Economy

High Five

Written by ProfitGuide Staff

Mexico
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BATTLE PLANS: How to win in Mexico

DO:
speak Spanish or hire someone who does, and translate all company literature into Spanish. Even if your client speaks English, you’ll need to communicate with Spanish-speaking employees if you get the order.

DON’T:
make business a side trip on your Cancun vacation. Successful market entry requires your full attention and the work of dedicated sales and/or support staff that speak Spanish and visit clients three to four times per year.

DO:
banish stereotypes. Mexicans are hard-working, savvy businesspeople who want cutting-edge products and services. Unloading outdated technology there doesn’t wash.

DON’T:
assume “yes” means “yes.” “A polite ‘yes’ might mean ‘I understand’ or ‘I appreciate your point of view’, but it doesn’t necessarily mean ‘I’m going to place an order’,” warns Gustavo Zentner, manager of Manitoba-based Mexico International Trade Development.

DO:
take advantage of Mexico’s many bilateral trade agreements to access other markets. Its accords with 30 countries make Mexico a good launching pad for international initiatives.

DON’T:
SB

* WARNING!
Watch out for … customs hassles

NAFTA has greatly improved access to Mexico, but it has not erased the border. Overlooking niggling necessities such as using a licensed broker to push shipments through customs — as is required by Mexican law — can stop your shipments cold. — SB

© 2004 Susanne Baillie

Originally appeared on PROFITguide.com