A different way of doing business

As I reflect on my time in Egypt, I have been thinking about how people do business in different countries. Two years ago, I traveled to India with a client. Our goal was to gain a better understanding of the market opportunity there in preparation for targeting one of the world’s largest markets.

Before we left, we spent some time learning about business customs and getting an understanding of the people we planned to meet. Even with our preparation, it was not until we were in the country actually meeting with potential clients that we truly started to understand the market. Talking to people first hand provided more insight and data than we ever could have accomplished remotely. And the trip built relationships that led to significant business for my client.

Even though I was in Egypt to travel, rather than do business, I found it interesting to see get a glimpse of how business was being conducted. Most of what I witnessed focused on the tourist trade, but I believe some of it would translate to typical business situations.

Conducting business in Egypt seems quite different from how we do it in North America. The pace is generally slower, there is a great deal of haggling over price and a key component is the concept of hospitality. While it is unlikely we will adopt the Egyptian style of doing business, there are lessons to be learned from their approach.

The concept of hospitality is one that is worth exploring. In Egypt, it is common — even in the smallest retail shops — to offer visitors a beverage such as tea or soft drinks. This is typically a prelude to a conversation about the items you are interested in buying. A casual browser should keep moving, but if you are interested in buying something, it can signal the start of the deal. Often, concluding the deal can take some time as significant price negotiation usually takes place.

The key to business successful is having a solid understanding your customer — regardless of their language, culture or location. When you are doing business in a country or culture that is different from your own, it pays to know their style of conducting business. Being able to adapt will help you build a relationship that could increase your chances for success.

One thing I enjoy about travel is meeting people in other parts of the world and gaining a better understanding of how they live and work. With the globalization of business today, an appreciation for different ways of doing things will go a long way in closing the gap.

Home again!

I arrived home late last night from an amazing trip to Egypt. I am still a little jet lagged after our 24 hours of traveling home, but it was well worth it. My good friend Kim and I had a blast, and I expect to share some stories from our journey.

Please stay turned.