A lot of budgets are indeed reduced to nothing because the money is fired off in all the wrong directions.
Moscow in particular is an expensive place to do business. So spend your money wisely.
Firstly, there is the big financial drain of business travel. When you add up the costs of taxis, hotel, flights, subsistence and so on, then it is fair to say that a five day trip to Moscow will cost not less than £2,600. Four trips per year, perhaps with a couple of regional flights, your multi-entry visa, and maybe the boss comes on one trip. You’re not going to get much change out of £16,000. And all you have done for this £16,000 is talked to people!
Think: do you need to go to Russia at this stage? Once you have found your business partner, then yes, you need to be visiting them, supporting them. And it goes without saying, or almost, that you need to be in Russia, to choose that partner. But why are you going to Russia before that?
Going on a “fact-finding trip” is not a good way of spending your budget! Nor is it a great idea to visit Russia to walk round a trade fair! By all means, time your trip to coincide with a fair, but ensure that you have business meetings set up in advance. And not just smiley introductory meetings either. Business meetings. Where real business can be done.
Other costs, okay, you have no choice. Yet here again, if you have to spend the money, make sure you get the right price, and you incur the expenditure at the right time in the process.
You will no doubt do this almost without thinking when it comes to services such as legal and other professional advice, translators, interpreters and so on.
If you are a manufacturer, and you would like more tips and information, order a free copy of our business guide, 10 Mistakes companies make when doing business in Russia, that you don’t have to
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