How Did You Survive in the First Five Years? Secrets to Success Described by Apparel New Ventures in China

Li Zhao () and Jung Ha-Brookshire ()
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Li Zhao: University of Missouri, Department of Textile and Apparel Management, 137 Stanley Hall, Columbia, MO 65211, USA
Jung Ha-Brookshire: University of Missouri, Department of Textile and Apparel Management, 137 Stanley Hall, Columbia, MO 65211, USA

Journal of Enterprising Culture (JEC), 2014, vol. 22, issue 04, 485-503

Abstract: The study explored the secrets of success described by Chinese apparel new ventures. Barney's (1991) resource-based view of the firm helped the researchers understand secrets to success from the firm's internal perspective, and the social network theory informed key secrets from the external perspective (Ahuja, 2000). In-depth interviews with open-ended questions were employed with sixteen top apparel companies in China. Results revealed that having the first successful store is the symbol of success and that success is a never-ending goal. The key secrets to success were described as the founders' ability to find the niche market, their down-to-earth attitude, unique branding position and products, and, finally, external relationships. The study will help Chinese apparel new ventures in realizing the secrets of surviving the initial stage. Academic organizations and governments may want to utilize the study findings to develop more curricula and policies that may be more fruitful for small businesses' success in the long term.

Keywords: New ventures; success; survival (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (2)

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DOI: 10.1142/S0218495814500204

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