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  1. Walter Hay

    Margins

    First let me say that the vast majority of workers in China are happy with their lot. Their pay is very low compared to what Westerners get, but with a very low cost of living that is not a problem. In addition, in many large manufacturing enterprises they get very good fringe benefits, such as...
  2. Walter Hay

    MARGINS

    MARGINS. Readers might be surprised to know that some German-made products are sold by retailers in other Western countries at prices no higher than similar Chinese made products. It is almost certain that those products cost more for consumers in Germany. WHY? Because the German consumer is...
  3. Walter Hay

    How to know if a supplier is legit?

    My attitude always was that if I had the slightest doubt, I would not deal with a supplier. After all, it's not like going into a shop and buying something that you are unlikely to buy again for a long time. Walter
  4. Walter Hay

    How do I develop and manufacture a physical product?

    INTRO 
    Before jumping in the deep end with all the sharks on Alibaba, you should learn something about the reality of that B2B site. Lesson #1 is: Don't believe everything you read on that site. (or on any B2B site for that matter., but particularly Alibaba.) To learn a whole lot more, see my AMA...
  5. Walter Hay

    Walter Hay's Business Books

    MARKETPLACE 
    Don't forget, support is just a message away. If it is confidential, message me. If it's not, and the answer might benefit others, post in in my AMA. Regards, Walter
  6. Walter Hay

    Walter Hay's Business Books

    MARKETPLACE 
    Lance has just informed me that he has now managed to send the book to you. He used your current email. It was a good idea to message me here, because he hadn't received a notification from PayPal, despite trying for weeks to get them to help him fix that. Regards, Walter
  7. Walter Hay

    The Origin Of Money and Value

    MINDSET 
    The origin of money is definitely value exchange. The old bartering system generally worked well, provided each party could provide value as perceived by the other. When engaged in large scale cattle breeding as a hobby I had an excellent barter arrangement with a neighbor with a small holding...
  8. Walter Hay

    How I got hired as a software engineer without a college degree

    GOLD! MINDSET 
    I congratulate you @GrayCode on being among the top inspirational members on the forum. What a story. I loved reading it, and am now enjoying reading your helpful and encouraging responses. Walter
  9. Walter Hay

    Quora as a marketing channel, anyone?

    HOT! MARKETING SOCIAL MEDIA 
    I answer questions on Quora, but in the same way as I do here on the Fastlane. I post because I am actually trying to help people, and not as part of any advertising campaign. It's true that my answers always show my sourcing and importing book website, and occasionally encourage people to check...
  10. Walter Hay

    Services I Overpaid For

    When attending to the many manufacturing troubleshooting calls I dealt with in my industrial chemical business I reminded myself about the story of the expert with a hammer. A big machine had failed, and with their engineers unable to fix it, the factory manager called on old Eddie, renowned as...
  11. Walter Hay

    What would fellow Fastlaners do in my situation?

    RANT 
    I am pleased to see how things have worked out so far. Try hard to find a backup supplier. Best wishes, Walter
  12. Walter Hay

    What would fellow Fastlaners do in my situation?

    RANT 
    I have seen it all, and judging by the reply from @biophase, I think he has too. What I have read so far is a classic case of traders pretending to be manufacturers. So what has happened so far? 1. The OP has made the most common mistake of all. He has believed everything he read on...
  13. Walter Hay

    FAILURE TO SEARCH CAN LEAD TO FAILURE

    EXECUTION 
    Thanks @AllenCrawley for your response to this question posted by a new member 12 days after joining the forum. I would usually simply ignore such a post, but his post proves the need for this thread. If he had made even a very small effort to find out something about me, he would surely have...
  14. Walter Hay

    Where Did They All Go?

    HOT! 
    It's not a waste of time because often someone genuinely wants information and gains benefit from the replies, but sadly I see many cases in which a newbie wants help with a problem, and because they have not bothered to learn anything about the forum and such things as Gold threads they ignore...
  15. Walter Hay

    Defining The Levels of Progression

    HOT! MINDSET 
    For me that began when I started my first business. I decided that the business would work for me. I would not work for the business. I have seen too many business operators who are slaves to their business. Give yourself whatever fancy title appeals, but not CEO or President etc. If customers...
  16. Walter Hay

    About my flea market business

    A variation on that was used by one of my newbie importers. He started off importing for his own fleamarket stall, and many others asked him where he got his products from. He told them he was importing direct. The result is that he is now a major wholesaler, supplying stallholders across the...
  17. Walter Hay

    Feeling stuck... Made 1 sale, struggling to get more (Agriculture)

    If you only copy and paste you are running a big risk, even if it only results in the website owners being so annoyed that they won't deal with you. I am not offering legal advice, but you might try rewriting the text in your own words. It is probably also worth running your text through a...
  18. Walter Hay

    Let's talk about franchising

    HOT! 
    THE DIFFERENCE BETWEEN BUYING A FRANCHISE AND SELLING FRANCHISES! I am disappointed to see how many have failed to get the point, so I want to make it perfectly clear....... To me, it is a no-brainer....... DON'T BUY A FRANCHISE ---- SELL FRANCHISES OF YOUR SUCCESSFUL...
  19. Walter Hay

    Should I buy this business?

    HOT! 
    Looks good to me. Walter
  20. Walter Hay

    Let's talk about franchising

    HOT! 
    Absolutely correct. This is why I say DON'T BUY franchises - sell them. There is no doubt that there are some franchises that are excellent money-making systems. My franchises that I sold in four countries were just that, with only one failure that was due to the franchisee's gambling...

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