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Marco Polo’s Knack for Business

Posted December 5th, 2012 by bbsadmin & filed under General Business, Motivation.

Marco Polo is famous for traveling the world and discovering new things. Business executives and enterpreneur can learn a few lessons.

1. Keep your business cap handy

When Marco Polo and his father left for China they were planning on being gone for several years. During their journey they did business in the places they passed through (Bio.com, 2012). They were not simply traveling to China to explore, they were looking to make a profit and when they saw an opportunity while on the road, they would take that opportunity. Business leaders who follow Marco Polo’s example have their eyes open for opportunities wherever they go. Think of the people you meet while you are out and about. Are there potential customers you while outside the office? Do you notice any business principle or practice which could be useful? Is there anyone you meet who you should meet again?

2. Value to others when networking

It is said that Marco Polo served Kublai Khan in his palace for about 17 years. Prior to leaving for China, Polo had been taught in school about business, among other subjects. It is evident that he was very valuable to the prince due to his knowledge (Bio.com, 2012). He teaches us that it is important to have value that can be added to others when you are networking. Networking is a powerful tool when it is done well. When networking show those you network with the value you can give to them by being connected to them.

3. Understand the culture where you do business

Marco polo embraced the cultures of the places he passed through. He learned the languages, customs, and stories. This helped them to be profitable and helped them gain the strong relationship they had with Kublai Khan. Consider the culture of the places in which you do business. You see examples of people who understand the culture of the places they do business when they are involved in local service projects, with local schools, and when they understand things that are demographically specific. What is the culture of the country, state and city where you do business? How can you adapt to the cultural norms?

4. Record keeping

Upon the return of Marco Polo, he had the details of his travels recorded in a book. He brought much knowledge of the trade in those parts of the world. As a business owner or business leader you should be keeping records. They can help by giving data that can be used to predict future outcomes, they can help you recognize failures and successes so you don’t make the same mistakes again, they can also be used if there is a legal necessity. What records are you currently keeping? What information do you see as valuable in the future? How are you storing these records?

5. Value of networking

The relationship the Polos developed with Kublai Khan through the years. They had been given a metal which had a special stamp on it. This was used to let them into different places they would otherwise not be allowed to get into (Bio.com, 2012). Your professional business relationships which are established through networking can do the same. They can allow you to get into places you otherwise would not have been able to enter. How does networking play a role in your business? What goals can you set to establish more professional relationships? How can you strengthen those relationships you already have?

Notable Quotes

“I have not told half of what I saw”

Works Cited

Bio.com. (2012, November 3). Marco Polo Videos. Retrieved from Bio.com: http://www.biography.com/people/marco-polo-9443861/videos/marco-polo-full-episode-2073408403