Sino Hero Foods Ltd

We just finished participating in HOFEX in Hong Kong  which is Asia's largest food show. Given the fact that it was held in  the shadow of the global swine flu fear, turnout was quite good and the mood didnt seem that panicky (not many masked visitors around ! )

Upon asking, quite a few exhibitors advised that they were rather dissapointed that there wasn't much business to go around and these shows cost a fair bit from USD10,000 to USD30,000 (and more) depending on how large the booth is. 

I have been a big supporter of trade show participation as an effective means to reaching 'real' business clients vs working the  informal (and formal) 'networking' tree which yields erratic results , if any at all. As the saying goes' Do business with strangers as friends and with friends as strangers'. The trade show business worldwide is certainly one that is booming given that everyone is trying to find new markets given their traditional markets are suffering or simply fallen off a cliff. Another huge factor is that most Governments are now subsidizing trade show participations to help SME's ( Small and medium enterprises)expand trade. For example, Australia has an EMDG ( Export market development grant) that pays back upto 50 % of all marketing related expenses. Even Hong Kong has a similiar grants that we have been beneficiaries of over the years and I would strongly encourage all entrepreneurs to fully take advantage of such opportunities.

China is the center of the trade show universe at this time as everyone is thinking this is where the money is. So if you are a trade show organiser in China, good on you ! In fact anything that is a 'platform' to help increase business is doing well whether networking sites like linked in or facebook , trade shows, trade assocations, business clubs (and even dating agencies) and of course alumni associations ( There is always more love at the bottom of the pyramid than at the top of the economic cycle). So if you are associated with any of the above, life should be OK and if you are looking for a job, I would look into these categories.

Now who is winning business in this economy ? The same guys who are getting the jobs. Basically, anyone who can answer clearly to his client or his employer 2 questions, A. How can you make them money or B how can you save them some money. Now that may be putting it too crudely but thats what it boils down to in this environment in which a lot of those  warm, fuzzy and lofty corporate titles are gone or non existent in SME's that are still hiring given the relentless bloodbath the large corporations are taking. Same with business. One has to offer clear cut value whether running a bar ( happy hours are getting happier and longer) or a restaurant (Set lunches with drinks and soups and appetisers included for less than the original cost of just starters) or movie theatres ( popcorn or hot dog free). Basically its a back to basics economy with no frills and no complications as customers are exhausted and' marketed out.' No wonder Wal-mart, Mc Donalds, Cafe De Coral ( Worlds largest chinese fast food chain based in HK), Sa Sa ( Discount cosmetics in HK) are all drawing in the customers. Even coffee shops like Starbucks and Pacific coffee ( Hong Kong based coffee chain ) seem to be doing well as ' Coffee becomes the new lunch' ( Remember its cheaper to meet for networking coffee that try pass that lunch bill through expense accounts)

Small is in and boring is in.  I believe, in this economy ' Dime is the new dollar'.There's just the marginal dollar left and you have to show respect to the client with the hard earned dollar. The upside in a tough economy is that suppliers, service providers, airlines, temp workers, shipping companies are all willing to do smaller deals to keep the busness moving. So in a sense it in a great time for innovation or introducing new products as smaller lots are also viable both in real costs and opportunity cost basis ( fewer opportunities means grab what you can when you can). Friends of mine who are in the teaching/ tutoring businesses are having a great year. Dont tell them about depression economics and finally if you are in Government, things look very good too. For all the criticism that was levelled against being a ' public sector' employee, our masters of the universe in the global corporations and the damage they have collectively caused makes me look at the public sector guys with a lot more respect since 'post bailouts', the 'masters of the universe' have to go back to them to beg for a ' few pennies more.' And the Governments are hiring..... so go get that job !

Posted by SAMIR_13 at 04:14 PM | Permalink | Comments (5) | TrackBacks (0)

One of the things that irritated me most  growing up was the sarcastic remarks of elders basically stating' the youth of today are not what we used to be- hard working, responsible, dynamic  Blah Blah Blah !'

Funny how time flies and one hears the same comments being echoed all over again by business associates and collegues about fresh graduates. How are the generation Y (never liked the terms Gen Y X whatever in first place) going to manage in the economic crisis.

While the facts are indeed grim in the sense that a lot of life is just about timing and unfortunately some of the students graduating this year will face the worst job market in generations, reality is in lots of ways, no one is better equipped to deal with these adverse circumstances that the youth of today with their grasp of technology, creativity and despite what the naysayers say-their can do attitude !

I have been amazed with the sharp refreshing insights I have received over the years from some of the younger people I have had the opportunity to deal with whether my 23 year old property agent who gives me the most honest guidance and exceptional after sales service or another 20 something interns we hired to help look at some new initiatives in fresh fruits imports which involved getting up at 3 AM to head for the fresh fruit markets and dealing with the 'tough fruit guys' and even  in simple tasks like using the web to expand our customer base being a small company. Nothing fancy at all but just enough to make us look like a dynamic company that is on the move.

We have been lucky to have some highest grade interns from Hong Kong University (HKU) which is Asia's premier university and I have always wondered what I missed out on by not working with the ones that we did not select in the interview. I always ask why they choose to work in a small company for a nominal stipend and their reaction always is ' opportunity and a fun, flexible and relaxed workplace where they get to take on real responsibilities vs. being consigned to photocopying for the rest of their young working life and then being lectured on 'youngsters lacking ambition and drive'.So all the talk of the new graduates being all 'softies' and not ready to take on the world is all based on a general condescending tone that a lot of ' manager types' apply all the time.

Fact is a lot of the young people today are free of any baggage and sense of entitlements which is a very solid base to build success in the world of business. Corporations are undergoing such severe turmoil and their 'business models'(or rather lack of them) seem thoroughly discredited. Corporate CEO's  too stand heavily discredited and never have their reputations been more soiled by the excess greed and blatant mismanagement that has been the norm rather than the exception over the last decade. It may be an opportunity and time when younger people may decide that the odds of going through multiple levels of interviews and getting hundreds of rejections to basically work for companies that anyway no longer reflect their ideals and maybe starting a small business may be almost even despite all the difficulties of going out on ones own.

If this ripple turns into a wave, we could have the next big surge in entrepreneural activity lead by the younger people similiar to the computer revolution that was pioneered by young visionaries like Bill Gates, Steve Jobs and Khosla/Andy and Scott at Sun Microsystems.

So whenever I hear someone whine about' no good talent' or difficulties in finding' good people' I always remember one of my favourite sayings' Beware of the young turks and the old turkeys as young turks eventually become old turkeys !' Here's a toast to the Young turks !!

Posted by SAMIR_13 at 12:29 AM | Permalink | Comments (1) | TrackBacks (0)