hi my company is cangzhou jinxinlei pipeline o., ltd. glad to be here.
sometimes we always waitting, just waiting and do not know how to face a new situation .at the moment ,we really do not know how to do? i think we should think over and over about it. in fact ,we ommomly use one way to treat sth , which is not very suitable sometimes.
the crisis is not so terrible, what we should do is change ourselves. it can influence our products and market ,but it cannot change our mind.
so we need make our effort to agree with it and change our situation. and i hope all of us can be better and better
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Quoting from [verapang]:hi my company is cangzhou jinxinlei pipeline o., ltd. glad to be here.
sometimes we always waitting, just waiting and do not know how to face a new situation .at the moment ,we really do not know how to do? i think we should think over and over about it. in fact ,we ommomly use one way to treat sth , which is not very suitable sometimes.
the crisis is not so terrible, what we should do is change ourselves. it can influence our products and market ,but it cannot change our mind.
so we need make our effort to agree with it and change our situation. and i hope all of us can be better and better
Hello verapang,
You have pointed out a very interesting question, in how you success in a economic crisis.
In order to think about success, one first must understand how the crisis happened. Basically, nowadays the major continents that were hit by the crises is no doubt US and Europe, but because the whole banking system is interconnected the collateral damage was caused all around the world.
If you think about the way you have done business uptil now to a certain degree, was through the bank, and mostly credit business (LC). Now if you are planning on supplying a buyer from Europe or US, then its obvious that you will do a LC, since the US and European buyers rarely do Cash business (T/T).
So here is where the problem starts, now since US and European buyers work more with Banks (credit), they are able to buy also a higher Volume in goods. therefore a lot of suppliers try to fullfill their demands, since more volume more business in the long run.
During this whole proccess many of the suppliers forget about the small buyers and small volumes, which if you look at it are more profitable, have less risk, and are also a longterm business.
Now the one thing that many forget is if lets say a US or European buyers can't pay for various reasons, its obvious that the supplier will lose a substantial amount in one go, and may go out of business as well. Therefore the only suppliers left in the picture are the once how have a small and steady supply of goods to small business.
As you mentioned earlier Verapang, that it is more of a thinking problem rather then the economic problem. The economic crisis was going to happen sooner or later no matter what you do, the only thing you can do is to adjust according to the situation, and who ever does it the best succeeds.
Yet again its not easy to find the right path in the current situation, but I am sure everyone aggree that now is the time for low profile, and small volumes business rather then high volume with higher risk. Come to think of it the market was very much oversaturated, and now the economy is cleansing itself of it, and those who remain will succeed.
So its only a matter of who survives the longest now, only he will succeed.
peace people
Quoting from [Firo]:You are right, Keep on to succeed.Quoting from [verapang]:hi my company is cangzhou jinxinlei pipeline o., ltd. glad to be here.
sometimes we always waitting, just waiting and do not know how to face a new situation .at the moment ,we really do not know how to do? i think we should think over and over about it. in fact ,we ommomly use one way to treat sth , which is not very suitable sometimes.
the crisis is not so terrible, what we should do is change ourselves. it can influence our products and market ,but it cannot change our mind.
so we need make our effort to agree with it and change our situation. and i hope all of us can be better and better
Hello verapang,You have pointed out a very interesting question, in how you success in a economic crisis.
In order to think about success, one first must understand how the crisis happened. Basically, nowadays the major continents that were hit by the crises is no doubt US and Europe, but because the whole banking system is interconnected the collateral damage was caused all around the world.
If you think about the way you have done business uptil now to a certain degree, was through the bank, and mostly credit business (LC). Now if you are planning on supplying a buyer from Europe or US, then its obvious that you will do a LC, since the US and European buyers rarely do Cash business (T/T).
So here is where the problem starts, now since US and European buyers work more with Banks (credit), they are able to buy also a higher Volume in goods. therefore a lot of suppliers try to fullfill their demands, since more volume more business in the long run.
During this whole proccess many of the suppliers forget about the small buyers and small volumes, which if you look at it are more profitable, have less risk, and are also a longterm business.
Now the one thing that many forget is if lets say a US or European buyers can't pay for various reasons, its obvious that the supplier will lose a substantial amount in one go, and may go out of business as well. Therefore the only suppliers left in the picture are the once how have a small and steady supply of goods to small business.
As you mentioned earlier Verapang, that it is more of a thinking problem rather then the economic problem. The economic crisis was going to happen sooner or later no matter what you do, the only thing you can do is to adjust according to the situation, and who ever does it the best succeeds.
Yet again its not easy to find the right path in the current situation, but I am sure everyone aggree that now is the time for low profile, and small volumes business rather then high volume with higher risk. Come to think of it the market was very much oversaturated, and now the economy is cleansing itself of it, and those who remain will succeed.
So its only a matter of who survives the longest now, only he will succeed.
peace people
![[em19]](http://img.alibaba.com/images/eng/style/icon/emoticons_great.gif){kind=icon}
Now you have sufficient time to prepare yourself for even more hard competition in the future. It's time for homework.
Quoting from [Firo]:Quoting from [verapang]:hi my company is cangzhou jinxinlei pipeline o., ltd. glad to be here.
sometimes we always waitting, just waiting and do not know how to face a new situation .at the moment ,we really do not know how to do? i think we should think over and over about it. in fact ,we ommomly use one way to treat sth , which is not very suitable sometimes.
the crisis is not so terrible, what we should do is change ourselves. it can influence our products and market ,but it cannot change our mind.
so we need make our effort to agree with it and change our situation. and i hope all of us can be better and better
Hello verapang,You have pointed out a very interesting question, in how you success in a economic crisis.
In order to think about success, one first must understand how the crisis happened. Basically, nowadays the major continents that were hit by the crises is no doubt US and Europe, but because the whole banking system is interconnected the collateral damage was caused all around the world.
If you think about the way you have done business uptil now to a certain degree, was through the bank, and mostly credit business (LC). Now if you are planning on supplying a buyer from Europe or US, then its obvious that you will do a LC, since the US and European buyers rarely do Cash business (T/T).
So here is where the problem starts, now since US and European buyers work more with Banks (credit), they are able to buy also a higher Volume in goods. therefore a lot of suppliers try to fullfill their demands, since more volume more business in the long run.
During this whole proccess many of the suppliers forget about the small buyers and small volumes, which if you look at it are more profitable, have less risk, and are also a longterm business.
Now the one thing that many forget is if lets say a US or European buyers can't pay for various reasons, its obvious that the supplier will lose a substantial amount in one go, and may go out of business as well. Therefore the only suppliers left in the picture are the once how have a small and steady supply of goods to small business.
As you mentioned earlier Verapang, that it is more of a thinking problem rather then the economic problem. The economic crisis was going to happen sooner or later no matter what you do, the only thing you can do is to adjust according to the situation, and who ever does it the best succeeds.
Yet again its not easy to find the right path in the current situation, but I am sure everyone aggree that now is the time for low profile, and small volumes business rather then high volume with higher risk. Come to think of it the market was very much oversaturated, and now the economy is cleansing itself of it, and those who remain will succeed.
So its only a matter of who survives the longest now, only he will succeed.
peace people
Dear Firo,
Great thinking! wonderful! I totally agree with you. Yeah as you said, what we see now is, the small business dealing with cash, are ok...It is the time for people to calm down and think about their future...Firo, say more, we have a lot in common.
Jon
Dear Friend, we need work harder and don't give up. In this economic crisis, we just keep normal running, and save expenses. Come on !
Quoting from [GavinJWang]:Quoting from [Firo]:Quoting from [verapang]:
Dear Firo,Great thinking! wonderful! I totally agree with you. Yeah as you said, what we see now is, the small business dealing with cash, are ok...It is the time for people to calm down and think about their future...Firo, say more, we have a lot in common.
Jon
Hello People,
I just would like to add some more info. As we can all see the financial crises that we are facing currently is only the tip of the iceberg, there is still a lot of trouble coming into ourways.
It is now increasingly more difficult to survive during this times, so therefore I cannot stress this issue long enough that everyone needs to cut back in costs and change the way of work they have been doing till now, as mentioned before, its better to have a small but steady supply chain in this times.
In addition to that, many also have to start to cut back on profits, in order to keep the customers, which in a way is also a problem, since the cost of living is becoming increasingly expensive.
The best solution to that is to diversivy, yes you all heard correct, diversivy the business. Anyone who is only dealing in line of work, cannot survive anylonger, due to the cut back in demand and interest. So therefore it is essential that many of us business man need to also learn another additional line of work, since then one will be covering costs and the other will bring in the profits.
The times have finally changed, and I have been saying to many of my business collegues throughout the past few years, that nowadays a business has to do 2 or more lines of works in order to succeed, now how to do it that everyone has to find out by themselfs.
All I can do is give some examples. I used to deal in ready made garments, I had 5-6 shops each around 200 to 900m² in sizes, requiring a weekly supply of 3 - 4 trucks of goods, initially everything was running well, but as anyone from the garment line knows that the margins started to fall back, at first every year then every month and then every week, this has been happening for the past 5-6 years on a steady base. Now the problem was, that since the profits started cutting back, I still had to invest the same amount of money to make whatever profits I was making, as you can see that doesn't last very long, so i started to close down the shops that were the most expensive once, even though the brought me a good amount of sales, i still dropped them, since it was only matter of ime before I could not hold on to it any longer. The next thing I did was cut back on the workers, and started putting in overtime myself, till the day came where I worked almost 18 hours a day, which was about 4 years ago, finally I realised that the problem is only going to increase, since in order to make the profit I made I still had to invest double, for every piece sold I still had to buy 5, so that one piece could be sold. To break that down, I started to get my load the trucks myself and decided to cut down the middleman, and started to get the goods personally, before I could do that I closed down another 2 shops, since I alone could not supply 5 shops on my own, since each shop required 1 truck load a week. And again I cut down the expensive shops. But i still had a problem, now since I closed the shops I still had so much stock leftover which in fashion means its not worth anything anymore.
continued
continued
So I decided to use one shop as a outlet store only, the other one only for fresh goods, at first it worked very well, and yet again started seeing that I was still losing in the long run. Then one day as I was driving to germany to the wholesalers, I realised that I have to start another business, so as not to make my trip only for the textile, I would use the time to find other business. And thats how I started my scrap business, then came the time I have even worked up to 21 hours a day, since I had to run the textile and still learn and start up the scrap business. It took me about 5-7months for the first deal and to learn everything about it on myown, but I managed it. But before I started up the scrap business I was confronted with another problem, the cost of the new business. So I decided to go to India, since its 1/10 of the cost of Europe in terms of labor cost and property renting. so before I could do that, I even closed down another store, leaving me with one, and installing cameras in the shop that allowed me to view everything and anything through the net, as to keep control and still coordinate the shop from whereever I was.
So thats how I was able to start up 2 business at once. Yet again still face one big problem, trading is not a fix income, since at times you have good business and at times you had bad, so what to do about thos bad times, then it struck, that I need a fix income source on monthly basis, that even if I made a loss I could still recover the next month from it.
I still had the last shop of mine, which thanks to my father before he expired, he convinced me to buy it together with him, that safed my life, I was able to rent out the property, and opening another textile shop, even at a lower cost then before, since I had all the goods and shop accessories, so that transition worked thank god very well.
Now I was able to establish a monthly income source, which took me 2years to do so, its easy talk but requires a lots of patients and effort.
So now I was able to establish 2 types of income, one on daily basis (trading) and one on monthly basis. Yet I was not satisfied, since right about then the Financial crisis hit in worst way possible, even destablising the system I build so hard, since through the financial crisis all my retail customers were effected and so was my tenant since if he doesn't make business he will not be able to pay rent.
In order to secure that I managed to establish a good group work, that helped us survive once again, and even expand a bit more.
Now here and today, I know what we all need to do to survive this crisis, one alone cannot survive in this cirisis, in order to survive and succeed, one needs to establish a group,
That can handle multiple business and in a ways secure a monthly income, in order to do so we all have to change our mentality, like my father would say.
"Eat less, share more and all will laugh together"
So once again its all a thinking problem, and greed is what we all need to get rid of. This is what helped me to succeed sofar. Alone you will get tired and fall, together you will never get tired and picked up after you fall.
I hope that my experience will come some of you guys in handy.
peace
Firo wrote:So I decided to use one shop as a outlet store only, the other one only for fresh goods, at first it worked very well, and yet again started seeing that I was still losing in the long run. Then one day as I was driving to germany to the wholesalers, I realised that I have to start another business, so as not to make my trip only for the textile, I would use the time to find other business. And thats how I started my scrap business, then came the time I have even worked up to 21 hours a day, since I had to run the textile and still learn and start up the scrap business. It took me about 5-7months for the first deal and to learn everything about it on myown, but I managed it. But before I started up the scrap business I was confronted with another problem, the cost of the new business. So I decided to go to India, since its 1/10 of the cost of Europe in terms of labor cost and property renting. so before I could do that, I even closed down another store, leaving me with one, and installing cameras in the shop that allowed me to view everything and anything through the net, as to keep control and still coordinate the shop from whereever I was.
So thats how I was able to start up 2 business at once. Yet again still face one big problem, trading is not a fix income, since at times you have good business and at times you had bad, so what to do about thos bad times, then it struck, that I need a fix income source on monthly basis, that even if I made a loss I could still recover the next month from it.
I still had the last shop of mine, which thanks to my father before he expired, he convinced me to buy it together with him, that safed my life, I was able to rent out the property, and opening another textile shop, even at a lower cost then before, since I had all the goods and shop accessories, so that transition worked thank god very well.
Now I was able to establish a monthly income source, which took me 2years to do so, its easy talk but requires a lots of patients and effort.
So now I was able to establish 2 types of income, one on daily basis (trading) and one on monthly basis. Yet I was not satisfied, since right about then the Financial crisis hit in worst way possible, even destablising the system I build so hard, since through the financial crisis all my retail customers were effected and so was my tenant since if he doesn't make business he will not be able to pay rent.
In order to secure that I managed to establish a good group work, that helped us survive once again, and even expand a bit more.
Now here and today, I know what we all need to do to survive this crisis, one alone cannot survive in this cirisis, in order to survive and succeed, one needs to establish a group,
That can handle multiple business and in a ways secure a monthly income, in order to do so we all have to change our mentality, like my father would say.
"Eat less, share more and all will laugh together"
So once again its all a thinking problem, and greed is what we all need to get rid of. This is what helped me to succeed sofar. Alone you will get tired and fall, together you will never get tired and picked up after you fall.
I hope that my experience will come some of you guys in handy.
peace
Firo, thanks for your share.
I got that I should have one fix income. Thus, when I am in trouble, as you said, I could recover.
In a word, I learned knowledge today. Thank you.
