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S2E9: How to Sell Into Mexico: Keys to Successful Expansion


WHO: Ramiro Velasco

RECORDED: February 2024


LINKEDIN: /ramiro-velasco/

Featuring an insightful interview with Ramiro Velasco, founder of GoAvance, this episode unfolds the roadmap to navigating the challenges and seizing the opportunities within the Mexican market. From Ramiro's personal journey of founding GoAvance to the broader spectrum of benefits that Mexico offers to international businesses, this episode is a treasure trove of knowledge for companies looking to cross borders in their business endeavors.

The episode sheds light on the practical challenges of setting up a company in Mexico, such as navigating the local regulatory landscape and understanding the unique consumer behavior. However, it doesn't stop there. It goes on to explore the manifold benefits that await businesses, emphasizing why Mexico stands out as the perfect destination for expansion. The discussion around the best channels for breaking into the Mexican market, notably through marketplaces, alongside the role of local payment solutions, provides listeners with actionable insights into crafting a successful market entry strategy.

Episode Highlights:

  • 00:00 Introduction
  • 01:35 Ramiro's journey into funding GoAvance
  • 07:16 Challenges of opening a company in Mexico
  • 12:29 Benefits of companies expanding into Mexico
  • 19:00 Best channel to break into MX: marketplaces
  • 20:02 Mexican payment solutions
  • 23:20 Influencers and SEO for client acquisition
  • 25:01 Local consumers trust influencers
  • 28:09 A success case: novelty TikTok products
  • 34:01 Tips for breaking into Mexico: work with margins and study competitors
  • 37:00 There's still room to explore new niches
  • 39:19 Anecdote of culture clash because of language