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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.

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International Entrepreneurship

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  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

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