Entrepreneur starting a Grassroots Farming Movement @ Parque Urraca, Panama City
In my time here in Panama I have had the opportunity to meet and read about many American entrepreneurs that have made the choice to seek new markets outside of the United States. With bubbles forming and popping at an ever increasing rate in American markets leading to recession and questions regarding regulations it is easy to question the entire system and realize that opportunities outside of the United States present a greater probability of success. Many of these markets, for example Panama, offer a blue ocean opportunity where no competition exists. Looking back at this time period, I believe statistics will show a pronounced exodus of entrepreneurs that have left the United States to create ventures abroad, it is key to note that the United States Census Bureau does not keep track of how many American Citizens are living abroad. I am amazed how many of these entrepreneurs use social media to connect and create a vibrant atmosphere to work with each other and have had the luck to be invited in to the “Tropical Cowboys” group on Facebook, which is a forum to sell, barter, ask questions, and overall gain important information quickly in Panama. Need a car, dentist, or any random thing ? You will get multiple answers in under 30 minutes. It has developed into a network for entrepreneurs to help each other and create mutually beneficial value.
I have met many ex-pat entrepreneurs tackling many unique opportunities ans solving problems such as a retired tech entrepreneur turned furniture designer using the excess shipping pallets to create chairs, tables, artwork and much more. In Panama pallets are made of high quality wood such as teak and other tropical hardwoods and discarded by the thousands. They can be obtained for free or as much as 2 dollars a pallet. He is currently in discussions to distribute to California and other markets. A Peace Corps volunteer that wound up in South America and struggled to learn Spanish who’s travels brought him to Panama where running out of money he decided to start a school to teach English, failed, and pivoted into a Spanish school that has become successful and employs many locals using a unique business plan. A coffee and bagel shop owner that was disillusioned with life in the United States and has created something that had not existed before in Panama, a coffee house with wifi and food where you can conduct business or work for a few hours. He has NO competition so far!
It is very easy to get caught up in the big dreams of what is possible in Panama, but quite often the simple low hanging fruit provides the best opportunity for success and can help the local community the best. My roommates and I often are shocked with the lack of good food down here as most of the restaurants we have been to have been utter disappointments with food poorly prepared or missing ingredients. McDonald’s and KFC dominate the landscape and it is common to see lines with 20+ people at all times here – and it is not “fast food” the line moves slow, then you wait for 10+ minutes for a simple burger, fries, and a drink. Many ex-pats are opening restaurants and a friend of Kalu Yala has actually had great success opening pizza parlors, currently operating 8 locations.
I am loving my time in Panama and working away on my paper non stop with research so it is nice to take a break and freestyle a blog on some current observations.
Until next time…
Brian Clair