chinamobile

How long will “made in China” be a bad thing?

Long enough, cause China itself and its increasingly dominating economy, do not seem to mind it at all.

In September 2013 China officially took over the place of US as the largest industrial producer in the world. That’s quality in itself, facilitated by clever utilization of the economic and societal demographics of China as whole that are different from other nations.

China-economy-2

It’s a “Chinese industrial revolution” paradigm, and such paradigm takes time to be changed. Besides, competition from only-high-quality-products traditionally industrial countries (UK, US, Germany, Japan, France, Italy etc.) is still there. There was a time when one would go for Taiwanese products when compared to Chinese ones, let alone ones that are made elsewhere like in Europe of the US. This is now history, cause the choice for “better Chinese” is there, too.

 premier-rio-stall

Now, the Chinese manufacturing culture is showing a non-contradictory, quite transparent distinction (in my opinion) between low, average, high, extremely high quality (luxury) production. This discussion dates from at least 15 years ago, when it became clear to the world that big international brands deliberately choose China for their re-locating production plants, benefiting from low labour-cost and serving the profit motive without jeopardizing their brand equity in their “native markets” as a result of change in quality perception. Selling to “high-affluence” critical markets like the US and Europe, quality had to be maintained to abide by quality measures like the famous CE mark used in Europe.

chinamobile

China makes high quality products, from cloths and apparel to electrical appliance and electronics and heavy materials and the list goes on. The only reason why the old “bad quality” label/stigma is still stuck to China, is the fact it is also a flourishing big market for cheap low-quality re-make products too. Who cares? Well, nobody. Because, it works!

top-chinese-brands

Business Idea-1

You have the start-up capital, now which business to tap into?

You have the money? Great! Now, wait! Be patient, careful and thorough without losing your sense of adventure and creativity to invent or innovate.

You’ve the greatest of obstacles to entrepreneurship moved out of your way, don’t put obstacles yourself. Don’t rush into thinking that having capital will make any business idea revel in success.

Here are some tips:

  1. Consult your mind and your character. Will you be the captain of your business? Then you must choose of a type of business that fits your character? Will you be the business owner only and leave day-to-day leadership to someone else from day one? Then, your scope of choices should involve the choice for the best leadership too.
  2. Conduct generalist brainstorming research about “gaps in the market”. What’s new, hot, successful, durable, international, expandable or secure, depending on your own imagination of how your business should be like in3-5 years.
  3. Don’t limit yourself to your local or national borders. See what others are doing oversees and take the possible advantage of being first in your own territory.

    Knowledge, Passion & Profitability

    Knowledge, Passion & Profitability

  4. Know your future competitors and current inspiration sources. Visit the website and if needed physical locations of existing companies that you wish you’ve started. There is no shame in copying and improving existing idea’s and being a starting probably inexperienced entrepreneur, you will learn a lot from others about what you can and cannot do, without re-inventing the wheel.
  5. Network with people, visit business seminars at your local chamber of commerce, join business clubs, connect online, visit universities (yes, universities!) and don’t disqualify anyone from being a source of inspiration.
  6. Narrow down your research to specified sectors or markets of choice and make your research thorough this time.

    Which business

    Which business

  7. Consult country, market and sector reports from official entities to entrench yourself in the statistical side of your endeavor.
  8. Write down your business ideas in non-official formats and see whether it makes sense, once written down.
  9. Write a feasibility study. Does it still make sense?
  10. Draw up a pilot business-plan. Does it still make sense?

 

If yes, then congratulations you’re on your way to conceptualize what used to be a dream/idea.