Ideas on How to Become Rich - How to do business in China- Step 5 and 6

Ideas on How to Become Rich -
How to do business in China - Steps 5 and 6


Good afternoon to all of you
The next two steps are Knowing the Importance of Relationship (Guan Xi) and Caring for your Partners(Teammates) respectively.

In China, relationship building is more important than business. It is through Guan Xi (relational intimacy with others and social graces coupled with loyalty of friendship) that enables one to survive anywhere in this vast market of different webs of information and customer needs. To become rich through guan xi is the fastest way in China.

This is because the integral part of the Chinese mentality is that of being a good friend i.e. being able to enhance great interpersonal relationships and loyalty. Trusted relationship and loyalty are far more valuable than money in this country. Legal documents mean nothing to the business community. Often, the contract is verbal with no written agreements at all. Their word is king. To the Chinese, trusting them wholeheartedly will enable you to go far.

But can we trust them wholeheartedly when we come from another environment where words have to be written clearly without ambiguity and legal documents drawn up almost to precision before engaging in any kind of business deals?

The key to this step 5 is patience, tenacity and perseverance. It may take years before your bountiful business come into fruition but it is worth the wait and time, because by then, you have won over the whole community. As the Chinese are very communal, you will then gain the trust and business of a larger group through patience, tenacity and perseverance and guan xi. The money will then flow into your pockets like the waterfalls which are a common features of Chinese scenery.

With firm grasp on guanxi, the next thing to do is to embrace your partners, teammates and those who work with you with care and love. In order to keep your customers and ensure you have steady market, you have to care for your team members through carefully planned reward system. Monetary incentives are very vital to your success as well as to the team mates. To catch big fish , you need a big net and large tasty bait. The bait has to be "tasty" enough to catch the big fish.

So, caring for your stakeholders and teammates in a manner that can be seen to reward them and motivate them will bring you long haul monetary returns though you have to sacrifice short term gain by providing enough monetary incentives to keep going. A wise and prudent system of being seen as generous to your team mates can give you far greater profits and gains. This is just to illustrate what the saying," it pays to be on good terms with everybody"means!

Step 5 and Step 6 are vital tactics for gaining your hold in the hearts of the Chinese who love guanxi and want to be rewarded generously every now and then as part of their motivation to assist you in becoming rich and powerful.

The last few steps will be discussed in the next blog. Have a good day and cheers

Sally Klaus
Ideas on How to Become Rich