Tips on Conducting a Successful Business and Investment in Latin America
It is said that choosing the right person to represent your company abroad is one of the most crucial decisions you will make and this holds true if you are attempting to build a business relationship in Latin America. 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. If your representative has good conversational skills, it will be a plus factor for your company as this point person will be able to communicate well with the hosts and enhance good relationship with your company.
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.
You should then be looking for some characteristics of a good representative that you can further develop in the person. To become the company’s ideal representative, look for the person who is flexible, very patient, and good with people most importantly.
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. 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.