Business Thought

2023 Recap

I’m sharing this post to sum up my experiences in 2023. For our business, this year marked a decline compared to 2022 in terms of sales and profit. However, we’ve started working with several companies in the early stages of their projects. These projects are more technically solution-oriented instead of pure price competition. As a magnet company, instead of relying on traditional methods like sending “junk emails,” we’ve successfully attracted potential clients by creating valuable…

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Business Thought

The Hidden Cost of Low Price

Magnets as Commodities and Price Competition In today’s market, magnets are often treated as commodities, and Chinese magnet companies are engaged in intense price competition. This may work well for purchasing managers whose responsibility is to reduce costs for regular orders, provided that robust quality control practices are in place. Beyond Price in Early Project Stages When purchasing magnets for a new project in the prototyping or sampling stage, price is merely the tip of…

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Business Thought Work

Self-reflection after Two Weeks in the United States

Over the past two weeks, I have met with 6 client companies in various cities across the United States. In the coming four weeks, I am scheduled to meet with another 6. Interestingly, business is often the least discussed topic in our meetings. Instead, my goal is always to “seek attention” by physically being closer to current and potential clients. I am willing to fly for two hours just to have a 30-minute meeting with…

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Business Thought

做国际业务

刚开始做外贸时,认为开发客户就是写邮件打电话。但是效果不好。 后来听说了网站SEO,经过一番摸索也有了不定期的客户主动询价,我便认为客户开发就是做好SEO营销。 慢慢地,我发现一个问题:客户询价多,我的资源和业务沟通能力也很出色,但就是得不到机会。 我的业务和产品专业能力的确很强。然而,光有业务线索不够。我要做物理空间上距离客户最近的那个供应商。这次美国之行的目的就是为了在将来不断实现这个物理空间上的条件。

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Business MagneTalk Thought Work

Beyond Magnet: My 2024-2030 Blueprint

I consciously decided to share my six-year business plan with the market, rooted in my extensive experience in the permanent magnet industry. From this strong foundation, my objective is to deliver exceptional project support and manufacturing services to businesses across the USA. Background The Saturated Market of Neodymium Magnets My journey began as a sales manager, marketing and selling neodymium magnets produced in China to various countries. However, the neodymium magnet sector has been saturated…

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