Hosulyam, the top merchant of the late Qing Dynasty, based his success philosophy on business principles that prioritize people. This teaches the lesson that beyond simply pursuing profit, valuing people and building trust are crucial. Today, we’ll share the story of Hosulyam.
1. The Importance of Market Analysis
Hosulyam emphasized thorough market analysis when investing. One day, when a merchant came to his house, Hosulyam bought the assets at market price instead of a bargain, helping the merchant even in a crisis.
Always analyze the market thoroughly before investing and avoid reckless financial decisions.
This saying well illustrates the principle Hosulyam always emphasized.
2. Upholding Integrity and Conscience in Business
Hosulyam prioritized the difficulties of the merchant over his own profit. He bought the merchant’s assets at a fair price, viewing it not as mere investment, but as saving a person. In response to his disciples’ questions, Hosulyam answered:
It was about saving a family, making friends, and doing what a merchant’s conscience would not be ashamed of.
3. Principles Against Black Money
Hosulyam warned against illegal profits and did not seize others’ benefits for his own. He emphasized making money without betraying trust and conscience. These principles can be valuable lessons in today’s business world.
4. People-Centered Success Philosophy
At the core of Hosulyam’s success philosophy was valuing people over money. He considered it important to share his profits with those around him and gain people’s trust. This philosophy is well reflected in his words:
Earn a name first, then earn money. In business, reputation is profit.
Building Trust in Crisis
Hosulyam built trust by helping people in difficult times. His belief that those who lend an umbrella on a rainy day will receive the same help later was a key element in his success as a merchant.
Hosulyam’s philosophy is still relevant today, suggesting that prioritizing people in business can lead to long-term success. Remembering the importance of valuing people and building trust is the true key to success.