Mitch de Leon, a Filipino entrepreneur now based in Sweden, has written a good LinkedIn post listing five observations about the Overseas Chinese-Asian entrepreneurial playbook that entrepreneurs from any geography can benefit from. His five observations (which he goes into more detail about) can be summarized as the following:
- Bootstrapping. Humble beginnings and lack of capital is not a deterrent to their success.
- Risk-Taking. Asian Entrepreneurs are willing to plunge into a business even if the long-view is not clear.
- Accumulation of Capital for more business activity is a constant (preference for low profit margin aiming for high sales volume).
- Non-Monetary Assets like information are shared More Freely. Chinese Entrepreneurs have a knack for coalescing temporarily to get a deal and break up after deal is done. Small deals pave the way for larger, longer-term strategic deals.
- Confucian values of hard work, filial piety, discipline, delayed gratification. They are masters of home economics and they apply this to commercial and business endeavors.