What are the rules for doing business in Asia?
The safe business climate, the high consumption rate and the wealth make Asia the perfect destination to set up a business. It has more than two hundred million inhabitants and is composed of three countries with strong economies and similar profiles. Many companies have succeeded in the Asian market by following a few rules that we will tell you about in this development.
The first rule is to highlight clear competitive advantages. The local competition in these countries are numerous. You can check my site for details on how to get out of it. To convince your future partners and prospects to adopt you, you will have to distinguish yourself from the international and domestic offer that exists. You must offer competitive prices, breakthrough innovations, etc. You must be able to adapt your communication tools to the Asian reality. This is a very important point to allow the consumer to easily find his way in your services. For example, you must have an interface in the local language and make sure it is compatible with the ecosystem of the targeted country. If English is the spoken language, your information should also be in English.
In Asian markets, the level of existence is very high, so you must be impeccable on the quality of your services. Avoid late deliveries, sloppiness and especially lack of performance. In other words, you have to be exemplary, which allows you to maintain a better position compared to the local service and products. The best asset to convince your potential customers or partners is to have a solid reference. You can use it to show your seriousness to the Asian prospect in order to make them trust you. Basically, players in Asia give references a special importance.
You must be able to maintain and develop your network. For a country where the intermediary is unavoidable, the ability to establish a good relationship with your clients and the quality of your professional network are two indispensable elements. There is the question related to technical support that frequently comes from customers. They want to know what will happen if the product fails over time. To reassure them, you need to set up a reliable and responsive local language customer service to assist them in real time. You can also anticipate the issue and include a phrase that goes along the lines of having customer service available if needed.
In any business, it is important to have patience, especially for a business project in Asia. Although the market is better in terms of compensation, it still requires time to make the first stream of business profitable. You should not force or rush the setting up of contracts, but rather be patient and rigorous. You must assert your presence on social networks and in the press. In the business world, image plays a big role. Having a well-groomed image on the networks and in the professional press will allow you to establish your credibility in the long term. You can also prospect several other countries in Asia to maximize your travels.
Here are the rules for a successful business in Asia.