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Published on: January 13 2023 by pipiads

Starting Dropshipping Business as Single Parent: Goran’s Story [Dropshipping In Oslo, Norway]

Hello everyone. I'm Anna from Sellvia. My today's guest is Goran Andersen from Norway, who has already tried a number of ecommerce solutions but finally chose Sellvia. The greatest news is that he got his first sales with his own marketing strategy at a pretty humble ad cost. - Goran, how are you? - I'm doing good, thank you. Thanks a lot for accepting my invitation to the interview. Could you please tell us about yourself and your background? Yeah well, thanks for having me. I'm 37 years old, a single parent from Oslo, Norway. My daily job is a production manager for Volkswagen Dealership, so I know my way around cars. Also, I've done some online courses in web design and organizational management. Сould you please tell us more about your previous experience in ecommerce before you explored Sellvia? Yeah well, I have done WordPress many times before and WooCommerce and also Shopify. who hasn't? But of course testing is good, but then in scaling it has only made me lost money. So why did you finally choose Sellvia in the first place? Because of the supplier part of it. I knew about the shipping times that most likely they cannot be guaranteed, so when I experienced that as well, I also got a little tired of doing the refunds and so on and trying to explain why customers are not showing up. Yeah, I feel your pain. I used AliExpress previously, so I know. And did you make any significant changes to your store before starting your marketing efforts And have you tried any Sellvia's services to improve your store's performance? Yeah, I realized when I got the store it seemed a little generic, you know. So I didn't think you get sales if you're not trying to get a little out there, you know. So I bought a new team and hired some people on Fiverr to help me build the brand, which I think will become very good, And also I used Sellvia services, Social Media Package and the Email Marketing. I also believe in branding these days. So what did you do to achieve your first sales in your Sellvia store? Please reveal your amazing tactik to our community. Well, it was not the sales tactik at all. It was just to get likes, subscribers to the email services. So I was hoping for sales later on, but started to— you know- the Sellvia Social Media Services. I asked them to do this as one of the first posts to have a contest which I used the landing page add-on for. It was very good and didn't need so much editing. And from there, Facebook ads, traffic campaign And, of course, every like, every engagement I got. I always message them with "thank you". I'm trying to get a conversation After the contest was done. I did two giveaways in that contest. Those two wanted to buy another product, which was very good, But then the Email Marketing, I think, came to place and I got some- you know- messages on Facebook. So, with a little discount as well, I may add, we got 10 sales in total in two weeks. So that was pretty fun and unexpected. That's great. It's just an amazing strategy and I believe that everyone can apply this strategy. So, what kind of products are you selling? What niche did you choose and why? Well, I chose the little niche, of course, because it's my- you know, 20 years of experience. I think it's the best way for me to get started. And also, I have checked Google Trends. It's very good and stable, But, as for now, we are selling- selling the vacuum cleaner, some storage organizers, some charging gadgets. hopefully there'll be more products to save for retirement. Yes, So follow your passion and you'll succeed in what you're doing, right? What can you say about managing your turnkey commerce website daily? Well, of course, I'm familiar with WordPress, but I think it's quite normal interface, but of course, it's a lot of work in the start. we have to realize that, And you know, track everything you can to get traffic. you know It's blogging, it's being active on social media, you know To tok, to anyone who grows, basically. But you need to do some steps. Does Sellvia have everything you need to make your business profitable and easy? How would you rate software from one to ten? Well, I think you're at seven, because it's a lot of good, but of course, I see some potential. Okay, thanks, We know that there is always room for improvement and we are working on it. Thanks, anyway, Many people worry about the official side of running an online store. Did you register your business officially? What are the requirements in your country? Well, since I'm not selling in my home country, it's only sales taxes, really, or income taxes, I mean, But here it's required as long as you're making money. But of course, I had my company listed. I just changed what I bring in it. Do you use Stripe or PayPal? I only use Stripe. How did ecommerce change your life overall? Well, it's been a dream for a long time, you know. So, when this strategy works, you allow yourself to read your dreams a little, but of course it hasn't completely changed yet, But it's going to right. Well, you just started right. What would you recommend to ecommerce newbies? Well, like I did when I started, you know, draw a picture of who my customers are and you know, look at other brands, sneak peek at some profiles and so on To draw that picture and describe your avatar. It's crucial, I think, because you have to understand what will trigger them, Like in every business. So, in your opinion, what's the key to success? Well, to be persistent. I think This is a business where you can't just work for one week and try to be happy - not my experience at least, But I believe that failing is your biggest success. What do your friends and family think about your ecommerce business? Just two people know about it yet, to be honest: My brother and my best friend from from college. What about your daughter? Is she your motivation? Yeah, of course she is. Of course the time freedom is what triggered me to do this. I want more than one hour in the afternoon with her, you know. Do economic slowdowns affect your, your activities or earnings in any way? Well, I can see the conversion ads are more slow than I remember them before, But I also know there's been changes on Facebook and so on. I think it's a combination, But actually I had contacts within social media who stated they can't afford it right. So I think there is a phase. yes, Any ambitious plans for the future? Well, I had a plan to make this business work and try to move it, also in my country. but also I have a fishing niche which I'm passionate about, So maybe start a second store. So what niche? Fishing outdoors. So thank you so much for meeting with me today and for telling your story. Thanks to your unique and well targeted efforts, you were able to generate ecommerce sales quite quickly, even with the brand new store. that's great. Thank you very much.

How I Made $3K Yesterday Dropshipping In One Country (Product Revealed)

so this is my shopify store and, as you can see, i generated three thousand dollars yesterday drop shipping to one country. in this video i'm gonna break down the whole strategy of how i found the product, how i'm consistently beating my competition, how i'm scaling the product, and throughout the end of this video i'm even going to reveal the product to try to be as transparent as possible. but don't go ahead and skip to the end of this video just because i said i would reveal the product, because the product is not going to make sense if you don't hear the whole strategy. and the strategy i'm going to teach you now is something i've touched on a tiny bit in the past, but it's still gonna be a ton of new information and if you're new to my channel, make sure to set aside five to ten minutes to watch this video. don't be one of the people who clicks off, because this strategy is guaranteed the absolute best go-to strategy for anyone that is starting dropshipping and currently are struggling to find winning products. or you find yourself spam testing, spending thousands of dollars testing product on facebook ads just hoping for success. if that is you, or if it sounds familiar, you got to get onto this strategy, because i found this product earlier this month and i didn't even test it. it performed well instantly, straight out of the gate. so when you follow the strategy that i'm about to teach you, you pretty much eliminate testing. so when you have a proven to work strategy, everything is probably going to work out in your favor. but i'm not going to drag it out. let's get into the strategy. what's going on? everyone? i'm henrik and in this video i'm going to break down my shopify store that did three thousand dollars in sales yesterday, drop shipping one product to one country. this video is probably going to be one of the more valuable videos on my channel, so make sure to watch it. but, as i said, i'm not gonna drag out the time, so let's get into it. so i was actually running this product and stored on the brand new ads manager. i didn't have any advantages. i had no pixel, i didn't have a good or warmed up ad account in any way, so i realized that there will be zero chance for me to break into the us market or to drop ship to the top five countries, and i constantly see beginners stay in this loop forever. they are drop shipping to the top five countries: canada, australia, new zealand, united states and united kingdom. i just had to reboot my brand there real quick. but those are the top five countries and when you drop ship to them, especially in 2022, you're gonna have an extremely high cost per click and your ads is not really going to reach anyone because it's just going to be so expensive. and when you don't get rich because it's super expensive and you're just competing in a super saturated market, you're not really going to get data either. your audience is never going to be warm or optimized. so i just don't recommend you to drop ship to the us or the top five, because you're just never really going to break through there. so what i did is to try to find a trend on facebook to bring it over to another country, and i'm also going to reveal the product, so you know exactly why it worked out so well. but you're probably wondering which country i have chosen and i will go over that in a second. but before that, let me actually show you how i found the product and after that we're going to tok about the country i advertise to, why it works so well, and in the end, i'm going to reveal the exact product and i've been using this strategy on all of my students and not a single one of them have failed. in fact, none of them have failed to make less than a hundred thousand dollars in a month. so if you're interested in my mainstream program, i actually have two spots left so you can go ahead and message me on instagram here. but let's get into my pc and i'll show you the exact strategy i used. all right. so actually, in like four hours i'm going to amsterdam for a big eco mastermind or meetup. i'm basically going to connect with other people in the ecomm space who are killing it with their brands and doing tiktok, drop shipping, facebook ads, just everything we tok about on this channel. so when i come back from that trip, i guarantee you that i'm gonna have the best strategies to date. so hopefully you smash a like on this video and subscribe to my channel. but let me show the strategy though. so, as you know, if you've been watching my channel for the past couple of months, you know that i'm all about taking a kind of sound to your product and putting it into on top market, and this is exactly what i did. so i tend to do product research on the facebook feed, and the reason for that is because the facebook news feed is just the best place to find trends. so i went on to facebook newsfeed and i was basically just browsing it for some time trying to look for a good product and, as you probably know by now, every third or fourth post on facebook is going to be an ad, and if you click on drop shipping ads you're going to get led straight into the next dropshipping ad. so let's actually do it. so we come over to the facebook feed and we start scrolling and, as you can see, i just pulled up an ad. pretty sure, this is the galaxy projector. yes, it is. they've been running out for a really long time. they just have to be making money. yeah, absolutely. i mean, as you see, it has 2.5 k comments. they probably been running this ad for like two years. at this point. i just keep seeing the same store pop up over and over again but pretend that this product is not as saturated. this is just an example, so don't take it like super literal. i would go for a product that's a little bit less saturated, because this product has been pretty much all over the world. but what i will do is. i will pull up their store and see how i could kind of like beat them. as you can see, this bright pitch is not really that interesting, but i will say it's like really clean, but in some way maybe we could beat it. but in my opinion we don't really have to beat them. we don't really have to be better than them in any way, and this is why this strategy is so easy, because we're not going to compete in the same market. so when we compete to another market that's never even seen this store, it doesn't really matter if it's better than oars. but obviously we want to try to have a good story. but i'm going to take this product and i'm obviously going to dropship it to one country and you will never really know which countries the store is targeting for their ads. but we can go ahead and assume that they don't really specify into the german market, for example. so what we can do is we can take this product and let's just say they're selling it to mainly the us. i mean, you would have to assume you will never know for sure, but let's just assume they're selling it to the united states. we can take this right and run it to australia. we can also take this product and run it to germany, netherlands- there is a ton of good countries. i mean, i would probably even run it to my own country. but, as i said, this product is just an example, so don't take it like super literal. but what i'm going to do is i'm going to set up a one product store for this country and i'm going to pick out the country, and the country you pick out doesn't really matter, just make sure that it's not the us, because the whole point of this strategy is to get reached to a high level country for half the price of drop shipping to the us and most of the modern countries in, for example, europe is going to be perfect for this strategy. so before i'm running it, i would probably go to facebook ad library right here and what i'm going to do is i'm going to select the united states and i'm going to do all ads and then i'm going to search for galaxy projector and we're just gonna quickly see how saturated this is. uh, but obviously, as you know, this is super saturated. it's just an example, but, as we can see, there are- yeah, there's- a store that's pushing this product heavily.

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Top 3 Countries For Dropshipping Outside the USA | Shopify Dropshipping Unsaturated Markets

in this video i'm going to tok about unexplored, unsaturated markets for shopify, drop shipping that are not the us, canada, uk and all these oversaturated, over advertised markets. we're going to look at what are the best hidden gems, the best countries to run ads to, to create stores in those markets, dominate, get results, just like some of my students are doing in some very small countries, are getting amazing results and not competing with everybody else. let's check them out, and really quick. if you want my help, you want me and my team to mentor you and help you get results with your shopify business, grow it to whatever level you desire. make sure to click that first link in the description. let's tok, get a free call. let's see if we can help you and our mentorship fits your needs. now there are a lot of things that we need to consider before we go and start selling in an unsaturated market. the first one is: do people actually pay with credit cards and debit cards online? i know this might seem like of course they do. if you are from a developed country, if you're from the us, from canada, from australia, of course people pay with credit cards and debit cards, but in a lot of countries it's all cash based. for example, where i am right now in slovenia, even though a lot of people like to pay with card, it's mostly cash base. you go to the store better to pay in cash. you go there better to pay in cash, so you don't actually buy too many things online with a card. so that's the first thing that we need to find out. here in statistacom, i made an account. we can check the share of individuals with credit cards in selected countries worldwide as of 2017.. obviously, this is not super, super new right now for 2021, but it's the newest thing that i could possibly find. so you can see the percentage of people and the percentage of people that are using credit cards on a day-to-day basis. so we got canada at the top that, we got israel, we got norway, luxembourg, japan, united states. so, for example, norway could be a great country to target for your shopify store, because 70 or 17.5 percent of people are using credit cards and debit cards in their daily life and also to buy things online. so it's a great market to go after. if you're looking for a market in europe, for example, this is a great one. we got, obviously, the united states, switzerland, hong kong, south korea, finland, and we can go down to the bottom until you have some countries obviously are zero percent, like turkmenistan, morocco, madagascar and a lot of people. for example, i've had some people from africa ask me: when are you advertising africa? why don't you sell to africa or some countries that are underdeveloped? well, because not that many people can actually buy online. they prefer cash on delivery, and cash on delivery is a lot harder to set up. it's a lot more complicated. you need more connections, more intermediaries, so it's just a hassle overall. so we're going to stik to the top ones. we got spain here, australia, obviously, singapore, belgium, malta, so you could do, for example, singapore. have one of my students who he was targeting many different countries trying to test his products out and singapore actually was the most profitable country. so he decided to go a hundred percent into singapore and started getting great results there and is now scaling his product in the country of singapore alone. you got uae, austria, sweden and so on. so that's the first thing that we need to find out about the country that we want to target is how many people use cards, what is the percentage, and the higher the percentage, the better it is. now the second thing, apart from the credit cards, that we need to find out- or if actually people are buying online, is: what is their english level? when you're going into a secondary market or an unsaturated market, it's obviously better to do it in their language. if you're selling to spain, you're selling to italy- always better to sell in spanish and an italian. i have one of my students who sells to italy. he's italian, his store is in italian, everything is set up in italian and euros and everything set up so that italians can fully understand it. that's obviously the ideal scenario, but sometimes you speak only english or you speak just one or two languages and you want to advertise to a lot of different countries. i know one of my friends. he sells in poland really well and poland does very well. he doesn't speak a word of polish. he sells in english. so what you want to do is you want to check the world's ranking of countries and regions by english skills, so we can go down to the bottom. here we can see this year's number one is the netherlands, and that matches up with a country in the credit card usage. if we go up here, netherlands was actually in the 30. okay, so 39, not super high, but it's pretty high that we can compare it to the english speaking and number one english speaker. and you have all these other english speaking countries. you got very high, high, moderate, low and very low and you can see all the countries ranked by those different categories of english speaking and you can find all the links to all this in the description. they are well put there. obviously, to get results in this unsaturated markets, you need winning products and i'm actually giving away a list of top 10 winning products that i made for my mentorship students, my private students. i'm giving it away to one lucky winner. all you have to do is comment below: winning product or winning products. i'll be giving it away. subscribe, hit that notification bell, that like button, and i'll pick a winner for the next video. so very high would be netherlands, denmark, finland, sweden- obviously countries in europe- luxembourg and south, or actually singapore and south africa, and all the other ones are pretty much in europe, all the other ones. so you could do, for example, norway. i've been to norway. they all speak english. i've been to sweden. they all speak english. fill in: the same denmark, the same, netherlands, the same. everybody speaks almost perfect or pretty much perfect english as well as they use credit cards. so, for example, these could be markets that are very, very good for you to tap into and go at it, because they are unsaturated, people don't typically advertise to them, but they speak really good english and they use a lot of credit cards. you could also go into the high ones, like poland here, switzerland- although everybody that i've met from switzerland speaks relatively good english- you got estonia, argentina, france, latvia. you could use one of those countries that are in the high category- moderate, i would be careful, for example, like italy. yes, this is true, a lot of italians do not speak english. i've been to italy to many different cities and a lot of the times it was hard i had to use spanish and they would understand spanish better. so if you are going to italy or spain or chile or paraguay or russia, you want to do it in their language. in those cases, if it's in the moderate to low, and obviously the very low, like cameroon, algeria, those partikular countries, if you want to go for them, i would advise you not to, because if you want to go to one of those countries and advertise there again, they don't use credit cards that much. so that's why these two need to match up. they need to have english and they need to have that credit card usage. so we've made a list here, a partikular little cheat, if you will. you can find the link down in the description. my support specialist, marco, made this list and you can see by e packet ranking. also, one of the things that you want to find out, apart from credit cards and language, is obviously: can you ship there and how easy it is to ship there? and even though e-packet not the best shipping method to use right now, but at least it's an indicator that we can ship to that country. if a country doesn't have e-pack, it doesn't have cne, doesn't have anything, it'll probably be very hard to actually ship your products there. so epacket gives us a pretty good understanding of, okay, that country.


How Sverre (Norway) 6x his business immediately to $50k/pm with ecommerce in Norway

uh, i think we started toking in in june or july, yeah, and if i just look at my um, my last, what is it? few? uh, okay, i see it okay. so if you look at it here, um, today we have uh sweary- um, i'm kind of having an interview with him, because he's actually he runs an e-commerce store. he's from norway as well and so he's an e-commerce entrepreneur, uh, and before uh, we met, uh, sorry, what, what numbers were you doing? like? so i had like a really slow time, um, starting from black friday 2019, all the way, and then, of course, corona hit, yep. so when it was may- i don't know if you can see my screen now- in may, like, i had number of zero days, yep, and i i was uh below breaking even or just broke even. it just died, everything just died. i used an agency and i didn't know, um, i didn't know how to handle, like, and my first email with you was june 4th. if you go to june 4th here, i didn't start immediately with your strategy. so june 4th was actually a good day and, yeah, i had a. i had a 1 500 a day, but that was the best day i had all year and that was the day i i toked to you the first time and i had like real liquidity problems because of this, because i had i lost about 250 000 because of this uh. so from june 4th up until it took me about a week and a half to really get going and, as you can see from from the screen now, the average is just every single day is good and my sales are about three, four times as much uh as they were. you mentioned you did. what is it? 450? but this is without scaling. i have still a problem finding enough merchandise, so i haven't scaled ads since june. july i just stepped on that level and it's so hard to get enough merchandise. so this is not representative about how good it's going. it should be twice, three times of this. so i'm taking it careful because of another thing you taught me was when you showed me the internal rating system, which i had never heard of before. and because of the internal rating system and because i was aware of it, i was able to mitigate the problems uh that other people have not been able to mitigate, getting under uh, under the threshold level, which has been incredibly important. so right now my, my rating is something like 3.5, i think, or so it's. it's doing really well in the rating, consumer feedback rating. okay, and this is all. uh, norwegian market only, right, norwegian markets, single products, one store and in the meantime i've lost another. i i've launched another business. this is that now we have just sales every we launched here, yep, and uh, we're just getting started. now it's just like the first test: getting our getting our averages up so we can buy ads and do basically everything again, but in a much larger scale and also in many countries. okay, so, because, like before, before we met, you already doing, uh, some sales, right, so can you tell me, like, what exactly was the change that allowed you to scale? uh, is it like the tik tikniques? is it like how i like to see my? what i do is like one landing page, one offer, and i drive tons of traffic. so what do you think? what's the difference for you to get to the next level? well, it was the confidence, because, um, the reason why it worked so well- i mean, of course it was it had to work at that moment. yeah, like i didn't have, i didn't have a plan b at all- like this was. this was the almost the end of where i thought like i, if i'm gonna do it, this has to be right now. and i just remember, um, my parents were here, uh, like the day, almost a day of when, when i had a tok with you, yeah, and uh, i had angry customers on one side and i had some some creditor calls and i had everything at once, like because you, when you have, uh, when, when things slow down, all of a sudden a bunch of things happen. and i just remember that that drive we took for two hours i had like 50 calls from all kinds of parties and it was so stressful and the next day i started selling. that was like, literally the next day it started opening up and the liquidity came back and came way back like much better than before. so now i'm doing what's equivalent, or the- if you're gonna, if you're gonna extrapolate it to a year, it would be about six hundred thousand dollars maybe, and uh, that's would equivalent, be equivalent to maybe two hundred thousand profits and your net margins, what? around thirty, thirty five percent, is it? yeah, i spent about thirty on product, thirty on ads and thirty on approximately. okay, that's it. so what, exactly what i got from here was the confidence i mean i didn't have any confidence in because, uh, like eight months of just like a dress, and it started black friday 2019, which is now uh, which is now um, and, by the way, i used an agency back then, yeah, which, uh, which controlled my budget. so the reason why i had such a disaster experience after black friday was because they were- they were killing my budget from the ukraine and i had no impact. no impact, no control over any of this. it was an awful situation to be in. so because, like you can clearly see, like here, right, like this is just massive, like around what three, four times increase, right, yeah, so, but then again, it's like you have to know way more than that. i think it's if you look at, you have to look at the sort of the mass, yeah, and you look at the end, like here, from october 7, it's just not a down day. everything is up. so, yeah, okay, and like, this is actually a pretty realistik scaling, sorry, so now you're very good. yeah, so often when you see people that scale, they do it in almost a straight line and it's from zero, and then it's like one, and then four, and then ten, and then and you end up in like ten thousand dollar days. yes, you can, but the real issue is the goods. if it's a digital good, that's fine, you can do that, but the the logistiks and the problems that come alongside. i think that cannot be overstated- how problematik that is. the logistikal issues: it's really not about the ad, it's not about the tiknique. it's about getting enough merchandise and handling the people that are disappointed because in corona you have all these new, different kind of problems that you didn't have before. and handling all these things is equally important as knowing like the tikniques of of making a facebook ad, because that's become significantly easier since i did my first one. basically, you can trust automation in a lot of these things, but but like having, like responding to customers and these things are incredibly important, like i do probably a third of my sales on the phone. so you look at, if you look at the orders- i don't know if you can see it in this screen here, but if you look at the analytiks here from this year, if you look at here, it says draft orders- yep, that's about 14 000. and then you have here where you have shopify for android, that's also draft order- that's 20 000 in sales on the phone. yeah, i mean that's because your product is high tiket, right, so it's necessary, right, yeah, yeah, but it's, it's incredibly important because, really, what you're selling is you're selling, uh, like a believing someone, like the confidence in in, um, in believing that the product is what you think it is, and and it's also a quite a good way to mitigate, um, the drop shippers, because we have a number of drop shippers here locally that masquerade as being a local company, and about 30 to 50 at least in my sector, for sure. and uh, when you're actually on the phone, you're speaking a local language and you're like a small thing i picked up, like you put up, you put up just a flag. no, like, uh, a map. i mean sorry, yeah, and you just say here i am, like right here is the office in the middle of the center, stuff like that matters a lot, like you wouldn't think you'd do. well, it does, but it really, it really does okay. um, besides, confidence, because confidence is like it's a mental thing, but, uh, like action, action gets you results. so what, what exactly? yeah, from you. yeah, like when you, the way you broke down- especially something i really liked was when you broke down traffic into cold. i don't know what, uh either still remember what you call it, but with, like the cold media, cold, medium and warm was.

How To Start Dropshipping In Norway//Tutor24bd

hello viewers, welcome to my channel. tutor 24 BD we was today. my topic is how to start dropshipping in Norway. uh, pastoral, who I start Drop Shipping. many people dreams of food for triple business, profitable business in that service serves customer all over the world. if you are one of them, you are the right place. Drop Shipping is the reasons that provides equal opportunity to everyone. it doesn't matter whether you are in Icelander or a resident of busy Mentor for list. okay, if you want to secure a better future for yourself and your family, your just want to have an additional income. you can easily set up an online business that will bring you money, and at any point of the globe. you do not need to manufacture product or to buy them from someone. in Advent Advance all units: how to drop shipping work. find an online supplier who has the product if you want to sell. I'll show the suppliers product with market prices on your website and advertising them. receive direct payment from the customer who buy from your website. redirect the orders to your suppliers and pay them in their original price. keep the profit to yourself. okay, do nothing. the supplier will shift the order directly to your lights and if you find more product and supplies. if you like the enjoy greeting earning. why start Drop Shipping in Norway? as a normal air resident, you haven't that each day text. to start this business smoothly and quickly is internet access and growing a smartphone user. let used a touch with your suppliers and customer 24s and by seven days I earning guarantee brilliant business performance. okay, so we also. we are discussed space um.

Norway a good place to start Business? A fact check

norway, the country of fish, oil and the most expensive food prices on the planet. but is it any good to start your business there? let's tok about it now. hi, i'm oliver and welcome back to the channel. ask me startup, where we tok about startups, small businesses and the world that surrounds them. if you're new here, please consider subscribing and pushing the notification bell so youtube lets you know whenever i'm uploading new content. if you're into startups, if you want to start a business, if you have a startup, please feel free to to start your downl now. let's get first familiar with some facts about norway. norway is the most eastern scandinavian country and it has borders with sweden and russia in the far north. its capital is oslo and it is also the largest city of the country. the gdp per capita is roughly around 70 000 us, which is already telling you that this is a very wealthy country. its population is roughly 5.3 million and it is not part of the european union. nonetheless, due to the fact that norway has very rich oil grounds, it is one of the richest nations on the planet. they are actually using the income from the oil wisely and, i would say, among the wisest about any countries on the planet, as they are just along four percent of revenue to be used otherwise than investing in future pension funds. like sweden, the scandinavian country is a high tax, high income, high maintenance country. that means that you pay a lot of taxes and the wages are extremely high. nonetheless, despite the similarities between sweden and norway, the norwegians are twice as risk awards than the swedish are, and that has some impact on the way people perceive to start a business. because if you want to understand how is it, if you want to start a business there, we look at the workforce and we figure out that of course, they have one of the best educated workforces out there. they're on par with all the neighbors, they're on par with all the western european countries, but they're not as entrepreneurial as, for instance, the swedish or the danish. that gives you an indication why you might not find so many popular norwegian brands. i mean, there is start oil, which is an oil company you go like: okay, wait a minute. so any startups? i looked at the list of startups that they claim to be successful and, to be honest, from my perspective, none of them doesn't even tell me a single thing. the next biggest company, besides that oil, would be telenor, which is telecommunications- again, nothing, startupish, nothing. if we go to the legal part, we know, and we happen to see, that of course norway has a very well established legal framework. there's hardly any corruption and is on par with all its neighboring countries, which means they have a fast, responsive governments and institutions to help you grow your business. furthermore, due to the fact that norway is a rich country and many people made a fortune with oil, it is easy for people to get access to startup funding, at least for the initial rounds. if you are looking for some funding around, let's say, 80 to 200 000 us, you will be able to find abundance of capital available. if you want to go into larger rounds, it becomes more tricky. we're also aware that the norwegian government has put up a lot of funds and efforts to support small companies with grants and loans to boost their proceedings. however, did it pay off? i'm not so sure yet. now we have to acknowledge that norway is evolving a startup ecosystem, but it is not on the top 15 list as of yet. but we see them trying to improve the situation. but how successful are they? reality is- and that is from personal experience- it will be very hard to start off any business from norway due to some very simple facts- and i'm not going to tok about taxes, but because taxes are something the swedish have to deal as well and they're doing great with it, or the danish, but it has to do with the way the government sets up the rules and regulations for companies and wages. first of all, let's tok about wages. norwegian wages are among the highest on the planet. they're in a top 10 ranking list- and it makes it almost impossible for any new hire to have a lower income than before. meaning if you had a job that get was giving you a hundred and twenty thousand dollars us a year and you're then thinking about: ah, i want to go to the startup. the startup may not pay you less than 120 000.. actually, it has to pay you a little bit more. that, of course, disables a lot of startups to acquire appropriate workforce in norway, because: a- it kicks. it kills your cash burn rate immediately. b- many startups cannot afford such high salaries. simple. then we have to tok about option. it is very difficult- i'm not going to go into details on this- in the norwegian tax system to have deducted options available for your employees. i don't know the specifics on norway. all i've read is that it is a challenge to do so and actually, if you are in a startup, if you work in a style, options are one of the things you want. why? because if that startup survives, or if it is valuable or becomes valuable, that is when you make the big bucks. it's not when it's not about your wage in the first place, it's about the opportunity and the chance, and then it multiplies by a factor of 10 or 20 or whatever, but that seems to be difficult in norway. then there's a third factor that we have to take into consideration. it is difficult to get foreign people to work, which brings me to the point: is there a norwegian startup visa? short answer: no. that is really frustrating. if we go to the website from the government, we can see that, yes, they have a very formal, very clear, you know pathway for people to apply for a working visa, but it is complicated and regulated and you need a lot of documents and a lot of requirements need to be met. these are all outdated systems from the time when norway was an oil and fishing nation that was, or is still, rich, and now they're actually trying to prevent migration into their welfare state. there is a reason why norway is not part of the european union, because there would be a net cash payer. why? because they're so rich and they have accumulated the largest pension fund in the world and everybody who lives and works in norway has a certain right of a certain amount to that pension fund. maybe that is also the reason why the norwegians are so risk, or worse, because they know everything has been set up for them. they don't, they're not afraid to lose anything, but they might not have the motivation to do otherwise. i will give you an example. the norwegians complain about services in their own country because people are not the most service oriented from their perspective. they rather go to sweden. now the swedish complain about the service orientation of their own working force in sweden. hence they love to go to denmark. now you see that cascade. what's happening? the wealthier estate is and the more it takes care of its inhabitants, the better those people are situated and the less risk they have. but at a certain tipping point it seems like it's tipping over towards the fact that people are not motivated to do more for no way. that is despite the fact that they actually have a after the oil plant because they know one day the oil will be running out, they will not be able to sell anymore, and then they have to come up with other industry to replace them. hence they're trying with the startup ecosystem, but they're nowhere close where sweden is. maybe that's the reason why sweden has managed to get good, internationally recognized startups off the ground as of today, and no way hasn't. so coming back to the question: is norway a good place to start your business? my personal answer: yeah, mediocre. yes, you can get good startups in the fintik and maybe in the healthcare industry, maybe even a maritime, because they're, of course, big in maritime. but the fact that it's hard or difficult to get proper workforces and be able to pay them, the fact that if you get a government grant, that is somewhat limited- around three hundred thous-