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.
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.
Another tip is to be aware that English is still the language of business in Latin America, with an interpreter to help further would be better, although having a bilingual representative could be a plus. 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.
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.
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 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. 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.
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.