4 Serious Mistakes Foreigners Must Avoid When Entering the Japanese Market

The Japanese market is poised to accept more and more foreign businesses. The Japanese government itself is encouraging foreign businesses to establish themselves in the country, by reducing the cost to apply and reducing bureaucratic red tape as well.

There are many benefits to opening a company or a branch office in Japan, but there are also many pitfalls as well.

Below are 4 serious mistakes foreigners must avoid when entering the Japanese market:

  1. Incomplete Market Research

Market research is necessary wherever you hope to open a business, but it is particularly important when you are founding a company overseas, especially in a country that has a very different culture than the one you’re used to.

There should be no wishful thinking in market research, no “if we build it, they will come.”  Instead, it requires feet-on-the-ground researchers, proficient in the language, who can explore the markets and the trends affecting those markets to see if your business will be a good fit.

  • Is there a need for your service or product in Japan?
  • Who are your competitors, if any?
  • In what city would be the best location for your headquarters?
    • Sufficient workforce
    • Sufficient interest from consumers
    • An appropriate infrastructure

  1. Insufficient Planning

Insufficient planning would doom a company in any country, but again planning is more important than ever when establishing the business in a foreign country. Planning and market research go hand-in-hand but are two separate tasks. Planning includes researching the cost of advertising, whether to build a new building or rent an existing structure, where to locate the business for ease of access by employees and customers, and so on.

  1. Insufficient Capital

As you can see, many of the common mistakes businesses make during market entry in Japan are the same as are made in their own countries – including insufficient capital. A business must be capitalized sufficiently so that it can withstand at least two or three years of building up its clientele and becoming profitable.

  1. Ignoring Japanese Personal and Business Culture

This mistake is the most crucial one of all, and actually embodies quite a few sub-mistakes. Let’s give just one example: the business card. In most European countries, a business card is just something you give out to people. If the recipient folds it carelessly and sticks it in a pocket, the giver thinks nothing of it. If the recipient writes on it, the giver thinks nothing of it. But in Japan, those actions are insults to the giver. A business card is a very important document. A status symbol, and something to be treated with respect. Because of this, you’ll note that the individual giving you his or her business card will do so with both hands. You should receive the business card with both hands, also. The Japanese do not stick their business cards carelessly in a wallet to be given out when needed. They use a business card holder and expect others to do the same.

If there is a ritual involved in something as simple as the giving and receiving of business cards, how many more rituals are there that it is imperative you know to avoid offending your Japanese colleagues, superiors, or customers?

Business people in Japan will expect foreign businesses to respect their culture and learn the intricacies required. By neglecting to do so, your potential success could be compromised. For this reason, it’s important to employ a business services agency, such as SMEJapan.com, which can help guide you through the vast amount of knowledge required to open and run a successful business in Japan.

Working With Lenders Who Will Overlook Past Credit Problems

Having a poor credit record can feel burdensome and unpleasant, but there are some effective ways of dealing with and overcoming the most common consequences. Even those with especially weak credit histories, for instance, can often obtain loans from lenders who specialize in working with such borrowers.

Naturally enough, companies like Maxlend Loans do still have standards which they require all borrowers to live up to in order to be approved. Although the details will vary somewhat from one lender to the next, there are a few basic requirements that will normally be in force.

What It Takes to Borrow With a Negative Credit History

Most lenders prefer to extend loans to those who have previously demonstrated the ability and willingness to pay them back. Unfortunately, some people end up either making mistakes or running into unexpected troubles that mar their own records of this kind.

Fortunately, there are also lenders who will still consider issuing loans to applicants who have had troubles with credit in the past. In most cases, these companies will still look into details like the following before making a decision:

  • Recent bankruptcy. There are a variety of different ways by which a person’s credit record can be negatively impacted. Of these, bankruptcies are considered the most serious of all, and even more so when they have happened recently. While some lenders will overlook missed payments and outright defaults on particular debts, a bankruptcy in the recent past will often be a sticking point.
  • Bank account age. Lenders prefer to see well established financial history of various kinds, even with regard to checking accounts and the like. Trying to arrange for a loan that will be deposited into an account opened quite recently will often raise warning flags with lenders.
  • Overdrafts. Even an account that has been open for years could suggest trouble to a lender if its history should include too many overdrafts.

Some Lenders are More Flexible Than Most Assume

Beyond basic issues like these, there are certain lenders that are willing to overlook details that would give others pause. Finding and working with such a company can allow even someone with a markedly negative credit record to secure financing when needed.…

Looking To Become A Business Leader? Read This

Many people say that great leaders are simply born, but in our opinion they must be grown. While someone can start out with the capability for great leadership, they will not achieve greatness without the skill set and willingness to move forward. Here, we have compiled some expert tips on what it takes to become a great leader. Use this as part of your educational component, and start to grow your leadership abilities.

When you’re a good leader, you should quickly see the talent potential in other people. This helps you realize who to choose for certain tasks and where to position people. This can apply for both contracting people short-term or hiring someone full-time.

When a leader is setting goals, the goals should be realistic. We all want things done faster in life, but sometimes things take time. If you rush your team, you may find that there are more mistakes, unhappy team members, and a very stressful environment. Make sure that your goals can be achieved in the amount of time that you’ve allotted.

Do what’s necessary to promote group unity. This means making sure that everyone knows what tasks they need to perform and what everyone else is doing. This prevents duplicate effort. Also, make sure each member of the team keeps the others up to date on progress. This makes budget and time overruns less likely.

Good leaders should be honest people. Do what you can to tell the truth. Remain authentic. When you tell the truth, do so kindly. Be open about any mistakes that have occurred. Mistakes will happen, so you need to accept them. It is those mistakes that you can use to find a new solution. They can provide you with nearly limitless opportunities.

In order to be a great leader, you must be able to communicate your vision to your team. Explain clearly what the common goal is, and instill a vision of success in the group. Getting everyone working together on something they all believe in cements your leadership role in the group.

Business Plan

Although it’s a good idea to incorporate innovative ideas and continue to evolve your business plan, you need to stick to your original plan. Continuing to work towards a specific goal helps build your credibility and makes others confident in your abilities. Remember that your plan can be improved upon without changing completely.

Do not wait for things to happen, make them happen. If you get a great idea, run with it. If you think you spot potential problems in a business plan, work to determine how to avoid them. Try to prevent bad things from happening and make good things happen. Leaders are prepared and ready for almost any eventuality.

While some great leaders are born, most take years to fully grow into their roles. If you are trying to grow into your leadership role, the advice presented in this article will undoubtedly help. Review these tips time and time again, and do all you can to master them. By doing that, you will most certainly become a person that any team would be glad to call their leader.…

Sometimes, It Is Good to Just Sit Back and Look at the Market

As an online marketer, it is good to be able to step back and look at the market. The reason that you should just stop and observe is because you may find something that is very important to your marketing efforts. In some cases, marketing is a lot like investing. As a matter of fact, a lot of the concept of marketing is very similar to the concept of investing. There is the idea of trends. There is also the idea of putting something into the market to get something out of the market. A lot of people invest money and lose it all. It is similar when it comes to marketing in which people put in a lot of time and walk away empty handed.

One very important thing to look at is your niche. If you have a certain niche you are working in, you can just look at how your niche works. For instance, if your niche involves selling products, you can look for new products in the niche or any products that are in development. Newer products are more likely to trend and sell a lot than older products. One reason is that fewer people have the newer products.

Another reason to look at the market is so that you will know where to reach people. Each niche and industry has strong areas and weak areas. The strengths and weaknesses of niches can be something like the social networking platform or something as simple as the location. For instance, if Twitter is a strong market for a certain niche, then you can engage in the Twitter communities to gain a following. Another example is a niche that is strong in Dallas. Among the things you can engage in is any Dallas SEO to gain a lot of customers.

Looking at the market and observing the behavior of customers can make it a lot easier for you to formulate a plan for profiting. This involves finding the strongest aspect of marketing you can engage in. That can be your primary method for marketing. In other words, you would be putting your best foot forward as a marketer. To find out what your best source of traffic is, reading data is important. There are certain tools that are offered by social media platforms that can read your traffic. However, you can also download some tools that can read traffic on your website so that you can find out where everyone is coming from.

One good saying is that if you don’t know where you are going, you might not get there. Looking at the market can give you ideas on how you want to attack this activity of online marketing. Looking at the market can also influence you on the campaigns to use for advertising. For instance, you may conclude that your company is suitable for video advertising. Putting together a well-produced video and uploading it can attract people to your business in ways that just text marketing would not be able to.…

Importance of Having a Business Tax Accountant 

Most small business owners fail to appreciate the role of accountants in their business. The only times such entrepreneurs appreciate the importance of the accountants is during income tax returns and financial statement filing, renewal of licenses and business permits, or during other government audits. It is not a rare occurrence to find such businesses cramming to get an accountant who can help them quickly in such situations.

It is understandably difficult for small businesses to retain professionals for monthly tax preparation and bookkeeping. However, what possible benefits do these businesses forego in failing to maintain one? This article is designed to guide you through the key benefits of an accountant, be it in a small, medium or large business setting.

Tax Compliance and Other Requirements

Small businesses are not exempted from the monthly income taxes paid by all income earners. Failing to have an accountant would mean having to know the Taxation law to keep your business tax compliant. Accountants calculate and prepare tax returns for you keeping a good record for future review. This will save your business a lot of time and the entrepreneur does not have to learn accounting law to keep up with his business tax returns. Based on their experience and diverse knowledge in the accounting field, accountants can also give advice to the decision makers to make tax management more effective and efficient.

Saving Money by Avoiding Penalties

If you are not conversant with accounting and do not have an accountant keeping up with your return filing and tax compliance, your business is in a high risk of penalties for missed filing or incorrect filing. The most convenient way to avoid these penalties and interests accruing to them is to have an accountant. It is also a wise move to hire a small business accounting firm such as a Watson & Watt business tax accountant that is considerate in their charges if you are a small or medium enterprise.

Organized and Clear Financial Record

The motivation behind every business owner is the growth of their business. Growth entails diverse fields of a business. The business owner therefore must accord his time to making all business functions efficient and optimal. Failing to have a professional to take care of your accounting needs as a business owner often means that financial documents are not well organized. Finance and accounting are arguably the most fundamental parts of any business. Having disorganized financial records runs the risk of operating the business blindly without assurance of losses or profits.

An accountant plays a critical role in organizing and maintaining the day-to-day financial records of the business often referred to as Bookkeeping. With a well-organized and systemized financial record, the management can focus on growing the business rather than worrying about whether they have made a profit or a loss. The business owner can then use these financial records to project business growth and change business tactics to optimize profits for his business. Whether the business is small or large, acquiring an accountant is critical to its efficient running.…

A Complete Guide to Buying into A Franchise

Whether you are an entrepreneur with a dream or someone looking to simply try out a new career path, the concept of buying into a franchise has to have crossed your mind at one point or another. Buying a franchise is a tried and true method for aspiring business owners who want to break into the industry with the backing of a larger corporation behind them. There is plenty of misinformation floating around in regard to buying into a franchise, so we figured that we would level the playing field by giving you the right information. Today, we are going to talk about the pros and cons of buying into a franchise while focusing on cafes as our primary example.

An Overview Of Buying Yourself A Franchise

Alright, buying a franchise is an incredibly broad topic and it can be difficult to cover all of the bases in a single conversation. Let’s leap right into the most important aspects of purchasing a franchise including what to expect and the benefits therein. Whether you are looking for a Mrs Fields Franchise for sale or you’ve already lined one up to buy, you are going to have to learn a lot in order to make this work for you. Let’s leap right into this discussion with the facts.

1) What To Expect From A Franchise Investment

Let’s first start our discussion by talking about expectations. If you’ve read much about franchising, then you know at least a little bit about what to expect. In broad terms, buying into a franchise means that you will be working alongside of corporate headquarters in order to make sure that your business adheres to specific standards and rules outlined by the higher-ups in the industry. While you’ll have control of day-to-day operations, there is still some expectation of accountability and standards. Some companies are more loose with their standards and expectations than others.

2) Benefits Of Seeking A Franchise Investment

Alright, so the most common thought people have when considering a franchise investment is simple: why? Why buy into a franchise instead of starting your own original concept? Franchises allow business investors the chance to leap into the legacy of another company in order to profit off of it immediately. Franchise investors get all of the support from the corporate company that they could need as well as name-brand recognition and a massively improved marketing budget solely due to the fact that they are part of the same company. Additionally, you’ll find that profits come sooner than later because you are part of a normalized brand within the region.

3) Negatives Of Seeking A Franchise Investment

While buying into a franchise is obviously a quality business investment, there are some considerations that you have to make. When you buy into a franchise you are closely linked with the parent business. That means that their name is reflective upon your business, as well. While this isn’t an explicit ‘negative’, it is something to keep in mind.

Reporting Options For Online Payment Solutions

Online payment solutions provide businesses with extraordinary features that protect their interests. The advanced solutions go beyond completing transactions and provide invaluable data for business owners. A local vendor identifies solutions for business owners that improve their sales volumes and identify issues quickly.

Methods of Tracking Sales

Online payment solutions help business owners utilize a variety of methods for tracking sales. Among the options are the currency used during each transaction. The geographical regions in which the transactions are completed could provide insight into where the target demographic lives. Price points and the payment types selected provide options for assessing the company’s sales.

Reconciliation for All Financial Records

Reporting options make it easier for businesses to reconcile their financial records each month. The online payment solution provides a fully integrated system that helps businesses generate accurate financial records. At the end of each month and quarter, the business acquires a clear picture of their finances. The financial data helps the businesses manage their tax implications for the end of the quarter without issues.

Payment Conversion Reporting

The payment conversion reports help businesses identify from where their highest sales volumes were generated. They evaluate price points and payment types that generate the greatest profits. The reports show which products are selling the most as well. When accessing the financial records, the company has a better opportunity for maximizing their full sales potential. The data shows the owner which regions are top priorities and could generate greater sales volumes.

What is a Cleanse Report?

The cleanse report is a report that shows the business owner where payments are declined most often. Once all areas that have higher decline rates are identified, the business owner can discontinue services in the regions. By eliminating the areas from their market, the business owner prevents a potential financial loss and related risks.

Online payment solutions present business owners with reporting options that improve their company. The reports show where their highest sales volumes are and which payment types are preferred by their customers. The data helps the business owner streamline their business and serve their customers better. Businesses that want to learn more about the solutions can contact BlueSnap now.…