Manufacture Product Or Import From China? – With One Child Or Two?

June 11th, 2010

If only China knew decades ago of its future explosion in the global marketplace, it surely would hot have implemented a one-child policy as they have done over the past decades. Now Beijing is faced with a huge demographic challenge.
With the explosion of trade with China, business is booming and needless to say, every other product today is manufactured or “Made in China”. But China is faced with a shrinking workforce in the urban areas. Their long-standing one-child policy is now making life difficult for China but it is not too late to reconsider the policy for future growth.
China’s one child-policy has worked very well in the past. If we consider that China has a population just under half a billion, it is pretty impressive that this policy has kept the Chinese people out of full poverty. We have to give the policy its credit. It did serve its purpose.
Since China has become a key player in the product manufacturing and import/export world, it is an economic reality we have to be aware of. If the one-child/family-planning policy is reviewed soon enough, it could help China with this demographic challenge, while it is still a leading force in global product manufacturing. The concern of its demographic challenge does not only touch the manufacturing industry, but it is a reality all over the economy. If the economy keeps growing so rapidly, a shrinking workforce is surely not your friend.
The one-child policy was introduced in 1979 and it became a local government legislations. In urban areas the one-child policy was strictly enforced, but in rural areas if the first born was a girl for example sometimes a family could have anther child. This was mainly because social services were not provided in rural areas.
China finds itself now with an above average age in its workforce and the majority of its workforce is made up of the elderly. In regions like Guangzhou labor costs have been increasing while maintaining a shortage in labor. Labor cost specifically in manufacturing has been slowing increasing and have been a concern for investors. If nothing is done to China’s family planning policy, this trend if increasing labor cost will continue and investors will look else ware for their manufacturing needs.
All of this said, we still are very excited about the Chinese economy and manufacturing industry. China has become a leader in global manufacturing and if they do the right things soon enough will continue to lead in these realms.

Marketing An Internet Business

May 25th, 2010

The increasing popularity of the internet has paved a whole new way of marketing a business. This is specially so if your business perform transactions online most of the time. The primary target of your marketing efforts when reaching for customers is internet marketing as internet marketing is the platform to attracting customers in your demographic – online users.
Online or internet marketing comprises of two distinct styles – website marketing and business marketing.
The aim of website marketing is to get people searching for your service or product locate your website while conducting an online search through the major search engines like Google or Yahoo. There is a strong possibility that your business will experience a massive surge of new visitors to your website if you are able to recognize the many facets involved in website marketing and get them clicking together.
With business marketing, you will be actively promoting your business’ availability directly aimed at the internet users more so than the search engines. Some of the internet marketing strategies used today are purchasing internet advertisements, buying leads, sending out emails and other promotional marketing materials that are designed to bring visitors to your online website.
One of the things to remember with internet marketing is this – consider your homepage as a billboard along the side of the road. If there is little traffic along the road, there will be few people who will see your billboard. Hence, you should focus your efforts on driving people to the right road.
Let’s look at it from another perspective. Say you are selling a certain brand of digital camera and there are also hundreds of people selling the exact same brand of digital camera as you. They all have a website (many provided free when they signed up) which looks alike and having the same enhancements. When an interested buyer searches for the brand by name, there is no telling whose website is going to pop up in the search results. If you are the owner of one of these hundreds of sites, you will need to do specific marketing to channel the potential traffic to your own website. For this purpose, you can use pay-per-click advertising. Pay-per-click advertising is basically advertising that you pay for; based on the number of visitors who click through to your site from the search engine.
Another popular method of driving visitors to your website is affiliate marketing. In affiliate marketing, you as the business owner, pay a specified amount or percentage of a sale to another person (the affiliate) who drives visitors to your site. Essentially, you are gaining free advertising and only pay for it if a sale is made at your site.
Link exchange programs are also popular and have a successful track record in the past. However, having thousands of unrelated links to your site may turn search engines against you, resulting in the loss of your business information from their engines and eventually, from their results pages.
Whichever internet marketing strategy you decide to undertake to promote your online business, always remember – do your homework first before plunging in.

Manage Your Fears: Seven Steps To Freedom

May 25th, 2010

Cold calls. Marketing materials. Writing a business plan. These are a few items that may be part of your new life as an entrepreneur, and they may be among the things that make you quake with fear. You are not alone. If you are going for a new job, or lifestyle, chances are fear is a steady companion. That’s a good thing – fear indicates that you are trying something new and important to you. Fear will be part of the journey. It’s how you manage it that determines your success, and how much you enjoy the ride. How do you get a grip on fear so you can make progress?
A wise teacher taught me that we do not get rid of fear before we do something, but that we go into the situation with the fear. I had confessed to her that I wanted to act, to be on-stage, but that I was afraid. She said “Take the fear with you.” The next thing I knew, I had auditioned for a play and landed the lead. I had never felt such happiness, and fear, which went with me to every rehearsal and performance. I survived, and learned in the process that I was capable of enormous strides when I did not let fear stop me from trying.
Remembering this has helped me innumerable times. It is something I point out to my clients again and again. Try these seven steps to manage your fears:
1) Acknowledge that you are afraid. Most of us are, even if we do not admit it. The challenge of juicy living is to acknowledge the fear and keep going anyway.
2) Identify the fear(s). Get clear about what it is that really sends you into hiding. Keep digging until you recognize the foundation fear.
3) Recall a time when you had fear and went forward anyway. What worked for you to move despite the fear?
4) Choose meaningful action. Fear loathes a moving target. Keep taking baby steps toward your goals.
5) Get support. Who do you have in your life that can help you recognize your strengths and move beyond your weaknesses? Support is key to success. Be willing to ask for help.
6) Know that you are not your fears or limiting beliefs about yourself. Remind yourself that fear is a state of mind, not your identity.
7) Have fun with it. Even the most serious of endeavors is helped by lightheartedness.
What fears are running your life? What would you be doing if fear were not in charge? Brainstorm a list of five things you would do if you were able to manage your fear.
Every day I find myself in situations where I recognize that I have a fear. I know that I thrive on challenge, and that fear is naturally a part of this process. When I use one or more of these steps, I am able to move forward. The relief and reward after I have done something that is scary far outweighs the fear. This is true for my clients as well. Overcoming the fears is the part of the journey that defines our character. So don’t avoid your fear – approach it head on!

Managing Email: Overflowing Inboxes

May 25th, 2010

While keeping up with the daily paper flow in one’s In-Box is a challenge for most businesses, the same situation is repeating itself in email In-Boxes. It is not unusual, during our time management training seminars and consultations, to hear that hundreds, and sometimes thousands, of email messages have collected in someone’s inbox.

Each time you fail to make an immediate decision on what to do with a note, it becomes clutter, just as the stacks of paper that accumulate in our offices do.  This clutter is not only physical clutter but mental clutter, distracting us from the immediate tasks at hand.

Consider two ways that these missives accumulate.  Start by imagining you left a totally empty Inbox and that you receive 50 emails a day.

Scenario One:
Fifty emails were waiting for you today, a conservative number, and you cleared out 25 of them, leaving the other 25 to handle at a different time.  Tomorrow there are 50 new ones.  If you again handle 25 and clear them out, leaving the remainder for another time, you start with 100 on the 3rd day.  In a week, when you open your inbox, instead of the 50 that you began with that week, you now are looking at 225 things to make decisions about.  Stress starts to build..

Scenario Two:
You receive 50 emails today and deal with 25 of them but do not delete them because you never know when you might want to reference that information again.  Therefore tomorrow you have 100 emails in your Inbox as you start the day.  You have to scan through all of them because some of the ones from yesterday may now require additional action, but you’re not sure which ones.  The next Monday you’re facing 350 emails and dread the thought of having to work through them..

That’s just one week.  Every day you have to scroll through the entire list and try to figure out if there’s something that needs to be done.  Why not make a decision immediately on each email, moving it to the appropriate place for further action?  It will eliminate that feeling of being overwhelmed as well as that sinking sensation of missing a deadline.

Just as I train people during seminars and one-on-one sessions to use a RAFT to navigate through the stacks of paper and keep from getting swamped, so will the RAFT method allow you to experience smooth sailing through your volumes of email.

My RAFT consists of four planks:  READ — ACT – FILE – TOSS.  Every item, whether paper or electronic, goes into one of these categories.  A decision is made immediately.  You know where every paper goes, how to find it again, and when to follow up.

READ
Reading materials can be divided into two groups:

1. Casual reading:  It would be good to have a chance to read it, but there’s no deadline, and it doesn’t relate to a current project.  Have a casual reading folder set up that you can move this to and then periodically block a time in your schedule specifically for casual reading.

2. Reading with an accompanying action:  Move it to your task list. If you’re using an electronic task list, drag it over and attach a date to it.  If you’re using a paper-based tickler system, print the mail and drop it into the appropriate date.

ACT
This email requires further action on your part. Drag it to the calendar or task list on your email program and assign a date, or print it and put it into the specific date in your paper tickler system.  To determine the date, always be asking yourself, “What is my NEXT step? When will I have a chance of getting to do this?”

FILE
If there is no action you need to take, you might want to keep it temporarily or else place it into your long-term filing cabinet.
1. Project Files:  If it’s an ongoing activity and you want to track the progress, have a temporary folder on your desktop.  You can delete the folder at the end of the project.

2. Reference Files:  You want to retain the note for future reference, so you might print that and put it into your paper filing system, or save it in a related folder within ‘My Documents’.

TOSS
Be liberal with the Delete key.  So many people are afraid to toss out any mail, even if there’s nothing else they need to do with it.  Just as in paper, the question to ask yourself is, “What is the WORST possible thing that could happen if I didn’t have this email?”  If it’s not too bad, and if there are no legal or financial reasons for keeping it, then toss it.

Everyone has heard of the adage, “Handle a piece of paper one time only.”  That shouldn’t be taken at face value.  Instead you handle it only once as far as making a decision right away.  Then you put it in the appropriate place to deal with at a specific time.  Work your email the same way and cut down on daily stress.