When it comes to the principles of negotiating with foreign buyers for export or commercial and especially international negotiations one key issue stands out more than anything else: how to communicate effectively with a foreign individual.
This question may seem simple. Most people active in international import and export have an answer for it, but obviously discovering the best answer requires study and learning from the experience of seasoned professionals.
To discover the best way to negotiate with a foreign buyer, one must not only be knowledgeable and experienced in economics and international relations, but also take a deeper look into fields such as psychology, sociology, and other important subjects.
To succeed in commercial negotiations for export, you can refer to reliable sources and books, benefit from the advice of experts in the field, or even hire a consultant to accompany you. There is no doubt that all of these are important for any international business negotiation. However, there is still a part of the process that remains unclear. To clarify this point, let’s consider an example.
Imagine someone preparing for a sports competition. Suppose this person does everything possible to analyze their opponent identifying their strengths and weaknesses, even studying their personality traits. While all of this is necessary for the competition, it still does not guarantee victory. Where is the problem? The answer lies in the same crucial advice that many experts in both international trade and domestic competition give.
Those who intend to enter the world of exporting and selling products to foreign buyers must first evaluate their own capabilities the potential they will rely on throughout this process. They must also have a clear understanding of their human resources, gain sufficient knowledge of their field and available tools, and ultimately decide whether they are ready to enter the world of international trade. This process is considered the first principle in all areas of business.
Gaining the Trust of Foreign Clients
What is our goal when dealing with foreign buyers or sellers? If we can provide a clear and honest answer to this question, we can approach negotiations in a completely different way. For example, what do you intend to emphasize in the meeting you have arranged with a client?
Such a meeting can be practiced repeatedly with the help of consultants so that you gain the necessary skills for meeting a foreign customer. Keep in mind that meetings usually occur in the middle stages of a business relationship before that, emails and calls are made for initial coordination, and long before those, you must already be prepared to enter the world of export and international trade. Therefore, as mentioned earlier, we must begin by focusing on ourselves.
Respecting Cultural Differences
When discussing or negotiating with a foreign client, we must respect the cultural symbols, values, and sacred beliefs of their country.
At the same time, it is very important not to neglect our own identity or portray our company as unfamiliar with our own culture and heritage. Just as the foreign party expects you to respect their cultural symbols, they will do the same for you yet if they sense that you yourself disregard your own culture, it will not leave a good impression.
In today’s business world, cultures essentially represent companies and organizations. Many experts in international trade recommend preserving one’s cultural identity in business dealings.
Imagine emailing a company requesting a business opportunity the first thing they will do is visit your website. Now imagine how much impact this first impression can have on developing the relationship.
Offering a Gift at the Beginning of Negotiations
In a business negotiation, you are stepping onto the first rung of the deal. The client is ready to hear you out and learn about your product. But if you rush up the ladder too quickly, trying to reach your final goal immediately, you may stumble and even lose the trust of the other party.
In a meeting between two foreign companies, before discussing anything, you can pleasantly surprise the other side by offering a small gift. This does not necessarily need to be expensive. For example, offering a piece of local handicraft can symbolically introduce your country. Such gifts can be simple and chosen based on your own taste. There are many cultural symbols in our country that can be used this way especially handcrafted items. Imagine how such a simple gesture could significantly increase the trust of the other party.
Principles of Negotiating with Foreign Clients in Export
The rules and principles of negotiating with foreign clients are defined step-by-step in commercial training. Even so, no one can guarantee that following all of these rules will lead to 100% success in trade. Experienced professionals in international business repeat this often.
For this reason, many experts recommend having a skilled consultant accompany you during such negotiations.
Another very important point in negotiations with foreign clients is knowing English. It does not matter which country you are negotiating with whether an Arabic-speaking country, a Southeast Asian country, a Latin-speaking country, or anywhere else.
With English proficiency, you can easily communicate, introduce yourself, your company, and your products effectively. Of course, having someone fluent in the target country’s language is always beneficial.
Some people in trade limit themselves to one country or one language for instance, only doing business with Arabic-speaking countries. Even such individuals still emphasize the importance of knowing English because they see it as a key factor in their professional growth.
Communication Methods in International Trade
The tone and structure of emails must be completely formal. Since correspondence is done in English, careful word choice is crucial. Many English words are informal and should be avoided in business writing.
After sending an email, you must patiently wait for a response and avoid sending repeated follow-ups whenever possible.
In any negotiation with a foreign buyer for export or import, your professional character represents your work. If your goal is only to find a group and arrange a face-to-face meeting, you may cause serious harm to your business.
Entering a deal means stepping into a long journey. Making a good impression whether online or in person is essential. So effort must be made to avoid instant mistakes. For example, taking selfies or recording audio during a meeting without permission must be strictly avoided. These small mistakes can instantly destroy trust.
Final Words
We must remember that understanding these principles before entering into a commercial contract can attract positive attention and support from the counterpart.
Understanding the culture of a potential client sends a clear message: I respect you, and I have taken the time to learn about your culture and customs. This means that the success of the deal is secondary; the most important element is you, the person present in this meeting.
This simple act can work wonders leading to your success in the negotiation.