Been back in china for a week now after a month in Philippines, what so many people think is im traveling like its vacation! Just when I blogged about how often I blog, I don’t update this for a few days….jeez….
Hahah, this is not a holiday! I guess because im mainly working on a budget (bootstrapping) i always gotta watch every penny coming out. So many people think owning your own business means you can do whatever you want, be the boss – SURE, but you are responsible to keeping cashflow, management etc. Marie has been on holiday for a few weeks….and I’m getting my a$$ kicked trying to keep other staff picking up the slack…..just part of the risks of owning your own business…..you are responsible, and you cannot “pass the buck”
But “living like a local” and Living like a minimalist does take its toll. On top of that working usa and china / asia timezones, back and forth – sometimes sleeping 3 hours, and then sometimes sleeping 12 hours to make up for the long week isn’t sustainable….or at least not without a vacation….
So back to what I’ve been upto back in Shenzhen, China. As planned, I had a lot of “unfinished business” to settle. How things will flow while I’m traveling in USA – accounting (even if there is little activity in the China company, it still needs to be filed each month), mail, and products I have warehoused here still. Doing business in China, while outside, has proved to be EXTREMELY difficult….especially for some “stupid white guy”, my spoken Chinese is very limited, and I cannot read Chinese characters, so how can I access the online banking when its all in Chinese? So I have some people here to watch over things while I’m away. Its all about the hustle, and its all about TRUST. But managing your risks is also important.
But the other main reason why I’m back in Shenzhen is NETWORKING. There are still tons of contacts I have here, and China business is still RED HOT. I took a quick snapshot at a networking event for Shenzhen Professionals last week, you guys like my hair? hah. Also check out the magazine talking about China Power.
China has surpassed Japan as the 2nd largest economy in the world, after USA. But jeez, its still difficult for foreigners to do business here….I don’t care what some of my Chinese friends say, it is HARD (well I think actually most of my chinese friends agree its hard for foreigners to do business in China, but always say you need a trusted local Chinese partner). But I’ll save that for a future post……
As the Chinese economy continues to expand and grow….costs will also increase, and the Chinese Yuan (RMB) will also continue to increase against other currencies in the world…..making it harder for foreigners or export driven businesses to do business here that are not receiving Chinese Yuan or local sales. The key is selling in China….or at least having a strong network here….and I have not given up on that dream / goal. Again, its just WHAT, and its HOW.
But keep on networking, can’t go wrong having solid relationships and contacts inside Chinese borders.