A merchant exporter does not manufacture a product but exports after sourcing it from the manufacturers in the domestic market. You may come across many success stories of such traders and get inspired to become a successful merchant exporter yourself. However, inspiration alone is not enough, you need planning and vision to make it happen. Although all business call for in-depth domain knowledge, export business in particular demand more. Absence of proper research might burn your fingers and make it extremely difficult to move forward.

But rest assured, learning the following 9 rules can make you the next big success story. This article has compiled the top nine keys that top merchant exporters have applied in their business and have become successful.

1. Know your product inside out: As an exporter, detail knowledge of the features of the products, its technical specifications, and its usability is absolutely vital. You need to be aware of whether the product breaches any law in the country you are exporting to. For instance, child labor involved in the production of carpet you are planning to export to Europe can lead you into trouble.

2. Have a trustworthy source of your product: The merchant exporter should evaluate the manufacturer’s capacity and should develop good relations with them before taking orders in the international market. You must make sure that they are able to manufacture the product in the given time ensuring a scheduled delivery.

3. Your purchase order should be prepared on the basis of the order received from the overseas and not on assumption. The exporter should not give undue importance to the price at the time of placing the order.

4. Always have a plan B to source your product: There could be many unforeseen factors that could become hindrances for delivering the product on time. So, keep a backup plan and information about alternative suppliers handy. Generally, you should keep more than one supplier to maintain the consistency of the business and reduce dependency.

5. As an exporter it is your duty to control the quality of your product, otherwise, it may lead to loses and penalty. Have a strong system of quality check, since it is the most important aspect of international trade.

6. Always study global import-export data to keep your knowledge update about the international prices of the products, and changes in demand and supply.

7. Be practical when it comes to delivery dates. Your logistics arrangement can throw your delivery plans to winds. Goods should reach to the buyer at the right time in a good condition. Always insist on the best and trustworthy shipping and packaging company to ensure an on-time delivery of your product.

8. Export documentation should be thoroughly done, failing to which your export business might shamble down. Many exporters who do not give due importance to documentation are unable to progress well.

9. Make commitments that you can keep: It is important that you do not become over-enthusiastic while taking the order and promise the moon. For a long-term relationship with your buyers, always make reasonable commitments that you can keep so that they stay with you.

To help you further, global import-export data keeps you updated. Such business intelligence data should be kept handy to have an insight into the export market of your product.