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Japan market is relatively difficult and it is essential to have a business plan in Japan to achieve profitability and reduce risks.
Method to enter the Japanese market
First, it is important to understand what has made you company successful in its home market and also on the markets that it has entered before Japan such as US market or European countries markets. We can then outline the standard business model for your company, what are you key strategic advantages and what has made you successful in other markets.
Then, comparing the successful business model with Japan market environment, market regulations and competitive situation, it is possible to design a market entry strategy for Japan and the associated business plan. The business plan will details each steps of the Japan market entry with objectives associated, sales objectives and resources needed in personnel and budget. This plan will give you leverage to get necessary resources from corporate headquarters and reduce risks
Partner or not Partner: the classical dilemma of Japan market entry
A key issue that will be addressed by the business plan is to outline the advantage of partnering and make a recommendation in this area. Depending on each business situation and market environment the answer will differ.
There are basically 4 possibilities for Japan market entry:
- Going alone with the help of a consultant
- Getting a Japanese distributor
- Making a Joint Venture with a Japanese partner
- Making an acquisition of a Japanese company.
P-j Transervices will help you outline what is the best choice for your firm Japan market entry
If you decide to go with a partner, P-j Transervices can help you during the whole process form identifying potential partner, to selecting the partner and set up a partnership agreement in favorable terms.
Pitfalls to avoid for Japanese market entry
The typical pitfalls when entering Japanese market happen when foreign companies enter the market directly without taking time to study to enter the Japanese market.
An approach that is risky is to start by directly hiring a Japanese national for starting the Japan subsidiary. First it is difficult to hire a valuable person that has a good level of English availability. May times it also happen that a person with less English ability is a better professional than the one with fluent English. English fluency is far from being a guarantee of success for the Japanese market.
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