EJ 001 - Discover your Opportunity
Discover the Market
So you want to do business in Japan?
Regardless of our backgrounds, we all have something that made us want to come here.
And for each of us, simply mentioning the word “Japan”, will forever conjure up images of whatever that special thing was.
You see, what my dad didn’t understand back then, was that my interest in “those weird cartoons with the fighting robots” would ultimately lead to a pretty fulfilling life and career in the land from which they came.
And that’s a big part of the beauty of doing business in Japan. There’s a certain passion behind the projects that you see folks putting together here.
“Of course we want to do business in Japan. We love Japan.”
Opportunity
Emotions aside, there are plenty of reasons to enter the Japanese market from a purely business perspective.
Having a presence in Japan is sophisticated. It commands a certain degree of respect. It adds a significant amount of value to your brand.
That’s because an office or storefront in Japan is seen as having a kind of forward operating base in Asia. It can be a powerful jumping-off point, as you continue to grow into neighbouring countries.
Not to mention it’s the world’s 3rd largest economy.
So it makes sense that plenty of businesses would want to come here, but why do so many of them try and fail?
Think about the amazing job Japan has done in preserving the aspects of its culture that we all know and love.
You can find yourself in a kimono, partaking in a tea ceremony, at a temple, after enjoying a hot spring - on pretty much any given day of the week. All of that stuff is still around, and more accessible than ever.
Things that people enjoyed hundreds of years ago, have persisted almost completely unchanged, into the modern age.
🥷 "I deal by fax. ~ Only!"
For example, you might be surprised to learn just how many modern organizations will insist that a document be faxed. Yes, faxed - as in, using an actual fax machine.
Resistance
Unfortunately the same could be said about the job Japan has done of preserving some of its more stubborn business practices.
And that’s just a tiny example. Slightly humorous at best, mildly annoying at worst - depending on the kind of day you’re having.
But when applied on a larger scale, that kind of resistance to change is exactly what takes so many of us by surprise.
That’s why a lot of those entering the Japanese market for the first time have been disappointed to find that what worked well at home - doesn't work here at all.
And no one is more resistant to change than the powers that be.
There’s been a longstanding rumour that the industry leaders in Japan are all in handshake deals with each other.
It’s said that they protect their monopolies by entering secret non-compete agreements with each other, in order to keep any underdogs or outsiders from showing up and getting a piece of the action.
That’s only half true. Because it’s not a secret.
These types of deals have been made in the open, and are actually public knowledge.
"Gentlemen's Agreement"
In fact, if you look up the definition of the term "Gentlemen's Agreement", Wikipedia actually cites the deal that Japanese automakers made with each other.
Be strategic & methodical
But that makes entering the market sound impossible, right?
There are legitimate hurdles to entering the Japanese market.
But they are not brick walls. They are not unscalable obstacles.
Success in entering the Japanese market is not any harder today than it's ever been previously.
On the contrary, now might be the best time ever.
The first challenge is simply knowing what you're getting yourself into.
And we believe that finding a sensei is the only way to do it.
“The one who came before”
The literal translation of the word sensei is, “one who came before”. Someone who’s already had to navigate all the obstacles, climb all the hurdles, and send all the faxes.
Get to know the territory
With the right partners, the right mindset, and a little bit of patience - you can give yourself a pretty solid chance.
We came before & checked the market scape.
Together, we can come up with a unique strategy that makes the most sense for your unique endeavour.
Work with us
contact@eggworm.jp
So until next time - お疲れ様です and keep up the good work.