Doing Business in China For Dummies®

Develop Your Business Plan

Business planning in China is another way to help your company stay on the right course. These plans prepare you to deal with China’s complex, shifting markets. Here’s how:

✓	You describe goals and objectives. In a place where approval processes and other tasks may be unfamiliar, you set out plans to divide responsibility and ensure that everything gets done.
✓	You do in-depth, targeted research to size up the competition, analyze your financial situation, and describe your markets.
✓	You anticipate problems and come up with possible solutions — before problems happen. Being prepared for contingencies and changes in the marketplace — whether through new laws, new competitors, or failed deals — puts your company in a better position to respond in a way that’s best for your business.
✓	Having a written document that lays out your plans can help all your businesspeople send a consistent message to the Chinese.

See Chapter 4 for more info on business plans.