Fan li special report

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FAN LI

Special Report

Rhea G. Jardin

September 10, 2012


- Fan Li, also known as Tao Zhugong (Lord Taozhu), lived during the Spring and Autumn period from the Chu state

- An official of King Goujian of Yue state; Goujian was defeated by King Fuchai of Wu state in a battle for imperial dominance and became a slave

- With the help of Fan Li, King Goujian was able to retrieve the Yue state

- He retired as advisor of King Goujian and lived at the eastern shores of Qi where he changed his name to Chiyi Zipi and went into farming and salt trade; he then became a rich and famous businessman

- He later settled down to Tao where he called himself Tao Zhugong where he engaged in trading of food based commodities and his Chinese medicine shop, Kang Bao Medical Hall

- His principles focuses mainly on understanding the properties of nature and personalities of people and applying that to the changing economic environment

- In a few years, he became a millionaire and was well-known throughout the country. He was regarded as “God of Wealth”

Who is Fan Li?


Fan Li’s unusual view about money:

- One who understand money would be willing to abandon it if it became a burden

- It is only a means to an end and should not be taken seriously

- It must be handled and acquired according to principles

Concepts on Money


Ability to be:

1. a good judge of character- know who can be trusted and losses are avoided

2. customer-oriented- customer satisfaction both retains and attracts clients

3. single-minded- stay focus on your business line and avoid arbitrary switches

12 Golden Rules for Business Success


Ability to be:

4. captivating in your sales promotion- be organized with your presentation

5. quick to respond- be adaptable and organized enough to respond quickly

6. vigilant in credit control- do not allow non-payment

Con’t:



Ability to be:

7. selective to recruit only the best - ability to use and deploy people

8. bold in marketing your product - ability to articulate and market

9. smart in product acquisition - use your best judgment in acquiring stocks

Con’t:



Ability to be:

10. adept in analyzing marketing opportunities - know what is selling according to areas and trends

11. a corporate model - have definite rules and standards

12. farsighted in developing a total business plan- know market trends and cycles

Con’t:



1. Don’t be penny-pinching

- never confuse efficiency with inhumanity

2. Don’t be wishy-washy- be confident in pursuing opportunities

3. Don’t be ostentatious- spend wisely, do not overspend to make impressions

12 Golden Safeguards for Business Success


4. Don’t be dishonest- truth is the only basis for business

5. Don’t be slow in debts collection- liquidity is affected with poor collection

6. Don’t slash prices arbitrarily- this will trigger in price war which everyone will lose

Con’t:



7. Don’t give in to herd instinct

- make sure the opportunities are real

8. Don’t work against the business cycle- if prices fall, it will surely rise again and vice versa

9. Don’t be a stick-in-the mud- examine new things effectively

Con’t:



10. Don’t overbuy on credit

- credit is not license to spend wildly

11. Don’t under save - keep reserve funds strong- when business is slow, one with money can expand

12. Don’t blindly endorse a product- know your vendors and make sure they follow standard

operating procedure

Con’t:



Golden Rule for Business Success, http://books.google.com.ph/books/about/Golden_Rules_for_Business_Success.html?id=KDs__FNR99QC&redir_esc=y

http://history.cultural-china.com/en/47History1726.html

http://en.wikipedia.org/wiki/Fan_Li

http://en.wikipedia.org/wiki/Cai_Shen

Sources


FAN LI

Special Report

Rhea G. Jardin

September 10, 2012

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