18 hours a day
I don't write this to scare you. But it's real. And it's time to change how we operate our businesses.
I watched a CNA segment yesterday on how Chinese businesses are reshaping the business landscape here in Malaysia.
Watching the video reminds me why I don't watch a lot of news. (News is mostly negative)
But there are some truths.
It used to be only China hotpots.
Everyone was like OK, we're cool. I like hotpots.
But now, Chinese businesses are in every sector. And now everyone is seated up.
They are extremely hardworking, and willing to put in long hours – some up to 18 hours a day. - Ann Wang, MHA
Their prices are extremely low. They don't follow the market rates.
How do we stay defensible?
So how do Chinese businesses operate?
They optimize on:
- Systems
- Speed in marketing
- Relationships (Customers & trade)
The good news is the three things are learnable.
The current game is about building systems, having speed to market, and building better relationships.
Here are 3 questions to audit your business today.
- If someone copied your product and priced it 35% below you. What keeps your customers?
- How long does it take you from "We should do this" to it being live?
- When someone in your category asks a friend for a recommendation? Who comes up?
Stay defensible with a personal brand
Unless you've been living under a rock, you've probably noticed founders of all sizes and business types building their personal brand lately.
In a marketplace where everything is a commodity and a race to the bottom, build a brand.
We'll go through how tonight with Claudia.
Go past the invisible lid
If you've been operating your business the same way for years and need a wake-up call, Breaking Barriers is designed for that.
Explore strategy, leadership, tech, and business strategy with award-winning entrepreneur King Quah on 23rd September.
My guarantee is you'll leave the event better than when you walked in.