As a contract manufacturer headquartered in Columbus with production facilities across East Asia, I am no stranger to uncertainty in business. At the moment we face new and ever-changing economic tariffs and the unknown short- and long-term effects of the Coronavirus, but in previous years there were financial downturns, supply challenges, cultural differences and more.
Anyone who runs a business has to make decisions in the face of uncertainty, which can be stressful when there are significant revenues on the line.
Over our 20 years in business, I have used several strategies to help navigate the way forward. Success is always a balancing act between market conditions, effort, investment and stamina, but there are proven ways to help guide your path, even if you don’t have a crystal ball.
Take care of yourself
As leaders and business owners, we are only as capable as our physical selves allow. I keep myself at peak performance through a balance of mind (prayers/meditation), body (exercise), and soul (teamwork). That helps me stay focused on the big picture and not get caught up in the daily short-term hiccups.
Golf, travel, trying new foods and spending time with loved ones are also important habits that allow me to keep my focus on helping colleagues, clients, vendors and our community.
Connect to other leaders
For me, joining groups like the Young Presidents’ Organization and Entrepreneurs’ Organization with their MIT business ownership training has been invaluable. Those groups and their industry-specific education programs have allowed me to learn from great influencers and have brought innovation, discipline and continual improvement to my company and customers.
Remember what matters most
Building bridges between American and Chinese companies can be a delicate journey at times but staying flexible and adaptable have been key in allowing us to navigate difficult times. All customers appreciate clarity and high levels of customer service, so it’s important to listen to customers and adjust to their needs, even when facing situations beyond our control.
Have a long-term view
In Chinese culture the number eight represents prosperity and nine means longevity. I named the firm 889 because, from the beginning, I always envisioned a business built on steady customer service that grew over time.
In looking back over two decades, I can see that when we focus on delivering exceptional value to our customers and reducing their risk, strong relationships are forged that can weather global or economic shifts.
Judy Huang is the CEO and founder of 889 Global Solutions, a U.S.-based contract manufacturer with offices in Shanghai, Beijing, Ningbo and Guangzhou, China. Established in 2000, the company specializes in the creation of custom metal and plastic components and assemblies for the health care, oil & gas and general industrial industries.
