GSM Medica Master Class Clip 1 - International Sales Growth

30 Oct 2022 · 1 min

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In this master‑class excerpt, Zach Selch recounts a Q&A where an audience member asked which Middle Eastern market to enter with limited funds. A speaker, a diplomat from Morocco, promoted Morocco citing a new treaty that would ease repatriation of profits. Selch challenged this by highlighting the stark difference in medical‑device market size—over $2 billion in Saudi Arabia versus under $200 million in Morocco—exposing the diplomat’s bias toward his own country. Selch concludes that one should be skeptical of seemingly well‑positioned advisors whose recommendations may be driven by personal or political incentives rather than objective market potential.

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There was a guy on stage talking about markets in the Middle East and so on, and somebody from the audience raised their hand and asked a question and said, so I only have enough money to go into one market in the Middle East. Which market should I go into? And this guy said, well, you know, I'm a diplomat in Morocco and we just signed this treaty with Morocco. It'll make it easier for you to repatriate your money after taxes. And there are all these good reasons because of this treaty that you should do business in Morocco. And I raised my hand. I said, I have to ask this. I said, market for medical devices in Saudi Arabia is over $2 billion, whereas it's less than $200 million in Morocco. Are you saying that this 3D is actually worth a tenfold difference in market size? He just sort of fumbled around. So my point being, you don't always want to trust people who seem to be well positioned, who are telling you what markets to go into.