Entrep special report fan li (cristhel molina pdf)
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Transcript of Entrep special report fan li (cristhel molina pdf)
SPECIAL REPORT: FAN LIa special report on his teachings and enterprise
by: Cristhel Elizabeth Molina
Who is Fan Li?
Also known as Tao Zhu Gong
An advisor and prime minister to the state of Yue during the Spring and Autumn Period
A political and military strategist
An ideologist
A businessman
Considered as the modern day Billionaire of Ancient China, was coined the “god of wealth”
The Story of Fan LiFan Li was Emperor Gou Jian’s advisor in the Chinese State of Yue
During the war between the state of Yue and Wu, both Emperor Gou Jian and Fan Li were captured and taken as hostages
It was during this time that Fan Li encouraged Emperor Gou Jian to live a life of humility and simplicity as a form of strategy in forging human relationships and reclaiming the state of Yue
The Story of Fan Li
After Emperor Gou Jian won back Yue, Fan Li helped him reconstruct the state by developing policies
Fan Li left the emperor to become a businessman and managed a pharmacy
His pharmacy began to expand and eventually became very rich
Wrote about the “Art of Trade”, showing different principles in business
Fan Li’s Contribution to Business
1) Used business analyses by using and understanding the different phenomenons of nature, applying meteorology, season and their effect in agriculture, as well as economic theories
2) Understood the personalities of people and its key role in business
3) Unconventional views on money:
a. A person who understands money is willing to abandon it if it became a burden
b. Money is a means to an end and should not be taken seriously
c. Money should be handled and acquired according to the principles of the “art of trade”
THE ART OF TRADE
Principles of the Art of Trade
• Following the 12 Golden Rules of Business Success and 12 Golden Safeguards (Pitfalls)
• Creating win-win outcomes, wherein competition need not result in a zero sum game
• Creating wealth while improving the quality of life
• Avoiding worst-case scenarios, failures, and business loss
• Minimum input and maximum outcomes
12 GOLDEN RULES OF BUSINESS SUCCESS
12 Golden Rules of Business Success
Ability to know a person’s character
“The most valuable business commodity is trust” - David K. Williams, forbes.com
“One’s social character is often judged by people who may have dealings with you, as they decide whether you are trustworthy, reliable, or such” - Ron Kurtus, school-for-champions.com
12 Golden Rules of Business Success
Ability to handle people
“Managers have to monitor the activities of their team and the external forces. Without that monitoring, you won’t know whether your plan is working or if it needs to be adjusted” - F. John Reh
“Customer ser v ice is impor tant to an organization because it is often the only contact a c u s t o m e r h a s w i t h a c o m p a n y ” - smallbusiness.chron.com
12 Golden Rules of Business Success
Ability to stay focused on business
Everyone has l imited time available, therefore, it is important to do the tasks that will help accomplish the goal
“Focus is so important because it is the gateway to all thinking, without good focus, all aspects of your ability will suffer” - Dr. Jim Taylor, Huffington Post
12 Golden Rules of Business Success
Ability to be organized
“When you are organized, you don’t need to worry about things falling through the cracks” - DBR Chamber of Commerce
Benefits of being organized: 1) Disorganization wastes your creative
energy 2) More work gets done 3) Ease of finding what you need
12 Golden Rules of Business Success
Ability to be adaptable
“Business success requires the ability to adapt to changing situations. The world of business is full of surprises and unforeseen events” - Darrell Zahorsky, 7 Habits of Business Success
12 Golden Rules of Business Success
Ability to control credit
Credit Management The process of controlling and collecting payments from your customers
“Late and non payment of bills can create major cashflow problems for fast-growing companies” - Santander Corporate Banking
12 Golden Rules of Business Success
Ability to use and deploy people
Emphasis on recruitment and hiring
“Successful companies put the right people in the right jobs… It takes a team of with many different talents to bring great business ideas to fruition.” - Amy Rees Anderson, forbes.com
The ability to develop passion and motivation for employees
12 Golden Rules of Business Success
Ability to articulate and market
Business communication and sales
Good communication allows the flow of information in an effective way
Effectively connects the people running the business
“When communication lines are open between a business and its customers, it can directly affect the sales of the business” - smallbusiness.chron.com
12 Golden Rules of Business Success
Ability to excel in purchasing
Purchasing focuses on sourcing, pricing, and buying the right things at the right price
Being able to manage the company’s resources and support the needs of operations
“Purchasing is a source of competitive advantage, they work with suppliers to reduce costs, innovate, and improve quality or speed up deliveries” - Group Intellex
12 Golden Rules of Business Success
Ability to analyze market opportunities and threats
Knowing the industry and the market
Assessing the attractiveness of a business opportunity
Awareness in business opportunities as well as innovation
Awareness of competition and avoiding complacency
12 Golden Rules of Business Success
Ability to lead by example
“Leadership acts as a catalyst that makes all other elements work together; without leadership, all other business resources lie dormant” - David Ingram, smallbusiness.chron.com
Setting standards at the workplace and following them
An attitude and habit that aspires for excellence
12 Golden Rules of Business Success
Ability to have business foresight
Planning and forecasting, looking at the bigger picture
Looking into the internal and external environment of an industry and being able to predict changes and formulate response to ensure long-term survival and success of a company
12 GOLDEN RULES OF BUSINESS SAFEGUARDS
12 Golden Rules of Business Safeguards
Do not be stingy, do not confuse efficiency to inhumanity
“Valuing only work that generates profit is not just wrong, it is inhuman” - theguardian.com
Profitability should not be the only concern of a business
Social Entrepreneurship
“Social entrepreneurs act as the change agents of society, seizing opportunities others miss in order to improve systems, invent and disseminate new approaches and advance sustainable solutions that create social value” - pbs.org
12 Golden Rules of Business Safeguards
Do not be wishy-washy, be confident in pursuing opportunities
“The most important trait a leader can have is decisiveness… Business is a contact sport and you can’t be afraid to make a mistake.” - businessinsider.com
Making decisions that are based on facts and analyses
Common Set-backs of decision making: 1) Risk Aversion 2) Analysis Paralysis
12 Golden Rules of Business Safeguards
Do not be ostentatious, do not overspend
Managing the company’s resources
For a business to achieve a high level of success, a firm must have a grasp of the amount of money that is going out and coming in.
12 Golden Rules of Business Safeguards
Do not be dishonest
“Not only can a man be honest and grow rich, but it is almost impossible for a man to grow rich unless he is honest” - J.J. Corn
Dishonesty clouds judgement and may lead to bad decisions
Having an honest reputation also reflects well of the company
Integrity and Transparency
12 Golden Rules of Business Safeguards
Do not be slow in debt collection
Managing a company’s cash flow, efficiency in collection of accounts receivables
“It takes money to make money”
Diligence in reviewing aging accounts receivables and maximizing collect ability
12 Golden Rules of Business Safeguards
Do not slash prices arbitrarily
Avoiding price wars
“Pricing is the reflection of everything you do as a business, from product development to delivery of goods and services” - Patrick Campbell
Engaging in price wars is a loss situation
12 Golden Rules of Business Safeguards
Do not give in to the herd instinct, make sure all opportunities are real
Herd Instinct A lack of individual decision-making or thoughtfulness, causing people to think and act in the same way as the majority of those around them
12 Golden Rules of Business Safeguards
Do not work against a business cycle
Business cycle is the response to exogenous changes in the real economic environment
The challenge is to sustain growth and development of the company
12 Golden Rules of Business Safeguards
Do not be a stick in the mud, be updated with progress
Being able to adapt to changes and updates in technology and business processes
Relates to adaptability, creating more efficient and effective ways of business
12 Golden Rules of Business Safeguards
Do not overbuy on credit
“Do not buy on money you don’t have”
Managing resources and avoiding overspending
Inefficient payment of credit purchases leads to increasing interest
12 Golden Rules of Business Safeguards
Do not under-save
Creating and maintaining reservoir
Making sure that cash flow is managed well and maintaining assets
Cash reservoir is important especially for unforeseen factors that may affect the business
12 Golden Rules of Business Safeguards
Do not blindly endorse a product
Knowing the product you are selling
Sphere of influence between endorser and their following
Accountability and ownership
Endorses reflect the quality of the product and represents the company that is being endorsed
Sources: http://www.slideshare.net/bright9977/the-‐art-‐of-‐trade-‐by-‐tao-‐zhu-‐gong http://myuberlife.com/post/5869481865/the-‐24-‐business-‐principles-‐of-‐tao-‐zhu-‐gong http://www.tzgpartners.com/docs/taozhugong-‐story.pdf http://www.forbes.com/sites/davidkwilliams/2013/06/20/the-‐most-‐valuable-‐business-‐commodity-‐trust/ http://management.about.com/od/people/a/MonitorandControl.htm http://smallbusiness.chron.com/customer-‐service-‐important-‐organization-‐2050.html http://dbrchamber.wordpress.com/2009/05/05/the-‐importance-‐of-‐being-‐organized/ http://faso.com/Hineartviews/34047/beneHits-‐of-‐being-‐organized http://sbinformation.about.com/cs/development/a/032303.htm http://www.smallbusiness.wa.gov.au/credit-‐management/ http://www.forbes.com/sites/amyanderson/2013/02/27/getting-‐the-‐right-‐people-‐into-‐the-‐right-‐seats-‐on-‐the-‐bus-‐is-‐essential-‐to-‐a-‐companys-‐success/ http://smallbusiness.chron.com/importance-‐good-‐communication-‐business-‐1403.html http://www.groupe-‐intellex.com/editorials/17-‐management/164-‐effective-‐purchasing.html http://smallbusiness.chron.com/importance-‐leadership-‐business-‐3117.html http://www.theguardian.com/commentisfree/2012/apr/27/deborah-‐orr-‐only-‐proHitable-‐work http://www.pbs.org/opb/thenewheroes/whatis/ http://www.businessinsider.com/most-‐important-‐trait-‐a-‐leader-‐can-‐have-‐is-‐decisiveness-‐2013-‐6
THANK YOU 谢谢