In general, business people or traders from mainland China are known as successful people as entrepreneurs. They left their hometowns, migrated, started from zero, and were proven to be able to develop their businesses many times. Also, it is the Chinese traders who then open up jobs for the natives, so they can have a monthly income.
What is the secret of Chinese business people?
1. Learn to Do Business since Little
We often find types of Chinese families that involve family members when opening a business — even now. When a Chinese family head opens a shop that sells certain goods, food, or services, his wife and children usually serve as servants, cashiers, and others. This is a good habit for children in their adult life. Mentally and scientifically, these children are trained to be business people who are, quite possibly, smarter, better prepared, and more successful than their fathers and mothers.
2. Live a Fifth of Income
Chinese entrepreneurs have a simple principle of life. For them, if their income only reaches RM 5 million per month, it is not a problem to finance their daily needs with only RM 1 million. Before their business was successful, they were willing to live a hard life and save 4/5 of their remaining income for investment in the future.
3. No Fear of Risk
Perhaps, the Chinese were taught the word “brave” and kept away from the word, “failed.” They grow as individuals who are not afraid to take risks for greater business success.
4. Neat and Bookkeeping
If you look at the shops of Chinese business people, they rarely (if you can’t say they never) – run out of stock. This is possible because they use a good administration system, as well as bookkeeping, so that cash flow is smooth.
5. Research and Analysis
They are indeed brave, but Chinese businessmen are also people who are tenacious in understanding the business field before engaging directly. They did not hesitate to ask questions, gather information, plan. No wonder they quickly grew rapidly once they were in the business they had learned.
6. Memorable Service
An interesting saying from China goes something like this, “If you are not good at smiling, don’t open a shop.” That is, if you want to do business, you must also be able to serve customers with excellent service. If you are not able to serve customers well, it’s better not to do business, because customers will be fewer, business will fail, if the business owner does not seem to care about customer satisfaction.
7. Relationship Network
Chinese businessmen often give gifts to their customers. It doesn’t have to be expensive, but it can build a positive image, a good impression, of their business. Thus, customers feel comfortable interacting with him, coming again for subsequent transactions.
Adapted from: Marketing In Asia