The world has now crossed the 7 Billion mark.
With 7 Billion people stretched out across the world, all hungry, all thirsty, all needing education, entertainment, clothing and more, there has never been a riper opportunity in the world for the entrepreneur to do business.
John F. Kennedy said, “When written in Chinese, the word “crisis” is composed of two characters. One represents danger and the other represents opportunity. ” When “7 Billion” is written out, you have the option of interpreting it either way, as a danger or as rich new opportunity.
The National Geographic video below puts the new population number into perspective. Watch it. I will be highlighting 3 opportunities that arise for us coming out of this new global development.
7 Billion people in the world means at least three positive things for the Caribbean:
1. Our Supply Should Never Exceed Demand.
In a June 2010 article entitled “Coffee industry at crossroads,” the Jamaican Minister of Agriculture noted that a major problem being faced by the industry was insufficient demand. Japan, grappling with the effects of the recession, could no longer buy up all of Jamaica’s gourmet coffee product, creating a situation the Minister though could very much “result in a collapse of the industry, damage to the brand, loss of international markets, and a loss of foreign exchange earnings for the country.” (J.O.)
All I will say on this point is, with 7 Billion people (at least half of which I’m sure LOVE coffee), it is silly to put virtually all your eggs in one baskets. (By the way, Japan, though it purchases some 90% of Jamaica’s Coffee product only has a population of 30 million and falls as far down as 39 on the list of coffee drinking countries per capita.
2. We can do a lot more Niche building.
Let’s face it, owing to the ridiculous energy costs in the Caribbean, we cannot compete with a Brazil or North America in planting sugar cane or Bananas. As long as energy costs what it does, Caribbean countries cannot excel in crowded fields.
There are things however that Jamaica or Cuba or Grenada may have that one could almost count as peculiar to their shores or culture.
When there were only 1 Billion people in the world (1800), perhaps it would be a stretch to find a global market for steel pans, or Jamaican Dance Moves, or Oil Dung or some indigenous cuisine. With 7 Billion people in the world, coupled with the globe-shrinking wonder of the internet – markets exists everywhere for the weirdest, most niche ideas.
3. We have greater opportunities for collaboration and innovation
Although, according to the National Geographic, 7 Billion people standing shoulder to shoulder would not exceed the state of Los Angeles, it is inevitable that someone somewhere will feel crowded and will come to your country, or town.
Consider how the migration of peoples’ from India to Trinidad has revolutionized Caribbean cuisine. I mean, who in their right mind could resist Doubles, Buss-up-Shot and Curry Mango. Oh lawd.
7 Billion people gives us the opportunity to do to our business models, our graphic design, or technology, our marketing approach and the like what the Indian’s have done to Trini culture.
So the next time you hear the number 7 Billion, we here at MoneyMax101 expect you to forgo the panic and think bigger. The fact is, with 7 Billion people in the world, BIG is the only way left.