Collaboration with overseas countries will be one of the most rewarding for business. However, … [+]
The prevailing view in reports has been that companies are turning to more regional and local sourcing in the wake of the pandemic. But a New York University study on the “depth” of globalization suggests that international trade is not only booming, but is actually exceeding pre-pandemic levels.
Businesses are leveraging international partners more than ever before for a variety of reasons. Unfortunately, not all of these collaborations are as successful as hoped. Language and time zone differences are not the only factors that complicate international partnerships.
Fortunately, by focusing on a few proven tactics, you can ensure thriving, effective collaboration, no matter where your partners are in the world.
1. Develop a clear strategy for overseas partnerships
Working with international partners often requires additional effort and coordination, so you should have a clearly defined strategy in place before you start looking for collaborators. A cooperation strategy will not only help you determine which type of partner is best suited for your business, but also help you determine the best geographical areas to expand your business or enter into a cooperation partnership.
When it comes to concerns such as how local laws and regulations might affect your partnership, relying on local input and expertise can be particularly helpful in resolving these issues.
You should carefully consider the attributes you are looking for in an overseas partner and what tasks and responsibilities you need assistance with. This will help you identify a partner who has the necessary skills to address your business needs.
2. Ensure cultural fit
Working with international partners naturally means working with people from a different cultural background than your own, but this doesn’t mean you can’t strive to achieve cultural fit in your business partnerships.
As I wrote in the Harvard Business Review, cultural fit is a key success factor in any partnership: To maximize the chances of a successful collaboration, you and your international partner need to have a similar perspective on how your organizations work together, communicate, and make decisions.
As part of this process, we recommend that organizations complete a fit and trust assessment developed by Dr. Carl Manrott and Dr. Jerry Ledlow. By measuring relationship factors such as focus, communication, team orientation, innovation and performance trust, you can ensure that you and a potential partner are a cultural fit.
3. Establish communication standards that work for everyone
Communication is a key aspect of cultural fit in any strategic partnership, but it can understandably be challenging when working with international partners. The greater the physical distance (and time zone differences), the harder it is to coordinate communication.
As Dheeraj Bhargava, who currently works at Apple in India and is a recognized business operations leader, explained to me in a recent conversation, “The potential communication challenges in foreign partnerships are exactly why it's so important to clearly establish your ways of doing things at the outset. Each side should strive to minimize friction for the other as much as possible.”
He adds, “Email and online messaging are convenient, but in situations where face-to-face meetings are necessary, it's important to be considerate of everyone's schedules and needs. This establishes a dynamic of respect that makes collaboration much easier.”
4. Gain a deeper understanding of other cultures
You need to ensure that you and your partner organization share similar cultural values, but you also need to try to understand the culture of the people you are partnering with.
For example, research has shown that when building trusting relationships with business partners from other cultures, North Americans and Europeans prioritize openness, while East Asian cultures prioritize competence and Middle Eastern and South Asian cultures emphasize respect. In Latin American cultures, business leaders tend to seek partners who share similar social values.
In addition to understanding these cultural differences in determining trust, understanding different cultural norms and traditions can also help you build stronger relationships with your overseas partners. Some cultures place a lot of emphasis on formal titles and greetings and on direct communication. Other cultures have a more casual approach. Understanding your overseas collaborators' perspectives can help you avoid misunderstandings.
5. Always strive to build trust
Even when we can’t meet in person, we must always find ways to continue building trust with our international collaborators. The commitments we make as part of our partnerships must remain consistent and reliable. This includes communicating proactively, meeting our commitments, and holding ourselves accountable for our actions.
Don’t be afraid to ask for feedback from your partners. This is especially important when different cultural perspectives lead to misunderstandings and other obstacles. Sincerely asking for feedback and acting on it shows that you value your international partners and that you want to grow and improve for the long-term success of your collaboration.
Building stronger collaboration
While working with international collaborators can pose some challenges beyond those experienced with domestic strategic partnerships, these collaborations can have an undeniable impact on your business. From expanding the scope of your available talent to helping you launch products or services in new markets, these collaborations can significantly improve your bottom line and help you achieve your business goals.
From the moment you prepare to enter into an international partnership, conducting due diligence and giving these collaboration partners the care and respect they deserve will exponentially increase your opportunities for success and growth.
