All China Women’s Federation --- International Women’s Forum
Leadership Seminar 2002, Beijing, China
WTO : The Opportunities and Challenges for Women Entrepreneurs, July 3
Paula DeLisle
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Thank you again for inviting me to speak on WTO : The Opportunities or Challenges for Women Entrepreneurs. I have been asked to speak on the topic in my capacity as immediate past Chairman of the American Chamber of Commerce in Hong Kong.
The American Chamber of Commerce is a stalwart supporter of the principles of free trade, open markets and private enterprise. We believe that responsible, rules -based free trade fosters economic prosperity, stimulates economic growth, cuts the cost of living and provides the consumer greater choice of products. In my 20 years of living in Hong Kong, and working in China as well as the rest of Asia, I have seen how commerce, trade and foreign invest have gone so very far to change for the better the lives of so many people. In theses 20 years, trade opportunities have opened up tremendously, bringing with it an opening of minds and as well as greater prosperity. And these trade agreements, particularly those under the WTO, are helping the entrepreneur by creating tighter rules and standards, and ensuring the enforcement of these rules.
So what are the opportunities and challenges for Women Entrepreneurs in China? To answer this question, I researched through interview the experiences of various women who have established their businesses in China in the past three years and found being a successful entrepreneur is no easy task. It requires a great deal of determination, ambition and hard work. Here is a glimpse of three women's stories, and their lessons and key learnings, to include:
--a Chinese woman in China who established her own consultancy firm that now
employs 5 people in China and 4 in their US branch
--An Australian woman, Michelle Garnaut, who owns the restaurant, "Mon the Bund"
in Shanghai and "M on the Fringe" in Hong Kong and to contrast this, I include a story of about an Asian woman who set up her engineering business in the US.
Daisy XX---owner of a Management Consulting and Recruiting Co
Life has never been better for Daisy.
Not only does she own her own successful recruiting and management consulting firm in China, but this entrepreneur is currently building a strategic partnership with an important player in the market. And to top it all off, her husband is helping her develop her business and become his "yao qian shu", or money-making tree. "As an American Chinese, he is not threatened by me or my success, and he enjoys helping me achieve my goals," she says. "Without his confidence and moral support, I would not be where I am."
Daisy set up her own firm three years ago. Today, her husband works for her, as well as one full-time employee in Beijing and four in the company's US branch. "I developed my company because I wanted to be independent and rich ---- and I could not achieve this as an employee. I learned a great deal from working for others until one day, I felt ready to go out on my own."
Daisy says her goal has always been to have her own company. She chose to start an executive search business because she had experience working in the field and had a great understanding of the market. A contract with a previous boss did not allow her to compete in the same business for 12 months after resigning, so she left China for the US and spent the year developing her business plan.
As a Chinese woman, Daisy believes that she has an advantage because she understands the business, the people and the culture. "I enjoy being seen as a bridge between China and the US in my limited services and so far it works very well for me along this line."
Daisy offers the following advice for other entrepreneurs:
Be prepared and take advantage of ALL opportunities. Many businesses fail because owners are not prepared, and some businesses never get started because owners spend too much time preparing.
Live with the negative aspects of being on your own. Having your own business is very different from working for someone else, and unless you understand this, the frustration and pressure will kill the joys of being your own boss.
Make sure you have family support. This can make you feel like a super woman
because sometimes, a little bit of extra confidence makes a big difference.
Learn from your mistakes. These mistakes lead you and can be treasures, not regrets.
Discover what you really want and think about your mission and vision towards life.
This will give you the courage, patience and perseverance to achieve your goals and
savor the happiness that comes with the journey.
Michelle Garnaut - owner of M on the Bund (Shanghai)
To be a successful entrepreneur in China, Michelle Garnaut believes in three essential ingredients:
* Do your homework: become familiar with the city, the culture and the market
* Take chances and be brave
* Refuse to compromise on quality and ethics: be sensitive, but have your limits
And Michelle should know. Three years ago, she established her second restaurant--M on the Bund in Shanghai--which was recently named by Conde Nast Travel as one
the top 50 restaurants in the world.
In 1987, Michelle opened her first restaurant in Hong Kong. Within 6 months, shareholders were asking her to expand. She began researching the market in
China because she found it to be "unsaturated, challenging and interesting."
"After 3 years of research, I decided to open in the Bund area --- but was told that I was crazy, that no one would go there because it was unpopular and out of the way. But I opened at the right time. Now, the Bund is very popular."
When asked why she chooses to be self-employed, Michelle believes the benefits of
independence outweigh any disadvantages, such as isolation.
"In China, I can make my own decisions on how to run a business. When I was
just starting out, I went small despite pressure from shareholders to open big. I
took time testing the market despite shareholder pressures to open quickly. And I
challenged the notion that people in China don't know quality. I refused to comprise on quality as an Independent restaurant; service had to be very important."
Says Michelle: "The proudest thing for me is that we do not compromise our standards of work and always deal with people ethically."
Mutsuko Gallo---owner of a civil engineering design company
After working for several large civil engineering companies, Mutsuko Gallo felt bored with her career as a paid employee. She craved new challenges, and with a son in college, she had the time to develop a new career. So, Mutsuko set her sights on building her own business.
Experienced in the technical aspects of civil engineering, Mutsuko was not as familiar with business issues. As a result, she decided to develop a partnership with an associate who was knowledgeable in business and together, they founded a civil engineering design company in New Hampshire.
"Because my company was minority-owned, I was able to benefit from preferential policies from the U.S. government. Under these policies, up to 10 percent of design
work contracts went to minority-owned companies and since there were only a few of these companies, I received a great deal of business. After two or three years, my company started to compete with the larger ones that used to hire us. I am very happy with the fact that we started as a subcontractor and in a short period of time, grew into a competitive player in the market."
She adds, "My goal of having my own business was to do quality work and to
provide a good place for my staff, which comes from hard work. A good design company's assets are its employees, and I made sure I treated them well; as a result, I ended up with very competent employees."
After being in business for a year and half, Mutsuko bought out her partner because they had different goals and approaches toward the business. "Money was my
business partner's priority, but money is not everything to me. I just wanted to do
quality work and take care of my staff."
Looking back, she learned several valuable lessons:
- Do not rush into a partnership. You need to consider not only the skill compatibility,
but your partner's personality and views toward work and life.
- Know the market, your products and how to manage your client. This is
essential for financial success.
Success can be defined many ways. Whether it's making money; maintaining a strong quality of work and ethical standards; taking care of staff, continuously challenging oneself; taking chances or refusing to compromise, the key to success is different for all of us.
Mutsuko, Daisy and Michelle are pursuing different paths and climbing to the top in their own separate ways. But their struggles and successes are similar and can be lessons for all of us. Their journey to the top of the business world are paving the way for future female entrepreneurs.
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