Wednesday, 4 February 2009
UPDATE 2-Sequoia Capital China founding partner Zhang resigns
China is a special market challenges for non chinese firms are:
1.) they need to be persistent & stay 'in the long' game, knee jerk reactions would promote 'less trust'
2.) how to manage & align trust with local representatives/partners/value chain is very difficult, as given the history of China, most people in power cannot stay long..
3.) a viable multiple entry strategy (like in politics!) except there are no rules! (ok, rules that change and interpreted differently... exciting!)
most importantly firm resolve of investment is key (NO knee jerk reations please..)
potential and real return would be unmeasurable!