Tips on Conducting a Successful Business and Investment 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.
Next is to realize that your representative will have to do everything he or she can to get to know the hosts in order to slowly build a relationship of trust, over being highly skilled or knowledgeable or competent in your area of business.
Thus there are some characteristics of a good representative that you should look for and develop. On the overall, look for a person who is flexible, very patient and most importantly, good with people in order to become your ideal representative.
By flexibility we mean one who is the type who can have fun in new experiences, who can be adventurous, and who can adapt to surroundings unfamiliar to him or her. The person must be willing to accept cultures foreign to him or her, available to travel on successive trips in order to seal a contract, and will act as the point person during the whole process, from the initial stage to closing the contract and then to continuously offer customer service afterwards when the business relationship has established.
Your representative should recognize that patience is a virtue, especially in Latin America the pace of life is slower considerably. Therefore, there must be an awareness by your representative that it will not be fast to develop relationships, and he or she has to do this with a genuine and personal disposition to develop the friendly relationship with the Latin American company.
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.