1.Build personal relationships with partners. When there are contract disputes, there is little protection for the aggrieved party because of the time and effort needed to legally enforce the agreement.
2.Use local consultants. Because the rules of business have changed so much in recent years, it pays to have a local Russian consultant working with the company.
3.Ethical behavior in the United States is not always the same as in Russia. For example, it is traditional in Russia to give gifts to those with whom one wants to transact business.
4.Be patient. In order to get something done in Russia, it often takes months of waiting.
5.Russians like exclusive arrangements and often negotiate with just one firm at a time.
- 6.Russians like to do business face-to-face. So when they receive letters or faxes, they often put them on their desk but do
- not respond to them.
7.Keep financial information personal. Russians wait until they know their partner well enough to feel comfortable before sharing financial data.
- 8.Research the company. In dealing effectively with Russian partners, it is helpful to get information about this company, its
- management hierarchy, and how it typically does business.
9.Stress mutual gain. The Western idea of “win–win” in negotiations also works well in Russia.
- 10.Clarify terminology. The language of business is just getting
- transplanted in Russia so double-check and make sure that the other party clearly understands the proposal, knows what is expected and when, and is agreeable to the deal.
11.Be careful about compromising or settling things too quickly because this is often seen as a sign of weakness.
12.Russians view contracts as binding only if they continue to be mutually beneficial, so continually show them the benefits associated with sticking to the deal.