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"In general, Latin Americans are known for arriving late at meetings. Latin Americans do not usually bother to call or send a text if they are going to be late. They assume you'll be late too." |
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Blogs from Abroad – Latin America BUSINESS IN LATIN AMERICA: PREPARE YOUR APPETITE, YOUR PATIENCE AND GOOD SENSE OF HUMOR.
I love to write about the way we do business in Latin America, especially because there's no one Latin America but as many Latin Americas as countries in this beautiful region. I chose some friends with whom I network, who live and work in different countries in this region, and asked them one simple question: What does someone coming to do business in your country need to know?
They all agreed on one thing: Bring your patience to Latin America!
In general, Latin Americans are known for arriving late at meetings. Except for Chile and Costa Rica (where schedules are very much respected), Latin Americans do not usually bother to call or send a text if they are going to be late. They assume you'll be late too. And not only that. If you are arriving at your clients' office in Latin America, you may well be left to wait around 20 or 30 minutes before you are invited to come in to a meeting. So it is important, always, to confirm and reconfirm your appointments at least seven days in advance. And you probably want to make a call the same day, just to make sure everyone remembers the appointment.
Latin Americans love to chat for a long while before starting to actually "talk" about business. Personal relationships are really important for Latin Americans, and you may find yourself chatting about children, sports (mainly soccer in South America and baseball in Central America), culture, food and wines (in Chile and Argentina) for a long time. It may even take you several meetings before actually starting to talk about an agreement.
In Mexico and Panama, working breakfasts are very common. These are meetings that start around 8 a.m. and can last for a couple of hours. Lunches in top restaurants are very common in all of Latin America, and they are the preferred way of starting a business relationship.
Meetings in Latin America tend to last longer than in the U.S., where you tend to get to the point. Do not force any situation, because usually the pace of business in the region is slower, and you will want to dedicate as much time as needed to create a strong "bond" with your Latin partner or client. Latinos usually need several meetings to make deals.
The first time you arrive at your client's office in Latin America, you may find a troop of people from different departments attending the meeting too. This is because, even if decisions are taken at the highest level, executives will want everyone in her team and other teams to know you – and then send her an impression about you. So make sure that whatever your speech is, you bring enough energy and data to answer questions ranging from technical to environmental issues.
Depending on the country you visit, you may want to avoid sensitive topics such as politics (in Venezuela) or immigration (in Mexico). If you are fluent in Spanish, read local papers at least a month in advance so you have the latest news and developments of the country you are visiting. If you are not fluent in Spanish, read local news in English. The local chapters of the American Chamber of Commerce in every Latin city are the best source of information for Americans traveling to the region.
Your business presentations, brochures and business cards will have to be translated. Businesspeople coming to Latin America usually use two-face business cards: one side in English and the reverse with all the contact information in Spanish. Be sure to present your business card in every introduction.
Women's presence in business and executive positions in Latin America is definitely not the rule. Depending in which industry you work, you'll find your counterparts in Latin America are mostly men. This is more evident in Mexico, Brazil, Chile and Central America, and less in Venezuela, Argentina and Panama. Expect men to be polite and escort you to your chair (in restaurants and meeting rooms).
When packing your clothes, remember to include business casual and business formal attires. A cocktail dress is also an intelligent choice. If you are visiting several Latin cities in the same trip, remember to check the weather forecast before you take the plane. We have several weather conditions in the region, so even if it is summer in the U.S., there's very cold weather in Argentina, Chile, south of Brazil and mostly all of the South Cone. Central America and the northern countries of South America are very hot in July and August (like Miami).
Latin America is very competitive for business and investments at the moment. Entertainment, technology and software, food and basic industries are among the top sectors. But you should consider committing long-term resources and time when coming to Latin America. A budget should include multiple trips to the region and intensive contacts with clients and partners. Also, consider bringing your partners and clients to your headquarters and offices in the U.S.
Special thanks to Rosana Chama, a Panamanian real estate professional, for her collaboration in this article.
Lara Bersano is president of communication strategies at Grupo Empresarios. She is a public relations specialist with extensive experience in international business between the Americas. To comment on this blog, e-mail blog@pinkmagazine.com and enter "Latin America" in the subject line. . . . . . . . . . .
LATIN AMERICAN WOMEN AND BUSINESS: THREE MASTER OPINIONS ON HOW WE BALANCE FAMILY AND WORK Posted on June 6, 2008
I had the chance to travel back and forth from Miami, New York and Atlanta to Argentina during the last few months, and I realized during every trip I made that Latino women have many things in common when it comes to doing business and balancing private and public life.
So for this month's blog, I thought it would be interesting to share the thoughts of talented businesswomen I met during these past months.
I compiled the answers to questions I posted to each of them, and the summary of our conversation is edited in this post.
My friends include Olga M. Ramudo, president and CEO of Express Travel, one of the most professional and savvy travel agencies of south Florida; Alejandra Collarte, director of international and corporate affairs, information technology, at the University of Miami; and Barbarella Diaz, corporate sales, Diaz Foods and The Diaz Group.
Do you do business with Latin America? How is it different from doing business with American companies?
Olga: Hispanics tend to book later, are quite savvy in "wheeling and dealing" and are more demanding. Doing business with Latinos is more relationship-driven and personal than with American companies.
Alejandra: Although they do have a different pace, Latin Americans are all about relationships. I like spending time getting to knowing the people I do business with.
Barbarella: We import a great deal of product from Mexico and Central and South America. One of the most significant differences is that we do business with many family-owned companies, and we deal with the family members directly. It becomes a lasting relationship where we consider these people both friends and business associates. Another positive aspect is that they understand the challenges and opportunities that we as distributors face.
What do you consider to be the most important characteristics of the way Latinas do business?
Olga: The majority of the staff of Express Travel (or 98 percent) are Hispanic women. Latinas work hard to please the customer and tend to go the extra mile. They are friendly, and as the years go by, personal relationships are built.
Alejandra: I am involved in many associations, where I work with professional Latina women. Many of them have excelled in their industries and dedicate (just like me) a lot of their personal time to volunteer work in the community. Some of the associations we are involved in also promote business development with Latin America, and for us that is extremely important, because it is a way to connect ourselves and the members of our community to our roots and our culture.
Barbarella: Most of the women I work with every day have families. They are juggling their kids' activities and their own while trying to maintain traditional Latina values in their home. As a Latina, some of the most important things are to be passionate about what you do, be honest, stand up for yourself and to always do the right thing.
How do you balance work and family life?
Olga: Family is the most important thing in my life. I chose to be a stay-at-home mom until my youngest son was 12 years old. They are now two grown men. However, when a decision needs to be made regarding work or family (including sons, nieces, nephews, godchildren, etc.), family does prevail. Positions, jobs and businesses come and go. Family stays with you forever.
Alejandra: I started my own business when my oldest daughter was 3 years old and began kindergarten. Then I continued working all through my second pregnancy. I had my second child on a Friday and was back home on Monday. I strongly believe that when you make a commitment to run a business, you need to deliver. And there is no excuse; you have to do it. Therefore, I had every call transferred to my home for three weeks so I could stay at home with the baby. And my staff would bring all the documents for me to sign. The rest I was able to control remotely and executed all of my contracts without anyone realizing I was not sitting in front of a desk. After the third week the baby and I started going to the office every day. I did that for the next 10 months. By the third month I had hired a nanny.
It was not easy and it took a lot of willpower to do both, but I felt that it was the right thing to do, and I was able to keep both home and business together. Now I look back and realize it was worth it. I have two beautiful, intelligent and independent young daughters who know how important it is to have something of their own. Children grow very fast, husbands always have their own activities outside the house and women end up living everyone else's life but their own, and then they stay at home by themselves with nothing. Having your own dreams makes you have hope in the future and gives you the vitality you need to get up every morning to live a day full of new experiences. That definitely keeps you young at heart.
Barbarella: It is often hard to balance these two aspects of everyday life, but thankfully I have a wonderful and understanding boss – my husband. Because we are a family-owned company, we have flexibility and I am sometimes able to bring the kids to work. That is something I am so thankful for. It took me a while to realize this, but now when I work, I focus entirely on the business and what I need to get done so that when I'm home, my full attention is on the kids and spending quality time with them. The work will always be there, so you just need to have to be good at managing your time. Just last week I had to cancel a trip to visit our most important and largest customer because my daughter, who just started school, had an event that I wouldn't miss for the world.
What's the best advice you have for PINK readers?
Olga: Move forward, and don't be afraid. Go with your gut feelings.
Alejandra: Never ever give up on your dreams.
Barbarella: Never let other people say it can't be done. Believe in yourself and just do it!
Lara Bersano is president of communication strategies at Grupo Empresarios. She is a public relations specialist with extensive experience in international business between the Americas. To comment on this blog, e-mail blog@pinkmagazine.com and enter "Latin America" in the subject line. . . . . . . . . . .
WOMEN-POWER IN ARGENTINAPosted on March 31, 2008
Does the way in which we do business change when a woman is president of a country? Argentina is an example of a place where things are changing for women entrepreneurs and executives. Why? In part because the first lady of the country, Sen. Cristina Fernandez, became president of the nation last December.
Cristina Fernandez's tremendous willpower and her husband's political structure (she was married to former President Néstor Kirchner) facilitated her access to power in an unprecedented election for a woman. On November 2007 she became the first president-elect to rule Argentina ever – and the first woman to succeed her own husband in power, making them the first presidential couple to hold power in two consecutive terms.
Kirchner is the second woman to be elected leader of a South American nation. Michelle Bachelet became Chile's president in 2006.
President Fernandez de Kirchner, 55, studied law at the Public University of La Plata and is the mother of two sons. Previous to her tenure as president, she was a senator from Buenos Aires State – Argentina's biggest state.
In her acceptance speech, Fernandez de Kirchner declared she felt not only a responsibility to lead her country, but also "an immense responsibility for my gender." And she already has shown some changes in the way she leads: 30 percent of the cabinet members she appointed are women, including the Defense Secretary Nilda Garré.
President Fernandez de Kirchner has made an emphasis on changing Argentina's situation in the international context, and this is reshaping the nation's position as one of the world's export leaders in primary and value-added goods.
The economic figures are very optimistic. The GDP grew by 8.7 percent during the second quarter of 2007. The unemployment rate is currently 8.5 percent, and the poverty rate has been drastically reduced.
Argentina ranks sixth among nations with the most individual entrepreneurs, according to 2007 figures from the Global Entrepreneurship Monitor (the top five are the United States, Israel, Ireland, Canada and China). People are creating more companies than ever and investing their own capital to produce value-added products – most of them to satisfy domestic demand. The combination of a positive economic situation and a leader who has taken her position in the international arena has created a promising future and competitive advantages for those willing to invest in goods and services that can easily find demand in different markets worldwide.
The nation's economic "bonanza" is backing her endeavour. Since her husband's arrival at "Casa Rosada" – Argentina's presidential palace – the nation has grown at an average 8 percent per year. Soybeans, corn and meat export prices have increased exponentially, and unemployment has dropped. On the other hand, inflation is still a big concern for Argentina's consumers, and the lack of energy is a headache for Argentina's growing industries. Asked about the population's worries, people respond that corruption and public insecurity are still among their biggest concerns.
For the small and medium companies that have survived the turbulent years of crisis and deficit that affected Argentina's economy from 1998 to 2002, this seems to be a promising era. Primary goods and elaborated goods (specifically food, wines, leathers, high-end products and technology) are slowly but firmly wining markets around the world, thus providing the necessary funds to finance the growth of these companies. The counterpart of this promising scenario is that companies face very heavy fiscal pressure, and the public services and infrastructure they receive are very regular in the country.
It will be very interesting to see which way she leads the country and how she combines the various roles that a woman plays in life – being in a critical yet unique position to change people's lives.
I found an interesting phrase that may define the mystique that will surround President Fernandez's office. In an interview with Time last year, she said: "We're culturally formed to be citizens of two worlds, public and private. We're wrapped up as much in what our daughters' school principal says as we are in what the newspapers are saying. We see the big geopolitical picture but also the smaller daily details of our citizens' lives."
Lara Bersano is president of communication strategies at Grupo Empresarios. She is a public relations specialist with extensive experience in international business between the Americas. To comment on this blog, e-mail blog@pinkmagazine.com and enter "Latin America" in the subject line. . . . . . . . . . . BUSINESS IN OTHER LANGUAGES Every time I take a plane to the U.S., I have this sense of challenge and flowing adrenaline. There are definitely a thousand opportunities here. I represent a half-dozen companies that do business with U.S. corporations, and every time I have the chance to prepare an agenda and plan my trip, it's great to confirm that this is really "The Land of Opportunity." Airplanes have united so many countries and cities, bringing people together, keeping hopes and dreams alive. How many times have you heard people coming back from a Latin American city saying, "I never imagined it was so beautiful. We had a great time"? I've also heard people saying, "It is such a great country, and we identified so many opportunities. It would be great to do business with them in the near future." All the professional people I know who've visited Latin America come back having identified a counterpart there with whom they could develop a successful business opportunity. It's easy when you know the place, know the people, do some research and assume the challenge. I have worked for the last 10 years fostering business relations and social activities between U.S. and Latin American entrepreneurs, businesses, investors and political leaders. I've received awards from several U.S. institutions and companies. It is a great honor to be recognized for your work, especially if the awards encourage you to continue pursuing a dream. My work thrives on fostering better understanding between cultures, educating Latin American entrepreneurs about the great advantages of doing business with the U.S. I still have not found anyone in the world – especially women – who would tell me that they have created a company or do what they do "for the money." Instead, they talk about children, family and wealth. We all have common goals. We all want to develop a great career, build a future, see our children grow, create great companies in which people feel happy to work, help our parents, go on vacation, help our communities, visit exiting places and live a happy life. That's why people get together and create associations, corporations, chambers of commerce and institutions. They put together their expectations and hopes and bring their very best to make it possible. Latin America has traditionally been – and is today more than ever – a natural partner for the U.S. in its endeavour for pursuing a great future. And America has now, more than ever, an incredible amount of resources, information, associations, experts and data to increase its business relations with the region. The language is not a barrier. Thousands of people in Latin America speak English, and millions in the U.S. speak Spanish. The opportunities in both markets are there, waiting for whoever wants to take the risk and take the time to analyze the market and invest in identifying the niches. Institutions such as the AMCHAM in Latin America or the Hispanic Chambers of Commerce in many of the top U.S. cities are doing a great job of fostering business relations among their associates. I asked the president of Anatek, a Georgia-based steel company, why she participates in the Hispanic Chamber of Commerce in her city. She said for the opportunity to network with other Hispanics who have experienced similar cultural and economic challenges when integrating into the American economy. She says the Chamber's programs are more effective because of the bicultural knowledge. So I hope this blog brings ideas, thoughts, strategic approaches and an exchange of useful information on what you think is important to take into account when targeting Latin American markets. Lara Bersano is president of communication strategies at Grupo Empresarios. She is a public relations specialist with extensive experience in international business between the Americas. To comment on this blog, e-mail blog@pinkmagazine.com and enter "Latin America" in the subject line. |
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