I have some friends who are originally from various developing countries (specifically Ghana, Laos, Myanmar, Latvia, Ukraine).
I'm trying to think of ways to combine my business/finance experience with my friends' contacts in those countries to potentially start a side business with them.
I obviously haven't posted much here, but I've read this forum for a long time, and I know a lot of you have done things like this before.
Which of the following makes more sense?
1. Try to import goods into those countries (example, luxury goods to wealthy individuals in those countries). I'm sure there are certain items that wealthy individuals in these countries would appreciate, but can't easily get their hands on.
2. Try to export goods/services from those countries. For example, understand what those countries do best (cheap labor, certain natural resources, etc.) and sell those goods and services to people/companies back here in the US and other developed nations?
Any thoughts are appreciated.
I'm trying to think of ways to combine my business/finance experience with my friends' contacts in those countries to potentially start a side business with them.
I obviously haven't posted much here, but I've read this forum for a long time, and I know a lot of you have done things like this before.
Which of the following makes more sense?
1. Try to import goods into those countries (example, luxury goods to wealthy individuals in those countries). I'm sure there are certain items that wealthy individuals in these countries would appreciate, but can't easily get their hands on.
2. Try to export goods/services from those countries. For example, understand what those countries do best (cheap labor, certain natural resources, etc.) and sell those goods and services to people/companies back here in the US and other developed nations?
Any thoughts are appreciated.