Doing business in China is lucrative and beneficial, if you know how to do it right. Otherwise, it can be very tough. Now let’s have a look at top three tips for doing business in China in the right way.
Build relationships with the right
Now you are probably wondering, “Of course, I know relationships are important, so why do you tell me something that I already know?” Well, as a matter of fact, the keyword here is “right”. Indeed, you have to build relationships with the right people in China. That being said, it doesn’t mean you must build relationships with Chinese celebrities; actually, it means you would be well-advised to identify who is the real decision maker in the dynamics. Sometimes, when you think the CEO of a Chinese company is the decision maker, you can be wrong. In fact, maybe the CFO or even the CEO’s secretary is the real decision maker – You need to figure it out by spending more time with your business partners in China after work. (Yes, you read that right – I said “after work” because Chinese business people are always hustling.)
Don’t underestimate how much information your Chinese customers have.
Please note that Chinese consumers are very information-savvy. Let’s say you are selling products in China and you tell them all the details that you would like your customers to know about your products. Now you have to understand that your customers are definitely already doing background research on the Internet and through their friends/family members. That also explains why most Chinese customers in department stores and shops already know what they want to buy when they go shopping – they trust their own research findings more than what the salesperson tells them. Therefore, you should totally manage your online PR well while doing business in China.
You must look the part.
Have you noticed that most successful Chinese business people dress really well? That’s because they always dress the part. If you rock up in an amazing outfit and you carry a high-quality designer bag, your image will help you build trust with your Chinese clients and business partners, as now they are thinking, “This person dresses very well and can afford expensive accessories, so he/she must have high-end clients who are paying him/her high fees, which means his/her products/services must be really good.” In this way, you are more likely to get what you want as a result.
The Chinese work culture is very different from western one, and learning about the difference can make a huge difference in your success in China!
For example, you might not know that in China, flexibility in work and business is the norm, and changes in the contracts might happen anytime. Also, never accept anything too fast, take your time to negotiate and ask for more details - there is always room for securing a better deal for yourself.
Doing business in China might sound challenging but if done right, the gains are huge. If you plan to do business in China in the long term meanwhile feeling lack of confidence in its business and culture landscape, it’s recommended that you go work in China for some Chinese companies first, and then jump onto something bigger once you get a hang of the situation.