hope you are still at this email. Well, it's been just over 5 years since I started this business with your guidance at the beginning. I just wanted to shoot you a note to say "thanks." All is well. I'm still using the same supplier in China and shipper (Universal Cargo -- that you recommended). Not sure if I would have gone down this road without your assurances at the beginning that I was on a good path. And, it has and continues to work out very well. We have grown every year and now sell over 1 million a year in XXXXX products. This year we are adding many new products and so hope to grow even more.

    Anyway, let me know if you get this email and again, thanks so much!


    To preserve confidentiality I removed the word identifying his product range.

    Walter
     
    Sheens, MJ DeMarco, SYK and 34 others like this.
  2. B. Cole
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    B. Cole In thine hand is power and might. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    That’s awesome Walter. I can only imagine the successes you’ve seen.

    Was this a forum member by chance? I wouldn’t want to know who, but it’d be cool if it were.
     
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  3. Walter Hay
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    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    No it wasn't. At that time I was active on another forum which has deteriorated horribly over the past few years as a result of the new owners changing it in their pursuit to make more money out of it.

    It now encourages self-promotion, provided you are willing to pay for it. It also now has hordes of members expecting answers to "How do I make money?" type questions.

    I know quite a few of the old stalwarts have moved to the Fastlane and are contributing, not just taking.

    Walter
     
  4. Arun Siva
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    Arun Siva aspiring 大君 of the bourgeoisie Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass Summit Attendee

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    congrats as always Walter. I hope that more people can benefit from your value in the long run as it is a comprehensive and systematic approach for someone willing to put in the time and effort without burning too much midnight oil.. Happy easter as well.
     
    Walter Hay likes this.
  5. Walter Hay
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    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    FAILURE.
    To give a more complete picture of the reality, I thought I should also tell about a failure.

    A person who bought my book seemed well equipped to succeed. He had plenty of cash to invest in his new business, and from the questions he asked, it appeared that he was taking the right approach.

    Out of the blue, he told me how badly his entry into the world of importing had gone.

    He had placed an order, paid, and received nothing!

    So what went wrong?

    It staggered me to learn that after paying for a book that included step by step instructions, with plenty of warnings about what could go wrong, he ignored it all!!!!

    He broke just about all the cautionary rules in my book.

    Among other things, he didn't start off with a small order to test both the supplier and the potential market. Instead he ordered $3,000 worth of a product he had not even sampled.

    He chose a Gold Supplier, and believed everything that supplier had posted on Alibaba, but totally failed to carry out even basic due diligence.

    He allowed the supplier to handle the shipping.

    He paid $3,000 via Western Union.

    Nothing arrived. The supplier's listing disappeared from Alibaba.

    The only thing he did right was to accept that he had done everything wrong, and he did not blame me.

    Such behavior astounds me. Paying for advice and then ignoring it seems insane.

    Walter
     
    Longinus, Roli, ZF Lee and 6 others like this.
  6. Arun Siva
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    Arun Siva aspiring 大君 of the bourgeoisie Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass Summit Attendee

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    Walter you know as well as I do even the biggest of the bigs (manufacturers and movers) pay millions for consulting and still the guy up top doesnt fully take the advice given. I know because I have been there haha.
     
  7. brockzilla
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    brockzilla New Contributor

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    I totally remember that forum you mentioned. The timing of your post couldn't have been made at a better time...I just returned from a trip from Indonesia and I'm interested in importing furniture (at a small scale for now) and was curious about shipping freight options. The recommend sea freight but for small amount of orders, is this the best route to go with?
     
  8. Walter Hay
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    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    That's absolutely right. Unfortunately a lot of people that make it to the top develop opinions of themselves that they are so superior that they don't need to listen to others.

    Among the success stories that I have enjoyed hearing from my book users is one told me by the son of a very successful businessman.

    Their company had for years been importing multiple container loads every month, but now his father was retiring. The son had for a long time thought that they were in a comfortable rut.

    He bought the book not long after his father retired and found it enlightening, and his new knowledge confirmed what he had long thought. He found more and better suppliers, and made great improvements to their importing procedures.

    Their very successful business took on a new lease of life. The old man knew what worked and was self-satisfied. His son had been stalled for a long time.

    The son's testimonial is among the hundreds on the ProvenChinaSourcing website.

    Walter
     
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  9. Suzanne Bazemore
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    Suzanne Bazemore Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    @Walter Hay, it must feel really good to hear such positive feedback about the difference you've made in someone's life. I'm happy for you, and I really appreciate how you and so many other people on this forum share your experiences for other people's benefit.
     
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  10. Walter Hay
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    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Although most furniture will probably be shipped in Flat Packs, otherwise known in some industries as "knocked down", the dimensions and weight will almost certainly make sea freight the best option.

    Be sure to get door to door quotes from several freight forwarders (not Chinese companies - see: Ch.4 Freight Explained And Scams Avoided.)

    Also, especially don't miss the hint in 4.6 The difference between FCL and LCL. It could save you a lot of money.

    Walter
     
  11. million$$$smile
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    million$$$smile Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    I used to fly back and forth to Indonesia working, and during that time I brought back quite a bit of wood products. Loved the carvings, but after a time, many of them cracked due to changes in humidity of where I lived and where they were made.
    You might test a few smaller pieces of furniture prior to having a bunch shipped over. It might save you from some negative customer feedback. Just a thought.
     
    AgainstAllOdds, ZF Lee and Walter Hay like this.
  12. Walter Hay
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    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    That's an excellent suggestion, but I think cracking due to different humidity levels should be less for furniture if it is made from properly seasoned timber.

    Kiln drying gives the best results, but I expect that Indonesian producers will use the more traditional air drying.

    Don't just rely on what the furniture supplier tells you. Next time you are in Indonesia visit the timber mill to check.

    Walter
     
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  13. Andy Daniels
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    Andy Daniels Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I'm sure that email was one of the highlights of your day. How wonderful.

    My goal is to not only succeed by doing things my own way, but to inspire others to think differently, and think in ways that give to others.

    Such thinking is seldom found anymore.

    Thank you @Walter Hay for the incredible value you give to others.
     
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  14. Roli
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    Roli Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I know right!

    I would never "ahem" do something like that! :wideyed::wideyed::wideyed:
     
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  15. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Admin Post
    Great to hear it, always warms your heart when you hear someone changes their life, both mentally and financially. Freedom has no price!
     
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