Importing Goods & Quality Control

Part of the Video Series Foreign Trading Tips & Advice

Viewing videos requires the latest version of Adobe's Flash Player.
Get the latest Flash player.

Member Comments

Login or register to be the first to comment on this article!

Video Transcript

Importing Goods & Quality Control
Nikolai Pankrotz for the American Resource Network for Expert Village. In this series we're really trying hard and I'm just saying it from the bottom of my heart because I've been through these things. And one of the things, my philosophy in life is always show me the hidden surprises, basically. All the money and the roses and everything else comes with success so that's understood but I want to know what the problems are. And we're discussing this segment, the problems, the potential problems that you need to be aware of. So we'll discuss about banking systems and all of that but one important aspect I want to point out is the quality. The quality control. You've got to remember that America has over 250 years of democracy. So we are endowed a lot of things. We have a very competitive country. The same radio could be made by many different manufacturers. Sony, Philips, Panasonic, whatever, just many many. That drives the market and that makes a product good. Well when you're dealing with some of those countries in Eastern Europe, China, China's coming along very well. It's a very booming economy by the way. But it's still communistic very much. And what these countries, pretty much the way the industry was set up, everything was government controlled. So if government manufactures a radio there is not competition. You get what you pay. Basically you have no choice. And so what I'm saying is that once you start dealing with these people or buying. Say for example your buying lumber, or you're buying parts to cabinets or let's pick lumber for example. And I've been in all kinds of transactions. But one of them, let's pick lumber for example. Well the quality in America for a cabinet is very high. In their definition and what they use to look at quality could be completely different from you expected. So in reality after everything has been said and done and the shipment arrives. You're sadly surprised the quality is not there. It's not what you've been looking for. And remember that. So, for you to be sure that you get what you want. I highly recommend that you travel. You travel to these countries. You do the first shipments to educate you. You will go through a process where you're going to be educating these people so be prepared for that.

About the Expert

Expert: Nikolai Pankratz is a German born entrepreneur with an impressive background in music, international banking, and foreign trade. Read More

Arts & Entertainment | Business | Careers | Cars | Computers | Culture & Society | Education | Electronics | Fashion, Style & Personal Care | Food & Drink | Health | Hobbies, Games & Toys | Holidays & Celebrations | Home & Garden | Internet | Legal | Music | Parenting | Parties & Entertaining | Personal Finance | Pets | Relationships & Family | Sports & Fitness | Travel | Weddings | Bartending | Cooking Dictionary
Partner Sites: Airliners | How to Articles | Answers | Funny Videos
Demand Media