Entrepreneurship In Developing Markets

Wars that threaten to become global, staggering public debt levels, rampant inflation in developing nations, uncontrollable immigration, demographic collapse in the north, the rise of authoritarian regimes - isn't it a scary time to think about venturing out into developing markets?  Does freedom really work in the long term?  Lincoln and Dornubari discuss these problems in a global view resulting in some surprising conclusions and points of light.

Lincoln's book, "A Small Balance of Favors", provides the discussion points for this episode.  What role does guilt play in your motivation and decisions?  Are you listening to what people do or what they say?  Why do you choose to stay in the developing world when it can be so hard and unpredictable?  Some real world examples that might sound familiar to you...

Dornubari spent the weekend at a conference with tech startups and investors and shares his experiences on the podcast.  How many of the attendees were flying the AI flag and how many were real businesses?  You might be further along than you think and doing better than you feel, by comparison to the rest of your industry.  Dornubari outlines some of the benefits of getting out of your silo and interacting with your industry peers from around the world.  

Whether we like it or not, governments and their policies have a big impact on our business.  Dornubari uses the example of African governments' taxation of the tech sector as a brake on business and a cause of brain drain.  Lincoln talks about how government price controls have driven out solar mini grids, to the detriment of everyone involved.  Why do governments make policies that ultimately hurt their populations and drive away investment?  Does that happen even here in the United States? 

This week finds Lincoln in Cairo and so we discuss his experiences around North Africa and the tenor of travel these days.   The impact of devaluation - good for a consumer who earns dollars, but ruinous for many in the developing world, where the impact ranges from cost of rent to the closing of schools.  We wind up with some discussion of getting ourselves out of the comfort zone and how much money is enough, anyway...

What does a customer look like?  How do you find good deals and get them to move forward?  What are some dead ends and traps to avoid?  Lincoln and Dornubari share their tips for new business development in the developing world and explain ways the process might differ from customer acquisition in the US or elsewhere.  

Special guest Ahmed Quereshi, Ph.D., international entrepreneur, and US Navy captain joins us to discuss security threats and personal safety in the developing world.  It becomes a wide-ranging discussion as Ahmed shares his story with us and helps us understand what business means to him and his family.  We discuss impressions of security and safety, particularly in the Middle East, his area of specialty.  He outlines underlying cultural and political changes that are making the region an interesting opportunity for entrepreneurs.  

After a short review of African news, Dornubari and Lincoln show how difficult communication can be in a continent with thousands of languages.  Most Africans speak at least one local language in addition to the colonial language of their country.  But comprehension can be hard, even when a colonial language is shared.  What are some good workarounds and how can you make sure you are understood?  Are you ready for the humbling challenge of communicating outside of your comfort zone?

We do a great disservice when we lead people to believe that a startup is spontaneous and takes little preparation. In this episode, Dornubari and Lincoln reflect on their journeys and how elements as far back as their childhood were stepping stones to their current businesses. They guide us through the experiences and challenges that were necessary preparation for success in business, including the many business ideas that never saw the light of day. Finally, they identify some key skills or learnings necessary for success in entrepreneurship.

Recorded on Good Friday, in the middle of Ramadan and the third day of Passover, this episode focuses on the important role of religion in daily life in developing markets.  After understanding the obvious Abrahamic religions in Africa, it is time to discover the significant role of so-called animist beliefs.  Personal relationships and business decisions can be swayed as much by concerns about witchcraft as by more obvious factors.  Dornubari shares his feelings about this and Lincoln shares some experiences with vodun in Benin.