Digital nomads and expats already know the thrills, challenges, and rewards of branching out and spending time in other parts of the world. They are not settlers, but explorers. They boldly go for no better reason than to see what is over the next horizon. If there were no other perks to travel, that would be reward enough.
One of the oldest reasons for exploration is to seek one’s fortune. For the very lucky, the US is a great place to find that fortune, it attracts about a million people every year. Not everyone who comes here is seeking fortune. Many are just hoping to escape extreme poverty and persecution. Since before it was a country, America was seen as the land of opportunity.
That said, not everyone finds opportunity, here. Many U.S. natives find financial ruin instead. 70% of startups fail. That is a staggering number. The flow of people who cross America’s borders seeking opportunity goes both ways. There are just as many opportunities to be found abroad. There are good business reasons why expanding your business to other countries, or moving it altogether makes sense. Here are a few:
More Possibilities for Manufacturing
The US has many strengths. Manufacturing is not one of them. Here, manufacturing can be prohibitively expensive. We also lack much of the critical infrastructure needed for the type of manufacturing one can find in places like China. International relations with China are not at their best. There are other good reasons why China may not be your first choice.
For many Mexico manufacturing is an ideal choice. If you want to stay close to the US, it hardly gets closer than Mexico. You will save a fortune on travel. Business visas and passports should not be a problem. NAPS put it this way:
For companies manufacturing in China, Mexico manufacturing offers similar direct labor cost, a significant reduction in transportation costs for raw materials and the ability to incorporate just-in-time manufacturing practices into your current supply chain.
If your big idea requires fast, flexible, and financially sustainable manufacturing, you have good reasons to look abroad. Manufacturing is available across a wide range of industry types. There is no reason for your dream to fall short due to the limitations of manufacturing where you live. There are other places where your vision can come to life.
Surprisingly Good Phone Service
In some parts of the world, the smartphone is the main computer for most people. They also are not overly burdened with legacy communications technology. That means they built from the ground, up for speed and coverage. You don’t have to worry about not being able to stay connected just because you are doing business in another part of the world.
Some mobile carriers offer free calling to Mexico, Canada, and elsewhere. That is something you will not necessarily find on the major US carriers. In other parts of the world, you will also discover features like dual-sim phones are welcome. That allows you to use more than one carrier on the same phone and maintain more than one phone number. Such features not only can save you money, but they allow you to keep business and personal separate.
New Market, New Success
It could be that there was nothing wrong with your original product. It might have failed because your product was not right for the market. You really don’t need to sell ice to Eskimos. Many people in other parts of the world would welcome your innovations and not be so jaded. Many musicians find success abroad where none was to be found in the States. There is no magic formula to knowing when and where your items will be a hit. But you should not give up on them just because they didn’t find immediate acceptance in the States. The world is a big marketplace. And some part of that market is ready and waiting for you to find them.
The US is a great place to launch your vision. By all means give it a try. But don’t feel limited by its borders. You can find manufacturing opportunities in Mexico that don’t exist here. You can get international calling deals and features you won’t get from your big telco. And you will find markets that are ready and waiting for your product. The only thing separating you from greater success is a line on a map.