There’s a street in Dongguan called Shijing Avenue. Along this stretch—less than 1 kilometer long—there are seven or eight roast goose restaurants, but only one is bustling with customers, where diners have to wait in line. The others are either struggling or frequently changing owners.
This illustrates that to run a successful business, you must either create a one-of-a-kind product, differentiate yourself, or do things better than others. Otherwise, if you offer the same products as your competitors, why would consumers choose your place?
Don’t just follow the crowd. Don’t see others making money and jump on the bandwagon. They’ve built up years of experience, while you’re a newcomer—you’re comparing your weaknesses to theirs. This is especially true in the restaurant industry, where consumers will eventually get tired of the same offerings. How will you handle that?
Take 8566 crash-resistant steel, for example. Many people rush to copy and imitate it, but do you know what areas it excels in—or where it falls short?
Do you know how to perform heat treatment?
Do you know what level of purity is required in steelmaking, or what range impurities must be kept within?
Do you know what temperature to heat the steel to before forging, how long to hold it at that temperature, and what the rough forging and final forging temperatures are, respectively?
Do you know what equipment to use for forging, and what tonnage is required?
If you don’t know any of this, how can you ensure quality?
All you’re doing is copying some marketing copy, some advertising slogans, and some case studies, then tricking a few customers looking for a bargain. Those are just the leftovers others have discarded, yet you treat them like a gourmet feast.
*************
Wu Dejian’s tool steel, the chief of staff of the user, bought everything he had used.