I think you should be ready for competition as soon as you set foot in China. Sometimes even when you just announce your intentions to come.
It is a competitive marketplace. We know that as soon as good idea is launched, be it online or offline, you’ll have a vast amount of competitors.
It forces you to look at your strengths.
In other words, what is the value that differentiates you from other entrepreneurs? What kind of special knowledge or relationship from your home market do you bring? How do you use your technology advantage to create a niche?
Invest time to understand how the regulations work and expect overnight competition.
You won’t be alone in your space no matter what you decide to do in China.
Pascal Marmier is Vice Consul General (Innovation) & CEO, swissnex China