Operation “Fund, support, & motivate a foreign entrepreneur” off to a good start.
A while ago I did a post on doing ads on very foreign country craigslist.org’s and so far I’ve only gotten 3 replies offering $5000 USD non-payback loan for partnership in foreign based business.
Two responses I got did not follow instructions of what I asked in the ad, actually known of all 3 did, but the third response was much more open to his business and explaining on how my investment in him would be a good investment. His name is Mr. Ryan, actually this is his baptised name in India, or else we can call him Mr. Narayan. Since I received his reply from a Delphi, India classed financial post on craigslist.org we have transferred to each other over 100 emails discussing this business, how funds will be used, bank accounts, partnership, incorporating, and how his business can grow.
Doing essay research papers, trading stocks, and reading Alan Greenspan’s economist books I know India is a fast growing and populating country, although behind us currently, could still emerge as a big consumer player. I’ve never been to India, but once I understood his business I immediately wanted to invest in him and be a part of it. Mr. Ryan does job outsource staffing needs for business outside or coming to India. Hello! This is huge with India very talented technology workforce and many more seeking work his business made complete sense. He told me recently his previous partner left him and took out much of the money built up from doing his business. His family also had some medical issues that he had to pay for so now he needed money to get it going again. It is a risk believing him. I haven’t even spoke to him on the phone yet! But all you can do in the business world is going on trust first then work yourself into a contract, incorporate, get lawyers in on the act, and build the business more solid as you move along. This is exactly what I did. Now we currently have a partnership contract 49% owned by myself and 51% owned by him since the majority of all the business will be done by him and any staff he hires in the process. I felt that was fair since I incorporated the business in my name since he is not a U.S. citizen and I’m not an India citizen. So the majority of the trust will be with me also as I conserve any capital made and any assets placed into the corporation. We will have seperate bank accounts to split the income 50/50% and all business expenses paid out of a seperate business account. So far I’ve done all this in about 2 weeks. I have to admit communicating just through email can be cumbersome at times, but I managed to get everything going. I’m also buying him a new fast computer from Dell to use it for VOIP calls, his IT solutions services, and staffing services. So far I’ve put around $1100 USD into his entrepreneurial activities. I’ve found it very difficult also to buy anything and then ship it to his city in Dehra Dun, India. Even though its a emerging industrial technology city it is run by the India state government so as for the computer to not have problems complicated he is going to pick it up shipped to a friends house in Delphi, India. It seems each state government has its own rules. I’ll have to learn more as I go along how to get around these rules. Now that we are incorporated it should help being a business entity, not a foreign outside individual entity.
Mr. Ryan is 33 years old and holds a MBA and has been working in the technology industry and human resource staffing for the past 15 years (or at least from what he tells me). Only time and trust will tell if this small capital venture will work out for the both of us. Myself receiving some new income and stake into something I’d actually like to really work with later and for him giving him the resources, tools, and capital to get his business fully functional again in a booming country.
So far I’ve incorporated us in Hawaii, USA as Meyer & Ryan International Corporation.
I, being Director of U.S. Operations and Mr. Ryan being Director of India Operations.
I’m thrilled and so excited! I will also be blogging the business and India’s industry news on outsource staffing for future job and company seeking clients through our blog at http://meyer-ryan.blogspot.com and soon by Monday night will have our company website for companies to post needs and job seekers to post there information to connect with employers at http://www.meyer-ryan.com. If Mr. Ryan is as ambitious as I am and of course once we can speak on the phone (due to me being at sea) I’d like to possible sell, import, and export into India. There are so many untapped consumers ready to buy what the U.S. citizens have to increase their standard of living as job incomes rise, the currency rises against ours, and the government becomes more capitalistic. You can email us at email@example.com if you need any outsourcing needs for any sized business.
If you have ever worked with foreign business people, have a business overseas, or import/export in India please comment. I’d like to hear your input if I’m doing the right thing. Like anything else I’ve tried I’ll do my best to help Mr. Ryan become a success. If it doesn’t work out then big deal I lost -$5000 USD. It is a lot of money, but I feel money well invested into a good plan.