Well, your timing may not be good, but then it is never good to strike out and set off to control your own destiny.
Have you had too much experiencing generating lots of sales and commissions for a company but hardly seeing any of it yourself?
Have you had too much of the fabled Japanese management style where no—one seems able to make a decision?Do you work for a Stalinesque type personality? It is either “my way or the highway?” How many times have we seen that kind of attitude to employees?
If you answer a yes to any of the above answers, then you’ve obviously thought about subject matter here. The good news is with the right idea and following some basic principles you may just succeed. Even better, it has never been easier to set up a company in Japan for a foreign resident. Actually that also applies for a Japanese citizen too, but, as a gaijin you almost face a level playing field. Almost because it may not seen that way.
The bad news, is that even in good times, 90% of start ups fail, usually within the first 3 years of establishment. What that statistic doesn’t tell you though, is how much money that the sponsor, or entrepreneur or group of investors lost. You have to also be realistic about your expectations. Failure is probably the best coach and I’ve done a lot of businesses in my time that never worked out. Of course in hindsight, it was obvious, but it isn’t really that obvious when you first embark on the First Company, or the corporate mission of mercy to independence, and for a long time it certainly won’t provide the road to financial independence or wealth.
So, have you a business plan? Serial entrepreneurs like the SOHO Samurai have had a lot of experience in writing business plans, and we have done excel till the blood clots in our eyes overheat and we have to switch the computer off. Things must have been easier in the old days when excel didn’t exist.
Is that a plan that actually works? Have you even done a financial model? If you are an expert in some arcane field, and know there is an unserviced market in some product or service, then I’d love to be in your shoes. If you are just going to start a bar, because you like to frequent bars, then hey, stop for a moment and find some advice from a good friend. Maybe you’ll do better than you think, but, remember that Tokyo / any other city here is full of bars, and every other day, another bar is closing down.
So, a few words of caution, now for the bit that everyone hates to do. Have you got a company formed? Who are the shareholders? Who controls the hanko? In Japan control of the hanko is the key to controlling the company.
Are your partners friends? This is not a good thing and many occasions, friendships get destroyed by working together as problems arise.
Are you registering a KK, or do you need something more complex? Do you have advisors that you actually understand? Or did you just walk into the first Shiho Shoshi office that your good friend could find for you?
Do you actually understand the corporate registration documents?
If you can answer all the above questions, then, maybe, just maybe you should proceed.
Good luck.
