Monday, June 7, 2010
Business Interview in Shang Hai Chinese Mag June 2010
I don't read Chinese much, so I made my youngest sister to read out loud for me.
For a budding entrepreneur like me, I like reading about how someone build a business from scratch, how they overcome odds and eventually make a name out for themselves or their business.
Reading about it is easy as well as imagining it, but for those who had walk through the path, it was a bittersweet memory. Here is a synopsis of the Chinese article
Yuan spoke about how he went into the soap business when he was already 42, armed with passion, and understanding of the Taiwanese market, he and his brothers threw themselves in the business. Yuan Soap was started with RM80,000 and before the year ends, they have already used more than RM200,000 much more than they expected.
Luck was on their side, maybe it more than luck as they spent their intial 6 months giving out Yuan soaps as gifts, trial and samples. It was only after then, buyers and customers started to reciprocrate with orders.
As orders pilled up, they needed more funds for their warehouse and workshop.This time they borrowed up to RM400,000k to expand their business.
Yuan said, he spotted the opportunity when he realized Taiwanese at that time, was at turmoil especially with its political instability which in directly create more demand for natural and health products however buying natural products especially skincare and toiletries were a problem,consumers were not aware of what is really " natural".
Now in Taiwan, there are more than 60 companies making natural soaps, Yuan does not feel threatened however he feels to be ahead, he needs to constantly improve his products and maintain quality and consistency.
To support his task, he has started a Yuan International Herbal Institute which he belives provide the boost and help elevate the Yuan Soap brand. The institute helps to ensure all Yuan products are safe and also to research for more new products.