John J. Capela

In a perfect world for your import/export business, you could select a product you’d like to deal in and identify a great supplier, and customers would fall over each other to do business with you. Unfortunately, the real world is far more complex and unpredictable. Doing business no longer involves just making and selling a product.

If you're thinking about starting an import/export business, do some research and ask yourself some key questions to see if a career in international trade is right for you. Make sure you're in agreement with the buyer or seller of goods about basic issues regarding your import/export business and stay current on trade rules and regulations in the countries that you're importing from or exporting to.

You can get involved in exporting in numerous ways — from filling orders for a domestic supplier (as an export management company) to exporting your own products. Many businesses — small, medium, or large — are excited about the idea of doing business internationally as a way to increase their sales and profits.

ThinkGlobal.com has developed several apps for U.S. exporters. The Export Resources app, published by ThinkGlobal Inc., provides access to trade leads, trade events, market research, and news gleaned from U.S. government trade specialists and other reliable sources worldwide. Here's what you'll find on the app: The Trade Leads section includes leads and opportunities for product and service providers.

A limited liability company (LLC) brings together two benefits that can be valuable to many business owners and that you can take advantage of when forming your import/export business: Limited liability: The members of an LLC enjoy the same limits on their personal liability as a corporate shareholder does. They aren't personally liable for the company's debts.

To get involved in importing, you need to find suppliers from other countries. And if finding international suppliers is of interest to you, there's a good chance you'll be using Alibaba.com. It's by far the largest e-commerce company in the world, connecting suppliers, primarily from Asia, with buyers from all over the world.

Under the Foreign Corrupt Practices Act (FCPA), it's illegal for a U.S. company to offer, pay, or promise to pay money or anything of value to any foreign official for the purpose of securing or retaining business. Here's a case study for you: In January 2009, Patrick Caldwell, a former federal employee, was appointed head of sales and marketing for Protective Products of America, Inc.

After you've decided to get into the import/export business, you have to decide how you want to set up your business. You have two options: Be a distributor (an intermediary who purchases and takes title to the goods). For example, you purchase sweaters from a manufacturer in Japan and import them into the U.S.

The number of products that can be imported into or exported from the United States seems infinite. The key to success is to identify your niche or area of specialization. Most individuals starting an import/export business stand a better chance of succeeding if they specialize in a particular area instead of trying to make it as a generalist.