Opportunity In An Unlikely Location – Kiev, Ukraine
Where is the best place in the world to be successful?
This is obviously an impossible question to answer. There are just too many variables to take into consideration.
However, I’d bet that most people would overwhelmingly suggest the best places to do business are the United States, Hong Kong, Singapore, Australia, Canada, and the UK.
Honestly, I wouldn’t really disagree with that list. I’d add a couple other locations, but in general these are the countries where businesses can flourish the most. This leads to success and high qualities of living for the general population.
As great as all these successful countries are, there is another side to the story. The US, for example, can be very expensive and is extremely competitive. If you want to plop yourself in the middle of Silicon Valley, you’ll be looking at a minimum of $1,000,000 to buy a house and you’ll be up against the most successful businesses in the world. There is a high barrier to entry.
Can you ‘make it’ in the US? Absolutely.
Can you ‘make it’ in a country with a lower cost of living and less competition? Absolutely.
As an individual, it’s important to understand this concept. It’s important to realize that the first step to success is to make sure you are setting yourself up properly.
By putting yourself in a location that gives you the greatest advantage, you can obtain your goal much easier.
I could go on and on about this concept (which a surprisingly few amount of people actually execute), but instead I’ll just share a quick example.
What images are brought to your mind?
Probably something like this: Source: BBCIn reality, it’s a lot more like this: Now, I’m not trying to make Kiev sound like it’s some fairytale land. I could cherry-pick all kinds of depressing news and statistics. The country of Ukraine definitely has a lot of problems that it needs to deal with.
In fact, I’m not even going to attempt to explain the situation that the country is currently in. Stuck between a Russia and US power-struggle, the details and historical emotions are far too complex for me to even understand.
But, as confusing as all of the politics (and corruption) is, there is still a ton of opportunity in Ukraine.
In fact, there are a number of IT companies that are either headquartered or have offices in the country. Many of those companies are some of the top ranked in the world.
On a smaller scale, for individual entrepreneurs, the opportunity is even bigger.
Tax rates are extremely attractive and the cost of doing business is unbelievably low compared to tech hubs such as San Francisco.
In addition to all of that, the quality of living can be quite high for a foreign entrepreneur who wants to spend part of their time in the country. Low rental rates, fast internet, and hundreds of cafes sprinkled throughout the city make Kiev an entrepreneur’s dream.
I’ve got a lot of information coming about this place, but for now I’d recommend you seriously think about Kiev if you’re looking for a unique opportunity.
And, if you’re holding dollars or euros, I’d highly suggest you think about a visit to Kiev in the near future. You can have a high quality vacation for a fraction of the cost of the rest of Europe.
Stay tuned for some more specific information about this place.
In the meantime, check out this article that one of my best friends published today. Peter, who’s living in Kiev right now, gives some interesting insight into the city.