There are many different things that you must know for conducting business with Russia. When trying to conduct business in another country, you need to know how they think and act. When your going to conduct business, you need to know what your getting into so you can please your customers and be successful with selling your product. The top 8 things you must know to conduct business is their religion, income level, the population of different age groups, what language they speak, their major commerce centers, their currency, their attitudes towards certain things and hot spots. If you know all those things, everything should go smoothly when conducting business in Russia.
#1 You must know their religion. Some things go against certain people’s religion, so you would not want to do or sell something that would go against their religion. You can try to do something that supports their religion so everyone that has the same type of religion would want to buy your product. The different types of religion in Russia is Orthodox Christianity, Islam, Catholicism, Protestantism, Judaism and Buddhism.
#2 It is important to know their income level. You don’t want to over price things because many people will not be able to afford it. You want your prices to be reasonable to the people in Russia so your product can be sold efficiently. The income level in Russia is $1.861 trillion.
#3 You need to know the population of different age groups. You would want to know this so you can get an idea of what you want to sell to them. You would want to have products for different age groups. By knowing the population of age groups, you would know how much more money you will make with the highest population. In Russia, the population of ages 0-14 is 16.4%. Ages 15-64 is 70.3% and ages 65+ is 13.3%.
#4 You want to know what language they speak. You can’t just go to another country to try to conduct business and now know their language. You would not understand them and they will not understand you. If you are trying to sell them a product, the words on it must also be in their language so they know what it is and how to use it. In Russia, they speak Russian.
#5 You would want know their major commerce centers. You would want to know that because that’s where the most people be at. You would want to go to a place where a lot of people are. The major commerce centers in Russia is Moscow and Saint Petersburg.
#6 You need to know what their currency is as well. You should know this so you can be able to charge them the same amount as you would do in your own country. In Russia, their currency is Russian Ruble.
#7 You must know their attitudes towards certain things. You would want know that so you can do something that you know they will like and appreciate. You should know their attitude towards work, family, faith, their career, education and etc. For example, people in Russia take their jobs seriously. Young workers are learning how to do things in a job and working hard. Their achievement are highly regarded while with older workers, they don’t get reward but still take their job seriously.
#8 You need to know some hot spots in Russia as well. You would want to go where the most people are at so you can sell a good amount of things. Different hot spots in Russia is Moscow, Saint Petersburg, Kazan, and the Golden Ring.
You want to know as much as you can so you can be successful. You want to be able to conduct business in the best way you can. You need to know how people in Russia think and act so you can be able to work with them. You need to be able to put yourself in their shoes so you can get an understanding of them and what they like. You also need to know the best places in Russia to go so you can be able to sell your product and service to as many people as you can.