Being the one who was able to make good use of the resources from the mainland China, create value to Hong Kong customers and seize the opportunity to serve the needs of many households of small or limited size makes him a successful entrepreneur.
Question 1: What habits helped make you successful?
Answer: Hard working is my habit. Well, actually I have a habit of waking up early at 6am everyday. Since everyday I will be facing many new challenges and things to be done, I have to be of high self disciplined in order to finish as much as I can. I know that I may not be able to deal with all the issues that pop up in a day, but at least I will try my best to handle all the most important things.
Question 2: How did you distinguish yourself from your competitors?
Answer: That's a very good question Wendy! It is really a competitive market we have out there in Hong Kong. And it is really important, especially for entrepreneurs to keep on finding ways to out perform our competitors. So what I do is first go through a thorough research to understand the market demand and what kind of products do the potential customers need. For example, some days earlier the small fans were very popular in the market.
As an entrepreneur, what I do is to offer an easily accessible platform for customers with different kinds of household products. On the other hand, since Hong Kong is located very close geographically with the mainland China, it is also crucial that I capitalize the resources I can get from the wholesalers in the mainland China.
And through a very useful online platform called Alibaba, we can contact with the wholesalers and producers easily and introduce new products into the market.
As a retailer of various household products, it is essential to distinguish our products through multiple ways. First, we can ensure our customer that all products selling in this company must be 100% genuine goods. Second, we keep on finding new and unique products with special features or multiple functions that suit our customer's wants and needs. We do not copy what our competitors are selling. For example, we do not sell those small fans. That's basically how we stand out from our competitors.
Question 3: What were some of the difficulties along the way to starting up your own business?
Um... at first, I faced a serious financial problem in setting up my own business. So I just borrowed money from some of my friends and family members. And at that time, I believed that if I worked hard enough, I can make a profit and repay the debts. And so I did. But what I found more difficult is how to maintain a business as I am facing countless ups and downs along the way. There is never a guarantee that I can make a profit this year, and I admit that there are certain risks that I need to take. But still, I think it is better to become my own boss and be an entrepreneur rather than being an employee and work for someone else. It is the level of control, flexibility and freedom that allows me to do what I want.
Well, after all I feel that sometimes it is the environmental factors that motivated me to become an entrepreneur.
Reflection on what I learned during the interview
It is really an inspiring interview with Mr. Leung. I learned that in order to become a succesful entrepreneur, there are several important things. First, keep a good habit of having a highly disciplined lifestyle. Second, knowing the market needs and reach out for all available resources are crucial. Third, bringing something unique to add value to the company is what makes a business competitive. Fourth, being brave to take risks in the first place is crucial.
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