Do's and Don'ts for export import business starters

Here is the Do's and Don'ts for export import business starters.

Do's:

1. They should know how to prepare legal and proper business documents.

2. They should know how to select favorable payment term.

3. They should know terms and conditions of the L/C or sales contract.

4. They should know how to do marketing costing, documentation, customs, banking and shipping procedure.

5. They should know government policy, rules and regulations.

Don'ts:

1. They should not export the products with poor quality and packing.

2. They should not avoid pre- shipment inspection for the export- import consignment.

3. They should not start without knowing how to select buyer, seller, products and countries.

4. They should not delay to arrange the shipment and should not delay of presentation of export documents as per contract.

5. They should not avoid business commitment, sincerity and honesty.

6. They should not start without SWOT analysis.

7. They should not start with deferred payment method.

8. They should not start with big investment.

9. They should not practice under and over Invoicing.

10. They should not appoint any unprofessional personnel.