At the early stage of your discussion with prospective buyer always have it at heart that, what if this business work out how can I finance it up to the stage I will get paid in case of LC (letter of credit) mode of payment. Every encounter with a new buyer might be a big chance so doesn’t miss use any encounter. Always plan ahead.
As the discussion is intensifying, your instinct tells you how the conversation will end.
At this point, contacting family members, friends and investors matters as you are talking to your buyer. Contact uncles, banks with your proposal. Get prepared towards sourcing for fund before signing final contract. Be ready to defend your proposal, have some skeletal work to show who is ready to finance your export business and be able to convince anybody that is ready to be a partner his/her stake in the business. Profit margin analysis work out is important.
It’s important that your financial partner’s details must be used to ascertain assurance of payment, allow their banking details be used and probably obtain the contract with their company’s name in this case, you are bringing business and they are funding you.
Do this and still be in control of the business by holding the master plan. Execute the project and make sure you follow-up with the shipping processes until payment is made and profit is shared accordingly.
As you build your integrity, network, and experience, many people will offer freely to invest with you as time goes on just make some sacrifices to grow. It’s important.
Hint* try as much as you can to protect the details of your client in time of proposal defense. Never trust anybody. Be factual and straight forward explaining yourself. Don’t over expose your client or self to dangerous hijackers calling themselves partners.