Enjoyed this post on a few key business tips from Lebanon.
In short: Although few in number, Lebanese immigrants are overrepresented among the world’s wealthiest.
Population-wise, it would be like saying that many of the industrialized world’s elite are somehow from Houston, TX.
Keys takeaways:
#1.
Speak multiple languages.
This is about the transferability of your skills. Could you live and work and do business just as easily in the USA, Europe, or Dubai? Many Lebanese can. You also have the ability to do business between countries. This puts you in a different class of investor, entrepreneur, or tradesman. Make languages part of your talent stack.
#2.
Learn to thrive inside of chaos and upheaval.
Inflation, civil war, and business loss are terrifying possibilities in much of the industrialized west. But in the Levant, this is just another decade. Maybe we should ask instead “What does this disaster make possible?” This point goes with #3.
#3.
Keep a cash reserve, to take advantage of #2.
A liquid reserve (and/or a diversification of income) allows one to stay opportunistic when a massive change slaps the world in the face. For example, say your investments in oil are kicking off great returns. Suddenly OPEC negotiations fall thru and the price of oil falls to a 20 year low. This is an issue if you are 90% invested in oil. But if you have large liquid reserves (or high income from other areas) – this is suddenly a once-in-a-lifetime buying opportunity.