Tony Medina – Interviewed by Mikkel Thorup
Understanding Economies of Scale Through A Real Life Practical Example
Tony Medina is the CEO of Seoul Guide Medical, a private company that manages the best plastic surgery hospitals in Seoul Korea, as well works with one of the best Dental Surgeons, Dr. Chulmin Bae from Oaks Dental Clinic in Gangnam, Seoul Korea.
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In this interview with Tony Medina from Seoul Guide Medical, they discuss Tony’s experiences as an Expat Entrepreneur for the last 10 plus years living in Seoul Korea. As you can imagine, Tony has some hilarious and scary stories. Listen in while Tony recounts some of these great stories.
What are Economies of Scale?
Tony Medina explains why economies of scale are so important, especially when looking at a business model and why your first instinct may be completely wrong.
“In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation (typically measured by the amount of output produced), with cost per unit of output decreasing with increasing scale.
Economies of scale apply to a variety of organizational and business situations and at various levels, such as a business or manufacturing unit, plant or an entire enterprise.“
So what does that actually mean for you as an Expat? If you are are trying to create your own business or increase your income, how can you benefit from this?
Tony Medina uses the example of why a country like Korea can move so much further ahead then somewhere like the USA in areas like Cosmetic Surgery.
Check out other episodes of The Expat Money Show now being syndicated on Escape Artist.
In this episode we discuss:
- Don’t get arrested in Kazakhstan
- Understanding economies of scale
- What every entrepreneur should focus on
Coaches and Mentors:
The Expat Money Show recently interviewed Grant Cardone
Here is an episode with a man on a mission, please listen in: EP 040: MIKE MICHALOWICZ – A MAN ON A MISSION: ERADICATE ENTREPRENEURIAL POVERTY!
Learn About Tony Medina and Seoul Guide Medical: