While it is possible to set up a business in Japan without the assistance of local partners, doing so will significantly increase your risk and difficulty. There are numerous reasons that finding trusted partners is key to expanding your business in Japan. If you’re planning to expand your business in Japan, chances are you’ll need local help to make it happen. Even if you already have Japanese contacts, it’s not enough. The Japanese market is very specific when it comes to business partnerships. That’s why having a partner from Japan such as LoreaTec will open many doors for your company and help you avoid common pitfalls that new companies often face in this country.
Why Finding a Good Local Partner is so Important
Finding the right local partner is crucial for a successful partnership. Your Japanese partner can help you navigate and understand the local business culture. This is especially important when it comes to understanding the nuances of Japanese business etiquette. Your partner can help you navigate cultural differences in communication styles, networking, managing people, and understanding the different expectations of customers and employees. A good relationship and partnership is an essential foundation for success. Finding a good partner also gives you access to a network of contacts in your industry and in related industries. This is critical for getting new business and for building a successful working relationship with clients and other business associates. Your partner’s network will be your network, so finding someone who is well connected will open doors for your company. Finding a good partner is also much less risky than finding a good local employee. While it is possible to hire employees in Japan, it is difficult to find qualified people. While you can train employees, it takes time to find good ones. But when you find the right partner, you can start working right away.
Why a Good Partnership is Crucial in Japan
One of the things that makes Japanese business culture unique is the importance of “giri” and “on”. Giri is a sense of obligation or duty. On is an attitude of cooperation or helpfulness. These two words describe an important aspect of Japanese business and culture. Your partner must feel a sense of obligation to you and your company. If you partner with someone who has no sense of giri or on towards your company, the partnership will not work. The best partnerships are equitable partnerships where all partners contribute equally. But all partnerships are different, so you must find the right fit. You must choose a partner whose skill set complements your company and whose needs are met by your company. You must approach the partnership as mutually beneficial, not as a one-sided deal. A partnership between businesses is more akin to a marriage than a business contract.
What you should look for in a local partnership
While finding a good partner who can help you achieve your business goals is important, so is finding the right partner. When looking for a good partner, consider the following: – Cultural fit – Do you partner with companies that have the same values as your company? Do your partner’s values align with yours? Companies with different values are fine. But if you partner with companies with different values, your company may experience some friction as you try to find common ground with them. – Industry match – You want to partner with companies that do business in industries that are related to yours. This will help you expand your network and find new business opportunities. Ideally, you want to find partners that have experience in the same industry as yours.
The Importance of Being Located in Japan
Your local partner in Japan can help with office, storage and kitting spaces that may practically impossible to contract from overseas. Even if you find real estate you can contract from overseas this will tipically be the most expensive real estate. A local partner can help you set up your warehouse and kitting area in a lower cost second or third tier city as well as provide the kitting, packing and inventory services.
Partnerships with Local Companies
One of the best ways to find a good local partner is to look for a Japanese company that is looking to expand into your market. This is the ideal situation because your partner is interested in working with you and will be motivated to do a good job. When you are looking for a local partner, you want to find companies that are interested in expanding into your market. You can find these companies by attending trade shows, joining industry associations, and searching online for local business businesses that already operate in your target industry.
Conclusion
While it is possible to set up a business in Japan without the assistance of local partners, doing so will significantly increase your risk and difficulty. There are numerous reasons that finding trusted partners is key to expanding your business in Japan. When you find the right partners, you can expand your business more easily, navigate the cultural nuances of the Japanese market, and reduce your risk of failure.
