CHINESE TAKE-OUT: Oriental Business Principles Demystified For Online Enterprises
"The expectations of life depend upon diligence; the mechanic that would perfect his work must first sharpen his tools."- Confucius
Chinese people are well-renowned for their industriousness and extraordinary minds for business. Cases of our Chinese brothers failing in their ventures are very rare. They have effective principles that have withstood history and tragedy. Chinese traders thrive even in the harshest business climate. They have survived wars, depressions, and competition from companies with gigantic resources.
For sure, their success is more than just Feng Shui. And if ever it was, it is highly doubtful that such geomancy is applicable for online enterprises, the latter being our primary concern for this discussion.
So what is their secret? Why are the Chinese so successful at business at a consistent and remarkable level? How could we apply their business principle to our online endeavors?
The Concept of "Guanxi"
Central in every Chinese business structure is the idea of relationships, or "Guanxi." Chinese people value honor and trust. They deal with persons who are trustworthy, and they strive to be just as dependable to win the respect of others. If you do a favor for a Chinese businessman, for example, he would do his best to be ready at all times so that he may be able to repay you when the need arises. If you're dealing with the Chinese and you deliver what was agreed upon on or before the time you have pegged, they will regard you as reliable and would consider doing business with you again.
"Guanxi" is the heart of their organized business. They strive to be good at what they do so that they could build relationships that would aid them in the long run. A Chinese business with well established "Guanxi" is susceptible to fewer risks and could easily get the best deal at any given time. Also, such Chinese enterprise is assured to have support if ever it encounters some trying times.
With customers, "Guanxi" is more about finding quality ones rather than settling for quantity. The Chinese rely in the goodwill they generate with their clients, and they believe that their reputation would eventually spread through word-of-mouth. People tend to believe those they know, hence the Chinese would rather pin their marketing strategies through their work rather than spending for costly advertising campaigns.
Long Term Relationships are better than Short Term Profit
Chinese people are very good with math. They could calculate ROI without using a calculator. They know their expenditures without the need of accounting software. It is no surprise then that the Chinese came up with an equation that is more profitable in the long run.
Chinese businessmen are known for their generosity in giving discounts. They make sure that their clients would feel that they are being given the best deal. This may result in minimal profit for their businesses, but the Chinese are looking at the bigger picture. A satisfied customer will always come back, thus assuring continuous income. In the long run, this would equate to a higher profit margin than a one time deal involving a larger markup price.
In doing online business, we could learn much from the Chinese's patience to delay gratification. Remember that people would view us based on how we conduct our trade. If they see that we offer quality products delivered with efficacy and expediency, they would most definitely consider us again. If we manage to reach out to them in a more personal level, the more that they will never forget us. In so doing, we would have assured ourselves of loyal patrons for our undertaking.
Frugality is a Virtue
Spend only what you could afford.
This is a doctrine prevalent in the Chinese culture, and is best manifested in their business affairs. Borrowing money is considered taboo in their society. They would rather start with menial jobs that no one else would dare touch than asking a loan from other parties. They will not consider expenses which they cannot afford. Instead, they look for ways around the necessity.
Online businesses have much to discover from their offline Chinese counterparts. If the Chinese were able to successfully establish their trade through the traditional methods we've discussed in this article, there is no reason why we wouldn't be able to duplicate their success on the web.
Additionally, Chinese businessmen would not be disheartened when they do lose money, for as long as the experience have taught them valuable lessons that they could utilize later on. Perhaps it would be wise for us to take heed. Knowledge is power, and in this competitive world of online marketing, we need all the weapons we could get.
© 2005 Gunnar Berglund Gunnar Berglund has been a "internet- hardworker" for the last five years He publishes The meonit Gazette http://gazette.meonit.com and run http://www.meonit.com / http://www.grabinternetprofits.com/traffic
From Bank Clerk to Entreprenuer
What seems like a century ago, I left school and joined a well-known High Street Bank. In those days working as a bank clerk was a well-established route for many school leavers and perceived to be a proper job with prospects. It wasn't long before I became disillusioned with the world of banking and sought a change of job. In complete contrast to my previous job, I became a clerk in the local hospital dealing with the injured and infirm, but it was a role that I found strangely interesting and rewarding. In today's parlance, it is known as job satisfaction.
The Perfect Little Coffee Shop: Are You Afraid of Failure? Are You Letting that Failure Cripple You
Ah, coffee, the drink of choice when I want to share a special moment with friends, when I want to sit and ponder life or when I want a moment alone. I am an avid coffee drinker. I love coffee and I love the atmosphere of a good coffee house, a café.
Taking Charge and Getting Results: The Choice is Yours
As one of the most successful direct sales entrepreneurs in the industry, I have found there are two kinds of people in the world, those who would like success and those who are serious about success. There really is no in between. Think about it. Everyone wants success in their life; they want to make more money, have more time, have less stress and really make their mark in the world. The people who actually do it are the people who will not accept any alternatives.
A Startup Never Closes
When it comes to a startup, the luxuries shared with established companies are few and far between. Chief among them is the luxury to close at the end of the day. Big companies have the benefits of capital, customers and receivables. Startups, on the other hand, have jack squat. They need to work twice as hard to make half as much, and even then they're not working nearly enough.
An Entrepreneurs Challenge
Living in the twilight zone has its advantages. In the early days of starting my business, I found the limitations of living in a rural area to be restrictive. However, later I realized that those limitations were not an obstacle that could stop me; they were only a challenge that would strengthen me. Since my business would be smaller, I would have the advantage of fewer employees and less strife in the processes of doing business.
Good Questions, good Answers; Bad Questions, Bad Replies
I'm convinced that asking the right questions is one of the most important skills you need to become a successful business person. Questions have the power to direct you or to distort you. The right kind of questions will direct you to success the wrong kind of questions will direct you to bankruptcy.
A streak dating back more than three decades came to an end at midnight on New Year's Eve. For the first time since 1972, as America rang in 2005, "America's Oldest Living Teenager" was not in Times Square to count down the dropping of the giant ball. The 75-year-old host of ABC's "New Year's Rockin' Eve" was in the hospital, recuperating from a stroke suffered a few weeks earlier.
Interview with Best-selling Entrepreneurial Authors Barbara Winters and Nick Williams
Ray Bradbury's quote, "You've got to jump off cliffs all the time and build your wings on the way down" may sound extreme but, as anyone building a business knows, it has a lot of truth in it.
History of Enterprise Car Rentals
So few really understand the drives and motivations of entrepreneurs. Many write about them, some lecture and teach about what they are, how they operate and what they have achieved; yet so few really understand them. So many fail to realize the dedication and sacrifice it takes to win at that level and the super stars are so rare that one just has to look in awe. One of the greatest stories of Entrepreneurial success is that of Jack Taylor who founded Enterprise Rent-A-Car. I therefore recommend this book about the History of Enterprise Rent-A-Car Book is;
5 Habits Of Successful Entrepreneurs
Habits get a bum rap. When you think about your habits, I bet you think of the "bad" ones - the ones that you aren't particularly proud of, like eating too much sugar, or smoking, or dwelling on your negative thoughts. According to Webster's dictionary a habit simply is: A pattern or action that is acquired and has become so automatic that it is difficult to break.
Traits of The Successful Entrepreneur
Want to know why certain people succeed and others don't. Well successful people have certain traits? Do you have them?
Isnt it Time You Started to Fly?
I am going to begin this article by sharing a shocking fact...
Getting Rich Isnt a Bad Idea
You've seen plenty of articles claiming to offer you the secret to getting rich. Some ideas, however, are thin veneers covering some scheme that often involves multi-level marketing or a service with questionable intents.
Playing Hookey Can Help! A Surprising Secret To Small Business Success!
Would you like to increase your chances of business success by 350%? The good news is that you can!
The Myth of Undercapitalization - Six Ways Entrepreneurs Achieve Success in Spite of Start-Up Money
This year more than 17 million people will become entrepreneurs, according to the National Association of Self Employed (NASE). By the end of the year, 8 million of them will return to the corporate world because their entrepreneurial effort did not succeed. Many will say the businesses failed because of insufficient capitalization. Actually under-capitalization is not the cause of failure, but a symptom of a far more serious problem.
Learn how to Compress Time
In the popular 1980's movie "Dune," man learned that by "folding space" the distance between two points shortened and he could cover those distances faster. Around 1995, we found a substance that could bend time in the business community -- it was called Venture Capital. With enough of it, we could compress the evolution of a startup company from a few decades to a few years. Companies like Amazon, eBay and most recently Google showed us that billion dollar companies could be built in years, not decades.
Empathy - Not Business Plans - Key to Your Home Based Business Success - Do You Have Empathy?
EMPATHY is a Natural Talent, you were born with it and you will never loose it. It can be a blessing or a curse in a home based business. If you develop it, it can make you a Millionaire. Mary Kay, of Mary Kay cosmetics, did just that. If you have it, it is your most important key to a successful home based business. Business plans, cash flow projections, marketing analysis, etc. are skills that are needed in a home based business, but they can be learned from a workshops, courses or books. Your Natural Talent is what gives you the competitive edge.
Franchises - Success and You
Many people believe owning a franchise will make them rich, financially secure, and provide the life of their dreams. True, franchises have an extremely high success rate, and a very high satisfaction rate among their owners. But is that success guaranteed when you purchase a franchise? NO!
Chairman Greenspan and the FED, learn more you will be glad you did
So many people work their whole life to make money, but they know so little about out monetary system. They know so little about the Federal Reserve Bank and so very little about the brilliant minds, which make it all work. To get a better insight to the behind the scenes strategic planning and the intense thought which goes into making it all work I recommend you read a few books on the subject. Let's start on an easy one for your on-going education as an Entrepreneur; I recommend you first read:
Starting Your Business: It All Boils Down To Making Money and Saving Money
Bootstrapping in the context of business start-ups refers to the use of creative financing approaches such as leveraging personal savings, credit-card debt, loans from friends and family, bartering, and other means to launch a business. Some business founders use bootstrapping because they have no other choice. Just about anyone who has approached a bank has learned that "only established businesses need apply." Bankers typically look for cash flow, assets, an established customer base, and a successful track record on the part of the business that is seeking a start-up loan. Obviously, this is a short list that is impossible to fulfill when you are just getting started.
|© Athifea Distribution LLC - 2013|