How To Avoid Getting Scammed When Searching for Products on Alibaba.com

Its important to conduct proper due diligence when conducting a transaction, most especially online. Fraud is an inherent risk in any business dealings, either trading online or offline. One needs to do due diligence when dealing with manufacturers and suppliers on Alibaba and other similar trade portals. one of the challenges to overcome will be the diversity in cultural perceptions and language barrier. I know how difficult it can be when negotiating and communicating with suppliers on Alibaba. There are lot of things to better your chances of having a good experience with the Chinese people, but it requires some energy. I have decided to share some tips with you based on my personal experiences and researches.

Things to Note when searching for suppliers online....

1. Many so called "Manufacturers" are actually Middlemen Sellers. Have it at the back of your mind that you won't be dealing with the actual manufacturers most times.

2. Everything is negotiable with the Chinese. Always try to get a fair deal and not a good deal. Negotiate in such a way that both parties would walk away saying, "That's Fair". If you try to squeeze the supplier's margin, you tend to starting out a partnership with one side feeling slighted. This has been one of the major reasons people get scammed. The supplier couldn't ship the product profitably, so they disappear.

3. If you ask 20 suppliers if they can make a product according to your specifications, they will all say yes. The truth is, maybe one of them can actually do that. But never take their words for it. Always ask for samples and references.

4. For every one product available on the Alibaba platform, there are tons of suppliers selling the same product. Always search around and get a few prices and samples, then compare to get the best.

5. Always remember that the Minimum Order Quantity (MOQ) on Alibaba is negotiable. Although, you may have to pay more for a lower MOQ. you need to decide what is more important: Limiting your risk by reducing your inventory or buying the product cheaply. The result of your product testing will surely help you decide.

Now, Here are the things you need to do:

Research
Carry out a research on the product you intend buying. Check out the market selling price, the varying levels of quality of the product, common substitutions etc. you have an adequate knowledge about the product before proceeding into negotiation with Chinese suppliers. While sourcing for supplier, it was suggested using Google translate to convert the product name to Chinese and using the Chinese term to search Alibaba or other Chinese trade portals. Chinese List price is always cheaper compared to the English list price. For example, the English list price for a football jersey was $15, whereas the Chinese listing was $7. Always Conduct an extensive research!

Be Clear as much as Possible in Your Communication
The greatest challenge of buying from Chinese Manufacturers/Suppliers remains Language. The language barrier is very real. Chinese speaks little or not English at all. They frequently use translation programs to translate, and in most cases mis-translate e-mails. This can make the negotiation process a little frustrating. Always use simple and straightforward English. make use of numbers and bullet points as they can be easily be translated without problems.


Introduction Email
When searching for a supplier, keep your initial email contact clear and straightforward. Tell the supplier the exact product are seeking, your expectations in terms of quality, pricing details, cost of sample unit and including shipping to your address.

Here is a sample of simple email to send to suppliers and which I use most often:

"Hi (You can put his/her name here if you see it on their page)

I am interested in finding a supplier for (Insert product)

I have several questions:

1. What is your price per unit?
2. What is your minimum order quantity (MOQ)
3. What available colors do you have?
4. What forms of payment do you accept?

In addition, I will require a sample to inspect for quality. How much will 1 sample unit cost including shipping to Lagos, Nigeria.

I look forward to building a great business relationship with you.

XYZxyz@abc.com"

Get Samples
Contact many suppliers and request for samples. At times, I get 5-10 samples before choosing one. sure it will cost me money but its probably one of the most important decisions you will make in the business.

Be Ready to Walk Away
As with any business negotiations, always be ready to take a walk. If the price isn't fair enough, walk away. From my experience, Alibaba suppliers would follow-up relentlessly, they will send an email with a better price few days later.


TIPS FOR CHOOSING AND RESEARCHING A SUPPLIER ON ALIBABA

1. Do they have GOLD Member status?

2. Check the suppliers company info. Do they have Telephone, website and valid email address?

3. Does their email address match the company name? Would you trust a supplier communicating with a Hotmail or Chinese equivalent email address?

4. Although, this really isn’t an option for many people, try to visit manufacturer’s factory and tour of the factory floor. If you can’t do that, at least pretend that you are considering coming and ask if you can set up a time to come by. If they say no, it might be a red flag.

5. Invoices should be clear, written in English and specify all clauses and guarantees. Does all the information on the invoice match the previous information you know and have collected about the company?

6. Check/search the forums on Alibaba: has anyone else been scammed? Is the manufacturer’s name mentioned at all?

7. What are the payment terms? Does the manufacturer accept Escrow? Escrow is the best way to pay suppliers on Alibaba. Safer than any other means

Conclusion
Completing all these steps and point can help you have a good business experience and avoid being scammed. Remember, there is no replacement for common sense. If something feels weird, walk away. If a deal seems too good to be true, it probably is.

Source: Nairaland

Must Listen - The Strangest Secret In The World- By Earl Nightingale

This is one of the most mind blowing Audios i have ever listened to, and i must say that it has completely changed my life.

 I thought it wise to share it with my readers too because i know it can change your life too, if you let it. So just sit down, relax and and this wonderful Audio by Earl Nightingale.

How To Register Your Business Name In Nigeria

Registering a Business name is one of the ways of increasing your credibility a business man or woman. Yet alot of people have no clue on how to go about registering their company/Business name, while some others think that it is going to be really expensive to register their Such Names in Nigeria.

Today I just thought I should share the steps/requirements to registering a Business name in Nigeria without hassles.

1. Go to the CAC office (Corporate Affairs Commission) nearest to you.

2. Obtain the availability form. (It costs N250 Naira)

3. Fill the form with two business names you wish to register (Your most preferred name should be the first)

4. Submit the form. You would then be asked to come back in 7 days’ time for the results if any of the names are available.

5. On your return back to the office you would buy a registration form for N250 Naira. You would also need two passport photographs and a proper means of identification. Fill the form and take it to the ministry of justice.

6. Go back to CAC and pay the sum of 10,000 Naira (Ten thousand naira only) for the business Registration.

7 Submit your form after payment and you would be told to check back after two weeks for your certificate.

That’s all.

Napoleon Hill's Legacy

Inspired by a suggestion by industrialist Andrew Carnegie, Napoleon Hill spent 20 years interviewing the most successful people of his day. He distilled their wisdom in the classic 1937 bestseller, "Think and Grow Rich". Entrepreneur and author Greg S. Reid has followed Hill’s example, applying some of his lessons in "Think and Grow Rich STICKABILITY: The Power of Perseverance". Citing examples set by today’s achievers, Reid offers these and other tips:

➻ Get along with other people. Success is not finite. Another person’s success does not compromise your potential, so take interest in others’ achievements. These same people will be more willing to help you along, as well.

➻ Don’t give up. Focus on the outcome rather than the struggle. You will reap the rewards when you have the courage and stickability to see your vision through.

➻ Stop procrastinating. Don’t allow self-doubt to stop you. The greatest achievers are those who seize opportunities when they present themselves. Have the confidence to take on an assignment that may seem overwhelming.

➻ Stay true. Let your passion and commitment become stronger than your fears. Understand that it is your job as a great leader to stand out and take the lead, which sometimes means bucking the status quo.

➻ Be a great leader. Leadership is not reserved for a special few. Leadership is learned, and involves facing challenges with composure and poise. Only then will you clearly see the solutions necessary to achieving your goals.

Currled From :success.com/article/napoleon-hills-legacy#sthash.QPo6KOhp.dpuf

Why You Don’t Own a Business Up Till Now

If you’ve been around for quite some time you would agree with me that the rate of unemployment in this country Is on the increase even as more and more graduates are being turned out yearly without a facility in place to offer them a job capable of sustaining them and their families.
With the way things are going, sitting down and thinking of what you can do with your own hands may be your best and only option.

The truth of the matter is that nothing beats being your own boss.
 

Here are some of the advantages

1. You define your own work hours.  
When you are your own boss, you get to pick the number of hours a day you work. This gives you more freedom and time for other things. Although you may only begin to enjoy this benefit a few years down the road after your business has been fully established
 
2. There is no limit to the amount of money you can make.Being your own boss actually makes the sky your limit as there is no ceiling to the amount of money you can make.
Let me tell you something that will shock you, “No employer has the intention of paying his employees enough money to make them rich” yea yea, you heard that right. So you see why doing something other than your salary paying job is the only way to go. I’m not saying you should quit your day job if you already have one and start a business, all I’m saying is that you need to have it at the back of your mind that your salary probably will not give you the breakthrough you require.
 
3. You don’t have to wait till the end of the month to get paid
 
One of the things that sucks about a day job is the fact that you have to wait for 30 whole days to get paid your salary which could be really be frustrating …. Trust me, I’ve been there. There is nothing like getting daily turnover, no matter how little it is, it’s still worth something. It has a way of boosting your morale and encouraging you to work harder towards making your business venture more profitable.
So then, why aren’t many people running their own business you may ask?
Well one of the primary reasons I discovered stopping people from starting /owing a business is the fear of starting. Sad but true. You may not want to accept it but deep down you know it’s true.
When you allow fear to grip your mind, you have simply allowed yourself to be stagnated because you would just prefer staying in your comfort zone rather than stepping out and believing that all things will work together for your good.
Even if you start your dream business and fail, you are not considered to be a failure until you stop trying.
Michael Faraday the inventor of the light bulb was said to have failed over 10,000 times before finally getting it right. And when he was asked how he felt about failing over 10,000 times, he replied by saying that he didn’t fail, he only learnt 10,000 ways of not doing it.
Not many of us will be willing to try that much number of times before giving up and who says you are going to fail that many number of times.
There is usually a lot of what Ifs associated with venturing into new territories.
You begin to have thoughts like…… what if it doesn’t work, what if I fail. So let me ask you, what If it works out, and what if you succeed Huh??? I guess you’ll never know until you try.

Martin Luther king jnr II said something that I totally agree with, here it goes “Just take the first step, you don’t have to see the whole stair case just take the first step”
Take a step of faith and start that dream business and just believe that as soon as you start, the universal forces will co-operate with you.
You don’t have to wait until you have those millions before you start, trust me if you do, you’ll probably never start anything.
It’s not a crime to start small, even the Bible tells us not to despise our days of little beginning. It only becomes a crime when you choose to remain small and refuse to grow.
Well with this few points of mine, I hope I’ve been able to open your eyes to the necessity of doing something with your hands and not expecting the government to do everything for you. Thanks.