Lessons learned from Carlos

Carlos Slim Helú is the world's richest man by Forbes' last count. There's a reason for this. He focused on an emerging market.

Carlos didn't just have shares in emerging markets. He owned the market. Mexico's telecommunications is dominated by one man. That man does very well because of it. Therefore, rather than trying to start a small photo shop in Iowa, you should find something that's already successful in America and take it somewhere else.

When you start a business in an emerging market, it's like a boat and tide. The tide is the economy, and the boat is your business. Even when your business isn't growing too much, the economy is. When the tide comes in, all the boats rise, including yours.

You can call the shots in another country much easier than the US. You could control a monopoly in India, and command your industry there.