Our impressive panel, moderated by Mandy Menaker, included: Douglas Lee of Invest Hong Kong, Danye (Denise) Wang of UniGlobe Capital, Michelle Yu Quinn of Cheung Kong Graduate School of Business, and Philip Delvecchio (费杰) of Accathon Capital.
Here were the top insights:
1. It may be desirable to target a specific city or country long-term, but start in areas where you already have people you trust who can help make your project successful.
2. See if the reason for expanding needs to be solved by (a likely expensive and hefty) expansion. You may just need to make a local change.
3. Have patience. Building relationships takes time and many cultures, especially that of China, are people-based. Spend time networking and finding strategic partners.
4. Knowing when to enter a business is as important as knowing when to exit. Keep an eye on competitors and changing climates, and be open to exiting what was once one of your biggest markets.
Thank you to everyone for braving the cold! We will see you for our next NYC event on February 11th (and please join us for our February 7th SF event if you are in town!)