Things to Know When Doing Business 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 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. 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.
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.
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. Furthermore, the point person must be willing to embrace a culture that is foreign to him or her and learn to adapt various ways to get results, must be available to travel on many trips to get the business done, and eventually can offer continuously his or her customer services even after the business relationship has finalized.
Your representative should recognize that patience is a virtue, especially in Latin America the pace of life is slower considerably. Being genuine and personal in the business dealings will have to be a trait of your representative, with the expectation of developing a long-time relationship with the Latin American company.
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.