Friday, June 06, 2014

Key to Global Business Success? Build Friendships.

Invest your liver's time.  Do karaoke.  Build friendships.  What do all three have in common?  It's Martin Graham's list of what brings you success in Russia.  Graham runs a wealth management fund -- Oracle Capital Group -- that owns a karaoke club in London.  Karaoke is not very popular in the UK, but Oracle Capital Group is focused on Eastern Europe's new rich, and Graham's Russian clients love it.

Graham says, "We believe in solutions rather than just selling products to people."  He claims it is about "just building friendships.  You also have to be able to do karaoke quite well."

Read the interview here which has been edited for length and clarity. Here's a snippet on one of the questions:
Q:  What's the secret to successfully managing people in Russia?

A:  It is the same as everywhere. It is about communication, clarity around objectives, proper delegation of authority. You need to give people responsibility. They need coaching. It does not happen overnight. The default mechanism is 'oh, I need to check with my boss.' But the principles are the same.
Related article:  How to Enter the Russian B2B Market

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