Tips on Conducting a Successful Business and Investment 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. We are going to present here some suggestions, and if you read more, you will be helped to learn and be guided more about your options in choosing this point person to travel abroad and represent your company.
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.
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. 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.
Thus there are some characteristics of a good representative that you should look for and develop. 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. 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.
In Latin America, it is an admirable quality for a person to have the intellect to carry on long conversations on various range of topics, thus your representative must have this quality especially he or she will be spending lots of time with the hosts there.