Monthly Archives: November 2009

Inspiring Reads: One Step Ahead

In business, it always pays to be ahead of the curve. When I started my first company, Joyo.com, colleagues, friends and complete strangers thought I was either very brave or completely mad. In truth, I was neither. I knew I had the most valuable commodity an entrepreneur can have – a good idea. When Amazon acquired that business and I started DHgate, I had something else, too. I had something new.Stones with Schools

Since pioneering the DHgate cross-border trade platform, innovation has been my focus. And this dedication to forward-thinking is, I believe, one of the key reasons my company is steadily growing.

I had this in mind when I was thinking about my blog this weekend.

So, in the true entrepreneurial spirit, this month’s book recommendations are a selection of yet-to-be-released works that are due out in the coming weeks. With the ink not even dry, here are a few gems to look forward to; I’ve already placed my pre-order!

On The Brink by Hank Paulson.

The former CEO of Goldman Sachs and U.S. Secretary of the Treasury, Hank Paulson, has joined the throngs of authors vying for the attention of those who are curious to learn the nitty-gritty of what has come to be called “The Global Economic Crisis”.  What drew me to Paulson’s account is the fact that he was a) actually there and b) a decision maker. Given the pressure Paulson was under during this time, I look forward to understanding more about the how he went about making decisions, coordinating stakeholders and analyzing strategy while under the spot-light and on the stop-watch. Whether this book turns out to be lessons in what not to do or a valuable demonstration of grace under fire is yet to be seen, but either way I’m looking forward to it.

Due out February 1st, 2010.

Googled by Ken Auletta

Promising to be “a revealing, forward-looking examination of the outsize influence Google has had on the changing media Landscape” this is a book that I almost have to read – Not only because I run an online business, but because I too have an ambition to change the way things in my sector are traditionally done. While Google founders Larry Page and Sergey Brin inspire the digital revolution when they first decided that search could be done more efficiently, DHgate hopes to lead an ecommerce revolution for simplified global trade.

While Google will generate about $20 billion in advertising revenues this year and is well on its way to become the world’s first $100 billion media company, there are significant challenges ahead. Whether your business is one person and a computer or much bigger, this “unprecedented insight” into the people that fuelled Google’s rise and the challenges ahead promises much.

Due out November 10th, 2009.

Stones into Schools  by Greg Mortenson

Mortenson’s 2006 book, “Three Cups of Tea”, recounted the details of his extensive and demanding humanitarian efforts in Afghanistan and Pakistan including (amongst other incredible things) the unique ways he has built relationships with Islamic clerics, militia commanders, and tribal leaders. In this new work, he shares for the first time his broader vision to promote peace through education and literacy.

There is so much in Mortenson’s words that I find extremely valuable. While I am a businesswoman, I am also hugely aware of the situation many find themselves stuck in – people want an opportunity to grow or start their modest business to help improve the circumstances for themselves and their families, but for several reason, it is not possible.

Focusing on providing opportunities for small businesses both overseas and here in China is the founding principal of my business, and running training programs, working with NGOs and initiating micro-financing initiatives are becoming an increasingly important part of our future. This book intends to shine a light on the bigger picture, and I for one and anxious to see the view.

Due out December 1st, 2009.

Seasons Greetings

With Halloween just behind us, Thanksgiving ahead and Christmas around the corner, I’ve been thinking a lot about holiday promotions (as well as my waistline!). And it seems I’m not the only one.

EBay have recently launched a new ad campaign, which focuses on holiday products,  and a new survey conducted by BIGresearch for Shop.org found that online retailers will be revamping websites, focusing on social and offering free shipping, in some form, this holiday season and, for a third, this activity will start earlier this year than last.happy-holiday

But competition is hot, and employing new methods to reduce costs and attract customers will be critical.

Through my company, DHgate.com, I’ve noticed an increasing trend for SMEs to buy small volumes at higher frequency, allowing closer management of inventory and quick response to consumer trends – A low-risk strategy particularly valuable during holiday periods.

For etailers looking to differentiate their marketing this season, the options are extensive. I came across the Vastplanet blog recently and thought it was interesting. It includes some worthwhile pointers; you can read the whole article here or view my selection of highlights below.

What have you got planned for your upcoming promotions? I’d love to hear about tips and lessons, so please feel free to leave a comment!

Customer Service / Operations:

Holiday Shipping – plan special rates that are easy to understand and provide ETA chart with cut off dates for customers on the shopping cart. Here are important dates to know:

11/27 Black Friday

11/30 Cyber Monday

12/07 Green Monday (expect heavy traffic)

12/14 Brown Monday (last day for free shipping)

Gift Services:

Last Minute Holiday Suggestions – great idea to choose some rapidly shipped options for the time constrained consumers.

Promotion:

Coupons – consumers want them and this will be a key driver this holiday season. Consider Free Shipping, Save $X when you spend $Y and % off scenarios.

SEO:

Consider Facebook advertising, Retargeting, Ad Networks and Content Networks to maximize coverage

Form a Partnership:

Niche Online Store – create a new store to capitalize on a rising market trend and benefit during the holidays. You can go to Google Trends and get some Ideas on what’s popular.