"Creating a startup is a process where you have to make breakthroughs in difficult and confusing situations. It requires some heroic efforts and spirit," said Fang Dapeng, chairman of Pengda Science and Technology Co, which is based in Weifang High-Tech Industrial Development Zone.
Fang established Pengda in 2012 when he was a senior student at university. He is now the boss, but at one point was also the engineer, the sales person and the order processor.
Fang uses "persistent" to describe his startup story.
He became interested in business when he was a university student and he is now involved in trading and research and development services.
In 2011, a company asked Fang to develop a controller for their electro-permanent lifting magnet. After delivering the final product, Fang decided to establish a company with three classmates.
However, the clients told Fang they were not satisfied with the exterior appearance of the final product and were reluctant to hand over the full payment.
Because of issue, Fang's two partners gave up on the idea of setting up a company with him.
Fang decided to continue research and development work on the first order alone. He upgraded the exterior appearance of the controller for electro-permanent lifting magnet and finally received recognition from clients.
"At that time, I did research and development by myself, I processed orders by myself and I visited clients by myself. I continually told myself I might be able to make it if I hold on a little more," Fang said.
In June 2013, his design received a patent certificate from the State Intellectual Property Office of China.
"I believe I can satisfy clients' demand," Fang said. "To some extent, the revision is not to make my clients happy but to make me satisfied."
Fang said his father gave him strong spiritual support when he started up the business.
"I was told I must be persistent if I decide to start up a business," he said.
In the early stages, Fang did not have much funding so he saved whatever he could and cycled everywhere, which turned out to be a problem.
"Some clients showed interest over the phone. However, they sent me away when they knew I visited them by bicycle," said Fang.
He continued cycling but dressed a bit smarter and he now has 10 employees.
"I have never expected to have such growth. I just wanted to make a living at the very beginning," Fang said.
The entrepreneur is applying for patent certificates for three of his products - two innovative patents and one exterior appearance patent.
In the coming years, Fang plans to develop products based on clients' needs and said he will combine sales with research and development.
"The profit margin for research and development services is very limited. I have to introduce research and development results to the market to support business growth," he said.
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Fang Dapeng looks at a suspension lamp made using his patent design. Photo provided to China Daily. | |