Top 6 Mistakes to Foreigners should Avoid While Doing Business in Thailand
Kudos to the aspiring businessmen who want to invest in Thailand! It takes a lot of courage and determination to even think of doing business in an alien land among unknown people. And therefore the possibilities of doing mistakes are high too. When you are in Thailand, there are certain mistakes that you must avoid; else you will not be entertained by them at all. Some of them are listed below;
- Not Building Relationship
Making relations is one of the fundamental principles of doing business in Thailand. A country which is socially so active, developing trust is important. Relating to business contacts is considered more crucial than just doing business. Thus, you must ensure a good relationship with the Thais. Also, involving a Thai national as your business partner or client is important in order to survive in the Thai business ecosystem.
- Not Making a Prior Visit to Thailand
You must travel at least once to Thailand prior to settling there for business. This way you will understand the places, culture, and people better. You can even do some preliminary survey of your business’ products and services to realize their potentialities. Besides, you will get to know where you stand.
- Not Getting Greetings Right
When you are to meet a Thai, do not shake hand. The right form of it is the ‘wai’ that is done by placing the palms of your hands together. While doing so see that it is at your eye level and your head is slightly inclined. Thais follow a great formality when greeting someone. However, they don’t expect the foreign business people to return a wai; even a simple smile would do. But, if you know a bit of their culture, it may be appropriate to return the same.
- Lacking in Business Communication
It is extremely important to have an interpreter with you. Thais might not just agree that they didn’t understand your language much to make sure that foreign investors are not offended. Having someone by your side who knows both the language will help you and the Thai to take an informed decision.
- Ignoring the Dress Code
Thais are very particular about the dress. And in business, they usually follow a formal dress code. You are not allowed to wear a casual wear when doing business in Thailand. As for men they must be in a proper shirt and tie.
- Not Carrying Business Card
Visiting or business cards are always used in Thailand. So, you must carry it when you are visiting Thailand for business purpose.
