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Exploring A Potential Business Opportunity In Turkey

11.04.2014 13:05

Western visitors regularly express to me surprise at how much time is required in developing any kind of relationship here.They are usually surprised that it is even true in the business world. In this piece I want to share a few tips on understanding doing business here and getting started in it.The most common strategy that foreign companies use to reduce the risks to their operation in Turkey is to find a reliable Turkish partner and establish a joint venture. This just does not happen with a Skype call or two. Spending time together and much discussion are necessary. These are the rules of the game to be successful. Part of the reason for spending time together is not because you necessarily really enjoy each other's company, but to get better acquainted so you can determine if you really have the same aims and goals and work ethic.I have found that when you build personal relationships with people, you usually get better performance.You would think that nowadays everything could j

Western visitors regularly express to me surprise at how much time is required in developing any kind of relationship here.
They are usually surprised that it is even true in the business world. In this piece I want to share a few tips on understanding doing business here and getting started in it.

The most common strategy that foreign companies use to reduce the risks to their operation in Turkey is to find a reliable Turkish partner and establish a joint venture. This just does not happen with a Skype call or two. Spending time together and much discussion are necessary. These are the rules of the game to be successful. Part of the reason for spending time together is not because you necessarily really enjoy each other's company, but to get better acquainted so you can determine if you really have the same aims and goals and work ethic.

I have found that when you build personal relationships with people, you usually get better performance.

You would think that nowadays everything could just be done over the Internet via email, Facebook and Skype and so on, but more often than not, the old fashioned way -- come in and talk face-to-face (and have Turkish tea) is still preferred. I am always surprised by the number of people who still want to meet together to discuss a project when it could be done over the Internet.

Turkey is a rapidly developing country that appears to offer some sophisticated facilities in its major towns and cities. In the old days it is true the economy was traditionally predominantly based on agriculture, mining and some manufacturing, but that has changed. The economy has diversified. Although it is still a major exporter of crops such as figs and citrus fruit and raw materials such as marble, Turkey is also a world leader in the manufacture of textiles and automobiles and has a rapidly developing service sector.

Thinking of setting up a business or permanent operation in Turkey?

Let me just highlight a few points to provide some insights for you and your new work situation:

The dependence on personal relationships means that standard company functions such as strategic planning and even financial business plans may be based on business sense and intuition rather than on systematic data.

Schedules, budgets and forecasts will be rough guides only. Delivery dates and deadlines are often not taken as literally as you may expect.

To get something done efficiently or more quickly, you will find everything must be done by personal contact and personal negotiations. This takes more of your time.

If you have set a deadline, it is no good waiting for the deadline to pass and then calling up to check why it was not met or the goods delivered. It is best to have the mindset to inspect, not expect. (Take the initiative to call to check on the situation rather than assume it will happen and have to call later to complain.)

Here is a true short story to illustrate my point: One Westerner, who was a regional manager based in Istanbul for a US company, had been concerned for some months about the company's underperforming in the market. He felt they lacked international vision. At his request to the home office, he asked one of the executives from the headquarters to fly over and visit the Turkish office in an attempt to establish stronger ties with the Turkish employees. The executive talked to a number of the employees personally, then he took all of the employees out to dinner and attempted at the dinner and during his stay to build relationships with them. One of the Turkish employees in a more senior position told the executive from the United States, "Now that we feel we know you, we'll try to do better for your products." The result was that they did! Sales increased.

Turkey is fast becoming sophisticated in many areas and has been rapidly developing in a way that attracts foreigners for business investment, plus the economy has diversified in recent years. However, like anywhere else, the sophistication and development vary in each sector depending on the company, management and personnel.

You need to watch out for the complex interplay of vested interests, nationalists and religious sensitivities, language and cultural barriers combined with concerns for personal safety and political instability. Turkey has always struggled with the problem of having strong links between major business interests, politicians and organized crime.

In the past these have prevented some foreign companies from entering the market. There are still risks today. But those who have taken the risks have usually found that if they chose the right people with whom to work, the result was success.

CHARLOTTE MCPHERSON (Cihan/Today's Zaman)



 
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