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Am an ethnically Chinese Singaporean. That is not really true. Chinese businessmen have a way of doing business that is pretty unique and not startup-like. Som
by nubela 6y ago
Am an ethnically Chinese Singaporean. That is not really true. Chinese businessmen have a way of doing business that is pretty unique and not startup-like.
Some examples:
1. Real estate purchases (with bank loans) are a superior alternative to renting because paying mortgage beats making a landlord richer. Also, east-asian culture believes that very few things beat the appreciating value of land.
2. We love profit. I for one, started a company since I graduated moving from one product to another. And I do not tolerate making losses unless there is significant expectation of profit in the short-term. (I think this applies to older generation "chinese businessmen" because we never had such a thing as venture capital.
- rtx 6y agoThat's how small to mid size business used to be run. Successful ones always worried about margins before growth. We get this trope in other regions too, like Jews in the west and Marwaris in India. What made them succesful was generational knowledge. As there were no business schools.
- Answerawake 6y agoI have long suspected there was this generational knowledge that some tend to rely on and others don't. I wonder if there are any attempts to document this generational knowledge somewhere like in a blog or a book.
- rtx 6y ago> blog or a book. Never heard of any in popular culture, you question prompted me to search. I found a good article about of the communities I mentioned above. https://nextbigwhat.com/marwari-business-principles/ https://nextbigwhat.com/marwari-business-principles/
- Answerawake 6y agoThank You!
- kgwgk 6y agoBusinessmen are "non-startup-like" all over the world as far as the "prefer profits to losses" part goes. And I suspect that the love for real estate is also widely shared (including by non-businesspeople).