Today in Global Small Business: Why You Can't Do Global Deals All Alone

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What's affecting me, my clients, my colleagues and other global small business owners:

• Why you can't do global deals all alone.
• Two import tips that go under the radar for most business owners yet can impact a transaction in a big way.
• Five key factors you should keep top of mind when you expand your business globally.
• Learn what UK small businesses are fearful of when it comes to exporting (see whether you have the same anxiety).
• Hangzhou, home to China's largest e-commerce companies, where many benefit from the Internet.
• Coming up:  The world's biggest and best Global Small Business Forum held in Chicago 10/21/16.

Reckless Records in Chicago: New and Used Vinyls, Cassettes, CD's and DVD's

Since 1989, the coolest of cool stores in Chicago.  Worth a visit:  https://www.reckless.com

Photo credit:  ©Laurel J. Delaney.  All rights reserved.  Taken Friday, September 23, 2016 at 26 E. Madison Street, Chicago, IL.

Free to Choose Global Trade

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The two main candidates for USA president both have it wrong.  Trade is good for us.  I'm pro-trade.  Even Nobel-prize winning economist Milton Friedman said:

"The social and moral issues are all on the side of free trade. And it is you, and people like you [a union official that challenged him on his bid to eliminate all tariffs over five years], who introduce protection who are the ones who are violating fundamental moral and social issues."

It's worthy of a look at Milton Friedman's Morals.  And see what else a bad trade deal can do to our global economy.

Where Is There a Treasure Trove of Overseas Opportunities for U.S. Middle Market Businesses?

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Oh come now.  You may think that Asian and European markets are the best and most prosperous markets to enter when expanding your business internationally.  Not according to a recent report, "Winning in the Americas."

The report, co-authored by the National Center for the Middle Market (NCMM) and TradeUp Capital Fund, a premier fundraising platform for globalizing companies, concludes that the best opportunities for U.S. middle market companies (those with annual revenues between $10 million and $1 billion) lies in Latin America.

Surprised?  So am I.  To feed your curiosity and to learn the facts, visit:  NCMM Report Finds that the US Middle Market is "Winning in the Americas"

While you are at it, take action on two other things that will help you expand your business internationally:

1. Sign up for TradeUp Capital Fund's newsletter
2. Determine the strength of an export market you wish to enter (new tool that is very cool!)

Two Tips to Avoid on the Import Process

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There are many questions you need to address before you begin an import process.  Details such as, which country should you import from; how do you find a reputable supplier; and how do you know what you don’t know when it comes to compliance issues?

Here are two tips that oftentimes go under the radar:  Stay Clear of These Two Import Landmines

Note:  This is a new article I wrote for the About.com Import-Export Business site, which is now under The Balance brand.

Why Understanding Culture Matters When We Are Working Internationally

Today in Global Small Business: The New World of Work

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What's affecting me, my clients, my colleagues and other global small business owners:

• Small businesses confident in global economy despite upfront concerns.
• The shifting of the tides to global e-commerce.
• Why globalization is a necessity for small businesses.
• The rise of the super-stars dominating the global economy.
• Your complete guide to moving abroad to work for yourself.
• How big is the gig economy (the new world of work)?

Find Someone to Help You Paddle

©2016 Laurel J. Delaney.  All rights reserved.

"If you want to change the world, find someone to help you paddle." -- William H. McRaven

Getting Trust Back From New Zealand Small Business Owners

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Ouch.  A glitch with global online payment company PayPal has hit a number of New Zealand small businesses in their wallets.

Here's what one small business owner says:

"A lot of people don't trust PayPal anymore. For me its not about screw-ups, technical screw-ups happen all the time, you can't get angry - it's just the society we live in. But it's the way the company has reacted and I don't think I've ever seen such a poor reaction from a massive company to its clients. We just don't feel like they care."

Read more:  Small businesses struggling after PayPal glitch

Why Brexit Isn't the Biggest Concern for UK Small Business Owners

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In the UK, who are you going to call when business gets tough (and don't think Ghostbusters!)?  We're not talking about about anxiety caused by losing one big customer; rather, SMEs are more concerned with cash flow problems and tough competition from emerging markets.

According to C2FO Working Capital Outlook Survey 2016:

The majority of SMEs (55 per cent) find cash flow as the biggest obstacle for business growth and more than 40 per cent indicate an increase in working capital needs compared to last year. 

The survey examines the preferences of more than 1,800 SMEs in the UK, US, Germany, France and Italy for improving working capital efficiency, examining trends associated with economic and political factors, financing, working capital deployment and supplier-buyer relationships.

Read more:  Tough competition, alternative financing, higher interest rates

Earphones Are Evolving Globally

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Once thought of simply as an electrical device for listening to music without other people hearing, earphones are now becoming more sophisticated and multifunctional.

In fact, world-famous audio brand Bang & Olufsen and German audio equipment manufacturer Sennheiser have introduced top-of-the-line earphones priced up to 400 dollars.

Now enters a small but competitive business, IR International, making a difference for the Korean economy by becoming the maker of the world’s first dynamic 2-way earphones.

Read more:  Power of Small Businesses

8 Lessons for Successfully Launching a New Product or Service Globally

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Alison Larson is an international business development consultant, founder of WorldBlazer Consulting LLC, and coach who works with fashion companies to launch, develop and/or dramatically improve their brand's presence and overall business in international markets around the world.

Prior to establishing her consulting business, Alison worked for 23 years in various executive positions at Carter's and OshKosh B'Gosh where she was responsible for global business development of the companies' various brands in over 40 developed and emerging markets.

She has spent her life traveling and working abroad and has lived in the USA, Italy, the UK and Belgium.  Alison has an MBA in International Business from NYU and Executive Certificates in Global Negotiations, Cross Cultural Communication and Managing Conflict with a Global Mindset from Thunderbird Global Business School.

If that is not enough, Alison is conversant in four languages and enjoys sailing, skiing, painting and creating jewelry in her spare time.

What's so cool about all this?  Alison is donating her valuable time and expertise to present a webinar for Women Entrepreneurs GROW Global on Wednesday, September 14th at 11:00 a.m. Central time. The title of her talk is:

"8 Critical Lessons To Ensure A Successful International Product Launch"

Here's what you will learn:

• The type of research needed to identify your best target market 
• How to select the right international partner the first time around 
• The important role that relationships play in your international expansion efforts 

To learn more and to register, visit:  https://attendee.gotowebinar.com/register/4126297091592158468

Event is no charge but you must register to attend.  See you there!