Based on Alea Global Group’s experience of hosting family office investment summits in the Middle East and around the world, here’s all you need to know to get the most out of any business event in the region.
Dress code
We recommend that both men and women wear business attire – either business suits or the host country’s national business dress. When hosting one of our own events, this is advised both for the daytime programme and for the dinner and cocktail receptions.
From personal to professional
Personal relationships play a huge part in business relationships in the Middle East, so getting to know your potential collaborators and building trust should be the priority if you want to maximize chances of creating a profitable working relationship. It is because of the unique business culture in the Middle East that we do not organize one-to-one meetings at our Middle East events in the way we do for our other events around the world.
These kinds of targeted meetings between strangers – and in fact any approach that appears in any way business-led or like a pitch – is likely to be counterproductive in the Middle East, and we strongly advise against it.
Be aware of background
While they may present very modestly, most of the investors you will meet at the conference have been to the best business schools in the world and have access to privileged information. They have usually traveled extensively, working with people from many different countries, and understand those different countries’ cultures more than a foreign delegate may understand theirs.
The occasional faux pas may happen due to differences in background, and the people you meet will be very understanding of this. However, it pays to remain aware of the business culture they come from, and to refrain from appearing to be pushy or clinical in your dealings with them.
It’s understandable if you haven’t had much or any experience in the Middle East, and there’s no need to pretend otherwise when meeting people. Instead, do a little research into life and culture there ahead of time.
Keep it light
In the interests of maintaining good relationships, investors may not put forth strong opinions on topics that could be considered controversial, even if they are very well versed on the topic, so just be aware that this is likely out of politeness and modesty rather than ignorance. Keep conversation light unless the person you are talking to leads it to anything more serious.
That said, politics often comes into the conversation so be prepared to say what you think and to explain your perspective if it differs from others’ . As long as you do this in a polite way and are open to listening to alternative perspectives, your authenticity will be appreciated. Family is always a great universal topic, and of course you’re around people for whom family is first and foremost.
Asking whether they have 24 children, where they and their family members have studied, or where they choose to travel are all safe and fun conversation topics.
Be authentic
If you have the patience to build a personal relationship beginning at the summit, this could turn into a professional partnership that pays off over time and makes your patience worthwhile. The best way to do this is to relax and merely aim to make friends rather than to make money in the early stages. Remember these investors are approached constantly and are being pitched all the time, but they do business based largely on personality. Aim to be someone they enjoy talking to rather than someone trying to sell something to them and your outcomes will likely be better.
Greeting etiquette
Always greet the most senior person in the room first when you or they enter. This is more about respect for age and authority than a strictly hierarchical custom. When shaking hands, allow the more senior person to withdraw their hand first, and this may take longer than you would expect. If you are a man meeting a Middle Eastern woman, wait until she offers her hand for a handshake before you offer hers. The same goes for a woman meeting a Middle Eastern man. Assume in each case that they may not offer their hand, and understand that this is not at all personal, but cultural.
Introduce yourself succinctly
As with any networking event, it’s important to be able to concisely explain who you are and what you do at the beginning of a conversation. Prepare a short one or two sentence summary but steer away from sales speak and don’t immediately begin talking more about your job or company. Instead, go straight into casual conversation and begin building those relationships.
Play the long game
People in the Middle East want to build trust before doing business, especially with outsiders. This is done through consistency, so there are no quick wins to be had. No quick decisions will be made, and investors will not appreciate being asked to make them. Likewise pointing out problems they may be having with their business – and how you can help – will not be appreciated as it does not convey respect. Be sure to follow up with any actions you promised after the summit, no matter how small, because this will be noted and respected.
Faith and family
Work is important but not as important as faith and family. For many Westerners, priorities are reversed, especially for people who are still climbing the corporate ladder. Never underestimate the importance of religion in the Middle East. Whether working with someone who is devout or someone who appears to have a passing interest in their faith, most people regard religion as a moral code, directing them to a complete way of life. Never challenge one’s faith or ask someone to prioritize your business over a religious belief or practice.