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Time to stop being lazy and handle your own DUE DILIGENCE!
Post 1 of 23

I'm sorry, but has everyone in international trade gone lazy?! In reading through the many forums on Alibaba I have come across the same common broad questions many times.

  • "can anyone give me a good freight forwarder?"
  • "can you tell me a good supplier in China?"
  • "is XYZ real or a scammer?"
  • "I'm thinking about doing business in the western hemisphere, anyone have a list of honest suppliers/buyers they can give me?"
  • "I'm lazy and don't feel like doing my own due diligence, please someone hold my hand and do the work for me"

It is so simple, if you are looking to find a freight forwarding company, GOOGLE IT. Here is the results page;
http://www.google.com/search?hl=en&q=freight+forwarding&btnG=Google+Search

Look at all of your options, do some research, call them, get some info. Once you have narrowed it down to a couple you would like to use, then ask the question: "has anyone here ever used ABC for shipping? I'm thinking about using them and would like your opinion."

Or you could ask the question to your supplier/buyer, if they have been doing business for awhile they should be familiar with at least one freight company that they prefer using.

Or, how about doing due diligence yourself on the company you are dealing with, instead of asking everyone on this site to do it for you, for free, on their time: "can anyone tell me if XYZ Inc is real or a scammer?". Hmm, how about you research the company and their contact information yourself.

There have been countless forums on how to do this research and yet so many of the members of this site are asking someone else to do this service for them, for free. Haven't they done enough by writing extensive instructions on how to do it.

Here are few of these fantastic posts:
http://resources.alibaba.com/topic/18274/Marketing_and_Business_Planning.htm
Thank you Aussie
http://resources.alibaba.com/topic/7855/Ways_to_Identify_Scammers.htm
Thank you TwoRivers
http://resources.alibaba.com/topic/17530/Tips_for_you_to_verify_Chinese_companies_.htm
Thank you Business In China
http://resources.alibaba.com/topic/18101/Product_Sourcing_and_Certification.htm
Thank you Rizzob http://resources.alibaba.com/topic/12377/Most_important_documents_in_order_of_business_negotiations_.htm Thank you Ranger
And there are many, many more out there.

What works for you will be different than what works for someone else. We all have different business models and different needs. Do the research yourself and you will get exactly what you are looking for. Ask someone else to do the research for you and you will either get a broad answer that doesn't fit your needs, or you will get a very specific answer that fits their needs instead of yours.

Basically, do the research yourself and then ask specifics.

If you want someone else to do all the leg work, hire a representative in the country you are doing business with and pay them to handle the headache.

Half the questions asked can be answered by the person asking it if they would just step back and look at the situation. For example; "XYZ will give me an unbelievable price on widgets, they have a website, and answered the phone number they gave me, but they can only receive money by western union. Are they for real?"

Are you kidding me?!! Right there, price too good to be true, only receive western union. This is the point where you walk away and don't look back.

Do yourselves a favor and read all of the forums on Alibaba. You will learn a ton about international business and be able to fend for yourself.

Buyers: Really research the product you are looking for so that you know where it is produced. i.e. Televisions are not produced in Indonesia. Also, know the brand, major companies like Sony and Seiko are not going to allow their product to be devalued on the global market.

Sellers: Really research the market you are selling into. 100,000 HD flat screen televisions to Nigeria? Does any company on the planet buy 100,000 of one kind of TV on one order?

I'm not saying that people shouldn't ask questions in these forums, but come on people, the forums here are becoming clogged with questions that shouldn't need to be asked. Please, read the forums and you should be able to answer most of your own questions.

 


 

[Copied from Due Diligence to Basics. PS ... well said Cali. I nominate it for "Best Post of the Year" ... Cheers mate, Aussie [em1]]

 

04 Oct 2006 10:01
Post 2 of 23
Replying to [Cali Rugger]:[em16]No one can put it finer than you did, good work[em16][em16]
04 Oct 2006 11:10
Post 3 of 23
Replying to [Cali Rugger]:Great Post, this is nothing short of "Kick-Ass"!![em3] (took the words outta my mouth)
04 Oct 2006 11:14
Post 4 of 23
Replying to [Cali Rugger]:rite said [em20]
04 Oct 2006 12:27
Post 5 of 23
Xeron
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Overall Ranking MVP:4,591 Rank:117
Great Job on composing a topic like this. Question's that could just be googled are becoming irratable.
04 Oct 2006 19:25
Post 6 of 23
Replying to [Cali Rugger]: If thats the case Cali why does Alibaba have forums,maybe Alibaba should stop theses forums and we should google every thing.
04 Oct 2006 19:48
Post 7 of 23
Replying to [Gneato]:[em24]

Gneato, thank you for replying to my post I welcome your opinion. Everyone is entitled to their opinion and these forums offer the perfect place to open discussions based on our opinions.

First, to answer your question; no Alibaba should not stop these forums as you cannot place a value on the information that is shared here. Inviting open discussions between business people from all over the world does more good for the global economy than we will ever be able to understand.

Second, please offer me the chance to explain my post.

Please reread the original post and tell me where I said all questions should be stopped.

I'm saying that everyone needs to take responsibility for their own business and stop expecting to get a free ride by asking broad questions, like "can anyone tell me how to run my business?". People that ask such broad questions are not ready for international trade.

I'm also saying that if you take the time to read through the forums, 80% of your questions will be answered already, and another 10% can be answered by Google. I tried to help by offering links to some very informative articles on this site. The last 10% end up being very specific questions that you actually need help with. It's this last 10% that belong in these forums.

The members that post these very long, inteligent, well written, posts explaining in very clear terms how to conduct international business do not have time to repeat themselves over, and over, and over again. They have businesses to run, money to make, trades to handle. They are not getting paid for the information they give out here in the forums.

The in deapth information they offer should be appreciated, not expected.

I invite everyone to post their opinions on this subject. I am curious how this issue is viewed across the Alibaba membership base.

Thank you to everyone for your comments, they are appreciated.[em3]
04 Oct 2006 21:23
Post 8 of 23
Replying to [Cali Rugger]: Cali if i have affended you I'm sorry didn't mean too i think your supject tiltie kinda upset me a bit.

It's not that i am lazy it just that i need some help, and yes tis true there are the same qustions that keep on rotationing over and over again

anyways my bad sorry Cali peace
05 Oct 2006 03:15
Post 9 of 23
Replying to [Cali Rugger]:

Bravo. should be upgrade to white paper.

Other people stuck on their homework and others do not know how to start it. Great references provided.

But Cali, which source you are using for ?Televisions are not produced in Indonesia?? For CRT TV, I know 7 companies exist since 7 years ago, 2 companies for CRT Monitors.

rgds.
erl
05 Oct 2006 05:55
Post 10 of 23
Replying to [Cali Rugger]: Good article. On another note though I'am curious about your quote. If you wanted to present yourself as a level headed buisness person why quote a gangster well known for his killing, dishonesty and general disconcern for human life? What would you have a potential trading partner think of you when they look into the background of the person your quoting. [em28]

rgds,

Ranger
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05 Oct 2006 06:38
Post 11 of 23
Replying to [Gneato]:

Gneato, you didn't offend me, and you have no reason to be sorry. I just didn't want my point to be misunderstood. I truely appreciate your input.

Ranger, my quote is more meant to signify that nobody should take any crap in business. Sure Al Capone was a notorious gangster, but he was also an incredibly inteligent business man. He just didn't take crap form anyone. In basic terms "don't let anyone push you around in business". It wasn't meant to offend anyone, I just thought it was "cooler" to have a quote from Al Capone than to say "don't let anyone push you around in business.". If anyone is offended by the quote, please let me know and I will change it.

erld, Please list some information to backup what you say, and thank you for correcting me. Nobody is right all time, but together we can all bring the correct information to light. Thank you.
05 Oct 2006 07:57
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