15 years ago, Jack Ma started his venture and dream that few people understood. Today he is considered the Chinese “Steve Jobs” and one of the most successful businessmen in history. Why and how he did it? Besides of having a vision and being persistent, his success is because, as a Chinese, he understands the Chinese culture, the market and consumers.
The Chinese market is huge. But besides being huge, this market is still new and still has a lot of growing to do and with that has incredible potential. Many that have tried their luck in China and failed, blamed corruption and copycats as the reason for their failure. Only a few have understood that doing business in China can only be successful with an understanding not only of the market, but also of the culture and the people.
Sure, Jack Ma is Chinese and therefore has an advantage, however, if you have listened to his presentation in front of a stunned CNBC crew (including Jim Cramer) during the Alibaba IPO, you could have gained some interesting insights. One of the take-aways was, understanding how China works is the key.
At the Wall Street Chinese, we have always incorporated a steep course of Chinese business culture into our programs in order to prepare businesses and people before they enter the Chinese market. If you want to apply western business savviness in China, you must pair it with knowledge of the Chinese business culture. Only then can you be successful.
If you are considering to enter the Chinese market, or you are planning on sending your people to China, contact us to learn more about our programs for businesses of all sizes.