Colorado businesses working internationally need to be aware that doing business overseas is quite different from doing it domestically, experts say.
Keying in to cultural differences is important, professionals say. Most agree that taking a “time-is-money” approach, common in American culture, doesn’t work in international markets.
“In the United States, we view time and money somewhat the same. We say time is money,” said Myrna Adkins, president and chief executive of Denver-based Spring Institute for Intercultural Learning. “But if you’re very focused on how fast you can get something done, it’s very hard to build a relationship.”
Business is all about relationships, experts say, and even more so outside the United States. In many Asian countries, a growing business trend is getting to know business partners during karaoke. Going out for drinks in the evening is part of the Japanese business culture, Adkins said. Business is not discussed at these events, but a relationship is developing, she said.
“And when you think of it, American English has words to express time that no other word in language has” such as borrow time, waste time, spend time and overtime, said Bill Decker, a Lakewood-based market-entry consultant. Asians think time is limitless and negotiations can continue, said Decker, who lived in various parts of Asia for eight years and overseas for 14 years.
Americans tend to be upfront in business, but that is not necessarily the case elsewhere.
“Even British will learn that doing business in America means being more direct,” said Maggie Fouquet, president of the International Business Circle, an invitation-only group based in Colorado.
In some Asian cultures, responses such as “we will review this” is often a no, while a “yes” is only an indication that what is being said is understood.
“In China, there’s a sense that ‘if I say no to you, you’ll lose face,’ ” said Robert Burke, a China-business consultant. “It can last forever when the handwriting has been on the wall since the first meeting.”
Nonetheless, businesses are overcoming these cultural barriers.
“Americans are really doing business all over the world, and quite successfully,” Adkins said.
Some advice: “If you are going to go international, you can’t just dip your toes in the water. You really have to dive into it and really do your groundwork first,” Fouquet said.
Rita Wold: 303-954-1488 or rwold@denverpost.com
