Keys to Success
- Build broad relations. Personal relationships are very important in business. It pays off to build and cultivate those relationships. In addition, it can be wise to expand your network beyond the single decision maker in a given business relationship. Firstly, it will give you additional feet to stand on in the event of a change of personnel. Secondly, having common acquaintances who can vouch for you may have a positive effect on business.
- Choose your sponsor carefully. When entering the market, teaming up with the right sponsor can make or break the business. Again it is about the network you have access to and the sponsor should have the right connections and be able to introduce you to key decisions makers. Even if you have the best business proposition, if you cannot get past the middlemen you will normally interact with in your first encounters with a local company, the opportunity could be lost.
- Know the culture. Take the time to familiarize yourself with how business is conducted in the UAE. In some aspects, it can differ quite a bit from what you are used to from Norway. Important areas include negotiations, communicating in a timely manner and understanding the message that the other party is trying to convey.
- Plan ahead and be prepared. Make sure you have as much of a clear view as possible of the process and costs involved with setting up. It is wise to double and triple check everything before making a commitment as ending that commitment can be more problematic than you imagined. Be sure that you can afford the time and cost it may take to have the business established and before it starts to generate revenues. Familiarise yourself with all relevant regulations.
- Be patient. Everything relating to setting up and doing business may take longer time than you are used to. Business can at times be concluded at a slower pace, however, do also try to evaluate that this is the case in your circumstances and that you are not just wasting time. In any case, never try to rush anyone, be calm and patient.