- The three keys to building trust with the Chinese.
(glasses clinking)
(electronic lounge music)
- So what are the keys to building trust with the Chinese?
- I think the first one is very easy,
just hang out with them, drinking and eating.
- Mmm, so drinking, I think drinking, eating.
I think Chinese, they don't like to do
very formal meetings.
They like to observe and kind of hang out
outside of the business environment.
To have a dinner or have a drink,
they like to get people drunk to see how you behave.
- They want to get to know the real you right away.
- Right away. - That's not
go to an office and put on a mask.
- Yeah, less to do with that.
- Just go and drink and see the real you.
- I think so, and they also always see that
when they pour a drink to you,
the more you drink, the more respect that you show.
- [Jennie] Yes.
- If they pour the drink and you don't drink all,
you know, that's not very polite.
Then it's like, "Can I trust this guy?
"How come he doesn't drink?"
It's a little bit of that, right?
- I think China, if you're late for the dinner,
you gotta drink three shots before everything starts.
- Yeah. - Yes.
- It's just like that. - Yeah, that's a rule.
- So if you're invested, they are inviting you to dinner
and drink, or you're inviting them
and they're saying yes, that's a good sign.
It means they are willing to spend time with you, right?
- For sure.
- From there, then you might even golf
or other activities, right?
They like to do that.
- 'Cause think, you always have
drinking and eating with your friends.
You wouldn't do with just normal people.
- So first key, I would say, hang out
outside of business environment.
When they do get into a boardroom, a meeting,
that's almost the deal is almost,
you're signing the deal.
That's not how business is done.
In North America it's different.
North America, we have a lot of meetings in the boardroom,
back and forth, back and forth, back and forth,
and then after we sign a deal,
then we go and celebrate.
This is the opposite of that.
- Yes.
- So the culture difference.
So that's key number one.
What's key number two?
- I think key number two is you gotta show
yourself, of your experience, your track record,
and what kind of things you've done before.
- So your track record.
Lead with your best foot forward
because they don't know you so then
don't be afraid to brag a little bit
and demonstrate and showcase your expertise,
your track record because they don't know you,
they don't know you enough.
If you have a...
You worked with certain people, talk about that.
If you have years of experience, talk about it.
If you have certain credibility or academic accomplishments,
definitely talk about... - That's no different
than doing business in North America, right?
You have to show people. - Right.
- And the Chinese love to work with people
who have a lot of achievements.
It's almost their own pride as well
that they can show off that, "Hey,
"I'm working with this so-and-so,
"He or she has amazing achievement."
- Yeah, "The guy that I'm working with is like this."
- Right. - Yeah.
That's part of that, too, is standards.
So that's key number two.
What about key number three?
- Key number three will be they want you
to invest in the business as well,
which is they want skin in the game.
- I think Chinese in general, if they're from China,
chances are they've been scammed, they've been lied to
one time or another, maybe every single day
that's what they have to deal with,
so when they come to North America, they have to...
They're very skeptical.
They don't trust people.
So if you're pitching them, say an investment deal,
you could talk, "Oh, it's such a great investment!
"You get a good return, this and that."
If you're just a salesperson,
and you just make a commission,
they almost look down on you, right?
But if you say, "It's a good investment,
"but I've got skin in the game.
"I'm putting in money," then the trust
is now the trust you want because, "Oh,
"you've got skin in the game too."
They want to see that.
- I think Chinese will also wanna ask,
if you didn't say this, they will ask,
"So, did you invest in this deal?"
- Yeah, if you're pitching me a gold mine deal,
"Oh, it's such a good gold mine and this."
"Well, have you put money into it?"
And so I'll buy, I don't have money to put in.
Well then it's like, "Okay."
They don't like to play with people who
are just like not at their level.
- Exactly, they want to play with just the players.
- Even though maybe you have...
You don't have as much money as they have,
but they want to see you took a certain amount of risk.
Let's say they have ten million.
They're putting in one million.
You have 100K and you put in 10K.
They still want to see a little bit of that
and it gives them comfort, right?
So assuming that they're skeptical,
assuming that they don't trust you.
You gotta start with that.
Don't assume that they trust you.
No, they don't trust you, they don't know who you are.
Demonstrate, show your track record.
Definitely show that you know what you're doing.
Definitely show that you got skin in the game.
And then definitely show that you're willing
to invest the time to establish relationship.
Relationship comes first, so don't try to do
the business too quick 'cause if they don't know you,
they're skeptical, when you try to push them too fast,
too quick, they feel like, "Oh, is there something wrong?
"Can I trust this person I don't know?"
So that's a long process, knowing it's not so quick.
Let me give you maybe a bonus tip
of how you accelerate that process, right?
And you can also click on the eye button here.
You will see in the past video we talked about
just how they think and generally
how they view a new relationship
when they're doing business in North America.
You can click it up on the eye button.
A bonus tip is very simple.
Instead of you trying to approach them cold,
so if you want to approach this person,
a boss or a CEO, a wealthy individual, whatever,
instead of you trying to knock on their door
and cold call, whatever,
see if you can find someone that know them personally,
that they're personal friends.
You get to know that person first,
and have them make the introduction.
That will short cut the process a lot,
because Chinese so much about relationship,
so if it's a...
You're brought in kind of their circle
through a friend, it's much easier.
It's 10 times easier versus, "Hey,
"I wanna do business with you.
"I wanna sell something," whatever.
But instead of, hey, you guys go fishing
or hiking and brought a friend along.
You guys talk about things and, "Oh, what do you do?"
And you just kind of a soft intro,
I think that works much easier.
Now it might seem like it's a longer path,
like you want to go point A, point B,
why do I need to make this such a big circle to that?
But in a way, it actually saves you a lot of time.
You need to do that, and if you actually know
a couple people around the main person,
this person introduce you, that person recommends you,
now it's even much easier, right?
Yeah, I would say that's the key.
So that's the three keys to building trust with the Chinese.
There are many other keys we will share
with you in the future.
Comment below, see what other questions
that you might have, ask us.
What's been your experience?
How do you build relationship with the Chinese?
Maybe you know something that we don't, right?
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Cheers. - Cheers.
(glasses clinking)