You are at your wit’s end, everybody in the office is a nuisance, and your neighbours are just the worst. These are familiar scenarios happening across the world. Self-employment and entrepreneurship are the most sort after career choices, with new companies springing up each day. Japan is one of the markets you should look at if you aspire to be an investor. The market is well advanced that virtual currency is as good as legal tender. For example, you can use bitcoin to top up your casino wallet at Casimaru.com.
The island nation is currently the third-largest economy in the world. So wealthy is this country that some of its regional economies have GDPs higher than some European nations. For example, the Kanto prefecture has a GDP greater than Brazil, with Kanto at 2.4 billion dollars against 2.3 billion. Now that you have all the numbers, how do you make it in business?
Discover the market.
Japan is rich in culture and tradition. Some of those practices are still in force today and influence how you conduct business. Therefore, before starting a venture in this economic paradise, do your due diligence to identify the opportunities available. Avoid the temptation to go full gung-ho. Take time to survey the competition, discover how buyers relate with products and then execute. A good entry strategy will avoid you having future migraines.
Online is where it is all happening.
You should know that 90% of the country has internet access. Consequently, the most successful businesses are all online. However, it goes beyond owning a domain. The Japanese are keen on these three things:
Who is the owner?
You have to put the CEO’s picture on the website. That is the only way that your potential customers feel an attachment to your brand. Knowing there is someone accountable goes a long way to building brand loyalty.
Although your website is doing well in other markets, that may not be the case in Japan. Do not use cheap translating software for your content. Hire a local copywriter to help you create content for your local page. The more you exhibit nativity, the better your chances at success.
Give them the answers.
You may think having an FAQ section is for suckers. Oh! How wrong you are. The Japanese are one of the most curious human beings. Ensure that you provide helpful and necessary information on your website to build trust. Honesty is a cardinal rule in this society. Therefore, do not offer empty promises.
You are the inventor of the latest gadget, but not everyone will gravitate to it the same. In hiring a local expert, you are investing in first-hand knowledge of the market. Locals are known for their polite and mild temperament. Without an expert, some of the non-verbal cues you receive may give you the wrong idea. For example, the executive may have nodded, indicating a yes, when he actually meant no.
The one-month stay will totally be worth it.
Some investors tend to be very thrifty in the beginning. Understandably, starting a business from scratch can cost a lot of money. However, before committing your money, it is advisable to stay in the country for a while. Exposure to the local customs and traditions will make your resettlement much easier. Additionally, you can interact with potential customers in informal settings making their feedback more authentic. Finally, familiarising yourself with the language will also show your commitment as a solid investor.
Think a decade or more.
The Japanese market is not a passing fad. The government is continuously legislating and investing in different sectors to promote foreign investments. Each year, legislators are proposing new laws, and industrial complexes are opening their doors to you. For example, you can get your residency permit in a year if you are a high-skill professional. Before this, the process took five years.
Additionally, having a ten-year investment plan is easier to sell to potential partners in the market. They will be more vested in seeing you succeed and support you more readily. It does not mean that you cannot succeed as a short-term investor. However, your partner pool is smaller than that of a long-term investor.
Kudos for deciding on becoming an investor. There are several markets to invest in, but Japan is by far the most promising. The above tips are your head-start to the millions that await.