Michael Michelini is a reformed Wall St banker, who moved to China eight years ago and has never looked back.
Today, Mike is a very busy man. In addition to his two business podcasts, his show on Forbes Asia and his regular TV appearances, Mike runs a collection of China-based businesses.
On the side, he helps foreigners navigate a very complex China and Hong Kong regulatory business environment and set up more transparent, mutually beneficial, relationships with their factories.
IN THIS EPISODE, YOU'LL LEARN:
- How his one month business trip has turned into eight years so far.
- How he has progressed from using MySpace to source his customers.
- What are the biggest mistakes people make when doing business in China?
- How to build relationships and trust with Chinese partners.
- The differences in corporate culture between China and the West.
- How he employs staff in China.
- Why it's important to talk to the owner of your factory.
- How cheap it is do get your factory inspected by a third party company - without you needing to go there.
- How to know the factory you're dealing with is actually the one making your products.
- The importance of 'face' in China.
- How Chinese factories respond to 'ethical' initiatives.
- The value of an abundance mentality.
- The impact of the Chinese government's crackdown on corruption.
- What entrepreneurs can do to help the employees of their Chinese factories.
- Why it's important to know your product inside out.
LINKS AND RESOURCES MENTIONED IN THIS EPISODE:
- Destination China (and Mike's other book)
- Upwork
- Alibaba
- Article on Mattel lead paint scandal
- Article on Walmart in Bangladesh
- Wikipedia Article on Foxconn suicides
- Article on Chinese baby formula scandal
- Article on the Shanghai pig scandal
- The Fair Marketeers Ethical Business Challenge
Thanks for Listening!
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