Wisdom from 2,500 Years Ago - Tao Zhu Gong

Tao Zhu Gong's was previously known as Fan Li.

Fan Li (范蠡) was an advisor in the state of Yue in the Spring and Autumn Period. (This is roughly present day Shanghai). He had been to the state of Wu as hostage with King Goujian of Yue. Three years later they came back and he helped Goujian to carry on a reform. At last Yue was able to defeat the state of Wu.

After the victory he resigned and renamed himself Tao Zhu Gong (Chinese: 陶朱公; pinyin: Táo Zhūgōng; literally "Lord Tao Zhu"). He became a successful businessman in his later years and was famous as a rich person. In fact, many said that his wealth could even be more than Solomon or present-day Bill Gates.

He managed a pharmacy selling traditional Chinese medicine. He also deal in many businesses including banking, trading, garments and education.

Tao wrote a book known in English as "Golden Rules of Business Success" (simplified Chinese: 经商宝典; literally "Manage Business Jade Advice"). This book remains popular today as its advice is sometimes considered timeless. It includes Twelve Business Principles and Twelve Business Pitfalls describing the art of successful business management.

The 12 Golden Rules are as follows:

1. Ability to know people's character.
2. Ability to handle people.
3. Ability to stay focused on the business.
4. Ability to be organized .
5. Ability to be adaptable.
6. Ability to control credit.
7. Ability to use and deploy people.
8. Ability to articulate and market.
9. Ability to excel in purchasing.
10.Ability to analyze market opportunities and threats.
11.Ability to lead by example.
12.Ability to have business foresight.

The Twelve Golden Safeguards are:

1. Don't be stingy.
2. Don't be wishy-washy.
3. Don't be ostentatious.
4. Don't be dishonest.
5. Don't be slow in debt collection.
6. Don't slash prices arbitrarily.
7. Don't give in to herd instinct.
8. Don't work against the business cycle.
9. Don't be a stick-in-the-mud.
10.Don't overbuy on credit.
11.Don't under-save (keep reserve funds strong).
12.Don't blindly endorse a product.

By AndyTheCoach