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Entrepreneurship in China
Dr Xiaofeng MaDr. Xiaofeng MaCEO, BI-Globe Co., Ltd.
Advisor, Beijing Business Incubation AssociationChief Researcher Center for Investment ResearchChief Researcher, Center for Investment Research,
ZTE International Investment Corporation
www.bi-globe.com
METP 5 at UIBESep. 15th 2010
PRESENTATION OUTLINE
● Company Introduction
● Entrepreneurship in China● Entrepreneurship in China
● The steps of opening a shop in China
www.bi-globe.com 1
Who are we?Who are we?
• Founded in March 2009,
• BI-Globe.com is the FIRST and ONLY company who focuses on Geomarketing and Geo Business Intelligence
i i Chi M k tservices in China Market
• Partner ith and• Partner with and
www.bi-globe.com 2
What is Geomarketing?What is Geomarketing?
« the use of concepts and methods of Geography to marketing questions »
offer demand
Outles Census
Trade areasConsumption
Segmentation
Market share
g
Attractionplaces
www.bi-globe.com 3
Geomarketing
Typical solved business questionsTypical solved business questions
• Site selection
• Network optimization
• Customer profiling
• Exact target customer
• Market Penetration Analysis
• Customer/Competitor Mapping• Customer/Competitor Mapping
• Marketing method optimization
• Service/product configuration
• Branch Performance Auditing
• Predicative Decision Making
www.bi-globe.com 4
PRESENTATION OUTLINE
● Company Introduction
● Entrepreneurship in China● Entrepreneurship in China
● The steps of opening a shop in China
www.bi-globe.com 5
General Principle for a successful entrepreneurial in Chinain China
DUniqueness
Dowhat large corporations are not willing to do, or what large corporations ignore
TeamWithComplementary Competence and skills
PersistanceBuild up a company is a long journey and with a life cyclea company is a long journey and with a life cycle
Reflection Success Sometimes takes more than one time trial
www.bi-globe.com 6
The necessary platforms for a successful start-upThe necessary platforms for a successful start up
It is getting more and more difficult for a success start-up in China without good networks!
Resource PlatformPlatform
Start up
R&DS&M R&D Platform
S&M Platform
www.bi-globe.com 7
PRESENTATION OUTLINE
● Company Introduction
● Entrepreneurship in China● Entrepreneurship in China
● The steps of opening a shop in China
www.bi-globe.com 8
Step 1: Evaluate China Entrepreneurialship EnvironmentChina Entrepreneurialship Environment
Negative factors:Positive factors:
•High GDP Growth rate
Negative factors:
•Regulation Environment
•Increasing purchasing power
•A lot sectors in the early
•Service system,e.g. Financing channels
•Less early stage & angel
Opportunity & Challengingdevelopment phase
• Incentive policies
Less early stage & angel investors
• inbalanced regional
Challenging
economics
www.bi-globe.com 9
Step 2: evaluateyour service/product in China marketyour service/product in China market
Non-
VRIN Framework
Valuable Rare In-Imitatable Non-substitutionable
Nodisadvantage
Yes Noneed
advantage
competitve advantage
Yes Yes No
Yes Yes Yes Nocompetitve advantage Yes Yes Yes No
Yes Yes Yes YesSustainable competitiveadvantageadvantage
[Source: Barney, 1991]
www.bi-globe.com 10
Step 3: Select a location for your officeStep 3: Select a location for your office
Where should I locate my office in China?
Beijing? Shanghai? Shenzhen?Beijing? Shanghai? Shenzhen?...
www.bi-globe.com 11
Step 4: Find a local strategic partnerStep 4: Find a local strategic partner
The key criteria for selecting local partners:
• Strong interestg
• Commitment
• Trustful
• Good Communication
• Competent
• Complementary
www.bi-globe.com 12
Step 5: localize your products/services andbusiness modelsbusiness models
Example: Geoconcept and BI-Globe
Background:
Geomarketing is in the European market for more than 15 yearsGeomarketing is in the European market for more than 15 years, However,It is new to China market
How should we localize the products/services to satisfy China market?products/services to satisfy China market?
www.bi-globe.com 13
Step 6: Sales and MarketingStep 6: Sales and Marketing
You need to anwer:
•Who?
•Where?
•What?
•How?
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Typical Challenges from my experienceTypical Challenges from my experience
Financial managementg
Product development Tier 1 challenges
Human resource management
Tier 1 challenges
Tier 2 challenges
Challenges management
Strategic planning
Sales and marketing
Partnership management
www.bi-globe.com 15
management
ConclusionConclusion
China has a lot of opportunities
The competition is getting tougher
Need
C f ll l t id ‘ fit ith th k t d dCarefully evaluate your idea‘s fit with the market demand
If yes,
Build up the necessary competence and partnership
www.bi-globe.com 16
Thanks for your attention!Thanks for your attention!
www.bi-globe.com
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