688: Michael on the U.S. Green Card Ban

0:27Welcome to The Super Bowl. strategy skills podcast where strategy partners teach you the tools and techniques to solve mankind's greatest problems.

0:45Our podcast sponsor today is strategytraining.com. If you want to strengthen your strategy skills, you can get the overall approach used in well-managed strategy Studies. It's a free download and you can go to firmsconsulting.com forward slash overall approach. That's firmsconsulting with an s.com forward slash overall approach. And if you are looking to advance your career and need to update your resume, you can get a McKinsey and BCG winning resume template as a free download at www.firmsconsulting.com forward slash resume PDF. That's www.firmsconsulting.com forward slash resume PDF. There's some big news that came out today that has not actually gotten much publicity, but it should, especially for our client base and for anyone who wants to have a major professional career.

1:43And that's the fact that the U.S. government has, some say it's temporary, but they've temporarily banned certain tech companies from sponsoring foreign employees that are in the US for permanent residency. So why does this matter? This matters because oftentimes when we talk to clients, I would say the majority, if not all of them, talk about skills. How do I develop this skill to earn more and get promoted? How do I develop this capability so I can earn more and get promoted? But here's the thing that matters the most. The amount you earn is defined firstly by the size and the wealth of the market you're in.

2:28So the best performing management consultant in a lower income country in Latin America, Africa or Southeast Asia or Eastern Europe is always going to earn far less than someone in the United States. Because the US market is a big, liquid, deep, wealthy market. Now, why am I mentioning this? If you want to earn a lot and create a lot of wealth, you need to be in a big market. because the size of the market determines how much you can earn overall. What's the ceiling? What's the potential? Then your skills determine whether you can capture that potential. So when I talk to clients, the most important decision you have to make is how do you get to a large market?

3:18How do you get to stay there permanently? And then how do you skill up into that market? Linking back to the big decision from the U.S. government today to ban tech companies from sponsoring green cards for foreign employees. If you have not sorted out and don't have a plan to either go to or stay within a large wealthy market, and the largest and wealthiest market in most cases is the United States, then it doesn't matter what skills you gain. You're always going to be earning less than someone who is in a big market. So whatever you are doing today, focus on finding a way to go to a large market like the United States and stay there.

4:03That is the most consequential decision you can make in your life. As we wrap up, today's podcast is sponsored by strategytraining.com. If you want to strengthen your strategy skills, you can get the overall approach using well-managed strategy studies as a free download. go to firmsconsulting.com forward slash overall approach. And if you are looking to advance your career and need to update your resume, you can get a McKinsey and BCG winning resume template example as a free download at www.firmsconsulting.com forward slash resume PDF.

4:42Thanks for listening to this episode of the Strategy Skills Podcast. Stay up to date on all of our latest training by signing up for our email updates on firmsconsulting.com. We look forward to helping you develop your strategy, critical thinking, decision-making, and communication skills next time here on the Strategy Skills Podcast.

5:17Thank you.