In one of our previous posts, we listed 6 preorder mistakes one should avoid while considering preorder model of mini importation. In this post, we will outline and emphasize things that will guarantee you running a profitable preorder from China mini importation.
This post will be like an updated or simply put a revised edition of our previous article. Note that these are not from assumed dogma but rather from our experiences together with our customers.
Before we start, Freightya is a procurement and logistics company. We help you and other businesses to buy from China and as well as ship from China to Nigeria. To learn more about what we procure and ship to Nigeria, contact 2347082111555.
What does it mean to run a profitable Preorder from China importation?
There are many fears whenever one mentions preorder from China. It is a like a shock. This shock could be a result of many unanswered questions.
What do unanswered questions mean in this context?
Whenever one fails, it leaves a question. Every failure lies in the ignorance of what could have made it not happen in the first place.
Let’s take for instance.
While writing this article, someone wrote to me about a slide she just bought from 1688 similar to this image. She paid for two pairs.
¥23.7 yuan is equivalent to ₦2607. According to her, she was charged 2.2kg for the two pairs.
She put it for sale for ₦5000. She was worried about why it weighs that much. I was terrified when I got to hear about the weight too.
I checked one of the pages for the slide and saw 1kg as the weight. Two pairs are likely going to weigh 2kg excluding packaging.
In her words, “Then they are saying China is cheaper. It is even the same amount in Nigeria. cus this shoe is sold for 8K in Nigeria”
Why all these?
I am very certain that this has left a stigma in her about China importation talk more about preorder. That is where many unanswered questions come in.
- They say China is cheaper, what really makes it now cheaper?
- Why am I not making a good profit from this so-called slide?
- They charged me almost 12,000 just for two pairs of slides, can you imagine?
- I even paid more on shipping from China to Nigeria than what I bought them, how could it be possible?
- Is there anything that my friends that sell them are hiding from me?
These are the instances of such unanswered questions in this very case.
So, how do I start making profits from 1688 preorder business?
Sadly, we may not give you an abracadabra update on how you can make money running a preorder business. We are going to give you steps that will guarantee profitability as long as you diligently follow them.
- Slow it down and subscribe to Learning
- Build capacity for managing people
- Identify something of a passion and narrow it down
- Refine your know-how
- Put in all the effort
- Build capacity for financial management
- Forget about the numbers and be consistent
- Spread your heart to continued mentorship as you scale.
You’re probably disappointed at this point.
But the catch is, if you still follow me at this point, it simply means that you want something more.
Proverbs 23:7 – ‘For as he thinketh in his heart, so is he.’ It promotes rightful thinking.
Napoleon Hill best selling book, Think and Grow Rich did not say “Import and grow rich” nor “sell and grow rich”. Everything starts at the consciousness of the mind.
Every success is a visible expression of the thing of the mind to the things we see. It first became a success in the subconscious mind before others could see it.
That is one reason why people say “You are what people call you”. When you think it doesn’t make, everyone is going to sync with your idea too.
So, why mindset?
Some people would say according to their own bad experiences or what they hear other people say that mini-importation doesn’t work.
“The agents are just going to take your money and let you suffer losses”
“The shipping fee is even higher now, talk more of dollar and RMB rates. How does one even make a profit?”
“How am I sure they will not scam me?”
The side effect of these is that the more you think about them, they compound more and now give you many reasons why you should follow your mind.
To start a preorder business, your first consideration is who is doing it. Who is profitable doing it?
If you could see five people who have built a brand doing it, I believe you too can do it. Shut down the doors of excuses and negative thoughts and think positively.
Slow it down and subscribe to Learning
Hebrews 7:7 – But without any dispute the lesser person is blessed by the greater.
Not to be sarcastic, but the first thing to do shouldn’t be to pay for a 3D WhatsApp profile picture, downloading of WhatsApp Business app, or get a new business name.
All these are quite formal and nice but may not be too necessary at the moment. Not to downplay your zeal to get started and make millions.
The first thing to do is to create a comfortable environment by building a positive thought pattern.
It then continues by subscribing to learning. Rushing to make it doesn’t mean you will not make more if you have stayed to learn.
There are two teachability indices
- One who is too eager to learn
- The other who won’t be patient enough to finish the learning process.
The implications are notable in learning. The one who is too eager to learn would tend to consume a lot more than doing the work. This is evident when one joins every preorder group, and downloads all the videos and pdf available without taking a single action.
While the other couldn’t control his or her desire to start preorder from China. She wouldn’t complete a course or a mentoring program before assuming perfection.
The lessons you learned during the training are what keep and maintain your progress. If you admire someone or a role model in your business line, buy their courses and listen to them always.
Doing this helps you to buy their mindset of doing business. Always be ready to learn. If you can work for them for free, great. Work and learn something for free from them.
Preorder is not going to run away. Money flows in the direction where there’s value.
Build capacity for managing people
James 1:19 NIV – My dear brothers and sisters, take note of this: Everyone should be quick to listen, slow to speak, and slow to become angry.
One of the major challenges for any business or organization is managing people. That is the most reason why a company employs ten employees and sacks eight in under one year. The iteration is unending.
When it comes to the mini importation business, one of the hardest challenges is managing customers. Customers are always right, remember.
How do you manage your customers?
People are very sensitive. It requires a sensitive skills to deal with them.
You must create a boundary to how your business works. It should clearly be stated.
For your preorder business, it is very technical. You are typically an errand girl or even a boy.
The money is not yours.
The products are not even yours.
You are not even sure about the outcome of the products.
You are not even sure of the timeframe to get those goods.
That is why you need to create a boundary.
Here are things I believe can help you
- Draft a policy around your preorder business. This can cover the starting date and the closing date of your preorder. Any order that comes after the closing time won’t be counted instead it will be moved to the next batch. This can help you to manage efficiency.
- When you tell others that your current batch has ended yet still compromise for the sake of how much money you will make, a few may not take your words as being sound.
- When making decisions on the shipping time, be very clear with your customers that shipping time is always expected. There is no assurance of what the freight forwarder may tell you.
- There are logistics challenges like airport flight delays in China, postponement of flights, Shortland, and customs delays in Nigeria, Let them know about these inconveniences. They are beyond your control.
- Create a no-refund policy. This should only be effective after orders have been shipped. Once orders have been shipped, there will be no option for a refund. Refunds could be only when they do not like what you sold to them.
- If you must, buy and test what you sell. This can reduce frustrations from your customers. The easiest way is to deal with a few suppliers. If you can get a good item from a seller, the possibility of all they sell being good is decent.
- If you plan on letting your customers pay for the shipping fees, work more on sharing the weight accordingly. Sometimes, it becomes very hard to charge customers according to what they bought.
- To me, it is very professional to charge them twice – paying for the goods and paying the shipping fee. It is effective to charge them everything at once to avoid fighting over who has paid for the shipping fee or not. It is quite discouraging when a certain group of people has refused to pay for the shipping fee. It becomes your burden.
- Be quick to listen, slow to speak, and slow to become angry. Avoid being emotional with your customers. Let them pour out their frustrations, do not intercept.
- Read books on leadership. The Power of Character in Leadership by Myles Munroe, The Spirit of Leadership by Myles Munroe.
- Jack Ma says “Customers are the most important thing in any business. You serve them well, and they pay you well”. There is no basis for the term “I am self-employed. I work on my own terms not for anybody”. Even at that, that is where you create a business policy. Customers they say are always right. Your policy is what gives you a shield against ill-attitudes from customers. It is always bound to happen.
Doing these can help your mini importation business.
Identify something of a passion and narrow it down
“Hard work without a purpose is a distraction”
This evening, I read an article about self-discovery and purpose. It tried to point out that any hard work that is not channeled alongside purpose is simply being busy doing nothing.
It used a rendition of a laborer that carries 10 bags of rice for a penny pay compared to the owner of the truck of rice. One is living his life dream while the other is being used at a consent.
- Narrowing down saves you time.
- It makes you stay ahead of game
- You spend less on marketing
- It makes you a plug
- It broadens your passion to find new innovations
- It keeps you focus rather than being confused about what to do
Refine your know-how
2 Timothy 2:5: And if a man also strives for masteries, yet is he not crowned, except he strives lawfully.
Importation from China is not entirely how to buy cheap items from China nor learning how to copy links.
There is more to it when it comes to mastering China mini importation.
Four things you need to know beforehand are that buying from China requires you to know the
- The price of what you’re buying in Naira
- The quantity of what you are buying
- The weight of what you are buying
- At what price will it cost you to ship them from China to Nigeria or any country?
These four things play a very important role in your mini importation journey. They will determine how well you will do.
It is safer to understand their impact at their independent levels. You don’t necessarily need to buy from 1688 simply because the price is cheap.
Before making any purchase, you must make sure that the four factors above are met. Else, you may end up paying more than you can even buy in your country.
Quantity and weight determine how much you are going to spend on shipping. Not how cheap it is. The cheaper price is great but the total cost (landing cost) doesn’t only depend on just the cost of the goods.
That is part of the mistakes most people make. They cry over spending more than they bought the items. Your customers refuse to pay for shipping because they got overwhelmed over double-spending.
Get the item price first, then weigh it with how much it will cost to eventually ship them to your country. If the calculation does not make sense, you abandon it and look for other products. I extensively explained this in our Mini importation Preorder Mastery course.
It is very dangerous to import blindly with the feeling that the weight won’t be much or the total money will be shared by your customers just because you are doing preorder. Do you have access to their financial well-being?
Groom yourself to be a master. It pays to know your onions.
Proverbs 22:29: Do you see a man skillful in his work? He will stand before kings; he will not stand before obscure men.
“Whatever is worth doing at all, is worth doing well” – Philip Stanhope
Put in all the effort
John 13:17 NIV: Now that you know these things, you will be blessed if you do them.
Just yesterday, I saw someone write on Facebook “Please recommend 7 financial books for me just finished the one I have of recent”
Why extra 7 books when you have studied the principles of one?
Is there any profitability in buying what you cannot consume? That is a social validation people ignorantly seek for. It is quite bloated in the sense that it only gives one an assumed significance whereas nothing speaks for it in real life.
It is great to learn. Learn as many as you could not count but pause and apply them to the action. It is like a preacher that preaches what he does not practice.
Many mini importation enthusiasts join numerous free groups over and over again. What are they looking for? Obviously nothing.
The implication is that it leaves one in the oblivion of being confused. That is thee more you look, the less you see.
I have written more than 20 articles on mini importation. Reading five articles alone will get you started to mastery.
Jack Ma says “If you do not want to give up everything, you will get nothing.
Learn it, try it today.
Build capacity for financial management
Luke 12:48 – to whom much is given, much will be required.
The hardest thing about finance is not in how much money one makes but in how much one was able to keep and multiply.
Financial discipline controls how one takes responsibility for how one spends money. It is like being on a tight budget. You are restricted to the things you buy.
Financial intelligence controls how sensitive one is to spot sharp business opportunities and take action.
Now that you have learned building a positive mindset around your idea is a 50% solution. You have understood that subscribing to learning widens strength in progress.
It is very wrong to spend any profit made from your preorder business. I have seen people spend what they made even when the goods are yet to leave China.
I have also seen those who spend their profit by buying extra products for themselves. “Let me buy for myself too”
That is cheap carelessness.
First, you need a separate bank account for your business. It does not cost a penny to open an account now. Free bank accounts like Opay, Kuda, Moniepoint, Palmpay, Alat etc.
Get a separate bank account that has no atm card. It is just your business only.
Secondly, do not share your personal money in your business dedicated account. Every credit and debit should be for your preorder business.
At the end of each batch, leave the profit in your bank account. Do not remove anything from it. Be disciplined enough to respect that business account.
Doing business is a conscious risk. There may be some inconsistencies that may subject you to spend.
- A seller may not send the correct colour or size of what your customer demanded
- A seller may not even have the full quantity of what you paid for.
- What you sold was not exactly what you assured your customer.
In any of these cases, you may be subjected to a refund. In a case where you have spent all that you have made, it now looks like you did not know what happened to your preorder batch.
Take accountability for your finances. Once a batch is successful, reinvest the money you made into another batch.
That is a little secret in finance that guarantees sustainability.
Forget about the numbers and be consistent
Job 8:7 – Though your beginning was small, Yet your latter end would increase abundantly.
What guarantees sustainability is consistency.
You may start your preorder batch and nobody shows up, it is okay.
Jack Ma says “If you want to be successful in your business, you don’t need to think profitable the next month or the next year. Think about the next 5 years unless your father is a millionaire.
It is very discouraging when people do not show up. Jack Ma also said, “When people help you, that is unusual. When people do not help you, that is normal”. Always be ready to be rejected. When they reject, or ignore your preorder, you still believe in yourself.
There is no shame in making efforts. Someone who makes effort and failed is far better than one who has never tried anything.
There is always thing to learn.
Here is what you may do to build buyer’s confidence.
- Create a WhatsApp group
- Make deal with your best friends.
- Let your family, best friends make deals with their best friends
- Meet more people and make friends with them
- Repeat numbers 3 and 4
- Now, the deal is to promote your business. They possibly would get rewards for any person that buys through them
- When you start your preorder batch, let them create an “assumed buying interest”
- They will indicate interest and send proof of payments to the group chat. Money always flows in the direction where there’s attention. That is how celebrity makes money.
- Few people would be pushed to join the sales.
- Let them share your links on their statuses.
The challenge would be that some of your friends may envy your growth and decide to create theirs. It is natural. Good things create conflicts.
Try your best to make this a point of discussion at the beginning. If there’s room for collaboration, great.
I have never shared this before, it is something you should consider.
Spread your heart to continued mentorship as you scale.
- Go for seminars,
- Attend live shows,
- Meet people,
- Buy courses.
If you found this useful, let us know in the comment section.