Doing Business The Japanese Way
The Japanese are known to be astute businessmen. Setting up a business in Japan is not a difficult nor expensive task for accomplish as long as you take the right approach. Good quality products always have a market in Japan. The key is to understand the business culture of the Japanese well enough in order to conduct business smoothly. The country is highly industrialized with rapid development of its economy.
Doing business in Japan requires business etiquette that you must be aware of. The Japanese are extremely cultured people and extend their habits to business as well. No matter how successful a local businessman may be he or she will be humble. You can reciprocate with a high level of respect and gratitude. Arrogance does not go down well with the Japanese no matter how tough a deal may be.
The Japanese are very particular about finances and will always look into the finer aspects of any transaction. Therefore, it is important to be well prepared and preferably have all documents translated into Japanese by a professional. When it comes to loyalty in business, the Japanese have a solid reputation and will expect the same from you in return as a business partner. It would also be prudent to carry business cards with Japanese on one side and English on the other. This will give them the impression that you are serious about doing business.
It is important to understand that any business interaction will take place in stages when doing business in Japan. The locals are particular about procedures and following a certain structure. In the first phase Japanese businessmen take their time to get to know a prospective partner, depending on the type and size of the business deal. The Japanese first look at building a relationship, followed by delivering information, and then moving on to a meaningful dialogue before clinching a deal. It would be prudent to hire an agent if you are looking for potential partners. An agent would be capable of introducing you to the right type of partners suitable for your business. Every business meeting ought to begin on a lighter note with no direct approach to the business part of the meeting. Allow your Japanese counterpart to work his way towards the business side of things.
Exchanging business cards is more of a ritual with the Japanese. When presenting your card it is prudent to bow with the card held with both hands. The Japanese consider it an honor and therefore pay special attention to the exchange of business cards. In addition, it is important to be punctual for a meeting since the Japanese are sticklers when it comes to time. When it comes to making decisions the Japanese prefer a unanimous consensus with the least amount of bargaining over terms and conditions, and pricing. If they have an issue they will deal with it one at a time. Most importantly, you can look forward to establishing a sound business relationship that can translate into profits for your business in the long run.