JACOBO WIGISSER
- vincent972
- Aug 9, 2015
- 2 min read
A Latin America and China Connexion
Jacobo Wigisser, GM at Truper Herramientas. Originally from Mexico.
How long have you been living in China?
I built up the business in 2005 and this is my 10th year.
What does your company do and what is your job?
We do sourcing and trading, mostly for Latin American companies.
I travel to meet suppliers most of the time.
We have about 50 suppliers. I work on all the projects so basically the workers know me very well!
What has greatly changed in the Chinese companies over the years?
First, everything changes rapidly in China. When I just arrived, the price was so low. Now, prices have greatly increased.
Second, the change of generation is the biggest change since I have arrived. Factories have changed a lot.
How do you negotiate with Chinese companies?
I am used to travel to factories.
In the past, it was rare to meet foreigners. Now, it is a common thing and Chinese are more used to negotiate directly with foreigners.
It was easier to do business in the past. Things got more complicated over the years.
What challenges do you face in your business?
In my business, they often try to lower the quality in order to get better margins.
What ‘golden rules’ would you give to people who start a business in China?
Be mindful about trusting people in business.
Make sure no one takes advantage of you.
What is the biggest mistake you made?
The biggest mistake I have made is to trust people too much!
Do you have competitions with other companies?
I own this company and provide services for my clients. I really have a lot of competitors. Even my closest friends are my competitors, but we share information and suppliers.
Do you think newcomers have to work really hard to face this competition?
It depends. If you are not starting up a huge company, it is more important to focus on a market opportunity and product quality.
What advice would you give to teenagers who want to start up a business in the future?
Teenagers should learn to speak Chinese. Now I wish I spoke Chinese better. Besides, I would think it is better to sell rather than import products to China.
The reason is that there is a large domestic market and lots of opportunities.
It is also essential to build good relationships. You need to have good connections with the police, lawyers, etc.
