If you have ever done business in Latin America or with someone from Latin America, you might have realized that the sale cycle takes longer there than in the U.S. There are multiple reasons for this, and unfortunately some people give up too soon because of the belief that if a certain amount of time has passed and nothing has happened, then nothing probably will happen. This belief does not necessarily apply in Latin America.

Relationship building in Latin America is the foundation of good business deals— or any deals at all for that matter. Building a relationship takes time, and in order for people to have a business relationship with you, they must first get to know you in a more personal way. Before making a sale, you have probably met in person with the prospect more than twice. You have probably enjoyed a cup of coffee together or even a meal. You have probably met one of their relatives, or at least a close business partner; and you have definitely laughed together. Again, as you can imagine, all this takes time.

Sale cycles in Latin America require more nurturing, and therefore they tend to take longer. However, the fact that they take longer does not mean that they are not well worth it. In order to do business in Latin America, you can’t be in a rush. If you get lucky enough to strike a deal in a short amount of time, this does not guarantee you will have a long-term business relationship with them. You have to choose between quick cash now or more profit later. Going “slowly but surely” tends to be the best approach.

Seven reasons Why The Sales Cycle in Latin America takes longer than in the U.S.:

1. People like to do business with friends, so for them getting to know and trust you will take some time.
2. People may prefer to do business with locals since they prefer to meet in person, and locals are more aware of cultural nuances when doing business with them.
3. They want to make you feel welcomed, so inviting you to a long lunch or to spend some time together is a way they show appreciation.
4. It takes more than one person to make a decision. Sometimes even mom has something to say.
5. You may have to travel back and forth at least a couple of times to meet in person.
6. There might be some delays because of language and forms of communication.
7. And most importantly, if it’s not an emergency, then what’s the rush?

So next time you want to do business in Latin America remember: “Good things come to those you wait.”