Brits Get Rich in China: Part 2

Wednesday, October 10, 2007 10:49
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Part 2 jumps straight into the action with Vance making an inspection of product. while Vance is a real A$#hole and I am not a fan of his attitude, I must say that it is clear that Vance’s experience in doing business in China has taught him that onsite inspections are the only way to go… and that when possible, one must buy a quarry to get things done right…

Following his purchase of a quarry, we ride along with a singing Vance through as he drives through toilet bowl city and tap fixture city to meet his man on the ground (Black Horse) who will apparently undercut anyone. This section is interesting is topped off when Vance feels a piece is too expensive and to bring the pricing down he strips the product down into pieces and then deconstructs the pricing piece by piece.. and saves 40%…

Before he leaves though, he gets Black Horse to copy a product sold in Europe, and explains how he (read others) get around IP – just gotta change it a little bit.

Cut to Peter in HK getting a hand mate suit and making his first pitch in his new suit.

Best quotes of the segment:
Vance (edited)- “The think I have cruised in off the banana boat that has just strolled out me 5 star hotel with a hangover. the last thing I want to be doing is strolling around the old dirty yard in my Armani suit and Gucci shoes”

Peter – “To be born British is to win the first prize in the lottery of life” – something I am sure all his customers would agree to..

Color Commentary:
A lack of moral fiber aside, Vance has all the makings for a successful buyer. While perhaps a bit rough around the edges, he takes no one at their word until he sees the product for himself, he waits the other side out, he looks at things closely, and in negotiations he bargains on individual product costs.

Peter on the other hand is in la la land and is probably going to have a tough time seeing his customer with his nose so high in the air. Risking everything at the age of 70 on a new product and new country with a trophy in hand just smells of disaster. At this point, I am betting he finds someone to partner with who is shady, and who he trusts wholly cause desperation will blind him from logic. It is still early in the game, but I am not holding high hopes for Peter

Part 3 on Friday

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