After watching so many episodes of Dragon’s Den and Shark Tank, it’s kind of refreshing to see an American entrepreneur (Marcus Lemonis) who doesn’t believe in outsourcing everything to maximize profits:
Before the end of the video, I have to admit that I was actually rooting for the guys from Bombas Socks. We really do need some innovation in the sock market — am I right?
What do you think? Everyone talks about “American Made”, but when reality hits and they realize a Mexican or overseas outsourcer can make the same product for pennies on the dollar, small-scale entrepreneurs and big corporations alike all seem to go with the latter.
At the same time: It does seem a bit fool-hardy to limit your profit potential in this way.
Many successful businesses would fail if foreign outsourcing wasn’t possible, right?