• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott, Melinda French Gates, and Lauren Sánchez Bezos are rewriting the rules of billionaire giving—one quietly, one strategically, one very publicly

2

After donating $48 billion to the Gates Foundation, Warren Buffett is quietly ending one of the biggest philanthropic relationships in history

3

Current price of gold as of July 14, 2026

1

MacKenzie Scott, Melinda French Gates, and Lauren Sánchez Bezos are rewriting the rules of billionaire giving—one quietly, one strategically, one very publicly

2

After donating $48 billion to the Gates Foundation, Warren Buffett is quietly ending one of the biggest philanthropic relationships in history

3

Current price of gold as of July 14, 2026
Most Powerful Women

What Working in Moscow Taught Me About the Power of Persistence

By
Perry Yeatman
Perry Yeatman
and
Bethany Cianciolo
Bethany Cianciolo
Down Arrow Button Icon
By
Perry Yeatman
Perry Yeatman
and
Bethany Cianciolo
Bethany Cianciolo
Down Arrow Button Icon
August 28, 2016, 1:00 PM ET
Moscow, Pedestrian street on the Red Square
Russia, Moscow, Pedestrian street on the Red Square listed as World Heritage by UNESCO.Sylvain Sonnet — Getty Images
Add Fortune on Google for similar content.

The MPW Insiders Network is an online community where the biggest names in business and beyond answer timely career and leadership questions. Today’s answer for: What’s the scariest work challenge you were faced with and how did you overcome it? is written by Perry Yeatman, CEO of Perry Yeatman Global Partners.

Back in the mid-1990s, I was chosen to move to Moscow to help lead public education and information efforts related to Russia’s mass privatization, the largest asset transfer between a government and its citizens in history. The mere act of moving to Moscow would’ve been scary for most people—the place had justly earned its reputation as the new “Wild, Wild West,” after all, with lawlessness widely accepted as the norm. But for me, the scariest thing wasn’t what I knew about where I was moving to. It was what I didn’t know about what I’d be doing there, as I had absolutely no prior experience or knowledge in privatization.

Thankfully, my company was really good at information-sharing, and I was able to read the firm’s “privatization primer” on the plane to Moscow. So by the time I landed, I at least had a clue.

Still, though, I had a nearly all-Russian team and was required to produce materials and run meetings in Russian—even though I didn’t speak or write a word of it when I arrived. And as if that wasn’t enough pressure, my ego was undoubtedly exaggerating my own importance—I felt the fate of the nation was partially in my hands, and I really wanted to help. Even to someone like me who has been called “fearless” on more than one occasion, this situation was daunting.

See also: What Giving a Presentation I Knew Nothing About Taught Me About True Confidence

So, what did I do?

First, I acknowledged what I didn’t know. I wasn’t a privatization expert or economics whiz, and I didn’t pretend to be one. (Thankfully, there were plenty of those already in Russia by the time I arrived, so that expertise was widely available elsewhere.)

Second, I quickly figured out what I did have that was unique, valuable, and applicable to the situation: In this case, it was my experience running integrated public education campaigns on important issues—albeit on subjects like organ donation vs. economic reform. But I found that the communications principles were transferable.

Additionally, having spent the prior three years working in Asia-Pacific, I had learned how to manage far-flung, multinational teams—critical when you’re trying to cover 11 time zones and dozens of sub-cultures. I also knew how to get things done, despite the fact that the rules were being written or re-written on a near-daily basis. Finally, as an American, I understood how to work with the funder (USAID, an arm of the U.S. government).

So while I wasn’t a subject matter expert, all of these other skills and capabilities more than made up for that. In fact, I even parlayed my ignorance into a benefit at times, especially when trying to assess if a particular program would resonate with the Russian public. I figured since they didn’t know what privatization was either, if I could understand something, then they probably could too. Combined, these insights and assets enabled me to provide real value for the funder, the client, my firm, and my team.

 

Third, I had the confidence to ask for help when I needed it. And I did—daily. Whether it was how to buy TV time for the soap operas we were producing or how to find a Russian language teacher, I asked. I learned. And, mutual respect grew.

Finally, and I think this lesson sometimes gets overlooked, I just never gave up. I remained dogged and determined—even in the face of obstacles and setbacks. I was flexible in approach (within the bounds of the contract and the law, of course) regarding how we got things done. But I was unrelenting in my drive to accomplish what we set out to do. And, in the end, with the help and support of a few other wonderful expatriates and lots of talented Russians, by 1994, we had helped the Russian government successfully complete voucher privatization with more than 98% of the population participating—one of the key metrics we’d initially been hired to deliver. At the time, it was deemed a great success.

Since then, the extreme consolidation of wealth has caused many Russians—and non-Russians—to question the benefits of this mass privatization. And that is honestly one of the bitterest pills of my career. But back when it was happening, I was really glad I had stuck it out, found a way to contribute, and beat the odds.

About the Authors
By Perry Yeatman
See full bioRight Arrow Button Icon
By Bethany Cianciolo
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
C-SuiteFortune 500: Titans and Disruptors of Industry
FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
By Fortune EditorsJuly 15, 2026
2 hours ago
Jon Gray
SuccessCareers
Blackstone’s president tells Gen Z that just being nice could land them a promotion because ‘people want you to win if you treat them in a good way’
By Preston ForeJuly 15, 2026
2 hours ago
sb
Commentarynational debt
The national debt is over 100% of GDP and most of Congress is ignoring wishes to rein it in. It’s time to amend the Constitution
By Steve H. Hanke and David M. WalkerJuly 15, 2026
3 hours ago
orange
North AmericaWorld Cup
‘Special thanks to the Scots for drinking all the beer’: Mass. governor seals World Cup with welcoming ceremony for an orange traffic cone
By Leah Willingham and The Associated PressJuly 15, 2026
3 hours ago
NordicTrack X24 Bike Review (2026): Expert Tested
HealthDietary Supplements
NordicTrack X24 Bike Review (2026): Expert Tested
By Christina SnyderJuly 15, 2026
3 hours ago
khalil
LawPalestine
Palestinian activist cites the Ku Klux Klan Act in suit accusing pro-Israel groups of conspiracy against student activists
By Jake Offenhartz and The Associated PressJuly 15, 2026
3 hours ago

Most Popular

MacKenzie Scott, Melinda French Gates, and Lauren Sánchez Bezos are rewriting the rules of billionaire giving—one quietly, one strategically, one very publicly
Newsletters
MacKenzie Scott, Melinda French Gates, and Lauren Sánchez Bezos are rewriting the rules of billionaire giving—one quietly, one strategically, one very publicly
By Sydney LakeJuly 14, 2026
1 day ago
After donating $48 billion to the Gates Foundation, Warren Buffett is quietly ending one of the biggest philanthropic relationships in history
North America
After donating $48 billion to the Gates Foundation, Warren Buffett is quietly ending one of the biggest philanthropic relationships in history
By Marco Quiroz-GutierrezJuly 14, 2026
23 hours ago
Current price of gold as of July 14, 2026
Personal Finance
Current price of gold as of July 14, 2026
By Danny BakstJuly 14, 2026
1 day ago
'He found their weakness. It might have been sex. It might be power': Warren Buffett stunned by Epstein pull as he snubs Gates Foundation
Banking
'He found their weakness. It might have been sex. It might be power': Warren Buffett stunned by Epstein pull as he snubs Gates Foundation
By Josh Funk and The Associated PressJuly 14, 2026
1 day ago
Current price of silver as of Tuesday, July 14, 2026
Personal Finance
Current price of silver as of Tuesday, July 14, 2026
By Joseph HostetlerJuly 14, 2026
1 day ago
Current price of oil as of July 14, 2026
Personal Finance
Current price of oil as of July 14, 2026
By Joseph HostetlerJuly 14, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.