Think Carefully Before Choosing a Reliable Business Partner in Indonesia
Planning a business venture in Indonesia is not for the faint of heart because you may encounter problems before succeeding. To make it easier on yourself, it pays to look for a reliable business partner first. This means taking time to assess the Indonesian contacts you’ve already made and see which ones have business potential.
Factors in Selecting a Reliable Business Partner
Sincerity: You should only select a business partner who is sincerely interested in your welfare. Anyone who only sees their personal gains will probably not make for a reliable business partner.
Trustworthy: You must select a business partner you can trust. If your prospective business partner seems too eager to share details about your business to everybody, look elsewhere then.
Knowledgeable: You will want a partner who is well-schooled in the finer points of Indonesian business and has great academic credentials. However, you don’t need to discard prospective partners who might not have done well in school. After all, we are looking for entrepreneurship, not admitting to college.
Committed: A business partner should show the same level of commitment that you have towards your business. If your prospective partner seems a bit erratic when it comes to results, look elsewhere.
Don’t Rush When Looking for a Partner
Try not to be that hasty as you search for a reliable business partner. Sometimes, it may be prudent to take your time getting to know the person first. After all, the person you have in mind might have other ideas about the future of the business. It may take more than just one meeting to discover the true intent of a potential business partner. Ask yourself this: “Is this individual someone I can associate myself with for a long time?” This is because your business partner will be working closely with you and people will pay attention to the relationship.
Be Patient But Observant About Your Reliable Business Partner
It is true that “words are nothing but the action is everything” especially in the Indonesian business arena. A lot of people will praise you and your ideas to high heaven, but that’s normal in the country. When you are working closely with your reliable business partner, that is when you’ll see personality traits previously hidden. Be observant as well about your partner’s behaviour towards others – this may eventually show how they treat clients or customers.
Protect Yourself and Your Reliable Business Partner
In Indonesia, it takes time to develop a sound business relationship with local business people. If you are going to choose someone as your partner, be sure you know how to talk about that person. This means giving a reputable job title so that people will respect them. Avoid gossiping about your business partner, especially with other business people, to avoid compromising anyone’s reputation. If people ask about your partner, stay positive even with your choice of words and tone of voice. Sometimes, what you say is indeed more important than whom you are talking with.
Although many people may be interested in foreign investors like you, it pays to refrain from instantly jumping into the business. You do need a business partner but don’t rush headlong into the relationship. Have a series of meetings first with candidates for a business partner before you decide on one. And if you intend to set up the business already, do consult 3E Accounting services for your business setup in Indonesia. We offer many services such as accounting, auditing and taxation which may be useful to you. Contact us today for more information.