I think you will always get a blob after applying paint.
You can use any abrasive to get the paint flat, as said above, wait a few days before sanding. Yes, you will probably make a ‘burn mark’ around the area if using sand paper, but this can all be polished out even by hand with some auto glym paint renovator, or, perhaps some ultimate compound + finish.
My method:
Degrease the area, remove any waxes etc.
Clean the chip maybe using a cotton bud etc.
apply primer depending on the depth.
(You can use halfords high build primer for this, with their paint kits, the colour match isnt the best tho)
Once primer is dry, after several hours you can apply paint.
It will make a bobble.
Leave to dry for several hours
Cut back with 3000 grit, refine with 7000. I do this wet.
Then polish the area with auto glym paint renovator.
I have tried with clear laquer before but not had any luck with it. I find there is no depth left in the chip to apply it once done, I coated over a chip with it after doing the above but it made a mess. I had to sand it all off, and polish out.
Good luck, the syringe method also works. The halfords applicators have a great way of getting the paint in, but the colour matches are awful, so had to order BMW paint.