Buffet once said that “Be fearful when others are greedy and greedy only when others are fearful.”
Doctor Yu Shiwei said, “Our generation is too blundering, we always want to complete our children’s and grandchildren’s task in this life.”
Lin Siming knows clearly that he doesn’t want to do a three or five-year business, but to try hard to go for a star enterprise that has sustainable development. So his Yeasincere takes a special operation mode that is both bold and cautious. It looks contradictory, actually meets philosophy.
He expands talents while his rivals lay off employees; he increases marketing investment while they reduce budget. When other competitors are conscious of operating problems, Mr. Lin has already overtaken them. How did he achieve that?
Since the crisis in 2008, foreign trade business has been in great recession. How did Yeasincere have made such a big success?
Mr. Lin said, his important strategies and breakthrough ideas all follow the following four rules:
Rule One: what is most important in 21st century? – Talents.
The competition between any enterprises is talents’ competition. For miniature foreign trade enterprises, the construction of the foreign trade business team is especially important, so Mr. Lin also attaches great importance to their talents construction.
In order to develop the truly talents that only belong to Yeasincere, since 2005 the company’s first employee, Yeasincere recruited only fresh graduates, because he always thinks that fresh graduates have great plasticity and high enthusiasm. Although everyone said fresh graduates have poor stability, Mr. Lin still spent great strength raising them. They have also suffered lose of talents that new comers become old staffs and then become old people. Lin always looks for reasons from their own side, from the products of the company, the buyer market, order difficulty, salary system and other aspects to analyze why they can’t keep talents. By the continuous improvement of company products’ structure and accurate market positioning, from 2010 to 2011, Lin spent a whole year creating an upgrade salary system for foreign trade staffs, which was beneficial to their career development. In this way, everyone can share resources and success. In Lin’s mind, the blueprint of Yeasincere’s future development is to “create the first foreign trade venture creation platform inChina”.
Now, combining his upgrade system with “the 271 law”: “make an example, set up a star, reward the advanced (20%), talk to the lagging, eliminated the weak (10%), concern about the backbone (70%)”, through this, he leads a sound management of foreign trade business team.
E-business Idol the finals in Xiamen.
Rule Two: “Smiling Curve” (Marketing and Research)
Taiwan’s professor Shi Zhengrong’s “smiling curve” has enormous influence on Lin. As early as in 2007, before the global financial crisis, when is also the company’s third anniversary, Lin realized marketing and research are very important to company’s development. At that time the company has just flatted profit and loss, he put forward the so-called need to increase investment, both marketing and r&d.
Ten years ago, Lin Siming said he wanted to do electronic commerce, others called him silly, everyone didn’t dare to touch far-fetched thing. But when he was in second grade in college, he has used school’s Internet bar and the free TrustPass to purchase electric warm-water bags for theMiddle Eastguests from Zhejiang Yongkang and the amount was more than 100,000 yuan. So increasing electronic commerce’s investment naturally becomes Lin’s first choice.
In December 2006, household vacuum sealing machine products become the main products;
In December 2007, helped his partner become the first household vacuum sealer brand inSpain;
In January 2009, formed a strategic partnership withXiamenbiggest electric company;
In July 2009, Yeasincere signed strategic agreement with the second biggest sealing machine product retailer in theUnited States;
By the end of 2009, Yeasincere successfully invented its first household sealing machine;
In April 2010, developed “low-fat frying pan” as new strategic brand;
By the end of 2010 three brand-new household sealing machine products;
By the end of 2011, released two nursing baby series products;
By the end of 2012, Yeasincere will continue to release three to five innovative products.
Rule Three: “Gold Digger” (Purchasing Agent)
In April 2002, when he was still a sophomore, Mr. Lin was a translator forUgandabuyers in theCantonfair. This experience not only let him has the desire to start his own business, but also let him realize that “a good tree is a good shelter”. Although now Lin has met numerous foreign buyers, but in the past ten years, no buyer stand so high as that uncleUganda. Ten years later, he tactfully applies this method into company’s operations:
In 2009 Yeasincere becameSpain’s top ten small home appliance brandsChinadesignated purchasing agent.
In 2010 Yeasincere was favored by European environmental family enterprise and became a new small home applianceChinasourcing agent.
In 2011, Yeasincere became the designated productsChinasourcing agent of one of the top 500 private enterprises in theUnited States.
In 2012, Mr. Lin continues to look for more opportunities. And he negotiates with buyers fromGermany,France,Italy,Britain,Brazil,South Africa,Australia,Russiaand other regions, trying to be the agent of them inChina.
Rule Four: Borrowing Your Enemy’s Arrows (Project Outsourcing Resource Integration)
From the age of only 12, Lin has done a lot of small wholesale business. He sold fish, vegetables and duck eggs. Because of that, he clearly knew that there are many ways to make money. He also realized that in order to make more money, he needed to cooperate with some professional persons in the industry. So since June 2011, Yeasincere strived to integrate the small home appliance factory resources and discussed how to further develop more novel small home appliances to win the market. Yeasincere’s current product development project is outsourced to the related processing factory, sharing market profit with them. This practice is highly praised in the industry. Yeasincere has gained many unexpected investment and cooperation opportunities.
Each company’s development has its special historical background, so simple copy will be no good for certain. We believe that Lin’s four company operation rules will bring bosses engaged in foreign trade business some practical and effective inspirations.
The chamber of commerce sodality.