How To Do Business in China: Singapore Entrepreneur Benny Lee on What You Need To Know (Part 3/4)
Singapore’s Benny Lee: How To Do Business in China from John Exley on Vimeo.
This interview will intrigue you. Why? The world is changing fast, and Asia is at the forefront of exponential growth and increased importance in the world economy. Famed Venture Capitalist and early stage investor Dave McClure recently took his “Geeks On A Plane” team around Asia (they went to Shanghai, Beijing, Seoul, Singapore, & Tokyo) to meet with some of the entrepreneurs leading this global change (learn more here).
If you’re a student, aspiring entrepreneur/business person/leader, or just someone who is curious to learn about China’s unique business culture and way of doing things, you will get something out of watching this interview.
China’s market is notoriously difficult for western companies to succeed in (Read “Western Business Struggles to Break Chinese Barriers” for more). Nevertheless, because of globalization and the need to rise above their fierce competition, many companies believe it is a necessity to expand into China’s rich market. Especially since China just overtook Japan as the world’s 2nd largest economy 2 weeks ago. China has the world’s largest population (more than 1.3 billion people according to the World Bank) and the BBC has reported that China is attracting record amounts of foreign investment.
Which brings us full circle, to the 3rd segment of my comprehensive interview with the experienced Singapore entrepreneur Benny Lee. As the Founder and Managing Director of Benroth International, Benny has worked closely with western companies on expanding into the Asian market for many years; giving him an insider’s perspective on what the ‘X Factor of success’ is for China. In the interview, Benny also discussed which regions in Asia are hot and shares some funny stories of what Not to do when doing business in China.
If you want to know Benny’s detailed strategy for exporting to Asia, I bet you’d enjoy watching the 2nd segment of my interview with him.
Benny is also the Vice President of the National University of Singapore’s Business School Alumni Association, has authored the book on international marketing titled “Hold the Char Siew!”, and is considered a thought leader on the impact of geopolitics on business in Asia. If you want to know how Benny got started, check out the 1st segment of my interview with him.
What do you think is the best way to do business in China? Oh and by the way, if you watch until near the end of this interview above, I think you’ll be really surprised by what Benny says is the best way to know when a Chinese businessman trusts you.
Want more practical tips? Check out “Golden Hints for Doing Business in China” from the British Embassy in Beijing. Hope you enjoy the interview, and many thanks to Benny for his generous friendship and also to my friend Emily Donohue for kindly agreeing to record the interview with my camera!
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