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Networking across jurisdictions | How to identify relevant connections for doing business in Asia

Building relationships is critical for doing business. Not just locally, but especially when taking your product or service overseas. There’s a lot of information around about HOW to do business, particularly with a country like China, but WHO can you reach out to for internationalizing  your business?

For many, finding the right connections is not easy. Especially for smaller businesses, who may not have the strength of big brand to open doors. Many SMEs don’t have high level business connections, and are  unsure how to access government support.

If you are looking to take your business international, it’s just like setting up locally, but there are so many more factors to consider. Many of these, particularly for Asia, you may not even be aware of. This is why it is important to work with those who have relevant expertise, or have trodden the path before.

Where do you Start?

The first step is to research, research, research! Then armed with knowledge of how your product or service may fit into your chosen market, start developing your strategy for going international.

Having partners on the ground is often quoted as the key to success. So should you look for an investor, distribution channels or a Joint Venture relationship?

In considering your marketing strategy how should you position your message and what delivery channels should you use. There are-on-line channels including WeChat and off-line such as conferences and expos. So, based on your strategy, the client opportunity and the ideal partners who may be able to help, how can you find them?

Networking Channels

Depending on what connections you are looking for, there are a range of options for seeking out introductions.

1. Government

In China, government officials are held in high regard, so is essential to build strong relationships. This is where Australian government agencies can assist. Once you have a clear strategy and have made some progress on your plan, you can seek support from agencies such as the Australian Trade and Investment commission (Austrade) and the Department of Foreign Affairs and Trade (DFAT).

2. Industry Associations
With AsiaLink Business CEO Mukund Narayanamurti

Your own industry association should be the first point of call and many have services such as the  NSW Chamber of Commerce’s Export Growth China.  Tapping into your target market, the Australian Chamber of Commerce in Hong Kong  is the second largest chamber there, and other cities include South China and Vietnam. Many have business matching services such as AustCham Shanghai’s Business Engagement program.

3. Private Consultants

Depending on your strategy and target market, it is important to find the right consultant, noting there are so many aspects to consider. Livia Wang from AccessCN has built a reputation for the Diagou market for getting your brand know in China, Cynthia Dearin has experience in the MENA region and has recently launched the International Business Accelerator coaching program, and Simon Kaiyu Li provides China Marketing and Cross Cultural support.

4. Corporates and Institutions

A lot of large Australian corporates have businesses or representative offices overseas. They may be able to assist or could  even be interested in your specialist expertise.

5. Banks

Most banks have international departments and many have Asia Business Specialists. They assist their clients not just with inbound and outbound transactions but also to help facilitate business growth in supporting their customers. Banks are also good sources of contacts through their overseas branches or correspondent banks.

6. Accountants, lawyers and other professionals

Many professionals such as accountants and lawyers have assisted their clients with market entry strategies already. Start with your own relationships, and also seek out specialists in your industry. Many firms have offices on the ground, or are part of global networks, so can make local introductions.

With Cynthia Dearin, my Project Sponsor and author of Camels, Sheiks and Billionaires.

7. Centres of Influence

With the internet and social media, it is not difficult to find industry thought leaders and those active in the sectors and countries you are interested in.

A directly targeted message via platforms such as LinkedIn, can help identify thought leaders and experts you can reach out to for assistance.

8. Friends and Business Colleagues

With today’s globally mobile workforce, many of our friends and colleagues have worked overseas. They are a good place to start for building international connections. Just ask them “Who do you know?”

Networking Strategies

There is no shortage of content today and it has never been easier to share successful strategies, tips and insights.

1. Articles & Blogs

The Expat Advisors Community website has a range of articles from developing your networking strategy, creating an elevator pitch, making the most of attending networking events and conferences including capturing your notes and how to exit a conversation gracefully.

You can download our networking tips here and access blog posts here.

2. Listen to Experts

My Aus-Asia Business Program features a range of experts sharing their own Aus-Asia journeys and providing their top tips for going international.

Recent guests have included:st

Upcoming interviews include the new CEO of Austrade, Stephanie Fahey and Director of the Hong Kong Trade and Development Council, Bonnie Shek.

3.Attend Events

Expat Advisors Community holds regular discussion groups and promotes curated events from relevant associations such as:

  • Hong Kong Australia Business Association (HKABA)
  • Australia Vietnam Business Council (AVBC)
  • Australian Services Roundtable (ASR)
  • Australia China Business Council (ACBC)

and a range of other events with a focus on China and South-East Asia.

Bringing it all Together

There’s nothing like getting on the ground and great way to do this is being part of a business mission such as the Asian Financial Forum in Hong Kong each January. 

As mission leader for the last two years, my role is to understand delegates business strategies, market their messages, arrange opportunities to network, meet relevant connections and provide tools to promote their expertise including business matching both on-line and off-line. Plus, the comradery that comes from being in-country with like-minded business people, promoting each other’s expertise as brand Australia!

Watch this Space

I am currently working on a book entitled “Who do you know? Building networks locally and globally.” This will include interviews with leading global networkers and connectors.

It will be supported by a range of tools from how-to guides, keynotes and seminars as well as individual coaching and consulting to help fast-track those looking to connect across jurisdictions to expand their business internationally.

Today with the internet for research, social media for connecting with experts, and access to networking consultants, it has never been easier to grow your network locally and globally.

Stacey Martin has a financial services background working with expatriates and investor migrants. Founder of the Expat Advisors Community, today Stacey consults with those looking to do business in Asia. This article is an extract from Stacey’s 2017 AsiaLink Leaders project. graduation speech. A year long program, the mandate for AsiaLink is to develop an Asia Capable workforce. For details on the 2018 course go to the link here

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Join us for business, networking & deal-making in Hong Kong this Jan

A great crowd assembled  for the AFF information briefing  on Tuesday 17th October to hear about the forthcoming AusNZ delegation to the Asian Financial Forum in Hong Kong, 14th to 19th January, 2018.
Luca de Leonardis, Invest HK

Luca de Leonardis, InvestHK kicked off the briefing at historic Hong Kong House in Sydney. He explained why Hong Kong is the Gateway for those looking to do business in China and how they can assist with business set up.

Head of Hong Kong Trade and Development Council (HKTDC) Bonnie Shek delivered the keynote presentation on the Asian Financial Forum (AFF) conference, now in it’s 11th Year. Hong Kong is a hub for international business and investment, and is the gateway to more than 5 million HNW individuals.

Bonnie Shek, HKTDC

Part of International Finance Week, last years event saw 100 global leaders, speaking to almost 3,000 business and finance delegates from 50 countries, plus 620 one-on-one business matching meetings at the AFF Deal Flow.

You can download the AFF presentation here and view the video here. 

Attend as part of the AusNZ mission

Those that have done business in China will be familiar with the term “guanxi” and the concept of “three cups of tea” of stranger to friend to part of the family.

Mission leader Stacey Martin, Founder of Expat Advisors Community, shared her AFF journey from first year overwhelm, second year focus, third year a clear proposition, fourth year holding expat and Significant Investor Visa events and fifth year running the mission.

Leveraging these learnings, this year there will be individual delegate consultations to ensure those that decide to come along will be well prepared. This includes networking tools, clear positioning on what they have to offer and who they would like to meet for the Delegate Booklet and social media profiles.

Following the Sunday evening welcome event and the two day AFF conference, delegates will have the opportunity to showcase their services at the migration and property seminars which are being promoted to local networks and businesses.

A day trip into Shenzhen to see the real China will be followed  by the Family Office Conference back in Hong Kong. There will also be an evening Junk cruise on Hong Kong Harbour.

You can view the current draft itinerary here.

Feedback from past delegates
Steve Newnham and Adam Goern from Farms and Finance.

The 2017 mission saw the trialing of Adam Goerns Farms and Finance platform to augment the AFF deal-flow matching . First time delegate Steve Newnham found it  a useful tool to represent a number of agriculture deals.

View the Farms and Finance video here.

Despite having been to Hong Kong around 50 times, Vincent Lim of Sumo Group still finds the AFF a great forum for gaining up to date knowledge and insights whilst catching up with business partners.

Drew Waters, past CEO of AustCham Hong Kong now back in Australia shared how the local Chamber is there to help Australians looking to do business in Hong Kong, with representative committees including Finance, Legal and Tax providing Thought Leadership and representation.

Steve Newnham, Drew Waters, Stacey Martin, Vincent Lim, Adam Goern.
Who Should Attend

Whether a first time trip and study tour to hear from leading experts on the opportunities in Asia, are ready to do businss and want to build relationships or have an extablised network, there is something for everyone wanting to benefit from the growth in Asia.

Delegates will include services providers across finance, wealth management, legal, accounting, migration and property. Also business and project owners, particularly Agriculture, seeking strategic investment partners at the AFF Deal Flow.

One of the key benefits of attending with a group of like-minded business people is the comradery among the delegates who can position each others businesses.

Supporters

We are delighted to have endorsement of the mission from Austrade, Australian Services Roundtable, Pacific Economic Basin Council and AustCham in Hong Kong and Shenzhen. Plus of course HKTDC, Invest HK, HKABA and HKNZBA.

Sponsorship packages are available for those considering bringing two or more delegates and we expect to soon announce from banking, funds management and professional services.

For more information

Download the AFF Mission Flyer 2018 or go to the  website where you will find more information and regular updates. If you are interested in finding out if coming to Hong Kong, third week of January, will suit your business growth plans contact Stacey Martin at  stacey.martin@expatadvisorscommunity.com.au or call +61 413 127 677.