IT companies with growing revenues and strong mindshare in their home market need to determine early-on when to start their internationalization processes.
This question has become much more time sensitive and strategic as the cost of information has gone down significantly. Barry Downs and Paul Nunes, in their 2014 book “Big Bang Disruption” captures this issue well when they state:
- “Consumer no longer have any excuse for making and uninformed purchase”
- “The cost of search has fallen below the cost of regret”
-What we learned by living and doing business with Mexican decision makers-
Mexico has one of the most iconic cultures in the world and one of the most complex to do business. Besides its well-known gastronomy, the marvelous tequila and traditional mariachi music that with any doubt contribute to support the fact that is top in the Rank of Heritage in Latin America, Mexico is also unique in the way companies and executives make business decisions. In the past 12 years doing business in Latin America I have participated in several conversations with other executives about the Mexico uniqueness in the way they make decisions. These are some notes prepared to document the Mexican way to decision making process that will provide some clues to succeed doing business with the second economy of the region.