#25 Plan Carefully Before Starting Business in Your Country of Birth - a podcast by Dr. Eric Tangumonkem

If you don’t know where you are going, every road will get you nowhere. ―Henry Kissinger

By default, most immigrants feel more comfortable starting a business in their countries of origin, especially with family members. Unfortunately, these ventures fail because of many factors out of the control of both parties. Therefore, immigrants must move slowly and avoid making the costly mistakes others have made before them.

You are going to have pressure both here and from those in your country of birth to show your “love for country” by making some investments. Your friends and relatives will bring to your attention what others in the diaspora have done and are doing to “develop” the country. They will insist, and if you do not do something, people will say that you have abandoned your roots and are not showing appreciation for the hand that fed you.

They are appealing to your emotions, and most people fall for it and engage in projects without proper evaluation and planning. The result is a colossal failure.

If you must run a business in your country of origin, then do it properly. Make sure that it is a business, not a charity venture.

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