Entrepreneurial Spirit at Work

Living in the USA, we often want to think sometimes that we rule the market on being an entrepreneur. After my recent trip to Asia, I was reminded that the entrepreneurial spirit is alive and well all over the world.

• Is being a successful entrepreneur creating your company and then selling it for millions or billions to Yahoo or Amazon?
• Is being a successful entrepreneur having your company going public?
• Is it having a full board of directors?
• Is it having a 45-page business plan that outlines your next five, ten and twenty years of the company’s future?

Or can a successful entrepreneur be making enough money to live well, have a good customer base, provide for your kids, keep a decent house and enjoy your life/business?

As my wife and business partner were walking the markets in Asia, I always enjoyed the small shops selling anything from fresh fish, corn, shish kabobs and coconut drinks. They had a full business plan in place: marketing, knowing their target market, advertising, negotiating for top margins and customer service.

Here are some of the highlights of their “small business”
1. They had their usual location every night.
2. Had just a one to four person staff with one leading the team.
3. They offered either a verbal or written menu.
4. They had an advertiser out trying to get people to come to their food establishment.
5. They had their pricing in place, with a little room for negotiation.
6. They had their tables set up and brought the product to you.
7. Reaffirmed the sale and followed up after we were done.

This is a great lesson for business owners who are looking for sourcing or importing. It’s a normal reaction to reach out for the largest companies to find a product or service overseas. The only glitch is that the largest companies also come with the largest payroll, property tax, overhead expense and large rolls of red tape to break through.

Contact us to learn ways to get around the largest and get to the best. http://www.bigfootimports.com