How can I stay competitive among the local competitors as an agent importing foreign goods?

20-100k/day depending on their size - it's a big investment. Why don't we hop on a call to discuss further and next steps to help you target them?

Hello! I am a former automobile dealer, and I had an auto repair shop, body shop, and licensed vehicle inspection station in central Missouri. I am very familiar with this industry. I entered this market at the wrong time, grew quickly, and hit the Great Recession at the wrong time. My goal was similar to yours, to wholesale vehicles, but also to export classic cars to the middle East. Canada is a great source for people here, because the prices are in fact lower for US buyers. I am still somewhat involved in the automotive niche, and I even recently purchased a replacement engine on a Scion from Canada because it was about one third of the price that I would have paid anywhere close. One thing you mentioned that stuck out in my mind is focusing on SUVs and trucks. When you specialize, you create your biggest potential. If you can create a name for yourself for supplying a particular size of truck, say a 1/4 ton pickup with an extended cab, you might be able to connect with volume buyers who are looking for low cost alternatives to buying new. This could be municipalities with tight budgets, small transport companies, service industry companies, etc. Once you find a hot niche, word could spread fast, and if you've mastered the supply side, you will be able to move vehicles super fast. And if you have the capability of doing some mechanical upgrades on the vehicles before you sell them, you'll make a greater return on your investment. One example of a hot niche is Jeep Cherokees in Colorado. Cherokees sell for 20% to 30% higher in Colorado than what they go for in the Midwest. I know of a person who did nothing but purchase Cherokees and fix them up for selling in Colorado. He had a very solid business. The advantage to focusing down on a very tight selection of vehicle models is knowing what to expect. You'll know what parts are likely to be worn out at a particular mileage, where these vehicles tend to rust first, what mechanical issues are common, or electrical problems that you can run into. When you are wholesaling and buying anything and everything, you'll heighten your chances of getting burned. I've been there myself, and learned some hard lessons. At the end of my run in the business, I wish I could have hit the rewind button and only scoped out a narrow variety of vehicles that I had the most knowledge on. I plan on re-entering the business soon. I've got a particular car in mind, the 1995 Ford Mustang. I rebuilt one of these, and I know all of the gory details for this car. Right now, they are a dime a dozen, and you can find them everywhere. My plan is to restore them and sell them, because this body style and the Fox body are the next ones which will become "nostalgic". Drill down and find out which pickup truck is your best prospect. Factor in common problems, cost of repair, and demand out on the market. Then stick with that model within a certain range of years, and make a name for yourself in that niche. You are guaranteed to have better success if you take that approach!

It all depends on what one decides to be a definition of a "success story." For some entrepreneurs, it might be getting acqui-hired, for some -- a $10M exit, for some -- a $200M exit, and for others -- an IPO. Based on the numbers I have anecdotally heard in conversations over the last decade or so, VCs fund about 1 in 350 ventures they see, and of all of these funded ventures, only about 1 in 10 become really successful (i.e. have a big exit or a successful IPO.) So you are looking at a 1 in 3500 chance of eventual venture success among all of the companies that try to get VC funding. (To put this number in perspective, US VCs invest in about 3000-3500 companies every year.) In addition, there might be a few others (say, maybe another 1-2 in every 10 companies that get VC investments) that get "decent" exits along the way, and hence could be categorized as somewhat successful depending on, again, how one chooses to define what qualifies as a "success story." Finally, there might also be companies that may never need or get around to seeking VC funding. One can, of course, find holes in the simplifying assumptions I have made here, but it doesn't really matter if that number instead is 1 in 1000 or 1 in 10000. The basic point being made here is just that the odds are heavily stacked against new ventures being successful. But that's also one of the distinguishing characteristics of entrepreneurs -- to go ahead and try to bring their idea to life despite the heavy odds. Sources of some of the numbers: http://www.nvca.org/ http://en.wikipedia.org/wiki/Ven... https://www.pwcmoneytree.com/MTP... http://paulgraham.com/future.html Here are others' calculations of the odds that lead to a similar conclusion: 1.Dear Entrepreneurs: Here's How Bad Your Odds Of Success Are http://www.businessinsider.com/startup-odds-of-success-2013-5 2.Why 99.997% Of Entrepreneurs May Want To Postpone Or Avoid VC -- Even If You Can Get It http://www.forbes.com/sites/dileeprao/2013/07/29/why-99-997-of-entrepreneurs-may-want-to-postpone-or-avoid-vc-even-if-you-can-get-it/

#1) PROVE THE ASSUMPTION: Start with a dropshipper's existing products to figure out what sells best before you spend money on manufacturing and warehousing. Amazon is perfect for this - they will pay you 4%-10% to promote 253,000,000 products (http://bit.ly/1q2M85R) - you can sign up at https://affiliate-program.amazon.com/ Alternately, get very small amounts of the product (maybe even just buy some from a competitor) and try selling them on ebay and amazon. Nothing hurts more than having $50,000 of imported product gathering dust in your fulfillment warehouse while listening to a voicemail from a debt collector. #2) SOURCING There are several options here. Many people prefer Alibaba.com. Warning - if you use Alibaba, you are stepping into a tank of pirahnas. There are more scam "manufacturers" on Alibaba than real ones. Use Escrow or AliSecure Pay if you buy. If the supplier says they only take T/T, Western Union, Moneygram - just say no! I prefer American Made when possible. If you're like me, try Ariba's Discovery Service - http://bit.ly/1q2NFZu - which will allow you to find suppliers with a physical presence in the USA. Note: Many things can be made on demand (someone purchases, one gets made and shipped) instead of in 500+ manufacturing runs. Start there if you can - Books on CreateSpace.com, Clothes on CafePress.com, Playing Cards on MakePlayingCards.com, etc - to test out your exact product. #3) START YOUR SITE This is an entire topic in itself. One of the fastest ways I know for newbies to start in e-commerce is with a SquareSpace.com store. Other options include GoDaddy.com and BigCommerce.com. If you can stand to use the templates they provide instead of trying to customize them, you'll save yourself a lot of hassle and expense - customization usually looks terrible unless a designer/coder was hired to do the work. If you do customize, find someone on odesk.com or elance.com. #4) MARKET Figure out where your competition is advertising. Are they getting free, "organic" SEO results on Google? Using social media to drive billions of dollars of sales? (NOTE: That was a joke - don't count on social media as the nucleus of your marketing campaign. Please!) Are they paying for Google ads ("PPC"), buying email lists, using strategic partnerships for promotion, relying on shopping portals, using banner advertising, or something else entirely? There's probably a good reason - figure out what it will take to play in those waters. At the same time, try to find a small enough niche that you can win in it. #5) BEWARE Be careful about artsy things. If someone is attracted to something artistic, it's usually because there is a story behind the art for them, or because it's cheap. If you're going to try to sell artistic things, you may want to consider doing some serious research first about who has been successful in that area. Look at etsy.com to see handmade artsy items (very cool). #6) WORTH A LOOK Worth checking out as you start your journey: Art.com, yessy.com, Artfire.com, ArtPal.com #7) DEEP FOUNDATION If you need help, reach out for a 15 minute call and we'll discuss a go-to-market strategy specific to your goals.

Great question. You should definitely not drop the idea if you think that it is worth pursuing. Just like you need the tech-founder, he needs a business founder with a dream, and the passion to make it succeed. I suggest that following: 1. Do market validation/ POC to see if the idea has potential (get a general idea of how here: https://clarity.fm/questions/6423/how-do-you-do-market-research). 2. If it shoes potential, start looking for a tech-co-founder. There are numerous ways (try these): www.meetup.com www.founderdating.com www.cofounderslab.com http://www.founders-nation.com www.founder2be.com Linkedin... 3. Do a trial period + sign a founder's agreement. Happy to help you with any of the above once/if you need. Good luck! I've successfully helped over 350 entrepreneurs, startups and businesses, and I would be happy to help you. After scheduling a call, please send me some background information so that I can prepare in advance - thus giving you maximum value for your money. Take a look at the great reviews I’ve received: https://clarity.fm/assafben-david