What Nigerians can learn from the Chinese: Chinese is the world most exciting economies in the world and its business leaders continue to amaze and inspire entrepreneurs around the world little wonder why 24% of the world billionaires are Chinese. The only times when ethnic Chinese societies floundered economically were those times when the government were extremely corrupt, causing political instability or during the radical anti-business periods of Mao Zedong’s Leftist Cultural Revolution which try to suppress personal initiatives and entrepreneurial spirit.
Chinese is the world most exciting economy in the world and its business leaders continue to amaze and inspire entrepreneurs around the world little wonder why 24% of the world billionaires are Chinese. The only times when ethnic Chinese societies floundered economically were those times when the government were extremely corrupt, causing political instability or during the radical anti-business periods of Mao Zedong’s Leftist Cultural Revolution which try to suppress personal initiatives and entrepreneurial spirit.
During my National Youth Service year in Lagos State, Nigeria. I came across many Chinese in different places especially in popular ‘Computer Village’ in Ikeja, Apapa, Balogun Market in CMS and even at Yaba market. They mixed up quick so easy with the locals speaking broken English popular known as “pidgin” thus showing you their adaptive spirit, even at times board tricycle popular known as “keke napep” with them.
I decided on my own to do an online research on why the Chinese are very successful people in the world. Also, if you are observant or into multi-level business marketing, the various CEOs or owners are mostly ethnic Chinese. This should tell you something.
For the sake of this article, permit me to break down some of my research into sub headings.
5 SECRET OF CHINESE SUCCESS:
1. Dont rush decisions:
They don’t rush into decisions In China, every entrepreneur takes their time over things that matters. They take time to make decisions and take time to trust people too. Even though they might be criticized for dragging their feet atleast their meticulousness pays off in future and they get their priorities right too.
While in Nigeria, we rush into decisions in selecting business without studying those decisions if they are right. For instance, decisions bordering in choice of business. Most Nigerians rush into business without first considering some factors like:
• Is it for a short or long run?
• How prepared are you mentally, psychologically, financially and otherwise.
• How frugal are you with resources?
• Are you meticulous in spending?
2. Takes chance:
Wonder why Chinese already have a powerful presence in Africa? They know a good opportunity and they seize it. Once they have set their mind to do something, Chinese entrepreneurs transform their business quickly.
Do Nigerian entrepreneurs take chances?
3. Very Adaptive:
Chinese knows how to adapt in every situation or business environment they found themselves, like I said in the introductory of this article on how I met some ethnic Chinese in the streets of Lagos. On a certain occasion, on my way to Ajah from Ikeja to see a client after carrying out some transactions in Computer village. I was contemplating on the best route to take. I decided I was going to get to Alausa first to pick a thing or two at Shoprite before boarding CMS from there since I still have 3hours more to spare. When I got to the bus station (just a makeshift one just after Ikeja under bridge). I couldn’t find any vehicle to convey me to my destination, I decided to walk down a little to see if I can be fortunate enough to get any along Obafemi Awolowo road. I have not walked up to 100mitres from the make shift bustop station when I saw a commercial ‘danfo’ going my way stopped right some fractional distance away from me heading to CMS. I quickly jump in forgetting that I needed to get Alausa first, but common man! Who need Alausa Shoprite when I can as well get one at Lekki. But, Bro didn’t I thought of this before? Well, the conductor inside the vehicle decided he will inflate the price knowing Nigerians and how they take advantage of situation like traffic and go slow can skyrocket fares by additional 50-70% depending on the severity of the situation. Anyway I didn’t bother since I have only two options either to pay the exuberant fare or go down and continue walking. I just took latter option. Just as I was about paying my fare to the conductor, I heard a very strange accent; “me drop for Balogun market” I knew this was a special Nigerian probably my brothers from the North. Unlike me, I always mind my business, when am in public transits but only seldomly join in conversation only when it gets to do with things that interest me but the ‘amebo’ in me decided to take a look at fellow. Lo and behold, I saw all ethnic Chinese occupying the last row of the ‘danfo’. I was amazed when of them spoke Yoruba to the conductor so fluently to give him his change. Men, it was flawless well according to other passengers with me who are more fluently than I am. This got me thinking, how these people could be more interested in our local language than the colonial master’s one. From the above story, you could see them continually leaning and adapting their business environment to fit in different circumstances.
Finally, is erroneous to conclude that Chinese only produce inferior or substandard goods. The truth of the matter, they can produce super standard, standard and substandard depending on the economy of the climate they found themselves hence they adaptive to fit in any situation.
4. They Look on the bright side:
Chinese don’t whine when politicians in government brings new policy that works against their business. They look at the policy holistically and decide where their business fits in the new policy. They are unlike us that keeps whining with how the government is clueless and useless. Some may even retrench workers while for some others will wind up. The Chinese instead proffer solutions to any circumstances. The Government of Nigeria earlier this year signed MOU with Chinese Government in key sectors of the economy from energy to other infrastructural development like Light rail, super high ways and even to Smaller and Medium Enterprise. Although we can argue that this is entire different discuss but we can learn how Chinese Government took advantage of our infrastructural deficit and some of our policies on ban about 53 items that were mostly imported from China. They didn’t cry or whine or gave up on us. They instead explore other gaps they can fill in and they finally got the better bargain to even to the envy of the Western world and Washington.
Lessons they learn here that billionaires in making are natural optimist, they don’t let government or politicians spoil their days.
5. They are very decent:
Chinese entrepreneurs care about reputation and integrity. They believe that losing face is shameful so they have very strong sense of honour. Equally they expect others to deliver on their promises. They value their communities and families greatly. They know that building a successful business is a team effort. I believe as Nigerians were trust is precious, if you can found that confidant that you trust as either business partners or clients. You will be more comfortable to transact business with such a people.
WHY ARE CHINESE VERY SUCCESSFUL?
• They are not afraid to take a risk and chance. Remember the greatest failure is not trying at all.
• Hard work
• Delayed self-gratification for the sake of long-term future benefits and
They avoid too much debts
They make use of their loans
They dont spend more than what they earn
To them, it is unhealthy to have deficits
They don’t have too much loans
They save for a better future