As masters of innovation, doing more with less and the art of negotiation, Chinese entrepreneurs offer smart techniques you can adopt at your own company:
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
FILED UNDER: ProfitGuide small business
