Opportunities Missed? The "Vision Thing" in Latin America

I had the opportunity to speak with an executive for a major IT systems company headquartered in the USA recently about Latin America. It was a very professional and pleasant conversation, between two people who know the region, speak the major languages and understand how much progress the territory has experienced in the past few years (and decades). The result of our conversation? A bit of sadness, a bit of frustration and a lot of head-shaking as to "why?"

What caused these reactions? After all, this was a conversation about a well-established company that has major activities in the USA, Europe, Asia and other parts of the world. This is a leader in serving customers with sophisticated and complex technology services, and doing so with a great deal of excellence, commitment and long-term staying power. Well, the reality is that somehow, the company is nearly uninvolved in Latin America.

To be fair, the firm does have some projects in the region, and has bought into some existing operations in different parts of Latin America. Nonetheless, when a particular deal came along that would have opened up new capabilities, delivered a strong client portfolio and was to be had at an attractive price, involving two of the most vibrant economies in South America, the judgement was made by a CFO to "kill the deal". The reason? It was in Latin America, plain and simple.

While this discussion went on to other elements about why Latin America is such a strong regional opportunity for high-tech firms (and many others), it remained on my mind, causing just a bit of consternation. After some thought, it seemed apparent to this writer, that the company in question simply has a problem with the "vision thing" (to paraphrase a recent leader of the free world and a leader of a major computing company known by its initials). Latin America is just a "rounding error" in the total numbers generated by this particular IT company. It's not a vital piece of future business, nor is it an essential element in the strategic growth of the organization --- yet. Could that be ready for a change or will this reticence continue and multiple opportunities be missed?

Evidently, at present, they just don't seem to register the phenomenal growth, quarter-to-quarter going on in Brazil, the excellent economic security that has been re-established in Colombia, the strong growth in Peru, the stable, steady-eddy performance in Chile, and even the re-bound in Caribbean nations, and yes, Mexico, too has begun to recover from its dose of swine and economic flu in the past two years.

A key question then, is what is the "vision thing" and what does it take to make a business sit up and take notice of Latin America? Well that's perhaps a post for another time on this same blog, but suffice it to mention that based on my many years of experience in the region, there is a lot of business to be found, profits to be generated, and plenty of customers (and partners) who will commit deeply and for the long-term to your business just as soon as you show your seriousness, commitment, persistence and willingness to work with the "locals". It's a matter of seeing the forest and the trees, or perhaps better said, having "vision" and being willing to use it to see the brilliant future in doing business in Latin America.

Want to learn more about doing business in Latin America? Contact me: DCabrera@TopExec.org

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Thanks for reading.

(c) Daniel A. Cabrera, TopExec.org, All rights reserved, 2010.