Mix it, pour it, just don’t drink it

It’s important for entrepreneurs to believe in what they are selling — in essence, to create a field of distortion around themselves that makes it seem like anything is possible with their solution. They just need to make sure they don’t believe what they’re saying to the point of distorting their own view.

I often find myself saying to entrepreneurs “your job is to mix it and serve it, just don’t drink it yourself!” This usually slips out of my mouth when I’m talking to an entrepreneur who is pushing their idea so hard that it seems like they are trying to convince themselves of its brilliance, though in most cases I think they actually believe it, which is what concerns me.

This doesn’t mean it’s bad to serve the Kool-Aid to others (metaphorically speaking, of course). Really, as an entrepreneur that’s a huge part of your job: selling others on your dream. And while it’s absolutely critical that you make a case for your product or service that has people fighting to buy it, you have to make sure you critically assess the reality of your situation.

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Chinese studying abroad — an interview with Danny Wang

This is the third and final post in my series on Chinese studying abroad and the entrepreneurs serving them. I recently had the pleasure of interviewing Danny Wang, co-founder of WeblishPal, a platform that connects Chinese English language learners with native English speakers. WeblishPal focuses on serving Chinese students who are interested in studying abroad in North America.

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1.3 billion people drawing you in

I frequently ask business people why they are interested in doing business in China. The most common response I hear involves the promise of 1.3 billion Chinese consumers with rapidly rising disposable incomes. While this may be factually accurate, in my experience I’ve found that it’s safer for businesses to think of China as having many demographic subsets, rather than thinking of it as one country with a homogenous population.
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China, the Lean Startup

The Financial Times, among others, recently reported that China is going to experiment with allowing Hong Kong banks to lend directly to Chinese companies in RMB within a special zone in Shenzhen. It’s poignant that this is happening in a Special Economic Zone, which also started out as an experiment that was then duplicated in other parts of China, and finally led to widespread changes in the Chinese economy.

This type of approach, at a national level, is nearly equivalent to the Lean Startup approach [Read more…]

Lean Startup vs Lean Thinking at Toyota — reflections from someone on the inside

It’s been about nine months since I left a job in Toyota’s Strategic Finance Group for an opportunity to return to China to work for Originate China. At Originate, we create innovative web and mobile apps for clients and also based on our own internally generated ideas, and we also work with entrepreneurs to support their growth by providing strategy and engineering expertise. We are an agile development shop and focus on being nimble, which makes the Lean Startup methodology a great fit for our work.

While working in various business functions at Toyota for over 5 years,[1] I was able to see first-hand how Lean Manufacturing and the Toyota Production System has been applied to non-manufacturing functions. I learned how this methodology can be very effective within Toyota, but also how the Toyota approach to Lean Thinking in a business context with a focus on consensus-building can sometimes slow decision-making to a crawl, making the business anything but nimble. I am therefore in the unique position to apply the Lean Startup methodology to our business in China while avoiding some of the features of Toyota’s approach that aren’t ideal for startups.
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Monetizing apps in China – The Freemium model

There are many challenges facing web and mobile startups in China, including an incredibly dynamic market, keeping your staff from leaving you for one of your competitors and taking your Intellectual Property with them, and copycats that will appear within days of you gaining any interest from consumers or the press. But even if you are able to overcome these challenges and are able gain traction with your mobile or web app, it can be very difficult to get Chinese consumers to pay for your product or service.[1]

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Innovation, and imitation, in China

Whenever I am talking with anyone about entrepreneurship in China, we end up discussing innovation. And I am nearly always asked whether I see real innovation in China, or if the “innovation” is really just imitation. While this a very nuanced topic I plan to explore in many posts, in this post I wanted to discuss just one example of innovation flowing from imitation in China. This example blurs the lines between innovation and imitation for me, and reminds me that innovation is often just taking someone’s idea and tweaking it a bit. So while when I picture innovation I often imagine a creative genius with an epiphany, innovation is more frequently found when one idea is tweaked, or when multiple ideas are put together in novel ways. In business, this generally stems from solving problems faced by your customers in novel ways.
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