EIA 020 The Risk that Fails You
William Leong worked in Hong Kong for nine years before moving to China in 2001. He is one of the two founding partners of Willsonn Partners Limited, which has been involved in providing accounting services in China since 2003, and has offices in Shanghai, Beijing, Shenzhen, Guangzhou, Malaysia and Singapore. He has a total of twenty years experience that places him in a privileged position to know what the difference is between success and failure in these markets.
In this conversation he gives his own insights on how to achieve success in China. He reveals why his own failures occurred and how he met his current partner in 2003 to form Willsonn Partners Limited, which still has the original first three employees among its now eighty staff.
William stresses the importance of considering the risks that can lead to failure and also discusses the practice he follows for the continued success of Willsonn Partners Limited for both the short and long term.
Throughout he gives practical advice on how to seriously approach doing business in China and touches on many other important ideas.
Also discussed in this episode:
Important insights in how inexperience can lead to failure.
What questions to ask when going into a partnership whether foreign and Chinese.
Who will stay with you in times of trouble your business partner or spouse.
Some of the factors that lead to business failures
His assessment and knowledge of his own partner and how it fits in with his own roll.
Using entrepreneur events to learn about and find partners.
The difficulties of a business breakup.
The influence of Li Ka Shing on his thinking and how he uses it to drive the success of Willsonn Partners to take account of the risks involved in a start-up business.
The surprise admission that many entrepreneurs have about keeping financial secrets from their accountants and how this leads to failure.
When he gives advice and when he remains silent on how the business is run.
The relationship between, previous success and future success or failure.
The relationship of speaking the local language with success or failure.
We hope that you enjoy this episode and would like to invite you to leave your comments and suggestions.