DOING BUSINESS ABROAD: A GUIDE TO GOOD PRACTICES
Doing business in your country of origin is already a challenge, so how do you prepare to cross borders?
An entrepreneur who wants to carry out his activity in a foreign country will have to face all kinds of cultural, commercial, financial or even legal adaptations, which can vary a lot from one country to another. It is therefore necessary for a company to be well prepared before wanting to conquer new markets. It is necessary to understand the international sphere and more precisely the target market in order to understand the issues and facilitate the process.
Here is a simple method to remember so that you don’t forget anything: the VISU method.
V – Values: Find out about the values of the host country, its traditions, its history, its habits and customs. It is also recommended to know the basic protocol rules when it comes to a first contact. From one country to another, the rules of decorum differ and it is useful to adapt to them.
I – Interests: show a particular interest in your interlocutor and future partner. This requires respect for the way of life and the way of working. For example, in some countries, it is normal to begin by inquiring at length about the health or even the family of your future partner before entering into negotiations.
S – Knowing how to communicate… and preferably in the language of the other or at best in English. It is still recommended to know the polite formulas like “hello”, “thank you”, etc. in the language of your interlocutor.
U – Unique: each culture is different and therefore unique. If it is not for you, this is at least valid for the host country. Thus, you will not approach a negotiation in Cameroon in the same way as in Thailand for example.
Selling to external markets benefits any business that succeeds in its approach. It is therefore recommended to be trained and informed to take the path from culture to signature!