Glorious Technology its markets the hard
Finding the best target markets and promotional channels was a goal achieved by Glorious Technology through trial and error.
The company began in 1994 developing and supplying advanced business software to consumers.
The expanded quickly and was restructured as a limited company in 1996, specialising in development and provision of accounting and invoicing software for small and medium-sized firms.
Last year, it joined the Business Incubation Programme of the Hong Kong Industrial Technology Centre Corp to strengthen its competitive position in the market.
Along the way, the company learned hard lessons.
"When we first started up, we did promotions at the public estates near Choi Hung because we thought the people there had the money to spend." Said director Earnest Tse.
Despite distributing more than 100,000 catalogues, Glorious received only two inquiries.
Mr Tse realized an inappropriate marketing strategy was the cause of the poor response.
"Those living [in the public estates] were mostly elderly who were less intended to buy computer products," he said.
Having learned from this painful experience, the company changed business direction to affordable invoicing and accounting software packages.
"We think there will be a market because there are so many small companies in Hong Kong that require accounting systems for effective finance management. But systems from large vendors are just too expensive to buy." Mr Tse said.
The firm's full accounting system includes all basic functions, such as general ledger control, account-receivable control, account-payable control, and customer and vendor records control.
The flexible system has many user-definable functions that enable modifications to fit diverse requirements.
Its mulit-language function allowed users to switch between and convert to simplified Chinese characters, traditional Chinese characters, and English, and many other languages. Mr Tse said.
It also was easy to use, allowing users to set up the system at the touch of a button. It costs about $3,000.
Glorious Technology clients include San Miguel Brewing International, Global One and Canon.
Despite the impact of the economic crunch. Mr Tse sees a bright future.
"When customers need to cut spending, their preference for expensive high-end systems over affordable but equally practical products will change. This would probably create an expanded customer base for us." he said
Mr Tse became interested in technology while a student, after he took a summer job in an IT firm. He set up his own company because he was bored with the nine-to-five working lifestyle.
But running a company has not been easy. The lack of expertise in Delphi language and the high turnover have been key obstacles.
"In order to maintain a stable workforce, we treat our staff as friends and keep providing training so that they always have the opportunity to learn new things." Mr Tse said.
Although doing development work to the mainland was an option, communication barriers and a lack of business sense were major concerns, he said.