Gary Hoover is an entrepreneur, writer, speaker and educator. He is the founder of BOOKSTOP and Hoovers, Inc. This is part two of my article series with Gary. In my last post, Gary discussed how the United States will inevitably change and benefit from Mexico. Here, Gary explores Mexico further as well as the pros and cons of business in other countries.
Curt-How can a small company profit from Mexico right now?
Gary-First, owners of small companies have to visit Mexico and begin to develop an appreciation for the country, the culture and its people. Start learning a little bit of Spanish. There are so many great cities in Mexico, like Oaxaca, one of the most artistic cities on earth with amazing food, as well. Oaxaca is fairly cheap to visit, with nice hotel prices in the $40 range. Or go to Merida. It’s next on my list. Mexico City is not only safe, but it’s one of the most underestimated cities on earth. I understand Mexico City has more museums than any city on earth. Last time I visited, there seemed to be a museum on every corner! I can’t rave enough about Mexico City.
If your small business is considering doing business in Latin American, all my advice regarding Mexico easily applies to other Latin American countries, as well, like Guatemala, Costa Rica and Panama. I know a business that is starting to transfer their outsourcing operations from India to Guadalajara. That way, if they need to visit, they can be in the same time zone and even fly down once a week if need be. Also, Latin America may be a new source for merchandise other than China, since Chinese prices are rising.
Curt-Do you think that Africa is the next big thing?
Gary-Apparently, everybody believes that. I’ve also had my eye on Australia as a country that has a lot of economic potential. Australia is in the perfect spot globally. It is so close to Asia and also, Australians speak English. That seems like an amazing combination. I’m very optimistic about Australia in the long term.
Curt-Australia’s population is comparable to Texas.
Gary-But Australia also has a lot of land. Their population could grow to 100 million people and they would still have plenty of land available.
Curt-But for you, Mexico still reigns supreme.
Gary-Exactly. I think there are huge opportunities in obvious countries like China and India, as well as Malaysia, Indonesia and Turkey. But Mexico matters more to me. I believe our odds of having a great future are greatly improved if Mexico is successful, and our situation will worsen if Mexico goes downhill.
It was great to interview Gary Hoover about business around the world. Let me know which post you liked better and how you expand your business worldwide.
CURT FINCH has more than two decades of software development and distributed workforce management experience. In 1997, Curt created the world's first internet-based timesheet application and the foundation for the current Journyx product offering. Curt has a B.S. in Computer Science from Virginia Tech. His book, All Your Money, is available on Amazon. @curtfinch