Today, we’re diving into something crucial in the Japanese business world: Meishi Kokan (business card exchange) events. I’ll share my perspective on the pros and cons, specifically for you as foreign entrepreneurs because we joined an international networking event at Conrad Osaka.

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The Pros of Attending Meishi Kokan Events

First, let’s look at the potential benefits these events can bring to your business.

1. Building a High-Quality Network

Networking events hosted by foreign chambers of commerce in Japan are a goldmine for foreign entrepreneurs. At these events, you can meet fellow foreign entrepreneurs who are, like you, paving their way in Japan. Plus, you’ll connect with Japanese companies actively supporting foreign entrepreneurs. This is an excellent opportunity to find partners who have a deep understanding of different cultures and who might be genuinely interested in your business model.

2. Developing Relationships Beyond Business

Meishi Kokan events aren’t just for exchanging contact information. You can often deepen relationships with people you meet, perhaps by going out for meals or seeking personal advice later on. Having trustworthy friends and mentors is incredibly important for succeeding in business in Japan.

3. Accelerating Business Through Trust

When networking events are hosted by reputable organizations like chambers of commerce, participants feel a sense of security. This often leads to more than just formal greetings; it can quickly lead to concrete business discussions. Meeting through a commonly trusted platform can sometimes accelerate the formation of business partnerships faster than usual.

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The Cons of Attending Meishi Kokan Events

Now, let’s consider some drawbacks you should be aware of before attending. Understanding these points will help you maximize your event experience.

1. Time and Cost Investment

Many Meishi Kokan events have an admission fee, and when you factor in travel time to the venue, they can require a significant investment of both time and money. This investment can be substantial, especially for popular events or those held far away. When choosing which events to attend, you’ll need to carefully consider how well they align with your business goals.

2. Difficulty in Self-Promotion in Limited Time

At events with many attendees, the time you have to speak with each person is limited. It can be challenging to effectively promote yourself in a brief conversation, especially if your business is complex or requires time for others to understand its value. It’s crucial to prepare a concise and compelling “elevator pitch” beforehand.

3. The Importance and Effort of Follow-Up

Even if you collect many business cards at an event, that alone won’t lead to business. The key is follow-up after the event. This requires effort and time to maintain the relationship, whether it’s sending a follow-up email, scheduling another meeting, or providing more information. If you neglect this, the connections you’ve made might not materialize into anything. The challenge is figuring out how to conduct efficient and personalized follow-ups amidst your busy schedule.

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Meishi Kokan events can be a highly effective tool for foreign entrepreneurs operating in Japan. By understanding both the pros and cons, and by leveraging them wisely, you’re likely to encounter wonderful connections that will contribute to your business growth.