- Paperback: 382 pages
- Publisher: Seattle Teachers College Press (November 21, 2001)
- Language: English
- ISBN-10: 0979551501
- ISBN-13: 978-0979551505
- Package Dimensions: 8.8 x 6 x 0.8 inches
- Shipping Weight: 1.1 pounds (View shipping rates and policies)
- Average Customer Review: 72 customer reviews
- Amazon Best Sellers Rank: #856,754 in Books (See Top 100 in Books)
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How Small Business Trades Worldwide: Your Guide to Starting or Expanding a Small Business International Trade Company Now Paperback – November 21, 2001
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At some point in most careers one considers the idea of starting a business. Some people want to pursue a dream, some figure they can beat the boss at his or her own game, and for some people unemployment forces the issue. US Customs tells us most international traders are small businesses, and world trade continues to grow rapidly. Given the improvements in transportation and communication worldwide, inevitably now small business in USA has some international component...some more than others. Surely there is no safer investment for your time and money than self-employment. Surprisingly, for many who start their own businesses, making money is not always the prime motivator. Nonetheless, recent studies provide some remarkable information about self-employment: 80% of the millionaires in USA became so in their own career - 2/3rds are self-employed; the self-employed are four times more likely to be millionaires than others. It seems the most common career move in becoming rich is to become self-employed. This book now shows you how to build a business and takes you through the steps so you will know you can do it, and is structured so you may take positive steps after each chapter toward building your business. Surely you will finish the book before your business gets started, but by the time you finish the book, not only should you feel "ready to go", but actually be on your way. World trade is different from the domestic variety, and small is different from large business. Small Business International Trade has some specific challenges which this book illumines and solves. Starting a business is necessarily disruptive... but to what extent? Like the tennis pro who shows you how to get great improvement out of small changes, book assumes you can stand minimal disruption and risk. For those who desire to engage directly in world trade, and for those who are hired to do so, this book explains how small business trades worldwide.
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I have noticed some buyers say this is "out of date". I would like to note that if Human History began 24 hours ago, Christ would have appeared just 14 minutes ago, so not having an edited or revised edition since 2007(?) is not really that big of a deal. You could also go to his website (an incredible source of information btw) and read the updates (http://www.johnspiers.com/Writing_files/hsbtww10th.pdf) and also read his responses to why he has not published a revised edition since the latest release. Many authors, good hearted they are, must obey the publishers request for an "update" or "revised edition", even if it is not particularly merited, just to make more sales.
No doubt I would definitely love to see more books from this Author, especially his opinion and analysis on the emergence of Alibaba as a perceived dominant player in International Trade and how this effects the Import/Export industry. Until then, this book covers a coherent study of international trade, how to incept and source your product, how to get it into retail, and how to manage your business when it is up and running. On the reverse side he also translates this approach for the Exporters.
So many books on import/export are either full of the worst of business school filler and fluff or it’s all scammy get rich quick nonsense.
I have seen some complain that the book is 12 years old, but that is hardly any time at all in import/export. The idea that the popularity of Alibaba has some how changed the rules of the game will become obviously false as you read.
It’s obvious this author really knows his stuff. The book is well written too and I believe I read the whole thing in practically one sitting.
This book changed my views quite a bit and really opened my eyes. Some basics I was surprised to find out I did not fully understand, such as, what the real value of the importer is...to aggregate enough orders to justify a minimum run from an overseas supplier.
I was clearly falling prey to the “wanderer fantasy” and the “opportunist fantasy”. The author also illustrates some basic economic concepts using Austrian economics (perhaps the only school of economics I have found useful in real business...or perhaps that is my own bias). The difference between the Conservator and Innovator company is quite brilliantly illustrated. You will certainly understand why, trying to import socks and sell them to Wal-Mart is a DOOMED enterprise.
The only thing I wish was discussed more was exporting liquidations, overstocks, salvage and closeouts etc. I have been involved in this business domestically and was curious to know if exporting was a good opportunity or one of the areas in which newbies fail, such as makes which the author does a good job of warming, Liquidators are touched on very briefly at the end of the book, in that you should liquidate non-sellable merchandise as quickly as possible.
I have also known small business people who, allegedly, do well exporting used construction machinery. While it seems that dealing in the huge business of new lines of construction machines would be an insane project for the small business, is importing/exporting used machinery viable or not advisable? I’m still not quite sure.
But these are incredibly small points, and of course I can’t expect authors to write books with only me in mind.
Buy this book. If you have even an ounce of entrepreneurial interest you will find it impossible to put down. I’m off to read it again.
- Only 6% of USA retail is online! Go where the customers are - the 94% not online!
- Only 3% of what we buy in the USA is sourced in China! Yep - shocking but true
- As a small business Never! Never compete on price! You must be an innovator and compete on design!
- Focus on frequency of orders not volume
- Solve problems for your customers - give them something new
- The only meaningful order is a re-order
- If your customers are in the USA have it designed in the USA. Can be made overseas but design it here.
- The benefit of your insignificance - being a small business allows us to be agile, quickly experiment and find what the customer wants with little risk
- MOQ = Minimum Order Quantity - Small orders small risks. No need for finance!
- John will teach you how to use free online tools to search for the best place to have your product made
- LCL = Less than container load - you don't need to fill a container importing/exporting - again MOQ - frequency not quantity!
John Spiers has given us a book that has more knowledge than Yoda provided to Luke Skywalker! Buy it - read it - read it again and start your small business!