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International Business: 10 Tips for Conducting Business Overseas

Here are ten tips to keep in mind before you finalize your next international transaction.

6. Find a market specialist.

Depending on the size of your business and the proportionate deals to be made, it may be advantageous to hire an international business consultant with direct experience in the country.

7. Get to know the country.

Do you know anything about the country you’d like to do business in, do you understand the language, the culture, communication styles and their systems? For example, the British are rather formal. Many from the older generation still prefer to work with people and companies they know or who are known to their associates. So it’s safe to bet that your creatively casual tone may not go over so well in the UK – at least not at first meeting.

8. Understand their business.

It’s essential to comprehend the business of those you work with overseas. What motivates them, what are their processes, what are their wants and needs? And if you’re dealing with an international supplier take note to see if they actively look to understand their customer (you).

9. Do your research.

There is a wealth of country-specific knowledge online. Get up to speed on a countries economic data, regulations and culture using World Business Culture online guides and The Doing Business project.

10. Get assistance from U.S. Embassies and Consulates

Commercial officers in U.S. embassies and consulates abroad can provide assistance to U.S. businesses via briefings and by arranging introductions to appropriate firms, individuals, or foreign government officials. Given the value and low cost of these services, it is highly recommended to consult with these organizations before traveling to a foreign country on business.

What are some more tips that you’d recommend before doing business overseas? Let me know in the comments below.

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Photo Credit: ZioZia

 

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