There are so many new service based business ideas that will produce quick and easy revenue in the emerging markets of Southeast Asia. If you are considering starting your own business you need the advice of someone who looks at personalized, unbiased opportunities and can offer insight to the business and residency requirements in these markets. And if you are looking for tax exempt opportunities, Puerto Rico may not be your best option due to its controlling entity, the U.S. Government. Guest David Feldsoft, talks of networking in Columbia and how his competitors aren’t the big travel companies.
Key Takeaways:
Andrews Editorial:
1:46 Mastermind event in July
3:08 Upcoming E-Commerce boom in Asia
3:30 Add value to the local market to really be successful
5:34 There is a wide gap in serving local markets
7:50 Emerging economies are looking for ease of service
10:41 It’s a bad idea to try and start a new business in the U.S.
11:30 Reduce your business tax through Labuan
12:06 How do you bring in quick and easy revenue
13:40 Target niche ecommerce opportunities
13:50 Uber, a logistical fix for inefficiencies
16:05 Western leaning locals with cash
16:45 The Nomad Society is developing businesses
17:27 3 day workshop for 10 people to help build your online business
Interview:
22:26 No low cost air carriers in Latin America
23:25 From DC but I wanted to be an entrepreneur
24:38 I put money away for travel and to start my business
25:49 Relationship based business in Latin America
26:46 Responsive Service requires a 5x’s the upcharge
28:06 Columbia is central to the America’s and has a tech community
31:06 Integrating Airlines in the future
32:52 My competitors are not the companies you would think
34:45 Legally incorporated in the United States
36:30 Tech startup money still comes out of the U.S.
37:56 A big fish in a little pond in Columbia
40:31 I’m really not a pickup artist!
40:56 FB and Meetup groups helped me find people
41:52 The Nomad Society loves Medellin. Private members have an event in November
The Lightning Round:
42:22 One business – Apartment Rental Service
43:05 One country – Australia
43:40 One book – Never Eat Alone, The Hard Thing About Hard Things
44:25 One tool – Rescue Time
Listener Question:
46:40 Mannie wants to know Andrew’s thoughts on moving to Puerto Rico for tax advantages.
46:58 For Peter Schiff it may be a good option. For average people, Andrew doesn’t like it.
48:55 Moving to Puerto Rico is not cheap
50:00 The U.S. maintains control over Puerto Rico
51:33 183 days a year is the “stay” requirement
52:44 Foreign Earned Income Exclusion outside of the US
53:35 It may be a stepping stone but not a final solution
Mentions:
ForgetChina, There’sAnE–CommerceGoldRushinSouthEastAsia
Uber
PanTrek
NeverEatAlone – Keith Ferrazzi
TheHardThingAboutHardThings – Ben Horowitz
