Have you had a trusted contact in China for many years who has helped you locally, opened many doors and always given you good advice? If he or she retires, this can have a direct impact on previous business relationships and therefore on your business – depending on how well prepared a successor is. In other words, if you already have a successor in mind … Things you should think about in good time to safeguard your business contacts:

1. Timely communication: Make sure that the retirement of your contact person is announced well in advance. Above all, this will allow you to plan and prepare in good time.

2. Succession planning: It is important to identify a suitable successor, introduce them in good time and familiarise them with all relevant parties.

3. Transition planning: There should be a clear plan for the transition, including details of tasks, responsibilities and timetables. It is also advisable that the successor is introduced during the active time of the current contact person. This will ensure a smooth transition.

4. Knowledge transfer: Important knowledge and experience of the previous contact person should be documented and passed on to the successor.

5. Maintaining relationships: It is crucial to maintain and develop relationships with Chinese partners. The new contact should have the opportunity to build personal relationships with these partners.

6. Contract review: It is advisable to review all existing contracts and agreements to clarify whether adjustments are necessary due to the change.

7. Cultural sensitivity: The new contact should be able to communicate and negotiate effectively.

8. Risk management: Any risks that could arise from the change should be identified at an early stage and appropriate measures planned.

9. Business strategy review: Take the opportunity to review the current business strategy and adjust it if necessary.

Such a change is generally a good opportunity to rethink and possibly improve the business relationship. The new contact is likely to bring new ideas and perspectives. It is advisable to communicate openly about this and ensure that all parties are in the picture… Take your time and plan long-term and in detail. 

So much for a rough overview – feel free to contact me if you have any questions.