GlobalTQM | Sourcing and Manufacturing product in China for all entrepreneurs by David Hoffmann

Transparency and accessibility.

That's what the internet brings to the table.

It's easier than ever before to access products and suppliers from all over the world.

This increases competition and puts downward pressure on margins.

How are you going to stand out from your competitors?

How are you going to stay profitable in the long-term?

You'll have to become more efficient...

Cut down lead times and be faster to market...

And always be ahead of the curve with better or more unique products.

In this episode of the podcast, David talks about the (positive) effects of E-Commerce and Digitization on the sourcing game.

You'll discover:

• What today's buyers are really thinking when sourcing products (no, it's not "how cheap can I get this?")
• The one key factor your business will live and die by...no matter which marketplace you're selling on.
• How to take advantage of the "shared brain" of a buying team so you can be more productive and efficient.

Helpful Resources

• For a full transcript of this interview, visit our blog.
• Get a free copy of our book, China Sourcing For Startups.
• Book A free 15-minute consultation with our team.

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Back again with another segment from my webinar with Tom Pirenne of ShowSourcing.

In the last episode of the GlobalTQM podcast, Tom and I talked about whether Trade Fairs will exist in the future.

The answer was a resounding, “YES!”

Now that’s clear, let’s say you decide you’d like to fly to China to attend your first trade fair.

How should you prepare for trade fairs so you have a fun, comfortable trip that’s also fruitful?

That’s what we’re going to cover in this episode.

15-Point Trade Show Checklist

1. Install a good VPN on your computer before you fly over.
2. Install Didi on your phone. It’s the Chinese version of Uber.
3. If you use local taxis, have your concierge write down the hotel address and save a photo of it on your phone.
4. Pre-register for the big fairs and get your badge in advance. You can use the invitation letter to apply for your Chinese visa.
5. Do some research ahead of time to figure out which suppliers/ manufacturers you’re going to visit first.
6. Wear comfortable shoes. You’re going to be doing a LOT of walking.
7. Ask your hotel concierge where the nearest foot massage parlor is because it’s the best way to relax after a long day of walking.
8. Bring a lot of business cards.
9. Print business cards with contact info you'll only use with Chinese Manufacturers.
10. Research the type of products you’re interested in.
11. Take one or two power banks with you for your electronic devices.
12. Don't rely on your memory. Take pictures of everything.
13. The afternoon of the last day of the fair is the least productive time to attend.
14. Start your post-fair work before you leave China.
15. Send out RFQs at night when you're back at the hotel.

Helpful Resources

• For a full transcript of this interview, visit our blog.
• Get a free copy of our book, China Sourcing For Startups.
• Book A free 15-minute consultation with our team.

Subscribe To The Show On Your Favorite Podcast App

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When you've put 6-months and thousands of dollars into a business idea and ultimately have to give it up...

Have you failed?

This kind of situation is something all CEOs face at one point or another.

And if it hasn't happened to you yet, IT WILL.

In this episode of the podcast, David Hoffmann teaches you how to think through these decisions.

And avoid situations that can leave you worse off than when you started.

You'll discover:

• If you follow the process you'll always win, right? WRONG!
• What to do when you just can't get the numbers to work.
• The right questions to ask to figure out what the hell went wrong.
• When to decide, "it's time to quit."
• How to think like a real CEO.

Helpful Resources

• For a full transcript of this interview, visit our blog.
• Get a free copy of our book, China Sourcing For Startups.
• Book A free 15-minute consultation with our team.

Subscribe To The Show On Your Favorite Podcast App

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Have you ever been to the Canton Fair?

It’s a trade show that happens every year, in Spring and Autumn, in Canton (Guangzhou) China.

I'm going to tell you how to navigate the fair, or any Chinese trade show for that matter, like a pro.

You'll discover:

• Exactly what you need to bring with you when you attend the fair.
• The first question you need to ask a manufacturer if you're interested in a product.
• How to get the manufacturer to take you seriously.
• How to escalate the discussion once you've established their credibility and capability.
• Exactly what NOT TO DO (or say) when talking to manufacturers.

Helpful Resources

• For a full transcript of this interview, visit our blog.
• Get a free copy of our book, China Sourcing For Startups.
• Book A free 15-minute consultation with our team.

Subscribe To The Show On Your Favorite Podcast App

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This episode (and the next few episodes) of the GlobalTQM podcast will share segments of a joint-webinar I hosted with Tom Pirenne of ShowSourcing.

A few weeks ago, Tom and I were having coffee and he asked me: "Will Trade Fairs exist in the future?"

I admit I hadn't really thought about it, so it prompted a good discussion.

That's what I hope we can convey to you today.

I've been doing business in China for 20+ years, so I really believe trade fairs will be around for a very long time, and that they're the best way to build long-term relationships with quality suppliers and manufacturers.

10 Reasons Why Trade Fairs Aren't Going Anywhere

1. Trade fairs come with a significant added value over online marketplaces
2. Face-to-face interactions with manufacturers beat any other form of communication.
3. You can have lengthy discussions with dozens of suppliers to get all the information you need.
4. Manufacturers debut their latest designs, ideas, etc. at trade fairs.
5. You get to inspect hundreds of products in person.
6. You can take advantage of peer support and networking with like-minded business owners and manufacturers.
7. Attending a trade fair lets you focus completely on product research and development for 2 to 3 days..
8. Being at the trade fair, walking around the booths, talking to people, checking out the products, are a huge source of inspiration.
9. Building business relationships after the trade fair is much easier because the initial interactions getting to know each other are out of the way and you can get straight to business.
10. Suppliers and manufacturers will be much more open to talking to you via WeChat and Skype, and generally more generous with their time, because you've taken the time to meet and get to know them.

Helpful Resources

• For a full transcript of this interview, visit our blog.
• Get a free copy of our book, China Sourcing For Startups.
• Book A free 15-minute consultation with our team.

Subscribe To The Show On Your Favorite Podcast App

• Apple Podcasts
• Google Podcasts
• Spotify
• Breaker
• Castbox
• Overcast
• Pocket Casts
• Podbean
• Radio Public
• Stitcher

Follow Us On Social Media

• Facebook
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• Twitter
• LinkedIn