king on any business venture. First impressions may be positive, but an organization needs to analyze the situation over time. In subsequent trips, other opportunities could be analyzed. Gathering essential material and talking with other domestic firms doing business in the country, even if they're in a different sector, will be able to tell you at what stage problems arose or suggest people who could help you. Another important issue that cannot be overlooked is the payment of invoices. Even before a company starts thinking of setting terms of payment, it needs to determine if your potential customers have any money. Often, companies unwittingly embark on discussions with people who have no financial means. One of the first things to ask outright is "Where's the money coming from?" In very poor countries, there are a lot of people who think that businesses in Western countries are extremely rich and that they're going to give them the money. This is a delicate issue when it comes time to start negotiating ( CMA Management, Jul/Aug 2001). The hotel chain Days Inn is an example of how to put into practice Joly’s recommendations. With the fall of the Iron Curtain and the dismantling of many national economic barriers, a new breed of European traveler has developed, who, in turn, has created a new demand for budget hotel accommodations throughout the continent. This has generated new opportunities for franchised hotels in Europe. While there are plenty of four and five-star accommodations at the high end and one-star hotels at the low end, mostly independents, there is a shortage of economy and mid-priced hotels. There also is a lack of amenities. While many independent European hotels offer little more than a bed and a bathroom (sometimes a communal facility), U.S. hotels offer the convenience of Internet access, free continental breakfast, in-room coffee maker, an easy-to-use reservations system and many other...
