Today I was in Saint John, NB spending the day teaching my Business Buyer Secrets seminar to a dozen newcomers. There were attendees from China, Israel and the middle east.
One of the persistent topics of the day was trust. How do you build trust in a business transaction when you're new to the country and have barriers to overcome when it comes to language?
My best advice to those in attendance was to tear down barriers. The participants were there to learn how to buy an existing business. I know that some have plans to start their own new businesses.
I can't imagine the courage it must take to uproot your family and move halfway around the world. Once arrived, then having the gumption to start a new enterprise in a foreign land! These people were clearly successful in their homelands because they're here on immigrant-investor programs.
So if someone can have the courage to win at home and move to the other side of the planet, then surely one can have the courage to take a modest job where one would be forced to talk to locals every day. That was my advice to the problem. Immerse yourself somehow in the local community and force yourself to speak English. Along the way new friends will be found and trust can be established.
It's often hard to completely trust someone you're going to buy a company from, its a big decision. What we need though is trust in advisors and friends who can help watch our back. This advice can go for everyone.