Cannie Min: A first mover
Cannie Min recalls a time 11 years ago when there was only one private-sector Chinese language school in Delhi, which was Indian-owned. “The only true market is one in which there is no market,” says Min, who decided to take her chances in the “blue ocean” of the Indian market where there were very few other Taiwanese.
In her early years there, she was involved in the import‡export business while also teaching business-oriented Mandarin language classes. Two years in, she knew there was a market for her language venture, but it hadn’t taken off and she had burned through all of her capital.
A friend told her, “You’re already in this deep. Why not try a little longer?” Min thought it over, borrowed some money from her family, and gave herself two more years. During this period, she also founded a travel agency, Companion Travels, with an Indian partner.
It wasn’t until 2012 that Min had her own office and classroom. Before that, she taught all over, carrying her teaching materials with her. She didn’t even buy a suitcase until five years ago—she used to travel with just a backpack.
She downplays the hard times with an “I don’t remember,” and laughs that she had “countermoves” for all of the difficulties associated with starting a business in India. She’s also seen the changes in the country at first hand, noting that when she first arrived, the population skewed towards the top and bottom of the social ladder. A decade later, both the middle class and the consumer market have grown, validating her initial optimistic view of the market’s opportunities.
But even with Taiwan’s rollout of the New Southbound Policy, many Taiwanese businesses have hesitated to move into the huge Indian market, one in which Japanese and Korean businesses have been putting down roots for more than 30 years. Difficult though the market is, Min wonders why an entrepreneur with a good product would let a few hurdles keep them from pursuing opportunities there.
Min began returning to Taiwan in 2014 to share her story and experience with others, and to recruit Taiwanese interested in teaching Chinese in India. In 2016, she established FUCE Consulting to pass on her 11 years of experience in the country. Speaking as a fellow small business operator, Min urges Taiwanese companies not to try to go it alone because the market is just too big. Instead, she advises them to work together to develop production chains there.
India is a complex place that mixes tradition and modernity. Before you can even begin to meet the needs of its diverse market, you must first immerse yourself in the country.