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Dokish

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Hi everyone!
This is my first post so firstly want to introduce myself. I'm 21 years old student from Ukraine (graduating this year). And I decided some years ago that won't work 5/2 (etc.) for all my life. But didn't really like the idea to start a business. After reading the first MJ's book (less than month ago) and a lot of stories and posts here from different cool people (really like a lot of you even knowing that spent here not so much time, but I still read enough) decided to run it. So I am diligently developing and looking for opportunities.
But Ukraine is going through hard times and its economy, therefore, too. So I doubt whether I should try to do something here without knowing the possible outcome, which does not depend on me, or try to create a business aimed at a different market (without knowing the needs and companies)??
P.S. I'm here not to complain about the situation. I really want to succeed and ready to spend time studing the market of another country or region if needed. That's why I want to here your thoughts and suggestions about it. Hope this doesn't sound strange or politically oriented (hate discussing politics).
Thank you!)
 
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Stargazer

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Personally I think it is difficult to understand the market in another country without being there.

UK/US/Can/Aus/NZ probably have an understanding of each other better than most other country combinations I can think of.

Yet Best Buy and Radio Shack and Walmart failed dismally in the UK. And Tesco (largest grocers in UK) failed miserably in the US. Target (US grocers) failed in Canada. Starbucks failed in Australia.

The list goes on.

Some of it is due to timing eg just before the 2008 financial crash, but a massive factor was the lack of understanding of cultural nuances and it's the latter that is hard to understand from a room in another country.

They understand the broad strokes but miss the little things, unwritten things.

That was my roundabout way of saying; if nothing else go travelling to other countries to have some appreciation at the very least.

Lastly, there is nothing wrong in starting something in Ukraine.

Think about if you and some friends wanted to start a band.

You wouldn't wait until you could go to US or UK would you? (Other countries are available :smile:)

You would start where you are. You would learn many things that give you the knowledge to take with you eg Hiring a van, having the right equipment and knowing how to set it up efficiently, booking gigs and rooms etc etc.

So that is no different from the examples that failed above.

They knew exactly how to operate. It was the failure to make the small adjustments that scuppered them.

Dan
 
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Dokish

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Personally I think it is difficult to understand the market in another country without being there.
Hi, Dan.
Thank you so much for your reply! Totally agry with you here.
Other countries are available :smile:
Unfortunately, for us only through the Internet now :)

But still, really appriciate your suggestion and will try to extract all possible knowledge and experience from the situation I have
 

Icesummer

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Hi everyone!
This is my first post so firstly want to introduce myself. I'm 21 years old student from Ukraine (graduating this year). And I decided some years ago that won't work 5/2 (etc.) for all my life. But didn't really like the idea to start a business. After reading the first MJ's book (less than month ago) and a lot of stories and posts here from different cool people (really like a lot of you even knowing that spent here not so much time, but I still read enough) decided to run it. So I am diligently developing and looking for opportunities.
But Ukraine is going through hard times and its economy, therefore, too. So I doubt whether I should try to do something here without knowing the possible outcome, which does not depend on me, or try to create a business aimed at a different market (without knowing the needs and companies)??
P.S. I'm here not to complain about the situation. I really want to succeed and ready to spend time studing the market of another country or region if needed. That's why I want to here your thoughts and suggestions about it. Hope this doesn't sound strange or politically oriented (hate discussing politics).
Thank you!)
Hey Dokish, your poster really resonates with me!

I'm also into starting my own business and found the Millionaire Fastlane super inspiring.

I get what you mean about not wanting to work a 9-5 forever. Sure, Ukraine is in a tough spot right now, but it's going to be rebuilt, and that's a fantastic opportunity of social entrepreneurship. What do you think?
 
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