Things to Know When Doing Business in Latin America
Considered as one of the most crucial decisions your company will make in attempting to build business relationship abroad is that of choosing the right person to represent your company, and this is true as far as with Latin America is concern. 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 number one thing to know is that Latin Americans are a diverse population, thus you have to realize that your representative does not necessarily need to have a Hispanic name and background, because you will not encounter favoritism or discrimination in this regard.
The number two suggestion is to have a representative who can speak and understand both English and language in Latin America, so you have a plus factor together with the fact also that English is also used as the language of business, with an interpreter as an added help. Note that the friendship and business relationship with the Latin American company will further be improved if your point person has good conversational skills since he or she would be able to communicate well with the hosts.
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.
You should then be looking for some characteristics of a good representative that you can further develop in the person. 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.
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. 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.
In Latin America, the pace of life is observed to be considerably slower, thus your representative must have the patience as a virtue. 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.
Be aware that intellectualism is being admired as a quality among Latin Americans, thus your representative must be able to carry on conversations on a wide range of topics when engaging with the hosts during social situations especially lots of time will be spent with the hosts.