March 24, 2011


Since the essay I wrote a few weeks ago about Bucharest has attracted a lot of your attention, I decided to write an essay on each city I give seminars in.

Last Tuesday I had a seminar in Istanbul, the city I was born in. Although it is not easy to live in it, Istanbul is a unique metropolis for me which I cannot give up for any other city.

At the end of my seminar a businessman came to me and told me that he liked our approach very much. He was actually seeking an acquirer for his company but he was not willing to make any payments for consultancy services until an agreement was to be finalized with a potential acquirer. He sincerely wanted to obtain my comments on this view.

I hear about such an opinion very often. To comment on such views, I just ask a few questions: “Are there any doctors to whom you can say that you will pay their consultancy fee only after you think you’ve gained your health? Which laboratory accepts to receive payment from you only if the test results are in line with your expectations? Which school declares that they will not ask you to pay the tuition if your child cannot pass his class?”

Consultancy in my field, like in many others, is a hard job. As far as I am concerned, we are marketing our clients’ companies but the right to sell them belongs exclusively to our clients.

Finally, I told the businessman: “If you want competent people to work for you, you have to compensate them, irrespective of your final decision to sell your company shares or not.”

If Galo Nero is my favorite restaurant in Bucharest, Feriye is one of the restaurants topping my list for Istanbul. I could never refuse their fish plates. :)

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