Chinese lessons: Three smart tips for growing your business

Written by ProfitGuide

Borrow the best ideas

Adapt products that were developed elsewhere to meet local needs. Most people can’t afford high-end goods, so re-engineer them into basic-quality products with a far bigger market.

Spend where it counts:

Invest only in areas that will benefit your firm most. Focus on, say, top-notch production equipment rather than lavish offices.

Negotiate with discipline:

Control your feelings. Never lose control, swear or get upset. Exercise self-discipline so you don’t blurt out key information in the heat of negotiations.

— From “Secrets of the Orient,” by Deena Waisberg (March 2005)

Originally appeared on PROFITguide.com