Every entrepreneur is well aware, that trust is one of the most important factors that affects the durability of a business relationship and creation of a stable business. However, the process of gaining this trust can be difficult and time consuming, especially when you operate on the international market. So how do you gain the trust of foreign business partners? Where to start?
Prepare an extensive portfolio
If you are not a big and well-known player on the market, it is much more difficult to gain the trust of a trading partner. It is always worth posting the opinions and recommendations of previous customers on your website, but if they also are not too well known, it will not impress companies operating on the international market.
That is why preparing an extensive portfolio is so important! Make sure that it contains details and results of your major projects. Post all important information that will allow a foreigner business partner to thoroughly analyse your potential and see to what he can expect from your company.
Get together with your business partners
When working with foreign companies, it is much harder to get regular meetings. In the end, you are separated by a much greater distance than within your own country. Nevertheless, you must try to find time for these meetings. They may not happen very often, but you can’t rely only on email and telephone contact! How should a business partner trust you if you avoid direct meetings? It doesn’t affect your image very well and it certainly doesn’t build trust. And prepare for such a meeting! Show that you care about the cooperation and you took the time to get to know the counterparty’s business. Don’t be afraid of honesty! This is the foundation of every good contract.
Take care of good image
Building trust in the international market is closely related to how your company is perceived in your own country. You can prepare a great portfolio and stand out with a good offer, but what if the counterparty decides to check how your image looks on the home market? Are you building your authority in the industry? Your potential business partner must hit only good reviews and see that in your country, many people look at you as an industry expert. Therefore, do not focus only on shining in front of a foreign contractor. In all this, do not forget about your national or local customers. Always take care of good marketing and image on the Internet. Do you participate at industry conferences? Be sure to let everyone know! This will have a very positive affect on your image in the eyes of foreign contractors. Since you are an authority in your field in your country, there is a high probability that they will want to cooperate with you, because they will see that you are a trustworthy person and know your business!
Cultivate the trust within your business relationship
The trust of contractors is much easier lost than to gained. One, single situation can make a difference. The process of building this trust abroad was most likely very hard and intensive, so you cannot afford to slip and make mistakes that can ruin all these efforts in just one moment. You always need to cultivate the trust in business relationships. Respect the time of the counterparty and always keep the deadlines. If something unexpected happens that will affect cooperation with a contractor, always be honest and don’t deceive anyone. The truth will always come out and your credibility will cease to exist in the eyes of your counterparty. Be transparent and propose alternative solutions. Also, sometimes try to positively surprise the customer, e.g. with benefits for regular use of your company’s services.
Remember that building trust with counterparties, domestic or foreign, is based on the sincerity of your actions. Therefore, take care of the image and credibility of your business, as well as of good relationship with clients. Trust is the foundation of any lucrative contract!