American businessmen are increasingly looking to the highly lucrative European market for new opportunities. No surprise, there. It’s a 500 million-member market. But Americans who do business in Europe need to consider how things are done differently compared to the way business is conducted in the U.S.

In a business sense, you have to know the country you are dealing with. You may not know the language when in Greece, but you should know such facts as the U.K. will be hosting the 2012 Olympic Games in London and spending millions of pounds on goods and services for that event. This is a golden opportunity for your company to do business. Exposure to the Olympic Games is valuable publicity you won’t find anywhere else.

But business is also about those all-important personal touches. Seemingly small and often highly personal customs and procedures can be important factors in whether or not your European partners see you as a successful businessperson or just another “Ugly American.”

Here are some personal touches you need to know when doing business in Europe.

—Leave your blue jeans at home. There are few if any “casual Fridays” in Europe. A dark-colored coat for men and a more formal skirt and pantsuit for women are required for doing business. You can wear your jeans for more informal situations, of course, but keep in mind that business dress in Europe is often more formal than it is in the U.S.

—We like to be informal in the U.S. and use first names when addressing each other, but this custom is a no-no in Europe, at least on a formal basis. In most countries using first names is unacceptable. It’s always safer to address an individual as Mr. or Mrs.

—If you are standing when an introduction is made, shake hands firmly. If you are sitting when introduced to someone, stand up, face the person and shake hands.

—Be complimentary whenever possible. In the U.S. many businesspeople routinely praise the work of others (often to the point of insincerity). If you really like someone’s office, be sure to say so.

—Many Europeans also love to be complimented on their proficiency in the English language. Everyone likes to be complimented, but do go easy. Being genuinely interested in others is a good idea worldwide but remember that Europeans are known to appreciate hearing good things about them and their work.

—Give others credit for their work on your behalf. While this practice is common anywhere, it is even more effective in Europe where businesspeople appreciate praise of those who helped you achieve your own success. Modesty is king here.

—Americans tend to be impatient about making decisions. Calm down. Many European countries place a high importance on notions of egalitarianism. Consensus and compromise are often a preferred way of doing business in Europe with everyone involved making a contribution. Be patient.

—Punctuality is often taken seriously here. If you have to be late, be sure to call ahead with a good excuse.

—Do not get too close physically. Many European businesspeople like to have some physical distance between you and them.

—Americans often are instantly responsive. This is not so much the case in much of Europe; don’t be surprised if your European counterparts take a few minutes to respond to your remarks—even to a direct question. When others are talking, do not interrupt them even if they are taking a while to explain their point.

—In general, do not do exaggerate or display your wealth by wearing expensive wristwatches, multiple rings or excessive jewelry. It’s often considered tasteless to flaunt your money in Europe.

—Do not expect all issues to be ironed out in one meeting. Many Europeans will want to hold multiple meetings to iron out details and encourage all participants to express their opinions.

—Dining customs can also be different here. For example, it is usually more relaxed. Do not start talking about business immediately. Follow your host’s advice on what to order if you are at a restaurant they know.

—Face-to-face meetings are generally the norm for Europeans who like to establish personal relationships with their business partners. Do not, repeat do not, try to do all business by telephone or e-mail. The personal touch is usually the best.

—Speaking of meetings, they are somewhat different in Europe. Introductions are considered very important. The first part of the meeting is often used to set up ground rules and determine an expected outcome. Participants are also expected to be involved and not be sending e-mails or texting or otherwise acting distracted.

—Be aware that some countries take regular tea or coffee breaks. If you know the schedule, these are often opportunities for you to talk to others on a more informal basis. The best advice: do take advantage of these occasions.

By David Wilkening