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STEP by STEP method for brokering distressed inventory - Make $X,XXX-$XX,XXX every deal

Discussion in 'Making Money' started by awtprod, Oct 9, 2011.

  1. awtprod

    awtprod Junior Member

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    First of all, this is a twist on John Durham's Alibaba Gold method. You can download the entire report in the member downloads section. I encourage you to at least skim the report before reading my method, but here's the general outline of the method:

    *Call manufacturers/distributors asking if they have any distressed inventory
    *Offer them 10% of retail
    *Add your markup
    *Find a buyer (see my method below)

    NOTICE: This is not a "get rich quick scheme." This requires hard work but if you are persistent and are good at making lots of phone calls, you can make this work.

    John recommends that you list your deal on Alibaba and/or contact buyers on Alibaba. There are a few problems with that, Alibaba is notorious for scammers and Alibaba is full of sellers (manufacturers from China selling to US and elsewhere). Not many buyers there. So a lot of people get discouraged and give up because they can't find a buyer. They are doing it the wrong way! They're plenty of buyers in China. Imported goods from the US are a luxury in China. So how do you find them?

    Google. Not google.com! Google.com.hk! Google.cn was taken down by the Chinese government but the same sites are on the Hong Kong site. But what if you don't speak Chinese (like most people on this board)? Easy. Use translate.google.com. It's not perfect, but works well enough for our purposes.

    *Enter in "import + the item your trying to sell (food, fabric, etc)" and translate it into Simplified Chinese.
    *Copy into google.com.hk and search
    *Take a look at the first couple of listings, if they don't match your niche, find a synonym (e.g., instead of flag, use banner, etc).
    *If you use google chrome, the browser will detect the language and translate the page for you
    *Look for the contact information. Send them an email. Since they're an importer, there HAS to be someone there that speaks English, so don't worry about translating to Chinese. If you are lucky, there will be an email contact for the buyer.
    *Rinse and repeat until you get a nice list of prospective buyers

    Keep in mind that people outside of the US are not "impulse" buyers. They're not going to buy your load overnight. Give it time. Also, this method can be applied to any country, not just China.

    You can also stay local (US). You'd be surprised at how easy it is to match buyers and sellers.

    *Goto manta.com and find buyers in your niche
    *Narrow your results by starting with companies with income greater than $1 million a year
    *There's usually only basic contact information on manta, so try using jigsaw (I think it's now data.com) to find the buyer or purchaser's contact information. If you sign up for a free account, you can get two free contacts. You can earn more points by adding information for "your company." :D
    *If the company is not listed in jigsaw, go to google.com search site:linkedin.com "name of company + buyer/purchaser." You should be able to find someone in the purchasing department. You can either try to guess their email based on their first and last name or call the main line for the company and ask to speak with them.

    That's about it. The hardest part is being persistent. There's a lot of phone calling involved. There's money out there, lots of it (especially since the US is in a recession), you just need to work for it. Feel free to ask any questions! I know my thread isn't very pretty right now, but I can add screenshots later if that helps people. Good luck!
     
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  2. macdonjo3

    macdonjo3 Jr. VIP Jr. VIP Premium Member

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    Really? That's about it!? :0 Is there a short version of this?
     
    Last edited: Oct 10, 2011
  3. awtprod

    awtprod Junior Member

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    Haha. I thought that WAS the short version. The first outline is kinda of the short version, the rest is basically a brain dump.
     
  4. mrsix

    mrsix Power Member

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    buy stuff, call people, sell stuff got it. :D
     
  5. Wings[SENSE]

    Wings[SENSE] Regular Member

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    In John's ebook he said you don't buy stuff. You act like a middleman and get a percentage of the sale.
     
  6. ohaider

    ohaider Senior Member

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    So essentially you are dropshipping to China? I mean this would cost you 0 dollars. Sounds like an easy way to get scammed also, however it would be a great way to make money with legitimate Chinese businesses. In china McDonald's is a nice restaurant where you would show off to people (i.e. first date). They even call Americans "Mei Guo" or Pretty People. They idolize us, so profit off of this guys.
     
  7. awtprod

    awtprod Junior Member

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    Bingo.

    Exactly. I wouldn't say dropshipping per se. You are flipping a load of distressed inventories. You shouldn't get scammed if you use common sense and find legitimate businesses. That is why I suggest that you find business through google rather than Alibaba. FYI, the most common scam is that they will try to get you to purchase a special license or permit. DON'T DO IT!
     
  8. hzwill

    hzwill Junior Member

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    1、Becareful , there are so many scamers.

    2, Find some reputational importors in mainland. It will reduce your profits but increase safty.

    3, The style of chinese is far from western , so do enough reserch before you make any movement.
     
  9. fbexpertph

    fbexpertph Newbie

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    buy and sell.. that's it
     
  10. S0leil

    S0leil Regular Member

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    Nice, will give it a try and write a short review in about one month ;)
     
  11. Minhoo

    Minhoo Newbie

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    Hey, Thanks for sharing your twist to the method. I'm trying this out right now and hope to see it work.

    But I have a question: How do you get payment from the buyer? As in do you 1. open a company or 2. asked buyer to transfer to your bank account or 3.transfer to supplier's acct and ask supplier to send you your share?

    Do you think buyers will have an issue if I am to ask them to transfer to my personal bank account (I'll then pay the supplier from my acct, just to get my share of commission first)?

    Thanks!
     
  12. Gold Hat

    Gold Hat Regular Member

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    any substitute for mantra in UK.