Renowned businessman and “Prince of Gymnastics” Li Ning has been invited by the Macao Trade and Investment Promotion Institute (IPIM) to take on the role of “Conference Ambassador”. Mr Li was a keynote speaker at the Forum on Chain and Franchise Business Opportunities of International Brands at the Macao Franchise Expo 2017, which took place in Macao in July 2017. Mr Li told his audience about his experience of using big data to enhance his business.

In an interview with Macao Image, Mr Li spoke about the potential of Macao as an international centre for meetings, incentives, conventions and exhibitions (MICE) and how he believes a sportswear brand should be run. He also offered some advice on starting a business.

The historical background of Macao, its tourism facilities and its hotels are all solid fundamentals for organising large MICE events here in Macao.

What makes Macao attractive for†international conferences and†exhibitions?

I think Macao has good foundations built by the tourism and gaming industries. As the city is developing in increasingly diverse ways, the Macao SAR Government has come up with this strategy of focusing on developing the MICE industry, which is valuable and very meaningful.

The historical background of Macao, its tourism facilities and its hotels are all solid fundamentals for organising large MICE events here in Macao. I believe Macao will become an ideal centre for various exchanges, given its proximity to Mainland China and the potential for development created by the “Belt and Road” initiative under the “One Country, Two Systems” principle.

Which MICE activities are more likely to be held in Macao?

I believe the sports industry has a correlation with tourism, by and large. As I’m in the sports business, I will push for active promotion of sport-related conventions, exhibitions and forums to be held in Macao.

What are the conditions that Macao has that makes it suitable for sport-related conferences and exhibitions?

I think Macao already has suitable conditions for that. The business environment here is going to change dramatically once the Hong Kong-Zhuhai-Macao Bridge is open to traffic. I believe that the government will introduce easier visa arrangements, which are essential for supporting large conferences and exhibitions.

There are MICE planners that hold similar events in Shanghai or Beijing every year. For them, Macao is a more open environment. The city not only welcomes participants from Mainland China, but is also conveniently accessible to those from Southeast Asia and from other countries and regions that are closely involved in the “Belt and Road” initiative. All this makes a good stage for the promotion of the development of the sports industry in future.

What°¶s your take on the development strategy of the Macao MICE industry?

I think the “priority to conventions” strategy is well-fitted to the market reality of Macao and the global marketplace. So, our next step should be to establish better contacts with the organisers of international conferences and forums – whether the events are for the high end of the market or for the mass market.

Several conferences are held by various international sports organisations every year. For instance, the International Olympic Committee Athletes’ Commission, which I worked for before, holds a conference every year. The International Federation of Gymnastics also holds meetings several times a year.

All of these types of meetings or conventions are held in various parts of the world, so this presents an opportunity for Macao to hold one such event. There are always conferences and exchanges held by sports companies, and by businesses in tourism, medicine, technology, automobiles and aviation. Our task should be to have more exchanges with these conference organisers and explain to them the advantages of holding their events in Macao. Also, I think Southeast Asia is a good market for Macao. Many institutions in that part of the world would also like to come here.

Big data boost

One of the topics you broached during the forum was the use of big data. How does it help your business?

Data itself should not be the final goal. The more important thing with the use of big data is whether it can help your business progress, or help it gauge market demand more accurately.

For us, the use of big data is meant to help our company determine which path we should take. The Li-Ning brand has strong athletic DNA because the company was built on the knowledge I acquired as a sportsman. We looked for the sports items with the biggest business potential in China. So through some data analysis, we concluded that we should focus our efforts on developing our products, sales channels and customer experiences for items related to running, basketball, badminton, table tennis, gymnasiums and football.

How would you advise more conventional businesses or SMEs to make use of big data?

There is not much correlation between the size of a company and the use of big data. There are various channels for obtaining the data you need. They may be data about your own business, or data available publicly. What matters is how you analyse it and how that might help the company make business decisions.

There is no definite formula for success in making use of big data. A company could use it for the task it is most useful for – whether it be carving out sales channels, product design or product pricing. A company could analyse the big data it has collected and apply to the business through the effective use of internal or external data or with the assistance of professional companies.

Do you think an athlete’s competitive spirit is important for start-ups?

Yes. You have to be courageous in doing what you are doing. In running your business, you have to be well-equipped with good technology and management support, market information, human resources and sound financial management. All of this requires constant learning.

What is your advice to young entrepreneurs?

First of all, you have to be interested in what you are doing, and believe that it is valuable and meaningful to you. It is only when you are willing to exert effort in your venture that you appreciate the fun of it and are courageous enough to stand up to any challenges you may face.

You also need to be quick in grasping business opportunities. You can find solutions only when you have sufficient confidence and interest in your own project. Of course, you’ll be facing a dynamic market with constant changes in demand, and a lot of competition. You have to learn how to grasp opportunities and stand up to challenges. Whether or not you make a huge fortune depends a lot on the opportunities that arise in the market – and also luck.