“If you’re going into the Chinese market, it’s best to understand what the Chinese are actually thinking. They are not always so straight forward. ” Michael MacRitchie sits down with Steve Wyatt, a joint venture, marketing and east-west business development executive with nearly two decades of experience in Asia to talk about the mental side of business in China. Steve discusses how many companies coming into China are still making major mistakes as they try to harness the “Niagara Falls” of money that this market represents. What’s the number one mistake? According to Steve, many business developers, negotiators and entrepreneurs are still failing to understand how their Chinese partner is thinking about the business. Want to hear more insights from the “James Bond of China consultants”? Watch the video to find out.

Steve Wyatt’s career in Asia was born through the research work he conducted in over 50 companies for his Cambridge University Master’s thesis “East West Joint Ventures”, which completed in 1989. This launched a career as a consultant with the leading business strategy firm Monitor Group, founded by Michael Porter. Steve was initially based in Europe, working from the company’s Italian office and developing an appreciation of luxury and consumer brands before moving to Hong Kong in 1994 to establish a new office. From 1997 to 2000 Steve took on the challenges of restructuring operations and driving changes in market positioning from inside a corporation rather than as a consultant as Director of Marketing & Business Development (Asia-Pacific) for Ingersoll-Rand. In 2000 he returned to Monitor and was elected a global partner (Global Leader), leading the practice areas of luxury goods and media as well as supporting FMCG clients; his particular strengths being marketing strategies and sales organizations. In 2007 Steve joined the network of companies owned by his wife’s family (Hussars) based in Shanghai as Managing Director. The main businesses of the group are centered on connecting luxury lifestyle products and services with affluent and super-affluent customers in China; the business include sports and event marketing, a private club manor-house, a polo (and race) club, a magazine, a food importer and a fashion design house. Steve maintains a hand in consulting as well as several directorships and occasional appearances as a guest lecturer to MBA students; his areas of expertise remain luxury goods and lifestyle services, marketing strategy and sales organizations, with particular insight and direct personal experience engaging affluent and high-net worth consumers in China.