Problems Ahead of the Growth of a Technology Company in Hong Kong

Coming up with a new business idea is never going to be enough. Your idea may well be the next big thing in the information technology industry in Hong Kong or even globally, but you will need way more to make it through to produce a product and selling your product.

  • Find a co-founder to be your long term business partners. When you are based in Hong Kong, ideally you should look for someone locally.
  • Identify the skills (in people) that your business needs.
  • Find and rent an office space in a relatively inexpensive area in Hong Kong for the next employees you are going to hire in the next 6 months.
  • Get the paperwork of company formation completed with Hong Kong Companies Registry in HK.
  • Once you have your company registered legally as an entity in Hong Kong, you will start seeking potential angel investors.
  • Create a business proposal for any investors who are interested in your business and ideas.

Ahead of you while you are trying to make sense of and grow your Hong Kong company in your daily operation, you will face a lot of problems. The problems would never come one after one systematically, but will only come randomly.

  • Financial issue: Your business will need capital to expand. On the way growing, you will have to proactively look for potential investors.
  • Business model: When your business model is right, there is always a way to charge for money from the product or service you’re providing to your users and/or customers.
  • Product development: You and your tech development team may hit a few brick walls on the way to develop the actual product.
  • Branding and positioning: For a startup company, branding may be really difficult. But it will go into a straight road when you keep doing it. Positioning of your product should come along. When positioning higher, your product may be sold for more profit, and at the same time you must make sure your product is developed better than your competitors.
  • Regulations: Depending on the type of product you are developing, government may have regulations that your business must meet.
  • User demand: When you have made your decisions right in the beginning, your product should have a user base size that is viable for your product to have sufficient market share. This sufficient market share is important for the potential growth of your business and product.
  • Sales and marketing: Even when you have a great product, you will still have to be able to sell it and preferably in volume to your customers. The money received from selling your product is going to support your business in long term.
  • Price competition: The race to the lowest price would never end. Your major competitors may reduce the pricing of their product which is similar to your main product. Going into a price war is never ideal, but in many cases it is not avoidable.
  • Reputation and customer retention: Growing your company reputation is important, and it may be done through providing great customer services.
  • Employee performance and productivity: Your new staffs may be fresh and feel like to work fast in the beginning. But their passion or work rate may wear off as time goes by. This may negatively affect productivity. It is important to regularly monitor the performance of your employees to ensure relatively higher productivity.

5 Comments

  • ¿Necesita urgentemente un préstamo en efectivo? Consulte préstamos grandes y pequeños en línea y obtenga un préstamo rápido para aquellos que están endeudados y más.

  • Thanks for your entire labor on this web site. My mother take interest in participating in research and it is simple to grasp why. My spouse and i notice all regarding the powerful tactic you produce useful thoughts via your website and in addition recommend response from the others on this subject then our own princess is truly studying a whole lot. Take pleasure in the rest of the year. You have been performing a terrific job.

  • My husband and i felt now fortunate Emmanuel could conclude his investigation from your ideas he gained in your site. It’s not at all simplistic just to choose to be giving for free information that most people have been making money from. And we all do understand we have the website owner to be grateful to because of that. The explanations you’ve made, the easy site menu, the friendships you can give support to engender – it’s everything extraordinary, and it’s facilitating our son and our family feel that that idea is enjoyable, and that is highly important. Many thanks for all the pieces!

  • I’m commenting to let you be aware of of the beneficial discovery my child developed browsing the blog. She came to find a lot of details, including how it is like to have a great coaching character to make the rest without problems understand various very confusing topics. You undoubtedly surpassed visitors’ expected results. Thanks for supplying those warm and friendly, trustworthy, revealing not to mention unique tips on your topic to Tanya.

  • My wife and i were very thrilled when Raymond managed to round up his web research with the precious recommendations he was given while using the weblog. It is now and again perplexing to simply possibly be releasing tips and tricks which usually the rest might have been trying to sell. We really understand we now have you to thank for this. Those illustrations you made, the straightforward website navigation, the relationships your site make it possible to promote – it is mostly wonderful, and it is making our son in addition to us understand this topic is thrilling, which is certainly wonderfully vital. Thanks for the whole thing!

Leave a Reply

Your email address will not be published. Required fields are marked *