Being safe is risky: How China Sourcing helps manage risk.
On the surface, China Sourcing sounds risky. Working half way around the world, with a completely different culture and system, with Â a very difficult language, sets off flags in many a CEOs mind. But we all know that if you are stagnant and not expanding you are atÂ risk in today'sbusiness environment. We also know that China in not only the quality manufacturer to the world, but now the second largest market. So where is China in yourÂ business plan? I said it before; China is either a place to cut your manufacturing or distribution cost, anÂ emerging market or a direct competitor. Sometimes all three.
Chinese Symbol meaning "Risk"
The China Sourcing factor:
So if you are not factoring China Sourcing in your business plan, there is a good chance that you are putting your company at risk by playing it safe. China Sourcing companies like Avela Corporation can help you develop yourÂ China strategy, but regardless of how you approach China, you need help.Â Some see risk as a four letter word but, I equate risk with positive outcomes like opportunity, stability and growth. And the safe way to manage risk is through your business plan.
China Sourcing missteps:
Many companies realize that they need to be in China and spend a lot capital making missteps along the way. I hear too many stories of someone who "knows a guy" in China who can help me with my China Sourcing. These stories always start off well, with some success. But too may times end badly. Or countless stories of developing internet relationships that result in bad outcomes. Business in China is about finding the right fit and building a relationship. And knowing a guy or working through the internet is how I define risky business.
My over all point is that you need to include China in your business plans, and when you are ready to act, get professional help. Experts hire consultants, athletes have coaches and seasoned travelers hire guides. So do the safe thing and take a risk. And if you are considering China Sourcing in your business planning, manage the risk by getting help. Contact Gary at Avela for your China Sourcing business strategy.