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In today’s ever-changing, highly competitive business climate, small startups and large companies alike are increasingly turning to outsourcing processes. Back in 2013, my own company was offshore outsourcing to four different countries: the Dominican Republic, Honduras, the Philippines, and India.
According to studies , the alternative of acquiring new customers still costs you five to seven times more than retaining existing ones. They don’t realize how much it costs in time and money to get there, and only one out of a hundred large consumer product companies around the world have ever made it.
I invested in a company whose goal is to bring low-cost computing to inner-city schools in America. At the time he had been living with his long-time girlfriend from Honduras. How about a policy that they could be guaranteed to stay if they moved to high unemployment zones and created startups there? Why bother?
Now hardcore globe trotters visit Afghanistan and Honduras to ensure their story gathers more kudos. Genuinely caring about people and making them feel your love might be the best low cost strategy we can find these days. entrepreneurship startups media business culture attention' New Book – The Great Fragmentation – out now!
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