If you asked 100 companies to rank the most challenging countries to enter, Japan would rank at or near the top on most every list. Not only does Japan have very high bar and specific set of localization requirements, nearly every aspect of doing business is different than in the US and most western markets. That said, Japan is the 3rd largest economy in the world, so it cannot be ignored by any company with global ambitions, and there are many success stories to learn from. In this episode, I’m honored to have Daiki Nakajima as my guest. Daiki is the Director of Business Development at the Japan External Trade organization, shortened to JETRO, whose main objective is to provide support for bilateral investment between the USA and Japan. Daiki oversees all activities of Invest Japan, Japan-US Bilateral Economic Relationships, Startup Initiative, and Global Acceleration Hub at JETRO in New York. When it comes to foreign tech companies entering Japan and vice versa, in the words of a mutual colleague at Hubspot, Daiki “has seen it all” over the past 12 years. Please enjoy and share. Here's what we cover: 4:00 Daiki's bi-cultural background, what led him to focus on Japan-US trade 6:00 Japan External Trade Organization - overview of how JETRO and how they help foreign companies enter Japan 11:00 Things you need to know and consider before you begin working on Japan market entry, pre-reqs for entry 18:00 Differences in marketing style and the research needed to adapt your marketing strategy 22:00 Beyond website and UX, the things that require localization 23:45 Differences in presentation styles, pitching properly in Japan 27:00 How meetings work in Japan - matching seniority levels, formality at mid-size companies, knowing how to interpret signals, expectations around timing and follow ups 33:30 Aligning with fiscal cycles and budgeting seasonality 36:00 How to gain trust, early traction, case studies, and retention when you are a newcomer. Value propositions that resonate with Japanese buyers. 45:00 Common traits among companies that have done well in Japan - the importance of persistence, having strong presence on the ground, meeting face to face, and more. 50:00 The hiring process and cycle for new grads, and the only time of year you will find a new hire. 56:30 What Japanese customers expect after the sale. The importance of excellent customer service and making a good first impression in terms of the product, translation, and overall experience. 1:01 What's changed in Japan since COVID. How policy drives rapid change within the business environment. 1:08 The emerging "global generation", how this generation is shifting the way business works, and applying these learnings to your Japan entry strategy.
