Doing Business in China: Unique Isn’t Enough
I’ve met with hundreds of brands who are entering, or currently doing business in China. One thing that constantly seems to shock people is that if you want to be successful here, being unique isn’t enough. China moves fast and disruption is the norm. You MUST be willing to adapt and shift as the market changes and new competitors come along.
We’ve reviewed both old and new companies that have been successful in a variety of sectors. Everyone that’s making it here, or has done well here at some point has a combination of these things.
- Control of the commodity. You need an exclusive product or service that has value in China and can’t be obtained through other sources.
- A disruptive technology or user experience. Create value for your customers through experience. Make it better, more fun, faster, easier, more intuitive, etc.
- Brand equity. Perhaps the most accessible of the three. The magical delta between awareness and purchase intent. If you’re already unique in some way, you can now build a real business here that has legs and will stand the test of time.
When you combine these three things with a unique product or service and the willingness to adapt, you become almost impossible to stop.
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