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2024/05/13

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Foreign trade SOHO business has been frustrated repeatedly? You may be lacking these necessary prepa

Foreign trade SOHO is very attractive to most foreign traders. Because on the one hand, foreign trade SOHO means that all profits generated from transactions belong to the foreign traders themselves. On the other hand, foreign trade SOHO also represents freedom to a certain extent. But obviously, it is not easy to successfully realize SOHO.

Many foreign trade people often choose to give up SOHO due to various reasons after trying it for a period of time. A large part of the reason for this situation is that most foreign traders have not made the necessary preparations for SOHO.

Capital reserve

Relatively speaking, the start-up cost of foreign trade SOHO is relatively low, but it also requires foreign traders to have a certain amount of capital reserves. On the one hand, foreign traders need to protect their daily expenses. On the other hand, developing customers, promoting marketing, etc. also require costs. Therefore, a certain amount of capital reserves is essential.

In addition, you also need to fully do financial planning and risk management, including reasonable budgets and capital plans, to ensure that there are sufficient funds to support the operation and development of the business.

Full understanding of market research and positioning

Before starting SOHO, foreign traders must first conduct a comprehensive understanding and research on the target market they are interested in. This includes understanding the market’s trade policies, laws and regulations, cultural practices, consumer habits and competitors. Because only after you have conducted in-depth market research can you better grasp the market dynamics and find a development direction that suits you.

Identify suitable products and services

Choosing the right category is a key part of the success of foreign trade SOHO. Before you choose products and services, in addition to considering your own professional knowledge and experience, you also need to fully consider the needs of the target market. In addition, you also need to pay attention to the product. quality, price and competitive advantage to ensure you can meet your customers' needs.

You can use trace data to check the trade data of the target country. If the transaction volume of a category continues to rise and the number of suppliers continues to increase, then to a certain extent, this means that the trend of this category is upward. But if the trade volume of a category continues to decline and the number of buyers decreases significantly, foreign traders should be cautious about whether they should choose this track.

（Source：ueedata）

Supplier

Without suppliers, there is no supply, and without supply, transactions cannot be completed. Therefore, before foreign traders carry out SOHO, it is best to find 2 to 3 suppliers and maintain good relationships with them. On the one hand, this can help foreign traders achieve stable supply, and on the other hand, it can also create a good reputation.

Customer development experience

It is difficult for most foreign traders to take away customer resources from the original company. After all, customers value the company's strength more than the foreign traders themselves. Therefore, when foreign traders SOHO, they need to develop new customers, which puts higher requirements on the customer development capabilities of foreign traders.

If you want to know more about foreign trade SOHO skills, you can send us a private message~

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