Episode 4 - 3 Key Concepts of Import Export Import Export Made Easy

The three key concepts in Import Export are three words:
RISK
NEGOTIATION
SYSTEMS

1 – RISK
6 Major Areas of RISK to avoid in International Trade.
1. Identify Your Risks
Use the CASTLE Strategy to minimise your RISK in International Trade
The Powerful acronym – CASTLE C-A-S-T-L-E:
Credit risk
Assignment risk
Supply risk
Transport risk
Legal risk
Exchange risk
2. Ascertain Control Measures you can adopt
3. Mitigate your Risk by Putting the Control Measures into action

2 - NEGOTIATION.
Negotiation is a Key Foundation for successful Importing & Exporting
1. Research in preparation for your Negotiation
2. Plan your strategies before negotiation
3. Implement your negotiation

3 – SYSTEMS
Developing efficient Systems is critical for your Import/Export Business
1. Determine the procedures and processes required for your project
2. List the required documents
3. Establish your own SYSTEMs and a TEAM to implement them.