New foreign trade SOHOs often face major decisions in product positioning and supplier selection. This process requires careful consideration, as product selection should be consistent with funding conditions, and supplier selection is critical to product quality and reliability. This article provides guidance on product positioning and supplier selection for new foreign trade SOHOs to help you gain a solid foothold in the industry.
1. Positioning products based on funding conditions
The initial investment in the start-up phase is mainly concentrated in customer development, proofing, stocking and delivery. Given the large initial inventory, advertising and sample cost expenditures, foreign trade SOHOs should be cautious in product selection. It is not advisable to consider high-end products for the time being, as they occupy too much capital, have a small market audience, and it is difficult to break through the order volume in a short period of time.
2. Choose new industries or traditional industries
Regarding the choice of product type, it is common to be entangled in the selection of new industries and traditional industries. Although emerging industries have broad prospects and attractive profits, competition is fierce. However, SOHO companies that have just started are more suitable to choose some traditional industries, because their technology is mature and the market is relatively stable, which is more beneficial for learning and accumulating experience.
3. Choose products based on suppliers
In addition to attracting customers, it is also crucial to find reliable suppliers. Reliable suppliers are crucial to SOHO companies. Only reliable suppliers will provide patient responses to your questions such as sampling and price inquiries. If you have selected a product but cannot find a reliable supplier, you need to consider whether to give up the product. At the same time, the selection of suppliers also needs to be maintained regularly, and the relationship is long-term and not one-time.
Novice foreign trade SOHOs need to make careful decisions in the process of product positioning and supplier selection. Positioning products according to financial conditions, choosing new industries or traditional industries, and the selection of reliable suppliers will have a profound impact on the development of the company. Careful evaluation and selection will help the company to develop stably and lay a solid foundation for future success.