Here's why you should get rid of lower-priced products?

A product’s reselling profit is generally fixed if competition arise. Pursue maximum profit without a bottom line will ruin your business, this is not the way an honest business should do. Being greedy is just as bad as cheating as your customers will not believe you if you had sold the bad products to them once.

Lower priced products don’t guarantee the quality is as good as higher priced products. Generally, when price is reduced, the product material generally replaced with lower quality alternatives to guarantee the profit of the seller. In the meanwhile, a lower priced products can leave a bigger profit margin to the sellers when they reduce the quality to a standard without a bottom line.

You can find many lower-priced products filled on the B2B e-commerce website. They just take advantage of greedy buyers' interest to push the price very low, the truth of these low-priced products are actually rubbish, they either malfunctioned within a few months or have a very short lifespan within 1 year. The repetitive replacement of the product means a higher cost. For example, if one product you purchased on USD0.5 last for half a year, you will need two on total usd1 to last a whole year, but what if the same product cost usd1 last many years, what is your choice? This is the phenomenon that many buyers are pushing the price very low to purchase those usd0.5 cost products not considering the product cost usd1 will last many years are actually cheaper. This is also the reason why actually big brand companies are not using B2B, because once they using it, they will need to combat a price war either sacrifice their quality to lower the price or actually doing a deficit business which is not a long term plan.

If big companies not using the B2B e-commerce websites, are they actually having a higher profit? Actually no. Take leeka corp as an example, they have the rule to set the maximum profit of the product 20% of the cost which is also including the tax. The corporation has well considered the market of their buyers, if their profit is high, that means their buyer’s profit is low or they actually selling at a high price. So, once their buyers sell lesser quantity products, that means the factory has lesser products to produce, so lesser annual revenue. So, it’s not a thing as you think big companies are having higher profit.

How do higher-priced products compete with lower-priced products? The answer is time. In a short time period, buyers may choose lower price products, but once they find the product is rubbish, wasting their time and causing a lot of trouble, they should think of better quality alternatives. Also, many buyers will choose higher-priced products first, they're smart, they will not take a roundabout route to choose the lower-priced product first. So when they actually choose the higher-priced products, they find the value. They find the higher-priced products are actually worth it. Take the above-mentioned example the product cost half the price are actually far more expensive as they have lesser using life than the higher-priced products. So this kind of customer will continue buying higher-priced products. In the long run, you will find the lower-priced product sellers are continuously losing customers and continuously find new customers, but the higher-priced product seller is continuously gaining new customers and old customers still continue buying from them. The advantage is the old customers have bigger businesses and new customers have smaller businesses. You will see in the long term, why the higher-priced product sellers are winning. That's why many big brands are none lower price sellers.

Starting a large solar plant? What you need to know

Have you met some cases when you start to make a project that many local companies start to compete with you some are even your suppliers who go directly to the project? In such cases, why need you? You're the resellers, if they go directly into the project, it means they turn directly into your competitors instead of your suppliers.

Don’t ask local companies even some of them are foreign company branches. The fewer people know the project, the less competition you will have, and finally, the bigger opportunities for you to win. The cases are if you asking from local companies or foreign company branches there, you’re providing them the business opportunities, with little research and investigation they will know where you want to sell the products, finally, you will be kicked out of the game.

Under such conditions, if you're sourcing from overseas, you will not only get better quality products but also be guaranteed project privacy as you’re the resellers. Purchasing solar panels from leeka corp can help you save not only the cost of the product but also many unforeseen problems, Firstly, they don’t set any foreign branches which guarantees 100% safety that you own the project on your own (vs some other companies that they set branches in your country to encroach your market). Secondly, they’re very considerate can give you the cost of products and shipment costs to your country to help you calculate the cost of importation. Thirdly, they have advanced production lines to output the best quality solar panels for big brands, you even can have solar panels on your own brands too. 

How to set the right cost of your imported products to boost your business?

If your customers told you that your reselling price is too high, you should ask about yourself first, “ had you set the right imported product cost?” Don’t always push your suppliers to reduce the cost, because their manufacturing cost is really really small. In case they can push the cost lower, it's only a small reduction. How it can compare with that you had made your reselling cost 200% of the product cost?

What is the best reselling price of your imported products? It's actually a problem of math, do it right. You will boost your business because more customers will buy the right price. Make it dauntingly 200% of the product cost will make your customers shy away from your products. Here below are few steps you can do to make a good reselling price of your imported products to help you boost your business on very good profit.

1)Ask your suppliers to give you a CIF cost. Suppliers generally won’t make money on freight and insurance, all they have is a very small profit based on the cost of the goods. So it's a freebie if you want CIF cost, you can save your time doing other things while they’re busy checking the freight cost with their forwarders.

2)Ask your forwarder the terminal port cost, tariffs, warehousing cost, their handling cost, and shipping cost from the terminal port to your location. Generally, your local agent can help you handle everything after the goods arrived at the terminal port to send the goods to your location. This part of the cost is generally exaggerated when importers ignored checking it with their agents, so they add a percentage of 30% to 50%, however that is actually not so much. So always check with them if you're the first to import and remember to check if you’re an experienced importer because something may change. Having an agent to help you handle the imports can help you with a lot of things, generally, all kinds of problems could be solved if they're very experienced. Sometimes, you even don’t need to import on your own company name, they can clear customs using their name if that can solve the problems. Don’t ask your agents to collect the goods from overseas, the cost could be higher than your supplier’s shipping agents. 

3)Budget your reselling profit. Don’t make it higher than 20%. A profit lower than 20% will make your reselling price more competitive, if goods are sold fast, you can import more containers. It's better than you make all your profit in just one or a few containers. 

Finally, your imported goods reselling price is clear. That’s your supplier’s CIF cost plus cost from your import agents(tariffs are included) and plus your reselling profit(if any tax, should include it in the profit). 

How it's leeka corp's solar panels?

Leeka Corp. is your most reliable supplier for your importing business. There are many other suppliers and manufacturers doing the same product, but leeka corp is considered the best as they have very good customer services and the best product quality guarantee.

Firstly, they have reliable products. Reliable means good quality and prices, reliable quality can guarantee you make repeated sales, and reliable prices can guarantee the actual buying of your reselling. Their solar panels are highly rated by many resellers and have been utilized in many big Megawatts solar projects providing a reliable electricity supply to the people using them.

Second, they're truly honest people with good business ethics. Business tricks are not helping your business, you want profits, right? They give you the lowest price the first time, no need to bargain. They control quality very rigorously even without you mention it, they expedite the earliest delivery even without you urge it. Business tricks are a thing not only wasting your time but also will change how you look like, if you see many old business people, they have a greedy appearance in their face that’s due to they always like to play tricks and dealing with strategy. This kind of appearance always makes them look not friendly, and they themselves also losing a lot of business opportunities.

Third, their solar panels are the best for commercial and solar project usages. Especially for large solar plants, the reliable quality and performance of their product will make you feel enjoying your life. So if you want quality guaranteed products, theirs is always the top choice.

Three big obstacles for your business to grow in 2021 and future

My friend Bob told me, one of his biggest regrets is the objection to business opportunities. He is currently the big boss of three successful factories. He told me his business could be bigger and he could retire earlier if he has the certain characteristics discussed below, here I call three big obstacles of business:

1) Unwilling to take risks. Everybody knows “without risk, without gain”, all companies existed because they're taken the risk. Actually, everything has a risk, including the food you take every day. But you need to live, right? People can take the risk, so they become the boss, people can’t take the risk so they become the employee thus every risk the boss will take it. Some people have found the poorest people are the ones most unwilling to take risks, they're afraid of change, unwilling to take the new, so they keep in one place doing the same thing all their life. How do you see the meaningness of their life? When people start to take risks, they accept the change, take the new things, which fundamentally changed their life. They become rich and successful.

2) Don’t trust people. How can others trust you if you don’t trust them? Your employees will leave you if you don’t trust them, your business partners will let you go if you don’t trust them. The worst thing is if you don’t trust, you will not take action. These psychological effects have made many people lost the chance to change their life. It’s not about how much it will impact others if you don't trust others, it's about how much it will impact yourself if you don't trust others. People's life takes change only when they have the work with others, it’s about things others will bring to you, not how much you will bring to others.

3) Unable to make your own decision. There are too many historical testimonies the generals failed the war because they're unable to make their own decision. Firstly, the thing is yours and the business is yours, if you can't make your own decision you’ll become the puppet of other people's opinion. As bystanders, other people will not responsible for your failure if you take their opinion, they'll feel good if you take their opinion which is their view of your situation without the guarantee to lead you to the right or wrong. When you're in your own situation, you always know better than others, that's why you should always make your own opinion.

Why you should start an import business?

According to research, import business is one of the most profitable businesses across the world. An importer can become rich in a short period of one to three years according to the products they're selling.

Here are the most noticeable advantages that existed in importing business:

1) Import businesses have a lower risk than you purchasing the products from your locally. Why? Because import business is bringing you the best manufacturers, suppliers in the world. Not all companies are exporting, only those that have very good products and have good company sizes are doing exporting. If you sell products locally, the sales cost may be 1, if you export the products, the sales cost would be 6 or 10. That's why not all companies can do exporting because it's the higher cost of sales. 

2) Import businesses bring you more competitive products for you to compete with the products manufactured locally which can allow you to compete with your local factories. This is a good thing, if  without competitive products, your local factories could take over all the markets, how could your business make a living? Also, imported products can arise the competition awareness of your local factories to help them improve the products. This is also a good thing, if without imports, your country maybe not developing. 

3) Import business can make you earn a lot of money by reselling. As imported products have more advantage than produced locally, more people will buy it. Thus you could sell huge and earn a price difference, which is also called profit. For example, for one solar panel you earn 1 dollar, if you sell thousands of them and repeat the sales, it will be a lot of money.

4)Import business can help people in your country get the products they couldn’t get locally. For example, led lamps, if there is no technology and factories existed in your country. The only way is to import them. Products like lighting are a crucial need of people’s life same as food and water. 

5)Import business can help you make a lot of foreign friends to help you learn a different culture. It’s also a miniature of diplomacy, what you do is the face of your country. So always act like a gentleman, don't be greedy, don’t make your country losing face.

6)Import business is a pleasant experience both psychologically and practically. You’re dealing with many great people, they respect you and providing wonderful service even you buy a small amount which was always disdained by local sellers.

How to choose a solar manufacturer for your wholesale business?

If you’re looking for the best solar brands that could support your wholesale business in the long run, you’d most probably looking for a factory that can support you on good pricing, provide valuable products, and excellent customer services.

Customer service is always the key, don’t buy from big solar brands with high profiles, which will make you like a son begging them during all the process. Buy from the corporation that respects you, you can choose many big corporations from their email outreach, which also testifies they have good customer services.

A factory that can produce in your brand could help you a lot in your business especially you’re just starting. First, make panels in your own brand could help you increase the brand awareness of your business, which could bring you a lot of potential customers to support you in the long run, helping you save a bunch of advertising costs. Thus, you could sell repeatedly on recurring profits. Secondly, you won’t want to sell the same brand that your competitors are doing in your market, make your product special and differentiate it from them can make a way for your living. Your own brand is the way to differentiate your product from others. Third, your own brand can gain more customer trust, it's not only the good impression that the panels bearing your own brand but also you’re not a reseller of other brands.

B2B portal is the cheapest way to start a business, from b2b portals you could find many small suppliers, the price could be very cheap but quality could be very bad. Start from one single product especially when you have a limited fund, that's always what small manufacturers do and you should learn, big corporations are doing many products in different industries as they're very powerful.