Huaxia Business Soul - China's Top Ten Commercial Clans

Author: Wang Xianhui
Publisher:
Publish Date: 2006-08-01
Features: Reflecting on history through introspection, understanding the present by reading the past. The merchant guilds were unique products of a special historical period in China. They not only played a strong role in promoting the development of modern Chinese commerce but also had a profound impact on the development of modern Chinese industry and commerce. Learning from the spirit of ancient merchants, inheriting traditional Chinese culture, and interpreting China's economic history. To promote the entrepreneurial spirit of ancestors, learn from the business methods of ancient merchants, inherit traditional Chinese culture, and interpret China's economic history, this book selects famous wealthy merchants and financial experts from the 2,500-year history of China from the Spring and Autumn Period to the late Qing Dynasty, covering eight dynasties and ten major merchant guilds. It records their financial stories, principles of conduct, and life legends in the form of biographies. A classic chronicle that tells the history of Chinese commerce, its long and brilliant yet (troubled and glorious) development, and a grand scroll that depicts the broad, profound, and wise and courageous Chinese merchants.
The "Wisdom, Courage, Benevolence, and Strength" Qualities of Business Operators
Bai Gu summarized the qualities of business operators as "Wisdom, Courage, Benevolence, and Strength" in four characters.
Wisdom means having strategies. One must rely on knowledge and wisdom to manage business, with a vision and boldness to see the bigger picture and understand the overall situation. He advocated linking the circulation of goods with the development of production, ensuring that surplus goods in one place could be exchanged for goods in short supply in others, so that resources across the country could support each other through trade. This would not only benefit the people but also enrich the state. He said, "If a place is rich in silkworm cocoons, use grain or other locally scarce goods to trade for them. If a place has a bumper harvest of grain, use silk, hemp, or other daily necessities to trade for it. This benefits both the state and the people, achieving two goals with one stroke."
Courage means being decisive. When a business operator recognizes an opportunity, they must act promptly.
Benevolence means having a sense of righteousness. In business, he believed one should neither disdain small benefits nor resort to trickery or fraud. In modern terms, this means having business ethics and sincerely serving customers, because customers create the market, the market creates sales, and sales create profits.
Strength means being able to hold onto wealth. One should not become complacent with small success and must have a sense of vigilance, living as if in poor times even during prosperous times. Business operators must not only know how to make money but also how to preserve it, just as in warfare, one must be able to conquer the world and also govern it. There is a famous saying in China, "Wealth does not last for three generations," meaning that business operators lack the quality of "Strength." "Strength" also implies that a business must have the potential for growth and development, otherwise, it will be eliminated by competition.
When emphasizing the qualities of "Wisdom, Courage, Benevolence, and Strength" for business operators, Bai Gu also said, "I often produce strategies like Yi Yin and Lü Shang in planning, like Sun Tzu and Wu Qi in applying military tactics, and like Shang Yang in implementing laws. Therefore, if a person's wisdom is not enough to adapt to changing circumstances, their courage is not enough to make decisive decisions, their benevolence is not enough to make correct choices, and their strength is not enough to hold firm, even if they want to learn my methods, I will ultimately not teach them."