Navigation: | Home | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | | ||||||||
Entrepreneurialism Information |
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. In Closing 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 -------------------------------------------
MORE RESOURCES: Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting |
RELATED ARTICLES
Judging Entrepreneurial Ideas Most entrepreneurs constantly come up with new ideas. Whether they are working on another project, driving, or lying in bed, their minds are constantly churning out new products, services and ways of doing things. The Danger Of Hate As you have shown an interest in starting a business of your own it would be safe to assume that you want to changeyour life. You want more money - more control over yourlife - more respect. Confidence = Preparation + Courage It always amazes me when I see someone on television holding a press conference - a lawyer outside a courtroom, a businessperson at the launch of a new product. Reporters ask hardball questions. Could a Non-Profit Structure Be Right for Your Business? If you have a business idea, or an idea for a servicefor your community, there's one decision you must makeearly on: are you going to structure your project as afor-profit business, or as a non-profit corporation?Now, it may be that you already have a clear idea aboutthis. Some business ideas are clearly "for profit". Isnt it Time You Started to Fly? I am going to begin this article by sharing a shocking fact.. Go Slow to Go Fast - Why Over 80% Of High Tech Startups Fail And What To Do About It With billions of dollars of venture capital residing down the street on Sand Hill Road, two Stanford professors are attempting to answer a fundamental question "why does it always take longer and cost more to build a hi-tech company than anyone ever expects?" For all the intellect, experience and graduate degrees in the venture capital industry, the sad truth is that 80% of venture capital investments do not pan out. While the reasons for this high attrition rate are too numerous to list here, a simple fact defines every successful investment - the company figures out how to bring in more money than it spends. The 7 Traits of an Exceptional & Successful Entrepreneur How often have you either referred to or considered the expression, "Success is a journey and not a Destination?" Probably many times, yet often being in a hurry to get there, we forget that success is not an end unto itself, but is instead an ongoing process.Though some people seem to have the Midas touch and easily turn everything to gold, most of us have to give our endeavors lots of time, effort and the sweat of our brow before seeing things come to fruition. Identifying the Right Venture Capital Firm Partner Venture capital firms are comprised of individual partners. These partners make investment decisions and typically take a seat on each portfolio company's Board. Franchises - Emotional Fulfillment - The Challenge Does A Franchise Meet Your Needs?Do you look forward to Friday afternoon or Monday morning? Perhaps that's the true litmus test of happiness. If you're thinking about the fact that there's only one day to go before the weekend, when you just got back from lunch on Wednesday, it may be time for a change. 10 Essential Tips for Starting Entrepreneurs - Ignore these at your Peril! 1. Do What You LOVE: If you've chosen your business because you read that this niche was the next hot one, or because your favorite uncle (or your best friend) thinks you'd be well-suited for this business, you may as well pack up now and save yourself some time and money. Creativity & Entrepreneurship: The Creative Evolution of an Intellectual Property© In each of us, there is a creative spark - a unique purpose and destiny for which we are born. Most of us have forgotten what that special gift is, or we are afraid to live it. Reducing the Stress of Being an Entrepreneur Starting and running your own business can be exciting and rewarding, but it can also be very stressful. For most of our almost 40 year marriage my husband has been an entrepreneur and I have sometimes worked with him. Are You Ready To Be Your Own Boss? You have this burning desire you want to be on your own. The temptation is so great that you want to quit your job. Before Getting A Franchise Buying into a franchise is a great way to be part of a recognized brand with the benefit of lower advertising outlay. With many franchises to choose, here are some tips before you get involved with franchise:Get The Support of Your Family:The success of your franchise is also the acceptance of your immediate family in supporting your effort. Protect Your ASSets in Business Many people are starting an online business without a thought about the danger this may pose to their personal assets. The type of protection you need depends upon the nature of your business and the amount of your personal assets. Find Out If You WILL Be Successful As a Franchisee? Will I be successful as a franchisee?One of the soundest pieces of advice to take when considering becoming a franchisee is to 'Assess Yourself'. Assess whether you can accept direction. Herb Filled Pillows Make Over a Million Dollars Lauren Rosenstadt was a single mom working at a herbcompany in Bethesda, Maryland. A herb (pronounced "erb") isa plant that has medicinal, savory, or aromic qualities. The Cockroach Test Let me ask you a question? Imagine I would offer you $10 for eating 10 living cockroaches. Would you do it? Now listen, I raise the ante and offer you $100. Salon Marketing Using Wireless Broadband Internet Access Our client in Chicago did, located right outside downtown too.. How Much Risk is Necessary to Grow Your Business? A business owner is thoroughly responsible for their own financial survival and possibly the financial survival of their employees. Business owners, for the most part, seem to be "risk takers", who really don't easily "go with the flow". |
home | site map | contact us |