Today’s guest on the Prosperity Perspective is a world traveler, adventurer, and internationally successful entrepreneur. Join guest Malcolm Teasdale with host Liam Leonard for their discussion about Malcolm’s incredible business journey, from taking a chance on an idea for the sake of starting their own business to negotiating with clients across the world.
Malcolm shares the specific big homework that you should be doing before entering negotiations with a new country, why you should always be making “common sense decisions,” and the crucial questions to ask yourself about a place before deciding to expand to it.
Malcolm will also show you how he was able to enjoy his business life and now, travel the world for adventures from the Mongolian wilderness to the Bhutan Monastery.
3 Key Takeaways:
Why common sense was a big thing that set Malcom through their business.
The homework you should do before entering a new country to negotiate expansion.
Identifying what wealth really is to you and setting up an exit plan to accomplish your bucket list.
[1:47] Where Malcolm put his investments once he became financially stable
Why Malcom would have done something different early on but is happy with how things turned out
[3:53] What does wealth really mean?
Malcolm and his buddy start talking about making a product that’s a bit better than what his job is offering right now
Starting his business as co-partner
Why there was no thought of making money, but rather of starting a business while they could
“The main thing is really that it took us to a different level was expanding to international markets”-Malcolm Teasdale
15 years growing the company
“The wealth or money...didn’t happen instantaneously. It was a gradual process. We tended to do better and better and better...It was a great team effort all around. It wasn’t just the two of us. We have good employees.” -Malcolm Teasdale
[7:40] Early retirement from acquisitions
Having a story to tell people why they should buy their product
Common sense decisions
[10:28] What came next after Malcolm achieved the American dream
Buying some toys but not from a ridiculous standpoint
[12:00] The mental framework that brought them expansion success
Moving to Singapore and getting foothold from India to Australia
The one thing he did: Do your homework
“Wherever I went...I learned a little about the country’s history and the culture and the way they do business.”-Malcolm Teasdale
[15:53] The advice Malcolm would give to those with a product looking to start international expansion
Malcolm admits there was a lot of flying by the seat of their pants
“Is this really an affluent country? Are they doing well technology wise? Are they up with the rest of the western world?”-Malcolm Teasdale
Understand that the world is not all equal
“The question in business no matter where you are prevails at the end of the day”-Malcolm Teasdale
[18:36] How Malcolm coped with language barriers
Understanding that you’re fortunate speaking a language that you do that’s known worldwide
You can typically speak enough of each other's languages to get by
Just go for it
[20:33] Looking at the potential exit and planning for that phase
His 6 month due diligence period
When that day came--Malcolm never really thought he’d just rest
Wanting to travel to the places that offer adventure
[23:09] The most exotic places he’s been to
Trekking the Himalayas
Climbing to the Bhutan Monastery
Visiting the Mongolian wilderness
[24:34] The most exciting thing Malcolm’s looking forward to
His never-ending bucket list
Speaking engagements on cruise ships
About Malcolm Teasdale:
Malcolm Teasdale was born in Coventry, England and is a successful entrepreneur who spent all of his working life in the technology industry, where he made a success from creating software development companies, the most recent of which he sold to a major corporation in 2013.
He created markets in all the major continents, and sold products to customers in over 70 countries. His company received numerous industry awards for product quality, innovation, and pioneering technology, and he has spoken at many trade shows and industry events around the World.
He has traveled to over 90 countries for business and pleasure, but since retiring from the industry, now travels to the more unusual destinations in the World in search of rich cultural experiences. Think Nepal, Mongolia, Tibet, Bhutan and Borneo to name a few.
He has written several successful books about business and adventure travel, with an emphasis on history, geography, education and humor.
His public speaking engagements focus on business, adventure travel, destinations around the World and culture. Apart from the UK, he has also lived in Canada and Singapore, and currently resides in Florida, USA.
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