1 / 14

International Entrepreneurship

International Entrepreneurship. The benefits and obstacles of foreign markets. Entrepreneurship In General. Advantages Working Autonomy Challenge and Achievement in a start-up Complete financial control Disadvantages Personal sacrifices Burden of responsibility Small margin of error.

jaafar
Download Presentation

International Entrepreneurship

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. International Entrepreneurship The benefits and obstacles of foreign markets

  2. Entrepreneurship In General • Advantages • Working Autonomy • Challenge and Achievement in a start-up • Complete financial control • Disadvantages • Personal sacrifices • Burden of responsibility • Small margin of error

  3. Benefits In Foreign Markets • Ability to transplant established ideas • Vast opportunities to develop new markets • Lax restrictions on business permitting

  4. Obstacles in Foreign Markets • Scarcity of skilled/trained workforce • Language and cultural barriers • Different set of laws and practices

  5. Case Study: Platinum Properties • Founded in 2005 • Cancun, Mexico • Primary business: • Property Management • Secondary business: • Vacation Rentals

  6. Step 1: Identifying AnOpportunity • Since 2000, the number of luxury condominiums in Cancun had grown to nearly one thousand units. • Only one company had been providing management services to the existing units. • No English speaking, American owned business in the field.

  7. Step 2: Setting Up Shop • Legal Services • Business License • All Inclusive • Immigration/Work Visa (FM3) • Accounting Services • Knowledge of Foreign Owned Company codes • Reciprocal Tax liabilities with United States IRS

  8. Step 3: Marketing The Services • Websites • www.platinumproperties.com.mx • Travel networks • Flyers • Brochures

  9. Creating A Competitive Advantage • Price • Price for service was premium, higher than others • English speaking, American owned • Onsite office/Resident • Only onsite manager, only resident/owner manager

  10. Setbacks • Market • First time owners lacked prior experience • Commodity business • Lower barrier to entry • Competed with lower labor costs • Employee issues • Rule Changes

  11. Successes • Rental Superiority • Host of 2007 CIBC World Market Conference • Reputation in business community • Access to many new opportunities • Desire to do business • The Knowledge • Priceless

  12. Life After Mexico • Venture & Expansion Capital • Real estate • Established businesses • Active global investor • Mexico/Latin America • Asia • United States

  13. Contact Information Daniel A. Levin Chicago, Illinois levin_dan@yahoo.com (847) 530-3265

More Related