Showing posts with label strategy bombay beijing Toronto loan debt Skype Wal-Mart. Show all posts
Showing posts with label strategy bombay beijing Toronto loan debt Skype Wal-Mart. Show all posts

Take a leaf out of Wal-Mart's play book

Wal-Mart’s growth got everyone excited until you see that the increase in revenues is from their growth in Asia. Before you get all depressed, learn from the winners in business. That translates to - Take a leaf out of Wal-Mart’s book.

Your strategy needs to include Asia.

Now again, do not get in a panic because this seems so enormous. Start by planning to take a Chinese or Indian business connection to dinner. Talk about your business. Could this person tell you about a similar business in China? Could they introduce you to someone there? You do not have to fly over there either; you can use Skype video conference.

Maybe explore if you could set up a relationship where you could list their phone number on your brochure? You might never do any business or get any referrals, but think about how your brochure would look with “Offices in Toronto – Beijing – Bombay”. Then if your clients needed a connection in those countries, you have a referral point and at the same time, you are beginning to have Asia in your company.

Business is baby steps.

A client of mine, manufactures and distributes light bulbs. He lives in Montreal and twenty years ago he did just that – took a Chinese buddy to dinner. This contact introduced him to a manufacturer in China and the business relationship grew. The Montreal business owner began small. Today, this Montreal light bulb company is the largest supplier to Wal-Mart of green light bulbs. See...baby steps. Make a call today and have dinner with an Asian buddy.

Jacoline Loewen, strategy consulting, Loewen & Partners.

Jacoline Loewen, private equity expert, author of Money Magnet, panel of CBC show - Dollar Signs with Dianne Buckner on at 1:30 Saturdays.