Basic modes of shipment used in export business.

This article is about different modes of transportation used by wholesalers and suppliers for delivering goods to their customer. Let’s have a quick look on every method’s advantages and disadvantages.

Article Body:
In order to supply their products to the customers, wholesalers and trade suppliers have to choose among various shipment methods. They normally consider some factors before settling on the shipping mode. These factors are

i. Business Size
ii. Cost
iii. Safety
iv. Delivery Time
v. Goods to be delivered

A shipment method will be evaluated by following characteristics.

i. Speed
ii. Cost
iii. Safety
iv. Convenience

Different methods have different positives and negatives. Some are safer, some really fast and others have a plus point of being inexpensive. You can choose any of the methods discussed below which suits your requirements.

Air transport:
This method is by far the fastest and much safer, unless you are offering some electronic product or service online which can be downloaded in real time. Despite of being safe and fast, suppliers (specially the small ones) are often reluctant to use this mode, mainly because of high cost associated with it. This should be helpful when delivering some valuable goods or when a quick delivery is needed.

Water Transport:
Most probably the oldest method used in trade for overseas supplies. In ancient times traders traveled by means of water, carrying several goods and products to sell in foreign countries. Inexpensive but relatively slow, certainly not a good choice when quick delivery is needed. However, when the time is not an issue and shipment is quite large, maritime transportation becomes an automatic choice.

Road Transport:
This is the most widely used method, especially in domestic trade. Even when air or water transport is the prime source of shipment, road transportation is still needed to carry the goods from ports to buyer. Although limited to domestic trade, this method is both time saving and cost effective.

Additional Methods:
There are some other rarely used methods like rail cars, or a combination of two or more of these. Another form of shipment rising out of the internet growth is electronic shipment which takes place on internet in no time after the customer has made payment.

It is not always easy to choose a method over the others. You can start by considering the questions like these. What do you want to deliver? Do you need to fulfill an urgent order? Can you afford some expensive medium without sacrificing a big part of your profit? If you are delivering some food items, can they be preserved for longer period? The best selection entirely depends on careful evaluation.

Laws that you need to know when dropshipping

Just like any other business, online business, e-commerce or dropshipping are also supposed to abide by some laws and regulations. No matter what is the nature of online business, buyers and seller are hardly face to face, except of the information they exchange with each other, they are total strangers. Many fraudulent minds try to exploit this limitation. The purpose of e-commerce laws and regulation is to make online transactions as safe as possible. For buyers they provide protection against numerous types of frauds, for sellers it allows them to improve their credibility. These rules and regulations are mainly applicable to payment, advertising and privacy issues.

Advertising:
Internet advertising is just about a decade old but its growth has been second to none. Businesses are attracted by the fact that they can access a lot of customers while spending minimum. There are so many advertising options to choose from (websites, corporate blogs, e-mail marketing, banner advertisements, affiliate marketing), but unlike other advertising mediums where customers watch some advertisement, go to the market and try the product themselves before purchasing it, they have to rely totally on advertised material while making a decision in e-commerce. This is why advertisement should be factual, and not consisting of false claims. Prices (with clear mentioning of "including" or "excluding" tax) should be stated clearly. Customers should not be misled in any way.

Payment & Shipment:
Customer should take utmost care when placing orders after reading the terms & conditions. A confirmation for both the order and payment should reach the customers as soon as possible. Ideally, a printable receipt of the payment should be provided to the customers. Shipment must reach the customers in due time. Supplier is responsible for any damages which occur to the product in shipment unless the contrary is clearly mentioned in terms & condition.

Spam & Privacy:
Spam is the bundle of uninvited e-mails or messages, from some unknown businesses or persons; we receive in our inbox regularly. Internet spam is as old as internet itself. E-mail marketing is not illegal, but you need to clearly mention your contact details and an option for the recipient to stop you from sending anymore promotional messages. Another problem which internet users face is the violation of their privacy. User name and passwords, storing cookies on customer computers and data sharing with third parties are the areas where an extra cautious approach is needed.

How important is Customer Support Service for your online business

Every business has one thing in common i.e. it depends on "customers" to be successful. Customers make or break some business. In order to be profitable, businesses need to first attract, then hold and in the end maintain its clientele. Customer support service is the department which looks into these all important tasks of making sure that your customers do not go elsewhere.

Customer Support in Online Business:
The basic principles remain the same in both online and offline businesses but priorities do change. One area which becomes crucial in online business is Customer Support Service. You can fill your website with as many details, descriptions, FAQs, specifications and instructions as you want, and still the customers will be willing to communicate with you or your representative before they make some purchase. Not to mention its importance in dealing with the after sale queries. Staff should be fully capable of managing angry customers because the word of mouth spreads faster in cyber world.

Mostly three types of supports are used for online consumers; you can choose all three or any of them.

1. Email Support
2. Live Chat
3. Telephone Helpline

E-mail Support:
The most widely used, most convenient and a must for any online business regardless of its nature. You provide them with your e-mail address so they can write their complaints, concerns or comments in detail. They don’t need to wait for business hours and it gives the business and the customers, a chance to explain their position in a detailed manner.

Live Chat:
More and more businesses are now providing “Live Chat” option for their customers. Customers are not required to log into some specific messenger or anything like that. All they need to do is, click on the live chat icon and a new chat window will open, where they can type their message, which will be replied by the business representative accordingly. There are many free services available at internet to facilitate you in providing this feature to your customers.

Telephone Helpline:
Large businesses all over the world depend on telephone help lines as their primary source to provide 24 hours support to their customers. This method is a little bit costly and not really necessary for small businesses. However, this can be very effective if you are able to afford such service. Also this is the most express response your customer can get from you.

How to obtain ISO 9000 certificate for your wholesale business

ISO 9000 is a group of internationally recognized standards regarding quality management systems, laid down by the International Standard Organization. Previously divided into different standards like ISO 9001, ISO 9002, ISO 9003, they are now revised and combined into one simplified standard which covers all aspects, known as ISO 9001:2000. Another review is in process, but according to experts not many changes are expected.

Viability for your Business:
How important is ISO 9001 for your business? Or do you really need ISO certification? The answer to these questions depends on your nature of business and future plans. ISO certification can prove to be very helpful and is quite necessary if you are planning to go global. It provides your business with much needed credibility and improves your company's overall impression. If you are operating in a highly competitive market, ISO certification can be a competitive advantage. However, acquiring ISO 9001 certification is very expensive and it all depends on your business nature, needs and more importantly the availability of funds.

Will it improve your product's quality?
ISO 9001 certification has no direct affect on product's quality; it mainly deals with quality management systems. Although implementing these standards may improve the final product quality and reduce cost, it should not be used to measure a product's quality or business's profitability.

Obtaining ISO 9001 certification:
After the management has decided that having an ISO certificate can be fruitful for the business. Some senior person, who is well informed of ISO standards, should be made in charge of all this process. ISO certification requires businesses to write down all procedures, job descriptions, different department functions, etc in accordance with ISO standards. Next step is the implementation. Start with educating the employees; tell them about the importance and significance of ISO certification, once motivated, they should be directed on how they can help in acquiring certification? Perform internal audits frequently to check if everybody is following the procedures. Make corrective actions when some error is found. If needed, you can hire an advisory service as well.

Issuance of Certificate:
International standard organization (ISO) doesn't provide any certification itself. These certifications are issued by registered bodies that are entitled to do so. After some business has taken all necessary steps and their quality management system is in accordance with ISO guidelines, they can apply for the certification. Some representative from these registration bodies will visit the workplace or factory and observe the procedures. If satisfied, they will provide an ISO certification which is valid for three years.

Getting your home business financed

Businesses without funds exist only in minds. A brilliant idea is equal to zero without sufficient funds in hands. It is always a more satisfying feeling to start and fell short than dreaming of success all the time and never actually starting. Biggest obstacle for these potential startups is the lack of finance. If some unique idea has sparked into your mind and you are ready to give it a try then start with preparing a business plan and assigning costs, this will give you an idea on how much finance you need for this business. Next step is to decide your source of finance.

Commercial Banks:
Commercial banks are a good source of business loans when it comes to businesses that already exist. However, the chances that they will grant you a business loan for starting a business are quite dim. Nevertheless you can go for personal loan (sometimes even business loan) if your credit history is good. If you are able to present your business plan smartly and ensure them that you have got the experience and skills needed to turn it into a success, you will most probably get your loan application approved.

Venture capitalist & Traditional lenders:
Some investors want much more than what financial markets, securities or bonds have to offer. They are ready to take risk, when they see the chances that some investment can bring much more profits than any other investment alternative. Venture capitalists lend funds to small business startups, it’s up to you that how do you convince and lure these lenders into funding your business.

Government financing Small Businesses:
Another resort to get your home business financed is going to the small business administrations and development authorities of your country. These authorities and administrative bodies often provide small business loans to get started. They are keen to help small businesses because this industry can contribute a lot in the overall GDP and economy of the country. You can either choose debt financing or equity financing.

Personal Family & Friends:
Some online businesses really don’t need a lot of investment to get started. You can start with an initial setup of PC, telephone or fax machine placed in a small room. Some people will find it hard to borrow from their family members or friends but this is indeed a realistic option. You don’t have to go into formalities, just discuss your business plan and enthusiasm with the person (ideally your parents) and if he/she is convinced, you’ll be having cash in your hands instantly.

Additional resources:
Credit cards can be another option, although not good for long term financing. Other sources are finance companies and mergers. But the problem with these alternatives is that you are not totally independent in your business decisions, which actually spoils the charm of running your own business.

Factors involved in investment decision

The motive behind our investments is to make money and increase our monetary wealth. With so many factors involved, investment decision becomes a complex one. Small investors often go with their gut feelings when trying to choose among numerous investment alternatives. Big investors use various analyzing techniques. Globalization and the growth of internet have introduced many new opportunities and threats to ponder upon. When investing, you must remember that you are committing your assets for sometime, that is why you need to cover all aspects before making an investment decision.

Expected Return:
The most basic investment decisions revolve around the comparison of expected return and risk involved. No investor will take on higher risk if there is no chance of equally higher returns. Investors strive to reach on the best trade-off point between risk and return which go well with their financial requirements. These expected returns are not always equal to what an investor actually gets after some time. The possibility that actual return will not be the same what they expect is called risk.

Risk Factor:
There is hardly some form of investment which doesn't involve risk. Government securities come close to be called risk free; but even they have some risks attached to them. Risk actually is the balancing factor of the financial markets. Various types of investment risk exist, such as financial risk, currency risk, inflation risk or capital risk are the most common one. Different investors react differently to these risks. While majority of the investors are risk averse, there are some investors who are seeking more risky ones with expectations of higher yields.

Investor’s Hunch:
Every investor will finish off with a different conclusion although the market, economy and all statistical facts and figures are same for everyone. This difference comes from the investor’s intuition. Even the deciding process is different, some start from research; collecting lots of information and then analyzing to decide, others start from defining their objectives and then going for the options that suit their needs.

Globalization Factor:
Investors have slowly started to realize the advantages of international investments. Some emerging markets present better returns while other stable markets provide lesser risks. Investors have often conquered risk by diversification, and an international market provides more opportunities to achieve portfolio diversification as compared to a local market. Ignoring global markets for investment is turning your back on a whole new world of opportunities.