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3 Costly Mistakes To
Avoid
To Create a Profitable Asia Campaign
AS FEATURED IN THE WALL STREET JOURNAL
With David Clive Price
Which One Are You?
S I already have business in Asia and want expert tips
S All I see are people talking about launching business
in Asia, what’s this all about and can it work for me?
S I already know I want to start business in Asia - so
let’s get started!
What You’ll Learn Today…
1. Why Business in Asia is Thought So Difficult
2. Three Costly Mistakes to Avoid in 2014 & Beyond!
3. How to Turn Potential Mistakes Into a Profitable
Asia Campaign
4. How to Get Started
5. How to Get my Personal Help for Free!
For Those Who Don’t Know
Me…
S Coach-Consultant, Author, Speaker on Asia Business
S 25 Years in Asia and UK advising Asian and Western
companies
S Writer on Asian cultures, speechwriter to East-West
companies like HSBC & Standard Chartered
S Passionate about introducing businesses to Asia
The Master Key to Asia
S To support your business plans in Asia, I’ve written
The Master Key to Asia
S Of course I recommend it!
S You can buy it on Amazon as Paperback or Kindle or
at www.davidcliveprice.com/master-key-asia
S More support is on its way - The Master Key to
China!
Please Share on Social Media…
S You are welcome to Tweet questions and I’ll show
you how to get answers in my special BONUS
S Twitter handle: @DavidClivePrice
#asiabusinesslive
S Like & Share on Facebook:
www.facebook.com/davidcliveprice
S Let’s get started
Left out or confused?
S Go deeper into one market but feel you’re scratching
away?
S Have a partner but it’s not working as it should be?
S Deals gone nowhere, or emails unanswered?
S Low trust of new markets/partners/countries?
In an Asia market already but…
S Lack confidence and trust
S Not performing as well as you’d like
S Find the culture off-putting and oblique
S Cannot get a straight yes or no
MISTAKE #1: SHOWING
IMPATIENCE
S Wanting to wrap up everything quickly
S Aiming for decisions, signed & sealed contracts
S Thinking you can sign off and leave the rest to the
team or partner
S Forgetting that business in Asia is PERSONAL
What do all Asia markets have
in common?
S More communal & less individualist than West
S Collectivist: harmony, family, teamwork, hierarchy
S Not losing face but saving face
S Preserving the surface of things
The million dollar question for
Asia clients is:
S Can I do business with you?
S Can I introduce you to my network as a credible
business partner?
S Are you someone that understands our rules and
ways of doing things?
S Will you stick out or come over as excessively pushy?
So how can you fulfill these
requirements?
S Be present and show patience
S Build business relationships over time
S Build networks of obligations, trust and respect
S Watch the doors open when you adapt to the local
customs & cultures
Free Strategy Session Bonus
S Please save up questions
S For answers on individual markets and to discuss one-on-
one with me:
S http://www.davidcliveprice.com/strategy
S Spots are limited, so apply now to avoid disappointment
MISTAKE #2: FOCUSING ON
PROCESS
S Silence is not golden for Western ears
S Emails’ silence, presentations’ silence, yes-or-no
silence
S Why are we so insistent on a rapid response?
S We want a deal as quickly as possible in ‘globalized’
world
Treating Asia business as based
on transactions alone
S Indirect and relationships-based in most Asia markets
S Only very international cities like HK and Singapore are
exceptions
S Primary significance of long-term business relationship
S Guanxi (Chinese version) is at heart of Asia business
deals
What is a guanxi network?
S Tea-drinking and ‘non-business’ topics are part of
guanxi
S Chinese are not the only ones in Asia to use this
assessment process
S Much entertaining, drinking & karaoke also involved
S This makes results-driven Westerners even more
impatient!
What’s the difference with
Western networking?
S We build up organic relationships usually AFTER
contract is signed
S Contract is first stage in completion of other
contracts
S In Asia, guanxi & network building come FIRST
S Strong personal relationships and obligations lead to
deals
How can foreigners get guanxi?
S You don’t have college, local or family networks
S So the best you can hope for is ‘foreign friend’
S To become more than a ‘friend’, you must get the key
to the informal system
S The key is acknowledging obligations and building
your own networks
MISTAKE #3: BEING GLOBAL
NOT LOCAL
S Many foreign companies forget to localize their
brand and operations
S We live in a globalized world, we have great brand
DNA
S Problem is Asia markets are all different
S Countries like China have many different markets
(as Tesco and others have found out)
The example of Ruritania
S What’s special about the country that might affect
your business?
S What makes Ruritanians tick?
S Among their characteristics are a belief in Optimism
and no supermarkets
S They cannot say no and sign their contracts in
invisible ink
Asia is full of ‘Ruritanias’
S High growth markets with many cultures &
traditions
S Some are related but many are dramatically different
S Hong Kong is not Singapore, Tokyo is not Seoul
S Kuala Lumpur is not Manila, Beijing is not Taipei
The Key to Success in Asia
markets?
S Competitive intelligence
S Local knowledge
S Who are your main competitors in Asia?
S No longer global multinationals or companies
Competitors are local & regional
players
S Have their own ‘competitive intelligence’
S Understand local consumer behavior
S Have lower cost bases and more customer feedback
S Have long experience of ‘targeting’ to local Asia
tastes
How can you compete with local
Asian companies?
S Find out everything you can about the market
S Partner with strong local partners
S Leverage their knowledge of local tastes and of
medium-tier and lower-tier growing cities
S Immerse yourself in customs, etiquette & culture of
your target market (s)
Make partnerships for inbound
investment
S Think globally but start locally
S ‘Glocalization’ means global solutions
S Global solutions must have Total Relevance to local
markets
S ‘Glocalization’ will produce lucrative opportunities
for both Western & Asia companies
It’s all related!
S Avoid these 3 COSTLY MISTAKES to build
success
S Focus instead on relationships, networking and
long-term value
S Build ‘glocalization’ and competitive intelligence into
all your plans
S Create a successful business strategy for Asia
Special Gift for You
S Free 30-Min Strategy Consultation With Me
S Just apply here at
http://davidcliveprice.com/strategy
S Spots are limited, so make sure to reserve
yours now
More resources and info on coaching for your Asia
business at: http://www.davidcliveprice.com

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3 Costly Mistakes To Avoid

  • 1. S 3 Costly Mistakes To Avoid To Create a Profitable Asia Campaign AS FEATURED IN THE WALL STREET JOURNAL With David Clive Price
  • 2. Which One Are You? S I already have business in Asia and want expert tips S All I see are people talking about launching business in Asia, what’s this all about and can it work for me? S I already know I want to start business in Asia - so let’s get started!
  • 3. What You’ll Learn Today… 1. Why Business in Asia is Thought So Difficult 2. Three Costly Mistakes to Avoid in 2014 & Beyond! 3. How to Turn Potential Mistakes Into a Profitable Asia Campaign 4. How to Get Started 5. How to Get my Personal Help for Free!
  • 4. For Those Who Don’t Know Me… S Coach-Consultant, Author, Speaker on Asia Business S 25 Years in Asia and UK advising Asian and Western companies S Writer on Asian cultures, speechwriter to East-West companies like HSBC & Standard Chartered S Passionate about introducing businesses to Asia
  • 5. The Master Key to Asia S To support your business plans in Asia, I’ve written The Master Key to Asia S Of course I recommend it! S You can buy it on Amazon as Paperback or Kindle or at www.davidcliveprice.com/master-key-asia S More support is on its way - The Master Key to China!
  • 6. Please Share on Social Media… S You are welcome to Tweet questions and I’ll show you how to get answers in my special BONUS S Twitter handle: @DavidClivePrice #asiabusinesslive S Like & Share on Facebook: www.facebook.com/davidcliveprice S Let’s get started
  • 7. Left out or confused? S Go deeper into one market but feel you’re scratching away? S Have a partner but it’s not working as it should be? S Deals gone nowhere, or emails unanswered? S Low trust of new markets/partners/countries?
  • 8. In an Asia market already but… S Lack confidence and trust S Not performing as well as you’d like S Find the culture off-putting and oblique S Cannot get a straight yes or no
  • 9. MISTAKE #1: SHOWING IMPATIENCE S Wanting to wrap up everything quickly S Aiming for decisions, signed & sealed contracts S Thinking you can sign off and leave the rest to the team or partner S Forgetting that business in Asia is PERSONAL
  • 10. What do all Asia markets have in common? S More communal & less individualist than West S Collectivist: harmony, family, teamwork, hierarchy S Not losing face but saving face S Preserving the surface of things
  • 11. The million dollar question for Asia clients is: S Can I do business with you? S Can I introduce you to my network as a credible business partner? S Are you someone that understands our rules and ways of doing things? S Will you stick out or come over as excessively pushy?
  • 12. So how can you fulfill these requirements? S Be present and show patience S Build business relationships over time S Build networks of obligations, trust and respect S Watch the doors open when you adapt to the local customs & cultures
  • 13. Free Strategy Session Bonus S Please save up questions S For answers on individual markets and to discuss one-on- one with me: S http://www.davidcliveprice.com/strategy S Spots are limited, so apply now to avoid disappointment
  • 14. MISTAKE #2: FOCUSING ON PROCESS S Silence is not golden for Western ears S Emails’ silence, presentations’ silence, yes-or-no silence S Why are we so insistent on a rapid response? S We want a deal as quickly as possible in ‘globalized’ world
  • 15. Treating Asia business as based on transactions alone S Indirect and relationships-based in most Asia markets S Only very international cities like HK and Singapore are exceptions S Primary significance of long-term business relationship S Guanxi (Chinese version) is at heart of Asia business deals
  • 16. What is a guanxi network? S Tea-drinking and ‘non-business’ topics are part of guanxi S Chinese are not the only ones in Asia to use this assessment process S Much entertaining, drinking & karaoke also involved S This makes results-driven Westerners even more impatient!
  • 17. What’s the difference with Western networking? S We build up organic relationships usually AFTER contract is signed S Contract is first stage in completion of other contracts S In Asia, guanxi & network building come FIRST S Strong personal relationships and obligations lead to deals
  • 18. How can foreigners get guanxi? S You don’t have college, local or family networks S So the best you can hope for is ‘foreign friend’ S To become more than a ‘friend’, you must get the key to the informal system S The key is acknowledging obligations and building your own networks
  • 19. MISTAKE #3: BEING GLOBAL NOT LOCAL S Many foreign companies forget to localize their brand and operations S We live in a globalized world, we have great brand DNA S Problem is Asia markets are all different S Countries like China have many different markets (as Tesco and others have found out)
  • 20. The example of Ruritania S What’s special about the country that might affect your business? S What makes Ruritanians tick? S Among their characteristics are a belief in Optimism and no supermarkets S They cannot say no and sign their contracts in invisible ink
  • 21. Asia is full of ‘Ruritanias’ S High growth markets with many cultures & traditions S Some are related but many are dramatically different S Hong Kong is not Singapore, Tokyo is not Seoul S Kuala Lumpur is not Manila, Beijing is not Taipei
  • 22. The Key to Success in Asia markets? S Competitive intelligence S Local knowledge S Who are your main competitors in Asia? S No longer global multinationals or companies
  • 23. Competitors are local & regional players S Have their own ‘competitive intelligence’ S Understand local consumer behavior S Have lower cost bases and more customer feedback S Have long experience of ‘targeting’ to local Asia tastes
  • 24. How can you compete with local Asian companies? S Find out everything you can about the market S Partner with strong local partners S Leverage their knowledge of local tastes and of medium-tier and lower-tier growing cities S Immerse yourself in customs, etiquette & culture of your target market (s)
  • 25. Make partnerships for inbound investment S Think globally but start locally S ‘Glocalization’ means global solutions S Global solutions must have Total Relevance to local markets S ‘Glocalization’ will produce lucrative opportunities for both Western & Asia companies
  • 26. It’s all related! S Avoid these 3 COSTLY MISTAKES to build success S Focus instead on relationships, networking and long-term value S Build ‘glocalization’ and competitive intelligence into all your plans S Create a successful business strategy for Asia
  • 27. Special Gift for You S Free 30-Min Strategy Consultation With Me S Just apply here at http://davidcliveprice.com/strategy S Spots are limited, so make sure to reserve yours now More resources and info on coaching for your Asia business at: http://www.davidcliveprice.com