Asialink recently showcased NiHao Global, founded by Nigel Blair and his Chinese business partner Janey Lee. This case study demonstrates the importance of doing your research when looking to do business in China.
It took four years of research and planning before Nigel Blair of Nihao Global felt ready to launch the business in 2013. He took every chance to learn about the local market, culture and business environment. He went on several Australian and state government trade missions to China, proactively engaged with local and Australian businesses there, including the various Australian Chamber of Commerce, and spent time networking and building connections.
With more Australians and other foreigners expanding their businesses into the country, there was a rising demand for high-quality interpretation and translation services. There was also a need for other professional assistance, such as market research on local Chinese companies for partnerships, and personal assistants for those visiting China on business trips. The concept of Nihao Global was born.
- Strategically review the market and identify a gap – research and learn about the market and think ahead to identify emerging opportunities
- Engage vital Chinese market insights – consult those with local knowledge that understand the market well. Ensure your Chinese partner is the right fit for your business.
- Effectively navigate China’s business regulation environment –the constantly changing nature of Chinese laws and regulations is an ongoing challenge
- Don’t cut corners, reinforce quality – it’s easy to cut corners to maintain growth but don’t risk damaging your reputation
- Constantly reinvent yourself – it’s vital to keep up to date with the continuously evolving environment. Know what your competitors are doing and what clients want.