Tips on Conducting a Successful Business and Investment 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.
Your next guideline is to have a representative who is capable in the language of Latin America, aside from being able to conduct business dealings in English with the help of a reliable interpreter, considering this is actually the common practice in business there. 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.
Thus there are some characteristics of a good representative that you should look for and develop. 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 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. 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 point person must have the virtue of patience especially that the pace of life in Latin America is considerably slower. 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.