Earlier this summer, I revealed to you that my uncle, to whom I turn for infinite advice, was coming in from China for the summer.
My uncle always got a kick out of how I took after him in spirit and took to traveling from an early age and visited many a locale.
Now he gets a kick out of my passion for marketing and entrepreneurship and we sure did have our share of discussions on strategy while he was in.
On such strategy is just too good for me not to share with you.
It’s something that’s been on my mind for some time now, especially after reading a piece on inverted immigration.
So how about we start with the inverted immigration thing and work our way up to the strategy.
I don’t know how long ago it was now, but I’d once read a piece that documented how second-generation Indians were moving to the motherland upon completing their education in the west.
This was to the dismay of their parents, who had worked tirelessly to get them OUT of India and build better lives for them in North America.
The parents simply couldn’t understand how their children would want to live in a “place like that”.
But things change.
While there’s still a lot of poverty in India, the middle class is emerging very, very fast.
The India of today is not the India the parents had abandoned.
Let’s take a look at my Portuguese neighbors.
They came over in the 60s.
Back then, Portugal’s economy was only beginning to gain its bearings and North America had a lot more to offer to someone wishing to live a more secure and rewarding lifestyle now and not later.
Some of these people are now selling up their western assets and returning home.
Riding The Tide
If you were to believe every word out of a marketing guru’s mouth, you’d think that North America’s online marketplace was lined with gold and the money is just falling from the sky.
Truth be told the gold rush in North American markets is largely over.
Most of the low-hanging fruit has been picked.
That’s not to say there isn’t plenty of opportunity – there most certainly is, but it’s not what it used to be.
If you’ve been following the There Will Be Bounty series, then you know exactly what I mean.
A bunch of people were in the right place at the right time and got the best of what there was to reap.
Today, the emerging markets are where it’s at – and those who get in early will reap the big windfalls that were had at the turn of our still nascent century.
Take Amazon for example – it truly is one of the easiest channels to sell your wares on, but, like with all good things, the window is starting to close.
However, if you do a study of some of the items listed on the Amazon Top 100 in the U.S., you’ll find that these same items only have a splinter of U.S.-level competition on other markets.
So then, where am I looking to expand?
Three countries: Germany, France and Brazil.
For the time being, Amazon in Brazil only sells books and ebooks, no other merchandise, however, Walmart Brazil has its doors wide open to 3rd party sellers.
As for Germany and France, the lower rate of competition means you can still get premium prices for quality products.
Of course, you’ll have a few obstacles to hop over:
1) Language barrier – not really much of a problem anymore. With a combination of Google Translate and some feisty players on Elance, you can be totally oblivious to another language and still operate very effectively.
2) New rules to learn – ah, governments. Each one robs us of our capital and autonomy in their own special little ways. In playing ball overseas, you’ll have to get up to speed fast on new regulations.
3) Creating a moat – I practice what I preach and will be implementing the same systems abroad as I did on the homefront to combat low-ballers and market shifts…
…the good news about that: since this system involves using WordPress websites, some of the domains I’ve been picking up in these foreign markets has been nothing short of mind-blowing.
Some of the best Dot.Coms you can imagine are still up for grabs.
So if you feel like your banging your head against the wall, trying to make progress in North America…
…you might just want to read a couple of immigrant stories that will show you what happens when you’re willing to wade into unfamiliar, but lucrative foreign territory.
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