Your complete guide to the starting a business in the United States . This unique bilingual edition in Chinese and English provides you with all the information you need to launch and grow a successful business. My First Pot of Gold features case studies of entrepreneurs facing many common problems. Within the chapters, you will learn how to prevent those problems and how to lay the foundation for a successful business. This book also highlights real stories of Chinese entrepreneurs who have achieved success in America . Plus, My First Pot of Gold includes a business plan template so you can get started on your business idea right away and additional resources where you can find business assistance in your local community. With all this, you will have the confidence to open a successful business!
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Editorial Reviews
Review
Teaching Business Methods to Chinese Immigrants Author finds that entrepreneurs from Asia face unique cultural issues when in America [Karina] Wong is the author of an unusual new how-to business book -- a bilingual guide geared to Chinese immigrants. Starting on one cover, an English text covers such topics as writing a business plan, bookkeeping and complying with employment laws. Flipping the book over and reading from the other side, the same topics are addressed in Chinese. Wong, 27, started her business career in investment banking. But she quickly realized her true love was community development and helping other people succeed at business...she started working at the nonprofit Chinatown Manpower Project in New York, running a program to help local residents start businesses. Wong gradually realized that her Chinese clients needed some extra coaching to understand many business practices that she and other native-born Americans took for granted. She conceived of the book as a way to bridge some of these cultural gaps. --Ilana Debare, San Francisco Chronicle, Aug. 26, 2006
My First Pot of Gold is an American business handbook for Chinese immigrants written by consultant Karina Wong. Chinese came to San Francisco Gold Rush for mining gold and in the new millennium, it means Chinese start their own business to seek wealth. Karina undergoes this big project of putting out this bilingual book as a blue plan for business adventure in the land of opportunity America. She introduces the business idea as growing a tree with sunlight (capital), fertilizer (money management), pruning (operations management), soil (planning), water (marketing), temperature (regulations). Similarly, the book is organized into six sections of 19 chapters in a systematic management approach. She starts with a business plan, sales and marketing, risk management, financing, bookkeeping and management. It is a practical guide for Chinese immigrants to know the business culture and environment of US before starting. She employs the wisdom of Confucius, The Art of War and Tao Te Ching to highlight her points. Special focus is on the importance of a business plan for careful consideration with a good discussion on the pros and cons among sole proprietorship, partnership, and corporation....Of importance is that this book includes a bilingual explanation of business terms and helpful resources in East Coast, Mid West, West Coast, government, non-profit organization and website. A book list is provided for further study. Furthermore, there is a business plan template with sample writing and a business start-up checklist for do-it-yourself. Karina makes the process simple and easy. To Chinese immigrants, America is a land of gold and opportunity. Many newcomers, however, feel helpless in this new land due to language barrier and cultural differences. This book gives help, guidance and encouragement in this free market economy. She spends a lot of pages in explaining the different and difficult topics with special attention to marketing and finance. Business --Walter Ko, Chinese American Forum, January 2007
My First Pot of Gold is an American business handbook for Chinese immigrants written by consultant Karina Wong. Chinese came to San Francisco Gold Rush for mining gold and in the new millennium, it means Chinese start their own business to seek wealth. Karina undergoes this big project of putting out this bilingual book as a blue plan for business adventure in the land of opportunity America. She introduces the business idea as growing a tree with sunlight (capital), fertilizer (money management), pruning (operations management), soil (planning), water (marketing), temperature (regulations). Similarly, the book is organized into six sections of 19 chapters in a systematic management approach. She starts with a business plan, sales and marketing, risk management, financing, bookkeeping and management. It is a practical guide for Chinese immigrants to know the business culture and environment of US before starting. She employs the wisdom of Confucius, The Art of War and Tao Te Ching to highlight her points. Special focus is on the importance of a business plan for careful consideration with a good discussion on the pros and cons among sole proprietorship, partnership, and corporation....Of importance is that this book includes a bilingual explanation of business terms and helpful resources in East Coast, Mid West, West Coast, government, non-profit organization and website. A book list is provided for further study. Furthermore, there is a business plan template with sample writing and a business start-up checklist for do-it-yourself. Karina makes the process simple and easy. To Chinese immigrants, America is a land of gold and opportunity. Many newcomers, however, feel helpless in this new land due to language barrier and cultural differences. This book gives help, guidance and encouragement in this free market economy. She spends a lot of pages in explaining the different and difficult topics with special attention to marketing and finance. Business --Walter Ko, Chinese American Forum, January 2007
About the Author
From a family business to a large corporation to a community nonprofit, Karina Wong's diverse experiences provide her with an insightful perspective on the challenges that entrepreneurs face. Ms. Wong started her career as an investment banker at JPMorgan Chase advising Fortune 500 businesses in corporate finance. Although the job was lucrative and the work challenging, she felt that something was missing. She realized that she wanted to do something for the community. After a brief stint in the private sector, Ms. Wong decided to leave the security of her job and focus on starting a career in the community development. Luckily after a few months, she found a perfect fit in the position as Director of Business Outreach Center for Chinatown Manpower Project. Not only could she use her business background, she would be able to draw upon her personal experiences. Born and raised in the Chicago area, Ms. Wong worked in her family's restaurant business and witnessed first hand the struggles that her immigrant parents faced. Now she had the opportunity to help immigrant families like her own make better lives for themselves. In her role as the Director of the Business Outreach Center, she developed and managed programs to encourage the growth of businesses in the local Chinese immigrant communities of New York City. She also taught classes and seminars that helped these immigrants understand American business practices, gain access to capital and navigate the regulatory landscape. Through teaching, she realized that there were very little resources for Chinese immigrants to help them understand the American business concepts. This prompted her to begin writing a book for Chinese immigrant entrepreneurs highlighting the common obstacles that they face in the United States. From the beginning, she approached her job at Chinatown Manpower Project with enthusiasm because she completely believed in the mission of the organization. She saw the hopes and aspirations of her f
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5.0 out of 5 stars
Go for Gold in Gold Mountain,
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This review is from: My First Pot of Gold: An American Business Handbook for Chinese Immigrants (English and Mandarin Chinese Edition) (Paperback)
My First Pot of Gold is an American business handbook for Chinese immigrants written by consultant Karina Wong. Chinese came to San Francisco Gold Rush for mining gold and in the new millennium, it means Chinese start their own business to seek wealth. Karina undergoes this big project of putting out this bilingual book as a blue plan for business adventure in the land of opportunity - America.
She introduces the business idea as growing a tree with sunlight (capital), fertilizer (money management), pruning (operations management), soil (planning), water (marketing), temperature (regulations). Similarly, the book is organized into six sections of 19 chapters in a systematic management approach. She starts with a business plan, sales and marketing, risk management, financing, bookkeeping and management. It is a practical guide for Chinese immigrants to know the business culture and environment of US before starting. She employs the wisdom of Confucius, The Art of War and Tao Te Ching to highlight her points. Special focus is on the importance of a business plan for careful consideration with a good discussion on the pros and cons among sole proprietorship, partnership, and corporation. She gives a good summary on the different channels of promotion. For finance, she lines up the available resources of commercial loan, line of credit from family and friends, partner, micro lenders, banks, grants, angel investors and venture capital. She devotes a good portion of Chapter 8 in explaining trademark, patent and intellectual property, which is not a commonly known concept. Chapter 9 talks about tax responsibilities for State and Federal governments. She includes case study throughout the chapters with analysis so that readers learn how to avoid pitfall and failure. She points out the mistakes such as under reporting sales to avoid taxes or not having enough insurance coverage. Historically, Chinese was credited to be the first to have insurance to underwrite the risk of loss in shipping. She teaches the concept of American credit system and how it works and guides immigrants step by step in establishing a good credit record for favorable financial terms. She advises caution using credit card for long-term finance, as it is expensive and dangerous. If not handled properly, it can lead to disaster. She suggests using lawyers and accountants for advice to avoid mistakes and losses. Chapter 17 covers employees and the law with clear explanation between full-time employee and independent contractor. The hiring process regarding discrimination in Equal Employment Opportunity Act (EEO), The Americans with Disabilities Act (ADA) and The Age Discrimination in Employment Act (ADEA) cannot be overlooked. Of importance is that this book includes a bilingual explanation of business terms and helpful resources in East Coast, Mid West, West Coast, government, non-profit organization and website. A book list is provided for further study. Furthermore, there is a business plan template with sample writing and a business start-up checklist for do-it-yourself. Karina makes the process simple and easy. To Chinese immigrants, America is a land of gold and opportunity. Many newcomers, however, feel helpless in this new land due to language barrier and cultural differences. This book gives help, guidance and encouragement in this free market economy. She spends a lot of pages in explaining the different and difficult topics with special attention to marketing and finance. Business plan is emphasized as the roadmap and resume of the business. This valuable tool helps business owner review, evaluate and adjust along the way. This book is a good companion guide for Chinese immigrants to get the pot of gold in Gold Mountain through business adventure. The American style of scientific management plan helps educate the potential entrepreneurs in launching the business. The bilingual edition is helpful in understanding the internal and external elements of success. However, the Chinese text and glossary are obvious done by different hands. The glossary is better and properly explained than the text. A case in point is "unsecured loan": the glossary explained clearly in proper financial terms while in the text (p.92) it does not use the same terms, possibly causing confusion. The Chinese word for word text translation makes it difficult to comprehend sometimes without checking the English original. The following examples show the difference: loan officer (Chinese text translation loan official p.107); exchange policy (Chinese common saying is return conditions p165); and liability insurance (Chinese text translation debt insurance rather than responsibility insurance p.197). The Glossary - Balloon - a stop point or early maturity of a loan may confuse readers with balloon payment If the Chinese text were written in a journalistic style, it will help a greater audience with different education levels. There are some typos and omission in the Chinese text also. Karina rolls out this handbook for Chinese immigrant entrepreneurs with excitement and enthusiasm. This self-study book condenses the materials of a business course into a handy desk reference. The Chinese in America was esteemed for hard working and self-reliant. With this valuable handbook, they will have a better chance to navigate business success in the pursuit of the first pot of gold. There will anticipate a boom of success stories of Wong's, Lau's, Kwan's, Chang's, Chiu's and Leung's all over America soon.
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