This is the final article in the three-part series on the challenges faced by international B2B publishers as they look to establish operations in China. (Part 3 of 3). The original appeared on Rev’d, the blog for http://contentrev.com

Part One: Don’t fear China, publishers should trash orthodoxies and embrace change (Part 2) (contentrev.com)

Part Two: Don’t fear China, publishers should trash orthodoxies and embrace change (Part 2) (contentrev.com)

Whether you are thinking of investing in China, or you are a publisher looking to sell products and services in China, or you are looking to source content for international subscribers from China, you’d do well to ignore many of the orthodoxies that govern business elsewhere in the world.

China – Dismiss the orthodoxies

In the first two parts of this three-part series, I detailed what I consider to be the five must-challenge orthodoxies:

• “I can’t do business with pirates”
• “Chinese companies are not prepared to pay”
• “China needs me (or us, or our business, or our products…) more than I need it”
• “If we’re cautious, we can avoid the mistakes of others”
• “If it’s worked everywhere else, it’s bound to work in China”

If you can re-engineer your thinking to get around the orthodoxies, the field suddenly starts to open up and you realise that while the risk profile may be higher (and certainly different to the norm), the potential rewards could be significant.

But there are real challenges. Cultural differences, language, the heavy hand of Chinese authoritarian and (sometimes) corrupt bureaucracy, arcane rules and myriad other issues combine to make this a tough place to do business.

Irrespective of your instincts, there needs to be one question that is kept at the front of the thinking:

“Can you afford to ignore China?”

And to that there is just one answer:

“No, you cannot afford to ignore China”.

Over the last decade, I’ve been involved in a number of projects that aimed to both tap into the value of the subscription publishing business inside China, and to extract content on Chinese markets that could then be packaged and sold to international subscribers. I looked at both informal and formal partnerships, setting up in competition to domestic information services, translating international content for sale inside China and acquisitions.

Some approaches failed, but through persistence, careful analysis and time spent building relationships successes were achieved.

Whichever route is tried (and why not try them all?), this is not something that can be done at arm’s length. It is important to spend time in China, to have a permanent or semi-permanent presence, to socialise with your Chinese colleagues, partners and hosts, and if necessary, to be prepared for karaoke.

China – Principals for business success

No one approach is going to guarantee success but there are some guiding principles:

• Research your market;
• Define your goals;
• Partnerships need to be cultivated based on equality and trust;
• You will achieve greater results through giving potential partners the opportunity to succeed rather than opportunities to fail (this is especially true when looking at piracy and intellectual property issues);
•  Invest sufficient time in relationship building before trying to push forward the business agenda;
• Don’t make assumptions, they are invariably wrong;
• One of your greatest assets will be unfailing good humour and respect for your counterparts;
• Keep your promises;
• Be prepared to move quickly and “fail faster” if required.

There are others, but remember, you probably need China far more than China needs you.

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ContentRev has more than 20 years experience working in Asia and counts China, Vietnam, Thailand, Cambodia and India as areas of particular expertise. Should you be considering new ventures in these countries, or if you are reviewing current strategies, we can help.

You can find more information on our Emerging Markets page, or Contact us to find out more.

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