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Meet the Women

Binbin

Beijing, China

Profession
Music Boxes
Business
Lixiangshenghuo Gift Company
Country
China
partner school
Tsinghua SEM
You have to start with a dream and make the dream come true through hard work and persistence.

Business Overview

Lixiangshenghuo Gift Company was established in 2004. We produce and distribute a variety of unique and classic music boxes to the Chinese market. Lixiangshenghuo Gift Company creates a niche gift in China's home and office decoration market.

Challenges

A challenge for me before enrolling in the 10,000 Women program was building up comprehensive sales channels. I did not know how to develop a business plan or properly market my products. My goal was to attain the business and management skills needed to gain market share. At the same time, I wanted to learn how to grow the business, add a diverse set of music boxes to my inventory and expand the business to other areas of Beijing.

Results

10,000 Women has encouraged me to revise my whole business strategy to re-direct my music box business, better position our products and explore new sales channels. In addition to in-store sales, I have added wholesale, custom design and online sales of my products.

Directly following the 10,000 Women program, I hired two employees to take charge of product sales. Partially due to the strategic decision, revenue of my business doubled from 2008 to 2009.

I started out as a distributor, but now I have the knowledge and confidence to design my own music boxes and to expand my business throughout China. In addition, my products are marketed on Taobao, where we have an online storefront.

In February of 2010, I appeared on CCTV2 (a Chinese business channel) in a business competition called Entrepreneurship Hero. I came in first place and won a large zero-interest loan to invest in my business. In August, I opened a new retail store at Nanluoguxiang — one of the oldest and most popular hutongs in Beijing — and have since hired two new salesmen to work in the store.

Future Goals

I plan to expand my chain of stores and carry on the production of my own designs. I intend to open a few more stores in Beijing and other cities in the next three to five years.

I am actively engaged in public service, serving as Secretary-General of the Beijing Branch of Youth Business China, which helps other young entrepreneurs achieve success.