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. 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.
First of all is to realize that your representative may not necessarily need to have a Hispanic name and background because Latin Americans are a diverse population, and thus do not expect favoritism or discrimination if your point person does not have these qualifications.
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.
Another thing to learn is that beside being highly skilled, knowledgeable and competent in your area of business, your point person must be able to do everything first to get to know the hosts so that there is a slow but sure building of trust in the relationship.
Know then some characteristics of a good representative that you should look for and be able to develop further. To become the company’s ideal representative, look for the person who is flexible, very patient, and good with people most importantly.
By being a flexible representative, we mean someone who enjoys new experiences, who is a bit adventurous, and who is adaptable to surroundings not familiar to him or her. In addition, this representative must be willing to accept cultures not familiar with him or her, can travel on successive trips just to seal the agreement, and even after the business relationship has established, must be able to offer customer service continuously as long as needed.
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.