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Growing a good business in the Back Yard
By Wu Yiyao (China Daily)
Updated: 2010-04-05 10:48
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METRO: How is business so far?
Shen: When I started the bar, I aimed at providing people with fun, rather than making a fortune. Now I realize that an optimized business model will make Back Yard Youth survive and further develop, therefore more people will have memorable experiences here.
Now the financial situation is gradually getting better and we have some frequent guests and stable revenue. The yard of four game rooms is usually fully booked, especially at the weekends and during holidays.
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Shen: We are going to develop more services. We are now an agent for handcrafts and sell board game sets. These new services are welcomed because they extend the imagination and fun of playing with loved ones outside the yard. We are also seeking venture capital and hopeful will open another bar in Beijing in a year or two.
METRO: What did you learn from your business?
Shen: The importance of learning. No matter what business we are going to do, we need to have insights into it before we go for it. Take board games for example, a good gamer is not necessarily a good board game bar owner. An owner needs to understand a gamer's perspective, trying everything he or she can do to cater to gamers' needs. When and how to explain the rules of the games to new gamers? What games shall I introduce to guests based on guest numbers and their interests? It requires much more than just playing.
I also see the importance of teamwork. My friends and partners saw me through difficulties. Without them I could not have made it.
METRO: What advice will you give to other young people who want to start their own business?
Shen: Be prepared and get ready before you start. You have to realize that once you rent a place, bills come. Learn the things you are going to use before you start paying those bills, otherwise time and money will be wasted.
