Howdy people from the 852,
The Chinese have taken the saying "Where there is a need, there is a business idea" to a whole new level.
In this edition of Better Read Paul:
Introduction: Where does your business stand on the “hustle scale?
The Traveller Guide: I took a boat from Sheung Wan to visit the coastline of Shenzhen.
My Entrepreneur Portrait: Cedrine may be small in size, but she handles her fast-growing online pastry shop like a true boss.
PS: In January, I started a new side-gig: creating websites. I noticed a market opportunity: Since web agencies are slow and expensive, I can offer a way better service for a more affordable price.
Here's my business plan. What do you think? I’m now working on my second website order.
Whenever someone tells me about a business idea, I can't help but wonder where this business lands on the "hustle scale". (Yes, I completely invented that term).
The hustle scale is all about the challenges you are willing to face in order to start your company.
Dont get me wrong, every business idea involves hustle, but you better minimise the amount of troubles from the start.
Look imagine you start a gig in Hong Kong. There are some businesses you might want to skip because they are ranking crazy high on the hustle scale:
Opening a restaurant: Sky-high rents or greedy landlords could shut you down within a couple of months. Plus, there's a shortage of F&B staff, and fewer tourists are willing to splurge on food (I guess that’s why local restaurants have an extra 10% service charge…).
Launching a fitness studio: Having customers doesn't mean profitability, because of expensive rent and fitness gears. You'd need to find a way to get people to pay for pricey personal coaching lessons (By the way, there's this guy on Reddit who got scammed at Physical Fitness).
Running a trading company selling low-value goods: Let's be real, being a trading company in Hong Kong is way harder than 20 years ago, especially when you're selling cheap stuff like toys or BBQs. You'd face fierce competition from Vietnam or Turkey, expensive rents, geopolitical headwinds and I haven’t mentioned dealing with Chinese factories.
And the list goes on...
So next time a business idea pops up into your mind, consider my hustle scale. This can save you from a lot of new grey hairs..
And the hustle scale also applies to any online business ideas: coaching, content creation services or SEO writing are also ranking high.
Those gigs are tough sell because it’s hard for prospects to understand the values you provide.
So where does your business stand on the hustle scale?
Thank you for reading me,
Paul
A junior employee was complaining on Reddit about the 44-hour work week in Singapore, sparking a fresh discussion about the Lion city’s work culture. Seems many are facing the same situation here in Hong Kong (The average weekly work hours were 42 hours in 2018).
THE TRAVELLER GUIDE
Visiting Shenzhen for a day has become my favourite hobby ever since the Chinese government introduced this new visa-free policy for 5 European countries last year. (They just extended it to include even more countries last week).
But last Saturday, instead of my usual MTR trip to Lo Wu or Lok Ma Chau checkpoints, I decided to switch things up and took a boat from Sheung Wan.
Getting on that boat was easy. I just headed over to the boat terminal where they also have trips to Macau, and grabbed a ferry ticket for 105 HKD only.
The ride itself was a quick one, just about an hour, and before I knew it, I found myself in She Kou — a charming coastal spot in Shenzhen.
She Kou has so much to offer—restaurants with stunning coastal views, great street food, bustling malls, and a whole range of attractions (including an old french boat transformed into a restaurant) and a great coastal promenade.
Usually food prices around Shenzhen are 30% cheaper than Hong Kong and you don’t have the infamous 10% service charges.
Just a heads up though, if you plan on heading to She Kou from Futian or Lo Wu, the two MTR checkpoints, it's a bit longer and pricier. You'll need to hop in a taxi and brace yourself for an hour-long ride.
After visiting She Kou you can grab a cab to visit Hongkongers’ favorite local mall: Coco Park, 15 minutes away from Lok Ma Chau checkpoint.
I wrapped up my visit by enjoying an outdoor BBQ that cost me less than 100HKD at Coco Park.
SEEN IN HK
This is the Kwun Tong Line back in the early 1980s (also known as the green line.)
At that time, Mong Kok and Yau Ma Tei stations still had old UK colonial names: Respectively Argyle and Waterloo stations.
It's worth noting that Prince Edward station did not open until the inauguration of the Tsuen Wan Line in 1982.
The Entrepreneur of the Week
Cedrine Domerge was planning to become a doctor, but fate ultimately led her to Hong Kong where she created an online pastry business in 2020.
Here is her story:
“I landed in Hong Kong in 2018 with a partner, like many of my fellow girl friends. Before that, I was living in the South of France, working as an assistant for a plastic surgery surgeon.
In 2020, the first company I created in Hong Kong (We were selling nutritional complements for the US market) started facing troubles due to the first Covid-19 wave.
That's when I decided to start a pastry/catering business on the side.
My idea was to bring back childhood memories through delicious pastries like cookies, bread, and then eclairs, mille-feuille, and all these baked sweets that French children would buy at their local bakery.
Cooking and baking have always been my passions, so I opened a Shopify store, created an Instagram account, and started offering my services on local expat Facebook pages.
I chose the French name "Les Délices de Patience" because a good friend of mine always says that I have infinite patience!’
During the first few months, I was relying on Facebook's expat groups to generate orders for croissants or biscuits. However, I would only receive an order every three weeks while facing crazy challenges:
Sourcing high-quality ingredients at a reasonable price was really difficult
I had no marketing skills to create my brand’s identity
Dealing with storage and learning how to maximise space in my fridge!
Fighting imposter syndrome and learning to believe in myself (I don’t have a pastry chef degree)
And the list goes on…
However, quickly, my order book started to grow thanks to word-of-mouth and the Covid lockdown in Hong Kong.
I found myself delivering pastries to customers stuck in hotels during the local mandatory three-week quarantine for incoming people.
In 2021, I was finally able to rent and share an industrial kitchen in Wong Chuck Hang, Throughout 2022, I expanded my clientele beyond the French community and started offering catering services to local businesses.
However, in 2023, with the end of the pandemic and many expats leaving Hong Kong for places like Singapore or Dubai, my business slowed down.
Things are improving now as my reputation has been growing, and I’m trying to improve my communication and brand image, although it's still a work in progress.
My goal for 2024 is to launch a crowdfunding campaign and use the money to rent my own dedicated kitchen.
I would love to open a small shop in a quiet area to serve coffee during the day and traditional jambon-beurre, croque-monsieur and café gourmand on the evening.
After three years running my business, "Les Délices de Patience" has achieved some great milestones:
189 different products available
+800 clients served
+1700 invoices
When I first started “Les Délices de Patience”, it was nothing more than a hobby.
Little did I know that my idea will turn into a real business.
So if I could start this, I believe that anyone can!”
If you want to meet Cedrine for a coffee (If you’re lucky she might bring a pastry), you can find her on LinkedIn.
If you have not done it yet:
Read my thoughts on Linkedin (+6100 followers)
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Until next Thursday!
Paul from Hong Kong,
So great to read about such inspiring profiles like Cedrine’s. I hear her pastries are incredible as well ! Can’t wait to order some