Last updated on 2014-01-01
About the Book
Mongolia is a true frontier for the adventurous entrepreneur. It’s advancing rapidly in Ulaanbaatar, but it still holds onto its nomadic roots. This division in the culture can cause unique opportunities for foreign entrepreneurs.
If you’ve been thinking about starting a business in Mongolia, the Wood Egg Mongolia startup guide will be your go-to reference manual.
Each year we hire 3 researchers (at least one local and one foreigner who live in Mongolia), a native English-speaking in-country writer, and an editor, to bring you insights from multiple perspectives.
Our researchers spend over 200 hours interviewing local business people, politicians, and citizens who regular foreigners would never have access to. This is 200+ hours you will save to hit the ground running. (Bonus: When you register your eBook at WoodEgg.com you get access to all of our raw research and interviews.)
In the 2014 Wood Egg Mongolia startup guide you will learn:
What the “work hard party hard” culture means to your business. (Page 31)
Although you will always stick out, why it’s best to blend into the business community. (Page 63)
Where to find short and long term rental properties (including websites). (Page 88)
What the lack of long-term planning among the business community means to you. (Page 118)
How to navigate the business hierarchy in Mongolia. (Page 128)
The biggest advantage foreigners have over locals when conducting business. (Page 152)
Why you don’t need a local partner to establish a business (and why you might want one). (Page 171)
Our top 3 local accountants who work with foreign entrepreneurs. (Page 198)
The top recruiting agencies to use if you’re looking to find (and keep) top talent in Mongolia. (Page 210)
All foreigners must comply with this to open a bank account in Mongolia. (Page 232)
The best industries for foreigners with room for growth. (Page 246)
Don’t spend more than this amount (or break this law) when advertising in Mongolia. (Page 254)
All of this along with hundreds of other insights. All told you’ll get the painstakingly researched answers to over 200 questions (over 250 pages!) about country, culture, life, and business in Mongolia.
If you’re looking to do business in Mongolia you won’t find a more complete, up-to-date, guide.
Click to buy now.
- Near-future outlook
- Current stats
- Quick history as it affects current business environment
- Relationship with other countries
- Religion and Race
- Asia 101
- Local differences
- Personal attitudes towards foreigners
- What to wear
- Attitude towards time and promises
- Common conversational references
- How to blend in
- When not to blend in
- Recommended reading/watching
- Quality of life
- Cost of living
- Western standards vs local standards
- Language / English proficiency
- Immigration / Visa
- Where to live (short-term and long-term)
- Typical living arrangements
- Internet / Phone
- Credit card? Cash? Check?
- Availability of products/services
- What’s not online
- Differences in service standards
- Expat community
- Recommended resources
- Business Culture
- Understanding “face”
- Direct vs indirect communication
- How to tell “yes” from “no”
- Who to speak with in organizations
- Business attitudes towards foreigners
- Signals of respect
- How to build trust
- Business cards
- Signaling success
- Innovation vs status quo
- Passing-through vs Full-time
- Advantages to foreigners
- Advantages to locals
- General role of government
- Who’s who: departments you need to know
- What the government is emphasizing now
- Business Setup
- Ease of doing business
- Local partners?
- Business structure choice
- Business name choice
- Where to locate
- Real estate
- Big city vs outlying areas
- What your location says about your business
- Paying taxes
- Ongoing requirements
- Recommended resources
- Local talent strengths
- Hiring local people
- How much to pay?
- How to find good people?
- Online vs offline
- Hiring foreign people
- Step-by-step process
- Labor laws
- Recommended resources
- Banking overview
- Bank comparison
- How to open an account
- Online banking
- Paying employees
- Paying vendors
- Getting a bank loan
- Getting investors
- What if they don’t pay?
- Industry sectors
- What’s missing?
- What’s unique?
- Growing the Business
- Expanding outside the country
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