“Brits get rich in china” 02/10/13
The Entrepreneurial skills:
Tony – from Liverpool (“King of cushions”)
Very ambitious – got a loan from the bank and used all his savings to set up his cushion business in China.
Willingness to take a risk, invested £2m into building a factory, the business would either be very successful or fail miserably based on the production of the factory. So it was a calculated risk that was involved
Confident, he believed that his idea would succeed, took massive orders in a cushion convention and promised that he would deliver – shows he has confidence and self assurance in the business and product
Creative – offered a wide range of cushions to customers, showed a variety of different designs. Had a competitive advantage over competitors as products (materials) cost cheap to develop and then sell in the UK market
Determined – driven to succeed. Followed and checked up the progress of the factory and overall project. Working constantly at night and during the day with workers in order to make the cushion business a success
Peter – the 70 year old ex soldier (veteran)
Spotted a gap in the market for more efficient air conditioners, very logical thinking – very clever
Very ambitious, expected to make millions of money by selling off these smart machines to big companies, expected to sell at least 50 million
Very driven, wouldn’t back down – was turned down time and time again by Chinese retail companies and other businesses but, did keep on trying. Kept going at it by setting up more meetings in order to showcase product “some of us weren’t made to give up”
Willingness to take a risk, partnered up with Chinese tycoon in order to sell and promote his product, put a lot of trust in this