The "Ten-Word Sutra" of Hong Kong Entrepreneurs
Author: Unknown
Source: Internet
Updated: September 12, 2010
1. The "Fast" Word Sutra
As the saying goes, "Rowing a boat to cut the rope first, selling mooncakes ahead of others." In short, in business, one must know how to be the first to taste the soup. These money-making tactics that emphasize speed are often seen in trendy and seasonal products. For example, when a popular film genre emerges, everyone races to screen it, from kung fu comedies to hero films, zombie films, gangster films, and even adult films – these often lead to a rush where everyone tries to be the first. Because if you hesitate, you'll only get the leftovers. Another example is the publication of zodiac fortune books, which now come out earlier each year, usually starting to hit the shelves after summer vacation. Some people even release ten years' worth of content in audiovisual format all at once, though market reactions to such releases are generally lukewarm. For some innovative products, launching too early may mean people aren't ready yet, finding it too fast-paced to accept, as is the case with fashion design.
2. The "Sharp" Word Sutra
The image of the sharp-witted entrepreneur is characteristic of a new generation of Hong Kong businessmen. Cleverness and precocious maturity are traits people admire, and these images help promote both their personal brand and their businesses. Familiar examples include figures like Jimmy Lai, Guo Guohua, Stephen Chow, Patrick Yu, John Woo, Catherine Liang (sharp woman), and Tianmei Liu.
3. The "Have" Word Sutra
To have a decent "stall" or "facade" will attract customers or loyal patrons. This is why establishing a company is important – people generally believe that business is built on the foundation of having resources and assets. Therefore, you must give the impression that you're not "without anything," and that the other party isn't your first patron. The Bible says, "To those who already have, more will be given." However, while the company might just be a shell, some people prefer to trust a shell rather than a living individual.
4. The "Brave" Word Sutra
One of the most popular idioms among Hongkongers is "A brave man knows no fear."
Thus, it's said that Hongkongers are especially adventurous. Whenever there's a new market or business idea, someone will dare to try it. Of course, bravery must be accompanied by strategy. But for those known for their ability to "swim against the current," bravery can be particularly advantageous. Many entrepreneurs embrace this spirit of fearless courage.
5. The "One" Word Sutra
Hongkongers have a particular fondness for the number "one," as seen in names like "Number One Abalone," "Weekly Magazine," "Top-selling Beer in Hong Kong," and "World's Best-selling Cigarette." Being number one is the spirit of capitalism. In advertising slogans, company names, and market positioning, Hongkongers exhibit an "A-one" spirit. Despite being serious and sometimes arrogant, aiming to be "number one" is the ultimate goal for countless entrepreneurs. It satisfies the public's desire for embellishment and appeals to their tendency to follow trends.
6. The "Stupid" Word Sutra
The underlying strategy behind the "stupid" word is that appearing stupid conceals cleverness. "Stupid" is merely a packaging tactic. Chinese culture has long embraced strategies like "feeding pigs on your knees, for the sake of money" and "pretending to be a pig eating tigers." In business, when someone repeatedly claims "no profit," "definitely losing money," "selling big packages to benefit neighbors," or "sacrificing once for long-term gain," they might actually be insincere. The most successful salespeople might outwardly appear clumsy but are highly skilled. Some shops constantly advertise "clearance sales" or "massive discounts leading to losses," using this "appearing stupid but being clever" strategy. Otherwise, how could they declare bankruptcy every year and still continue operations? Sometimes, massive customer appreciation sales are merely ways for companies to liquidate old inventory and raise cash.
7. The "Play" Word Sutra
Many entrepreneurs say, "I do small business purely for fun." You might admire their carefree style, but if you buy their products or services, you'll find their charges aren't exactly playful. To project an air of nonchalance, one must first be highly competent and confident to avoid appearing frivolous and superficial. Many entrepreneurs offering specialized skills adopt this attitude, such as commercial art designers, photographers, novelists, and musicians, who often display what's called an "artist temperament." This is a challenging form of personal branding, implying "If you don't like it, you don't have to buy it." Sometimes, it's a strategy of taking one step back to advance two steps forward.
8. The "Diligence" Word Sutra
This is one of the oldest entrepreneurial mottos. Frugality and diligence can build a family fortune. Successful entrepreneurs from the previous generation, like Robert Lin and Run Run Shaw, were diligent businessmen. "I made my fortune through hard work and frugality" is the best explanation of their success journey, without needing to delve into any inconvenient "inside stories." There's no doubt that diligence is a necessary condition for entrepreneurs, especially in the early stages of business. Without diligence, success is unlikely. However, diligence alone isn't enough for entrepreneurial success. Diligence means not only physical effort but also mental effort. Only those who think critically, have brains, and seize opportunities will succeed.
9. The "Trust" Word Sutra
"Trust" has two meanings: the first emphasizes "creditworthiness," and the second emphasizes "confidence." In business, credibility is crucial. The confidence of business partners, banks, suppliers, and consumers is one of the most valuable assets of a commercial institution. Creditworthiness is built up bit by bit and is essential for entrepreneurs planning for long-term development. This is one of the oldest business ethics.
10. The "Follow" Word Sutra
Not everyone wants to be a trailblazer because it carries great risks. Most people prefer to follow trends—"whatever is popular, I'll do." As long as you stay close to the trends, you won't lose money. When pool games became popular, everyone opened pool clubs; when electronic games became hot, everyone opened gaming centers; when karaoke was in vogue, everyone started karaoke bars; when crystals became trendy, everyone sold crystals; when real estate boomed, everyone speculated in property… Some might see this as catering to vulgarity.
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