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North American Negotiation Weaknesses
As the North American economy picks up steam, business owners, who survived the 2008 financial crisis, are now looking to expand/develop their overseas export markets into the BRIC countries of Brazil, Russia, India and China. When compared to Canada, the United States and Mexico, the BRIC cultures are centuries old. This emerging market grew up using the barter system where every transaction, or debt collection, is an overseas collection negotiation.
When it comes to selling to emerging markets and International Debt Collection, North Americans have several ingrained cultural weaknesses when it comes to negotiation. The major one’s are:
1. We have a very strong need to be liked. The worst kind of negotiator is the one who seeks the approval of others.
2. We let our egos get in the way of the objective.
3. We are reciprocity/compromise oriented.
4. We are overly impatient: time is viewed as money (in negotiating, patience is money).
5. We need to know the answers (vs. we are more comfortable with certainty rather than ambiguity)
6. We are far too rational.
7. We have an inordinate respect for deadlines.
8. We detest silence.
Look before you leap or negotiate
When selling into a foreign market, try to learn from those who’ve gone before. Tap your Consulate in the country you’re considering selling into for their local expertise. Travel in to country for a while to get a better understanding of how business is conducted. And, above all, expect to be challenged by some of the tactics for counter-negotiation.
When collecting debt in these markets, be cautious when selecting a collection agent. Or, use an International Collection Agency that already has an established network of trustworthy agents.
AAB is experienced in overseas negotiations. Need collection help in another part of the world? We can answer any questions you may have. Call or schedule a free consultation regarding overseas collection negotiations.
