These are the 5 tips that Li Ka Shing give entrepreneurs based on personal experience.
For over half a century, the world and Shing companies have had to deal with multiple crises and changes. However, their companies have never been in trouble financially. The Hong Kong businessman who since childhood has had to be used to save any penny to survive, and continued to act the same way with their companies. Do not spend anything that is not necessary. Borrowing only if absolutely essential and yet the back is covered with other mechanisms. To this day never hired a personal debt. Its policy is to avoid any financial risk to study the situation and preparing for the worst ever.
2. Having a vision and clear objectives
Although many claim that the success of some entrepreneurs based in part on luck, Li Ka Shing says the only thing that really works is the work and set clear objectives. In two of the key moments for the development of his fortune, the entrepreneur Asia was set such goals. When he started with real estate, announced publicly that his goal was to advance the leading sector, which has been operating in Hong Kong more than a century. He got in a few years. Later, Hutchinson bought because it considered that it could take a much greater return. Had it not been this company would have been different, I knew I wanted to buy a multinational company that could make it profitable.
So I always insist on the importance of having a clear vision of your goals and objectives set.
3. Knowledge is the most valuable asset
Li Ka Shing started working very young to help his family and could not finish their studies. However, he never missed an opportunity to learn. Throughout his life has been an insatiable reader. Of particular interest in the information economy in general and their particular sector. Think that employers have to keep them updated about news, which is indispensable for success. And if you never had the chance to finish his studies, he acquired during his life a very broad knowledge based on experience of business and in reading.
4. Reputation: no never go against your principles
For Li Ka Shing, the principles are very important. Several times in his long business life he faced temptations very interesting, which would have meant big profits, but never gave up his principles. Comment comply with the principles is what allows you to have a reputation, and the latter is essential to achieve anything in business.
5. Acting at the right moments
Much of the wealth of Hong Kong businessman comes from being able to make decisions on buying and selling at the right moments. He knew when to invest in real estate assets were undervalued, and diversified its activities when analyzed that the bubble was approaching Asia. Many are the times when big business did well when choosing. And everything comes easy to think and analyze market trends. As one Chinese saying: “If you think you’ll be prepared. And if you’re prepared, you have no worries.”
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