Brothers. How did you make your first pot of gold??

[Hazard]

Does anyone run a business in other industries? Is it profitable?

Yes, extremely stressful at times, no guarantee of success, risky etc...but when it's going well, it's rewarding and I really enjoy it.

 

[Damir]

Manufacturing is a gamble. And it's a gamble with a lower winning rate. I knew from the beginning that it wouldn't be easy. But I still accepted the cost. I may have chosen the wrong path, but I don't regret starting my own business.

I am also involved in production so I understand you completely. I would like to give you some useful advice or suggestion but it's hard to be smart in this situation.

 

[Pioneer]

I am also involved in production so I understand you completely. I would like to give you some useful advice or suggestion but it's hard to be smart in this situation.

I understand.

 

[ustaad]

My father is in the timber business. In 2017, he gave me 200,000 yuan. I borrowed a small amount of money myself and opened a small factory, entering the CNC industry. Then came a decade of almost complete personality breakdown. There was a shortage of working capital, unpaid balances, and insufficient advance payments. Then, use the earned money to pay the workers' wages, settle the supplier's payment, pay the rent, and purchase the next batch of materials. Add new equipment.... Then continue to wait for the turnover of the balance payment.

When I was young and ignorant, I believed that the timber industry had NO "technical threshold". At least it didn't sound like a "high-end industry". Ignorant as I was, I even looked down upon this industry... Time has paid me back. Many times, I borrowed money from my father.

I admit that I am not capable enough. I am even inferior to my father.

Brothers. How did you make your first pot of gold?

Do what amazes you and money will follow itself.

 

[Pioneer]

Do what amazes you and money will follow itself.

I don't know if I still have the courage to embark on a new "venture"

 

[ustaad]

For the CNC industry I guess if you're selling to local Chinese clients then it will have very low margins, try to make a website in English and other languages and sell to international clients directly.

 

[Pioneer]

For the CNC industry I guess if you're selling to local Chinese clients then it will have very low margins, try to make a website in English and other languages and sell to international clients directly.

I'm already trying. But international warehousing and logistics are also issues. My experience is still lacking.

 

[ustaad]

I'm already trying. But international warehousing and logistics are also issues. My experience is still lacking.

I don't think you have to manage it yourself. Now a days courier companies (DHL, UPS, Fedex, China Post, SF Express etc) take care of all this hassle, even taxation purposes. You just have to quote ex-factory prices to customers.

 

[Pioneer]

I don't think you have to manage it yourself. Now a days courier companies (DHL, UPS, Fedex, China Post, SF Express etc) take care of all this hassle, even taxation purposes. You just have to quote ex-factory prices to customers.

There are also advertising expenses.