I have a friend who carries around a large handbag everywhere, yet never has enough room in it to fit even small things she has bought. This is because in addition to the usual arsenal of purse, mobile phone, keys and skincare products, it is filled with a number of items to be used in the case of an emergency, including a Swiss army knife, sewing kit, hand sanitiser, plastic cutlery including ‘training’ chopsticks, tissues, bandaids, rain poncho, nail clipper, torch, bottle of water, chewing gum, toothbrush, toothpaste, dental floss… She is currently investigating the various sizes of space blankets.
Apart from wondering how she copes with not having this bag on the plane when she flies overseas, I also started pondering the nature of risk.
The problem with risk is that sometimes it clouds the huge potential for gain. The media is often guilty of blowing things out of proportion, so when a country like Greece falls into economic trouble it can be difficult for outsiders to even think about that market without dredging up current prejudices.
The solution is to think laterally. For example, are there any opportunities for the Australian financial services sector in Greece? It doesn’t hurt to do some research. While it may turn out that your business doesn’t suit a particular market, it’s best to know for sure and not miss an opportunity.
Doing business overseas is a risk, but so many people do it because the rewards can be great. The information we now have about international economies has somewhat minimised the market risk for businesses. Take advantage of this information as often as you can afford the time (or money). After all, why burden yourself with an emergency kit when you have a friend who carries one?
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