Ideas on How to Become Rich - How to do business in China -steps 7 to 10

Ideas on How to Become Rich -
How to do business in China : Steps 7 to 10

Hi good day to all. I will now share the rest of the steps from 7 to 10 so that you have the full picture of what investing in China is like.

Step 7 is an important step. Learning the Chinese Language (Mandarin) is very crucial if you want to gain a foothold into this vast territory. Since the First Emperor of China Qin decreed a common language, the Chinese commoners are unified by a common tongue although there are hundreds of different dialects and races. Even though it is easy to find interpreters and translators, it is good for you to know and understand the spoken language of the Chinese.

When you have to rely on translators, some of the meanings or ideas may be lost in transition. It is good for you to use the Chinese language especially in conversation with them to show your rapport and friendliness. Investment in learning the Mandarin language will help you vastly in securing deals because you are giving them face when you can speak their lingo.

So do not hesitate to learn Chinese now. It is the right moment to learn as China is growing steadily as a world economic power, surpassing Germany as the second largest economy in the world in 2009.

The next step would then to have a realistic business plan that is able to flexible and fluid to accommodate the whims and fancies of the Chinese people. Always expect the unexpected in China. Never assume anything because things can change suddenly. In China, anything is possible and everything can also be impossible.

Your business plan must be able to have strong fundamentals and yet flexible enough to endure any changes in the manpower, legal and social regulations that may come without warning.

The last step which is Step 10 - just do it. This is like the Nike's logo. Follow your heart and follow your instinct when doing business in China because the journey of a thousand miles must begin with a single first step. Learn as much as you can, do as much as you can and work as hard as you can - the three mottos of success in living and working in China.

That is all that I can share with you from my own personal experience of working and living in China. It is a wonderful experience because what you learned from the people is far richer than what you gained from them monetarily or financially. Of course, you become richer in both ways.
See, it is a win-win situation to be able to go into this land of opportunity.
Think about it and go for it if you can!

Good luck to your venture of finding riches in China
Sally Klaus
Ideas on How to Become Rich

Short companion article on Singapore-China investment

Singaporeans Investing in China? Lessons Singaporeans can learn from a young British businessman

In Singapore, the government usually tries to encourage entrepreneurship. The government also tries to encourage locals to invest in China, to exploit the opportunities, as most of the local population can speak fluent Mandarin.

The key lessons that Singaporeans can possibly learn from Kerswell, the motivated and entrepreneurial teenager from the UK who runs an import business from China, are the following:

An ability to take risks. Kerswell took the plunge and went to China despite not knowing much of the language and having only a rudimentary command. Singaporeans speak fluent Mandarin and many even know dialects, and that should put them in a better position, yet the risk-taking element is not present. That needs to be changed. We should emulate people like Kerswell, and local hero Sim Wong Hoo who went to the United States in order to pursue his business opportunities with his sound card.

A wider perspective and a global mindset. There’s something to be said about a British teenager in China. The lessons are that globalisation is not a force to be feared but can be put to huge use, where opportunities can be exploited. Kerswell saw an opportunity to bring some good product from China to the UK, and he did; globalisation and a wider perspective are clearly needed for Singaporeans to succeed in China. In today’s globalised world, success is clearly no longer nation-based alone, and clearly international businesses are the wave of the future. There are many economic lessons that we can learn from this young man's actions.

Motivation and enthusiasm. Apart from the old adage that nothing can be accomplished without enthusiasm, Kerswell has shown that hard work, determination, and motivation and enthusiasm can bring many goals to fruition. He explained how motivated Chinese entrepreneurs are, from his description about their entrepreneurial instincts selling melons. Opportunities can be seized better by enthusiastic and motivated people.

Age is no barrier. As a young person with limited capital, Kerswell did more than survive; he prospered in a business environment. Clearly, there are lessons to be learnt here, and age is no barrier to success. His relative youth and inexperience did not count against him.

To conclude, these are only my own personal opinions, as there are many other lessons that we can extrapolate and learn from Kerswell.

Being a Young Entrepreneur - Vernon Kerswell

Vernon Kerswell Flies High

Vernon Kerswell, from Picklescott near Shrewsbury, is a teenager with a vision. At the age of 19, in 2007 he took a crash course in Chinese (Mandarin) at the Manchester University’s Confucius Institute and then used his £1,500 overdraft on a life-changing business trip to remote industrial areas away from Beijing. He then found there a company making lightweight, rechargeable, remote-controlled helicopters and UFOs. He was amazed with what he found and spotted the potential in those toys he saw. Kerswell then specified some design changes, and placed an order for 2,000 of those products. He then stored hundreds of the toys in his student bedroom in Hulme Hall in Victoria Park, Manchester, to deal with the high volume of orders. He sold most of them in one month over Christmas. His Extreme Fliers business sold the three models of helicopter and one UFO via the internet or through five shops. Kerswell, an information systems engineering student at Manchester Business School, won the £1,000 first prize in the Venture Out competition, run by Manchester University’s Manchester Science and Enterprise Centre (MSEC). This annual competition encourages people to put forward ideas with a potential commercial application, with the first prize given to the project that is judged to have the most chance of success.

I met the hardworking and talented young man one day while having lunch at a fast food joint, and found him very likeable, motivated, and an excellent businessman. That is why I was not surprised when I later found out that Kerswell says he used a lifetime’s worth of friends and networks to pull together the necessary skills and knowledge, to make his business work and obtain that prestigious prize.

“Effective management of knowledge was essential for the success of the business,” he said. “I hardly slept during December, I was so busy organising deliveries, promoting the products and dealing with orders and getting them into shops while doing essays and assignments,” said Vernon. Clearly, he has a knack for networking as well as a very good management system that works.

“As soon as I saw the helicopters, I knew this was the product I was looking for. They are fantastic. They use infrared, which makes them very responsive to the controls, and they also have a highly refined battery that gives them extra power compared to cheaper products. They are easy to use but are also very high quality which means they can crash without breaking. Our machines are much more durable and reliable - I ensured they were manufactured ethically in the factory and had quality control people at the end of the production lines to test each one. I am truly grateful to everyone who has offered their skills and time to help make it a success.”

I also asked him about doing business in China, and he had lots to say about China. “China is an entrepreneurs’ paradise – it’s the fastest growing economy in the world – where everyone wants to succeed and grab a piece of the action. Walking down the streets of Beijing, you’ll see people on bikes, towing a trailer laden with melons, rocking side to side, which he will sell, for example. There are opportunities everywhere!”

When I asked him about comments on doing business, Kerswell had this important piece of advice: “Running a business is exciting, you have to have fun and enjoy what you are doing – forget the money, because that will come as the business develops. Extreme Fliers is about developing great new gadgets!”

His motivation is contagious, and his business ideas, solid. You can visit his website at http://www.extremefliers.co.uk/ and check out his excellent products, the X Hunter, Justice, Invader and Rescue. Meeting this outstanding individual was my privilege.

Ideas on How to Become Rich blog