Things to Know When Doing Business in Latin America
Among the most critical decisions your company will make is in choosing the right person to represent you abroad, and this holds true if you are attempting to do business with Latin American partners. In order to help you be guided in selecting the point person to represent your company abroad, here are some ideas for you to read more so that you will learn and will avoid making mistakes about this decision.
The first thing to be aware of is how diverse the population of Latin Americans are thus you will not be discriminated or receive favoritism if your representative has a Hispanic name or background.
Your next guideline is to have a representative who is capable in the language of Latin America, aside from being able to conduct business dealings in English with the help of a reliable interpreter, considering this is actually the common practice in business there. Having a representative who has good conversational skills will help him or her communicate with the hosts that will further enhance friendship for your company.
On top of having a point person who is knowledgeable, highly skilled and competent, he or she must be able to get to know the hosts in order to foster the relationship between you and the Latin American company, and this is another important thing to bear in mind.
You should then be looking for some characteristics of a good representative that you can further develop in the person. So ideally, your company’s representative must be flexible, very patient and most of all a people person.
What we mean by being flexible is a representative who is the type to enjoy new experiences, who can be a bit adventurous, and who can adapt to surroundings not familiar to the person. Furthermore, the point person must be willing to embrace a culture that is foreign to him or her and learn to adapt various ways to get results, must be available to travel on many trips to get the business done, and eventually can offer continuously his or her customer services even after the business relationship has finalized.
Your representative should recognize that patience is a virtue, especially in Latin America the pace of life is slower considerably. Thus your representative will need a long time to develop relationships and he or she can do this with a genuine and personal friendly relationship with the Latin America team.
Know that Latin Americans appreciate intellectual conversations on broad range of topics, thus your point person must have the intellectualism to engage with the hosts in social situations, considering he or she will be spending lots of time with them.