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I wish Salam to everyone,
It seems most of us have heard the hadith narrated by Nu'aym Ibn Abd Al-Rahman, the saying by Rasulullah, "Nine-tenths of sustenance (rizq) is derived from trading." Some scholars said this is a weak hadith. Whether weak or not, we might as well know that almost all rich people were making money from doing businesses. Standing on these grounds has sparked our interest, with us landed up in Guangzhou.
WHOLESALE MARKET
If you make google search "world's largest wholesale market", it would come out - Yiwu wholesale market.
The fact no. 1 about Yiwu, this city is a newly established industrial area. The fact no. 2 is that, you will find that small entrepreneurs were not keen to come to Yiwu because this city is an industrial area where most of the products are manufactured. Hence, the agents for the manufacturing company were not interested to entertain small orders.
On the other hand, Guangzhou has been an important naval port, long before the arrival of the Moroccan traveler Ibn Battuta to this city in year 1344 during his journey around the world.
Guangzhou made its name known to the world by its wholesale market and the international trade expo "Canton Fair". Guangzhou market entertains any size of order, but cheaper by the dozen. They cater for B2B - business to business i.e. products change hands from wholesalers to resellers.
For those who are still skeptical about acquiring products from China, you don't just make large order, say one item for 1000 units or larger. You might just want to buy small quantity for trial and take MOQ - minimum order quantity as little as you could. Start small see how the consumers respond to the products. God's willing, should the products get encouraging response, perhaps you might want to work your way up.
The truth is in the pudding they say; in this context it means we have to go to Guangzhou to know what's the inside of it. Witness our self and should not take anybody's word for it, go through it all and find out. Something has to be experienced for proving how true the situation was.
THE BIG QUESTION
Before we get there, we ponder many questions. What sort of products that would make it into our inventory? Which products are in demand? How will we keep that aggressive pricing low since we are quite well aware of the price sensitive market in Malaysia.
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One has to understand the consumers mindset. How exactly would you be relevant to the consumers. Are you going to be relevant to a certain audience, and if yes, how exactly you are going to be relevant to that audience.
People sell everything nowadays. However, being a re-seller I need to look into customers' pain point. The prospects realize they have problem and they are convinced that your product or service will help them solve it. Common sense will tell you that products that solve have the tendency to become the top seller.
This isn't easy, but we need to be persistent in searching for the answers.
We expect a great opportunity to learn what Guangzhou wholesale market has to offer. A lot of challenges to deal with in order to meet consumers demand.
PRODUCTS SURVEY
This would be an opportunity for us to explore the business potentials in Guangzhou. Obviously there, we are open to many interesting ideas and opportunities, for us as well as all Malaysians to do businesses in Malaysia.
Our main intentions are of course to see the wholesale market and products in China, make the selection, proceed with the purchase and then make an attempt to send these products to Malaysia using courier service.
There is a saying by the great master of military strategy, Sun Tzu (The Art of War by Sun Tzu), 是故胜兵先胜而后求战，败兵先战而后求胜。 Pemenang bertempur setelah buat segala persediaan untuk memastikan kemenangannya. Anda dianggap sudah tewas jika terburu-buru melangkah masuk pertempuran dan kemudiannya mula merangka cara untuk menang - Strategi Kemenangan Sun Tzu.
Victorious Strategist only seeks battle after ascertain of winning, whereas he who rushes into fights and then start to look for a way to win, is considered as already been defeated - Sun Tzu's Art of War.
Therefore, we need to plan ahead what we want to buy, study what products are the hot seller in our local market. This would prevent us from making an impulse purchase.
The first trip will much be of a challenge if we had no idea what sort of products to look for. However, it would be best if we look for products that have value and could be accepted by Malaysians - emphasize on Demographic Targetting to make your sale ie. audience location, audience gender, audience age ... etc.
Keep in mind when we arrive in Guangzhou, we can expect that we will never be short of making choices. The decision to make the purchase need to be done quickly because everything will happen so fast.
Whatever is perceived as cheap products and has a high profit margin, would be the products with potential, that we can sell.
Open your eyes as broadly as possible and seek products with high Unique Selling Point (USP). For example, beautiful jewellery boxes for wedding gifts, wall clocks, all sorts of clocks and watches, clothes, neckties & bow-ties, plastic containers to put goodies for give away during ceremony gatherings, shirts & umbrellas with your own bespoke logo for door gifts, bridal souvenirs, corporate souvenirs etc.
The big picture is to source goods from Guangzhou, then selling them to consumers back in Malaysia so that we can gain profit. It would be a trial by fire for us, testing our abilities undergoing an ordeal of pursuing the ever continuous search. The goods worth a fortune and a livelihood for us and hope the coming days after we return from Guangzhou, there would be an improvement to our sales. We don't want to come this far to fail.
The adventure begins here. We anticipate to move all the way along path of the road paved with yellow bricks that will lead us to success in business.
After spending many days in China, it is high chance that we will bring along some goods when return to Malaysia. Otherwise, the time and money spent for the travel will be such a great waste.
Life sometimes is not about winning or losing, it's about taking part. Follow us on our journey in Guangzhou. Please click guangzhou
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