Market Knowledge – Essential to Establishing Achievable Plans and Goals!
To ensure a successful venture into China, small and mid-size USA firms should thoroughly understand the external and internal market factors in China, have well defined strategic and implementation China plan, and solicit support of local business partners to avoid start-up risks.
Personal Relationships (“Guanxi”) – Critical to Success!
Developing strong personal relationships with Chinese customers and partners is part of Chinese business culture on how to get results in China. These relationships can months or years to develop, and can be accelerated by the selection of the right China partner.
Chinese Perspective – Navigating through Rapidly Changing Environment!
Visiting China for face-to-face meetings with local business partners and potential customers is important to gain both market knowledge and perspective on doing business China. It can also start the process of developing key personal “Guanxi” relationships.
What to Avoid – Maximizing the Opportunity of Success in China!
Small and mid-size companies may decide to neglect increasing their presence in China, or decide to penetrate China using a strategy that was successful in the USA. China has tremendous potential that shouldn’t be missed, but it’s important not to underestimate the risks of establishing Chinese marketing and manufacturing operations.
