When you talk of economic transformation in the world, the first country that should come to mind is China.

In the early 70’s China was still regarded as a third world country.

In fact up till 1979, cars were an extremely rare sight on Chinese road as only high ranking civil servants were permitted to have cars and privately owned vehicles and no single millionaire, let alone billionaire.

That was basically due to communism been practised in the country then which frowned at private ownership of business and properties.

But just ten years after the system was transformed into capitalism under the disguise of socialist market economy, their economy blossomed and in 2023, they could boost of over two hundred and seventy million cars and over 450 billionaires according to Forbes report, making it the second largest country in terms of billionaire population after the United States.

That’s amazing you can agree with me.

Now, let us see some of the Chinese proverbs that made the economic transformation possible.

I know that somebody may be saying why proverbs or how proverbs could help to transform national economy.

The truth Is most of the countries that have developed in the world, the secret to their success is embedded in words of wisdom and proverbs.

For instance, at the front of most of the factories in Japan, there is always an inscription, “I will do better than I did yesterday.”

That is the philosophy that transformed Japan from ruins to prosperity.

Recall that at the end of the second world war in 1945,Tokyo,the capital city in particular and Japan in general was desolate and in ruins.

But within three decades, the country transformed to a super power and one of the fifth largest economies in the world.

That is the power of words.

Below are six Chinese Proverbs every entrepreneur should know and apply to his business and life.

These words of wisdom would help you grow your business and also aid you in tough times.

As an entrepreneur who is always seeking to grow and evolve professionally, I try to collect insightful quotes that would be helping me in managing my business and over the years, I have collected hundreds of passages.

One type always seems to stand out to me – Chinese proverbs. I find myself fascinated with their ability to eloquently and clearly communicate complex ideas such as entrepreneurship.

In order to learn from these ancient words, it is important to derive personal significance from them so that you can apply their meaning to your life accordingly.

(1) “A bad workman blames his tools.”

Everyone makes mistakes, but the way you handle those mistakes is what determines whether you will be a successful entrepreneur. Instead of making excuses or blaming someone else when you fail, take ownership of it and learn from the experience.

(2) “If you want one year of prosperity, grow grain. If you want 10 years of prosperity, grow trees. If you want 100 years of prosperity, grow people.”

When building a business, many entrepreneurs focus too much on the money. While it is important to be cash-conscious, do not let it cloud your judgment. Sustainable businesses are built by investing time and energy into creating a community – both internally, with your employees, and externally, with your customers.

(3) “A single conversation with a wise man is better than 10 years of study.”

One of the most important things an entrepreneur can do is reach out to and learn from those who are more experienced than he or she is. These people are often referred to as “mentors.” A mentor can help you overcome certain business-related challenges, home in on your marketing strategy, and better understand your target demographic.

(4) “Cheap things are not good; good things are not cheap.”

New business owners tend to be very apprehensive about spending money on their business. Thus they skimp and go for what’s cheap rather than what’s good. This can lead to a lot of headaches when those cheap things break. Do yourself a favor and look at business expenses as investments. Try to make investments in high-quality things that will help grow your business.

(5) “Teachers open the door. You enter by yourself.”

You can have the highest level of degree from the most prestigious university, but if you aren’t practically applying that knowledge to help your business grow, does it even matter? For as much time you spend learning, it’s equally important to exercise that knowledge.

(6) “The emperor is rich, but he cannot buy one extra year.”

The biggest excuse I hear when people tell me they can’t start their own business is that they “just don’t have the money.” Guess what? Neither did Bill Gates, Larry Page and Sergey Brin, or Mark Cuban. They all started from average, middle-class backgrounds. What they used to their advantage to build their billion-dollar companies was time, a resource that we all have.

•Peter Anosike has a doctorate degree in Consulting and profit management. He is the founder of Ultimate Entrepreneurs academy, an organization that trains people on how to become successful entrepreneurs.

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