Commodity trading can be an attractive option for those seeking to build a lucrative business. However, finding the easiest commodity to trade can be a daunting task. In this article, we will explore the motivation behind commodity trading questions and the reality of the effort required to succeed in this field.
The author will provide insight into the process of finding the easiest commodity to buy and sell, including a secret sourcing strategy and lead database and outreach sequence. Additionally, the importance of WhatsApp communication and setting up video calls with prospects will be discussed. Finally, the concept of pre-framing and in-person networking at conferences will be explored, along with the missing piece of working on the angle.
Key Takeaways
- Commodity trading requires significant effort and knowledge of the market.
- The process of finding the easiest commodity to trade involves a secret sourcing strategy and lead database and outreach sequence.
- Crafting a strong angle that doesn’t require more risk on the trader’s part is crucial for success in commodity trading.
Motivation Behind Commodity Trading Questions
Traders often wonder about the easiest commodity to trade in today’s market. However, the answer to this question is not straightforward. It depends on various factors, including the trader’s experience, knowledge, and current market conditions.
Many people are drawn to commodity trading, thinking it is a get-rich-quick scheme that requires minimal effort. However, this is far from the truth. Commodity trading requires a significant amount of effort and understanding of the market.
Traders who ask this question may have tried to make deals but are stuck and do not understand what it takes to set up their first deal flow with one buyer and one seller. However, with only a handful of buyers, traders can have a multi-million-dollar business that can generate significant profits per year.
To find the easiest commodity to trade, traders need to find the easiest commodity to buy and sell. One way to do this is by finding new buyers or new suppliers. This can be done by using data aggregators, LinkedIn, and other sources to get a list of leads. Once a list of leads is obtained, traders can systematically reach out to them using a reach-out sequence.
The missing piece in attracting buyers is the angle. The angle is what dictates how easy it is to buy or sell a commodity. To craft a strong angle that does not require more risk on the trader, they need to have experience and knowledge about the current market conditions.
In summary, traders who ask about the easiest commodity to trade are often looking for a shortcut to success. However, success in commodity trading requires hard work, effort, and knowledge of the market. By finding the easiest commodity to buy and sell and crafting a strong angle, traders can attract more buyers and suppliers, leading to a successful commodity trading business.
Reality of Commodity Trading Effort
The question of which commodity is the easiest to trade is a common one among traders. However, it is important to understand where this question is coming from. Many people are drawn to commodity trading with the belief that it is an easy way to get rich quickly. However, this is far from the truth. Trading commodities requires a lot of effort and hard work.
To find the easiest commodity to trade, one needs to first identify the easiest commodity to buy and sell. This involves scraping information from trade association websites, data aggregators, and LinkedIn. Once a list of leads is obtained, a systematic approach is taken to reach out to them. This includes connecting on LinkedIn, sending emails, and making calls.
However, finding buyers is not the only challenge. To be successful in commodity trading, one needs to have a strong angle that sets them apart from their competition. This angle should make potential leads believe that they won’t experience the same pain as they would with their current suppliers. Crafting a strong angle requires experience and knowledge about the current market conditions.
In conclusion, commodity trading is not an easy way to get rich quickly. It requires a lot of effort and hard work. To be successful, traders need to identify the easiest commodity to buy and sell, find leads systematically, and craft a strong angle that sets them apart from their competition.
The 1,000 IQ Answer to the Easiest Commodity to Trade
To determine the easiest commodity to trade, one must first find the easiest commodity to buy and sell. The speaker in the video suggests that the best way to find new buyers or suppliers is to scrap information from trade association websites, conferences, and events. Additionally, data aggregators and LinkedIn can be used to find information on different countries’ trade flows. Once a list of leads is compiled, the speaker recommends reaching out to them systematically through a reach-out sequence that starts with LinkedIn, then email, and finally a call. The goal is to get the lead’s WhatsApp number and organize a video call.
The speaker emphasizes that the missing piece to successfully trading commodities is the angle. The angle is the trader’s responsibility and dictates how easy it will be to buy or sell a commodity. A strong angle can be crafted by having experience and knowledge about the current market conditions. For example, a natural angle could be that the supplier is located near a huge dam, so the cost of energy is only 10% of the competition, allowing for extremely competitive prices all year long. A strong angle makes potential leads think that they won’t experience the same pain as with their current suppliers.
In summary, finding the easiest commodity to trade requires finding the easiest commodity to buy and sell, compiling a list of leads, reaching out to them systematically, and crafting a strong angle that highlights the trader’s expertise and knowledge of the market.
Finding the Easiest Commodity to Buy and Sell
To find the easiest commodity to trade, one must first identify the easiest commodity to buy and sell. The process of finding new buyers or suppliers can be challenging, but it can be made easier by using certain techniques.
One effective method is to use a team of scrappers to search for companies in the desired industry. This can be done by scraping information from trade association websites, conferences, and events. Data aggregators can also be used to gather information on trade flows, while LinkedIn can be a valuable resource for finding potential buyers and exporters.
Once a list of leads has been compiled, a systematic approach can be taken to reach out to them. This can involve a sequence of messages sent through LinkedIn or email, followed by a phone call to establish contact. It is important to obtain the lead’s WhatsApp number as soon as possible, as this is a widely used communication tool in international trade.
The missing piece in this process is the angle, which refers to the approach taken when communicating with potential buyers or suppliers. Crafting a strong, natural angle can make it easier to close deals without taking on excessive risk. This requires knowledge and experience of market conditions to identify opportunities for offering competitive prices or other advantages.
Overall, finding the easiest commodity to trade requires a combination of effective lead generation and a strong angle that sets one apart from the competition. By using these techniques, it is possible to build a successful commodity trading business with a handful of buyers and a multi-million dollar profit potential.
The Secret Sourcing Strategy
Using Scrapers for Lead Generation
To find the easiest commodity to trade, the first step is to find the easiest commodity to buy and sell. The speaker suggests using a team of three scrapers to find companies in the industry that you are looking for. They scrape information from trade association websites, mostly conferences and events, to find a gold mine of information. The team also uses data aggregators to find information on different leading blogs for different countries. Although these data aggregators are quite pricey, they give a good idea of the trade flow.
Leveraging Data Aggregators
The speaker recommends using data aggregators to find information on different leading blogs for different countries. Although these data aggregators are quite pricey, they give a good idea of the trade flow.
The Power of LinkedIn
LinkedIn is now the best place to be if you are in import-export or international trade. Although there are a lot of scams and stupid brokers on LinkedIn, it is still a valuable resource. The speaker suggests connecting with people on LinkedIn and designing a sequence of messages to send to them. If it doesn’t work, the team moves on to email and then to a call. The team tries to get the lead’s WhatsApp number as fast as possible and then organizes a call. The team sends a pre-framing video to remind the lead about the call and pre-frame the conversation.
The Ethics of Buying Exporters Lists
The speaker mentioned that some people buy directly lists of buyers or exporters from the customs of some countries, but they do not do it. It is important to note that buying these lists may not be ethical and may not lead to long-term success in the commodity trading industry.
In summary, the speaker recommends using a combination of scrapers, data aggregators, LinkedIn, and ethical practices to find new buyers and suppliers in the commodity trading industry. The missing piece is the angle, which dictates how easy it is to buy or sell. The speaker suggests crafting a natural angle that does not require more risk on the trader’s part, but this requires experience and knowledge about the current market conditions.
Lead Database and Outreach Sequence
To find the easiest commodity to trade, it is important to first find the easiest commodity to buy and sell. This is achieved by creating a lead database and outreach sequence. The speaker in the video explains that their team has three scrapers whose job is to find companies in the industry they are looking for. They do this by scraping information from trade association websites, conferences, events, and data aggregators.
The team then cleans the leads with different software to create a list of leads, which should be a minimum of 500. They then systematically reach out to them through a reach-out sequence, starting with connecting with them on LinkedIn and sending designed sequences. If that doesn’t work, they move to email and then call.
The team tries to get the lead’s WhatsApp number as fast as possible to organize a call. They also send a pre-framing video, which is a link to a video on YouTube that pre-frames the conversation they are going to have. The video serves as a reminder to the lead that the call is up in 24 hours.
However, the speaker emphasizes that finding new clients is not the bottleneck. The bottleneck is a combination of operation and finance. The missing piece in attracting buyers is the angle. The angle is the thing that dictates how easy it is to buy or sell. The speaker gives an example of two scenarios, A and B, and explains that scenario A is easier to close than scenario B because it is less risky for the client and requires less work.
To craft a strong angle that doesn’t require more risk on the trader, one needs experience and knowledge about the current market conditions. The angle should make potential leads think that they won’t experience the same pain as with their current suppliers.
The Importance of WhatsApp Communication
In the world of commodity trading, communication is key. One of the most important tools for communication in the industry is WhatsApp. It is a widely used messaging app that enables traders to communicate with their clients and suppliers in real-time. This section will discuss the importance of WhatsApp communication in commodity trading.
Instant Communication
WhatsApp allows traders to communicate with their clients and suppliers instantly. This is crucial in a fast-paced industry like commodity trading. Traders can quickly respond to inquiries, negotiate deals, and share important information. This real-time communication helps to reduce delays and ensures that deals are closed quickly.
Easy File Sharing
WhatsApp also makes it easy for traders to share files with their clients and suppliers. Traders can send documents, images, and videos quickly and easily. This is particularly useful when negotiating deals or sharing important information. The ability to share files in real-time helps to streamline the trading process and ensures that everyone is on the same page.
Group Chats
WhatsApp also allows traders to create group chats with their clients and suppliers. This is useful when working on large deals that involve multiple parties. Traders can easily communicate with everyone involved in the deal and keep everyone up to date on the progress. Group chats also make it easier to coordinate logistics and ensure that everything runs smoothly.
Cost-Effective
WhatsApp is a cost-effective communication tool for commodity traders. It is a free app that can be downloaded on any smartphone. This means that traders can communicate with their clients and suppliers without incurring expensive phone bills. This is particularly useful when working with international clients and suppliers.
In conclusion, WhatsApp is an essential tool for commodity traders. Its instant communication, easy file sharing, group chat, and cost-effectiveness make it an ideal communication tool for the industry. Traders who use WhatsApp are able to communicate more efficiently and close deals more quickly.
Setting Up Video Calls with Prospects
To set up video calls with prospects, traders need to use different tools and strategies to reach out to potential buyers and sellers. One effective method is to use LinkedIn, which is now the best place to be if you are in the import-export or international trade industry.
Traders can connect with potential leads on LinkedIn by designing a sequence of messages that they send out systematically. If the messages don’t work, traders can then try reaching out via email and phone calls. Once a lead is interested, traders can get their WhatsApp number and organize a video call.
To set up the video call, traders can send a pre-framing video that pre-frames the conversation they are going to have. This video is a good reminder to the prospect that the call is up in 24 hours, and it’s an opportunity for traders to introduce themselves and their business.
However, before traders can set up video calls, they need to find potential buyers and sellers. One way to do this is to use a team of scrappers who can find companies in the industry traders are interested in. Scrappers can collect information from trade association websites, conferences, and events, as well as data aggregators and LinkedIn.
Once the scrappers have collected leads, traders need to clean them with different software and create a lead database. They can then systematically reach out to these leads to schedule video calls and start building relationships.
It’s important to note that finding new clients is not the bottleneck in international commodity trading. Instead, the bottleneck is often a combination of operational and financial issues. Traders need to have experience and knowledge about the current market conditions to craft a strong angle that doesn’t require more risk on themselves. By doing so, they can make potential leads think that with them, they won’t experience the same pain as with their current suppliers.
The Concept of Pre-Framing
Pre-framing is a technique used in commodity trading to set the stage for a successful deal. It involves creating a positive impression in the mind of the potential buyer or seller before the actual negotiation takes place. Pre-framing helps to establish trust and credibility and can increase the chances of a successful deal.
To find the easiest commodity to trade, one must first find the easiest commodity to buy and sell. This involves scraping information from trade association websites, data aggregators, and LinkedIn profiles. After obtaining a list of leads, a systematic outreach sequence is implemented, starting with connecting on LinkedIn, followed by email, and then a call.
Once contact has been made, a pre-framing video is sent to the potential buyer or seller. This video sets the tone for the upcoming conversation and helps to establish the trader’s credibility and expertise. Pre-framing is drawn from Robert Cialdini’s concept and is an effective way to influence the perception of the potential buyer or seller before the actual negotiation takes place.
Crafting a strong angle is crucial in commodity trading. The angle should make the potential lead think that they won’t experience the same pain as with their current suppliers. To create a strong angle, one must have experience and knowledge about the current market conditions. By using pre-framing and a strong angle, traders can increase their chances of success in commodity trading.
In-Person Networking at Conferences
To find new buyers or suppliers in commodity trading, attending conferences and events is a great way to connect with potential leads. Trade association websites, data aggregators, and LinkedIn are some of the platforms that can be used to gather information on companies in the industry.
Once a list of leads is compiled, a systematic outreach sequence can be initiated. This could involve connecting with potential leads on LinkedIn, sending emails, and making calls to set up video calls.
To make the outreach more effective, it is important to have a strong angle that sets the trader apart from their competition. A natural angle that showcases the trader’s knowledge and experience of the market conditions can make potential leads feel that they won’t experience the same pain as with their current suppliers.
Networking in person at conferences and events can also help traders establish relationships with potential leads. Attending these events can provide a platform for traders to showcase their products and services, and to connect with potential leads face-to-face.
Overall, in-person networking at conferences can be an effective way to find new buyers or suppliers in commodity trading. However, it is important to have a strong angle and to approach potential leads systematically to make the outreach more effective.
The Missing Piece: Working on the Angle
Creating a Natural Angle
To find the easiest commodity to trade, it is important to have a natural angle that can attract potential buyers. A natural angle is a selling point that can make potential leads think that they won’t experience the same pain as with their current suppliers. To craft a strong and natural angle that doesn’t require more risk, one needs to have experience and knowledge about the current market condition.
For instance, a trader can tell their customer that their supplier is located near a huge dam, so the cost of energy is only 10% of what the competition is. Therefore, all year long, they can offer extremely competitive prices. This natural angle can attract potential leads to choose the trader over their current suppliers.
Understanding Market Conditions
To find the easiest commodity to buy and sell, one needs to understand the market conditions. The trader can start by finding the companies that are in the industry they are looking for. They can use data aggregators to find information on different leading countries, scrap the data aggregator, and clean them with different software.
Once they have a list of leads, they can start reaching out to them systematically. They can use a reach-out sequence that involves connecting with them on LinkedIn, sending them emails, and calling them. They can also send a pre-framing video that pre-frames the conversation they are going to have.
The missing piece in finding the easiest commodity to trade is working on the angle. The angle is the thing that the trader does, and it dictates how easy it’s going to be for them to buy or sell. The trader needs to craft a natural angle that can attract potential leads without adding more risk to themselves. By understanding the market conditions and having experience, the trader can create a strong angle that can make potential leads choose them over their current suppliers.