Personal Relationships and Business

On a recent radio "article" on NPR, (National Public Radio), the topic was about doing business in Iraq, and all the billions of dollars and euros that are being earned by companies from around the world, mostly non-American corporations. The basis of their earning this business and these revenues? Their willingness to establish themselves, on a personal relationship basis, with the ministries and departments within the Iraqi government, to earn the right to compete for contracts, projects and other investments planned for 2009 and beyond. To paraphrase one commentater: the Westerners are only interested in getting the job done, getting the answer quickly and moving on. The others are willing to stick around and build up the trust and involvement required by these consumers (government or otherwise) even if that means spending a lot more time and effort.

This brought to mind the very real circumstances that exist today in Latin America. It is not simply a matter of having an American executive open up his/her rolodex and start making calls to garner business in the region. Likewise, it's not an effective strategy to drop in for a once-in-awhile meeting or sales call with prospective customers (private sector or government) and expect that meeting or that call to create the necessary elements to winning any substantial business.

Just as in the Middle East, and Asia and most of the world, consumers (executives, corporations, small and medium businesspeople, etc.) are going to insist on establishing with you, your company and your offerings a working, personal relationship. As a friend of mine from Argentina said to me recently, "No one wants to do business with someone who is not committed to the relationship." So, a glad-handing representative from anywhere (even within Latin America) will likely fail to win the business by seeking the quick, easy path to success. Instead, it takes time, effort, actions, investments and a lot of commitment on the part of anyone or any company that wants to earn the right to provide service, products or solutions to customers in Latin America.

Don't believe me? Ask a Latin American what they look for most in a vendor or supplier relationship. Better yet, ask yourself if you're using a long-term approach to building credibility and thus positioning yourself and your company's offerings to best serve the needs and potential wants of your prospective customers in the region. By doing so appropriately, you'll find that success comes to you much more completely, and for the long-term, rather than quickly.

For more information on doing business in Latin America and the world, see:

www.TopExec.org

Thanks for reading, and see you next time.

© Daniel A. Cabrera, TopExec.org, All rights reserved, 2008.