Routines That Can Set You Up For Global Success

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To prep for their high-pressure days, many entrepreneurs map out morning routines that keep them alert, focused, and rejuvenated throughout the day.  Here are four morning habits of entrepreneurs who’ve raised millions for their companies.

I [Laurel Delaney here], don't feel so bad.  One entrepreneur said:  "I check [email] immediately."  That's exactly what I do and then go right into marketing The Global Small Business Blog's daily post.  Coffee comes later.

Metaverse: Hype? Hope? Hell?

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Experts are split about the likely evolution of a truly immersive ‘metaverse.’ They expect that augmented- and mixed-reality enhancements will become more useful in people’s daily lives. Many worry that current online problems may be magnified if Web3 development is led by those who built today’s dominant web platforms.

Metaverse:  Hype? Hope? Hell?  Maybe all three. 

How to Bring Out the Greatness In Every Employee

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GrowthSpace – which leverages algorithms to match individual employees and groups of employees with experts for development sprints – was founded in 2018 by Dan Terner, Izhak Kedar and Omer Glass.

The company today announced that it raised $25 million in Series B financing led by Zeev Ventures, with participation from M12 (Microsoft’s venture fund) and Vertex Ventures, bringing GrowthSpace’s total raised to $44 million. 

Glass says, "GrowthSpace will use these funds to expand globally to meet rapidly growing demand and to continue to expand its competitive edge through tech innovation."

What It Takes to Generate Value-Creating Growth in 2022

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To buck these trends – slowing global economy, rising inflation, and geopolitical uncertainty – business leaders need to follow a holistic growth blueprint consisting of three core elements: 

1. A bold aspiration and accompanying mindset 
2. The right enablers embedded in the organization
3. And clear pathways in the form of a coherent set of growth initiatives

To understand how organizations can try to overcome obstacles, McKinsey & Company studied the growth patterns and performance of the world’s 5,000 largest public companies over the past 15 years through various lenses. 

Their findings suggest ten imperatives that should guide organizations seeking to outgrow and outearn their peers.  And No. 8 is:  Go global if you can beat local.  Expand internationally if you have a transferable advantage.

Find out what it takes to generate value-creating growth for a business.

Today in Global Small Business: Where Is Your Organization In Its Leadership Journey?

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

• We need leaders we can trust, who genuinely care and connect with us.  Is that you?
• How the rules of success are changing.
• What should you be reading this summer to stay resilient? Find out here from CEOs, founders, Nobel Prize winners, editors-in-chief, economists, and government leaders from around the world.
• Quote of the week: “Our chief want is someone who will inspire us to be what we know we could be.” – Ralph Waldo Emerson
• Build a metaverse strategy to deliver sustainable outcomes.
• Learn about resilient transformation.

 

Bring Your Own Sunshine

©2022 Laurel J. Delaney.  All rights reserved.

"Wherever you go, no matter what the weather, always bring your own sunshine." – Anthony D'Angelo 

If GDP Is Falling, Will the Global Economy Shrink?

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If Gross Domestic Product (GDP) is falling, then the economy is shrinking - bad news for businesses and workers. If GDP falls for two quarters in a row, that is known as a recession, which can mean pay freezes and lost jobs.

GDP is one of the most important tools for looking at how well, or badly, an economy is doing.

GDP can be measured in 3 ways  Output, expenditure and income. Yet GDP growth doesn't tell the whole story.

Find out what GDP is and how it is measured.

The Global Plastics Outlook Through 2060

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In recent years, growing awareness of ubiquitous plastic pollution has steered public opinion and paved the way for stronger policy intervention on this front. The OECD Global Plastics Outlook reports seek to inform and support these efforts.

Plastic pollution is one of the great environmental challenges of the 21st century, causing wide-ranging damage to ecosystems and human health, while the fossil-fuel origins of most of the plastics produced have implications for climate change. Yet plastics have become an integral part of the global economy, being used in almost all economic sectors.

Read the report on Global Plastics Outlook:  Policy Scenarios to 2060

The Ever-Growing Small Business Export Market

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Whether it's Mississippi, Massachusetts or Main, exporting is a great way to great your business.

"Businesses that export generally earn higher revenues, create more jobs, pay higher wages and are less likely to go out of business," [Arun] Venkataraman [Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service, Jackson, MS] said. "My priority is to expand the pool of exporters to include (Mississippians) and diverse businesses."

Small business exporters are essential to building a robust, dynamic, and equitable economy," Venkataraman goes on to say. "We want to help support that effort."

A Great Resource for the Illinois Global Business and Entrepreneurship Ecosystem

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One of the best kept secrets in Chicago is the long-standing nonprofit International Trade Association of Greater Chicago (ITA/GC), which provides a forum for the exchange of up-to-date and practical information on the trends and tools of the ever-changing global marketplace.

Established in 1977 (name changed to ITA/GC in 1985) by Richard Paullin who is considered the Mayor of global trade in Chicago.  Richard has been bringing people and ideas together since then on a global scale.  Nobody knows the global business and entrepreneurship ecosystem better than Richard.

His organization also produces and distributes the well-known Illinois International Business Calendar – a consolidated list of all major global business themed events in the Chicagoland area – including ITA/GC programs and events.  By signing up for the PDF listing, you never miss an important event. Plus, you can even submit your event to him for a listing.

To become a member of the organization, visit ITA/GC/.

Richard will be giving a few words at the 7th Annual Global Small Business Forum hosted virtually on Friday, October 21, 2022 (and supported by lead sponsor Associated Bank).  He has supported and been involved in the Forum since its launch in 2015.  To learn more about the Forum, which has become the biggest and best global small business forum in Chicago, visit: https://globalsmallbusinessforum.com.  Registration is OPEN.

Today in Global Small Business: Get Ready for the Wave of Digitization

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

• A rapid wave of digitization over the last few years sparked a significant shift in how businesses make and receive payments. American Express introduces Global Pay, a B2B cross-border payment solution for small businesses.
• The market read the Federal Reserve wrong.  Here's how.
• Here are five things by Gene Marks in technology that happened this past week and how they affect your business.
• Quote of the week: "One of the factors that I believe is the biggest obstacle to transformation is the fear of cannibalization.”— Ganesh Ayyar, Mphasis
• As provided by Gene Marks, more than than 60% of world population will use digital wallets by 2026.  Get ready.
• IRS updates crypto questions for 2022 tax return to include gifts.

My Mind Is My Own Church

©2022 Laurel J. Delaney.  All rights reserved.

"My mind is my own church." – Thomas Paine

India Is Shaping the Future of E-commerce

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This month, retail giants and government regulators around the world will be watching closely as India rolls out the Open Network for Digital Commerce (ONDC) in 100 major cities. 

ONDC is a government-backed initiative that was conceived by non-profit think tanks. The project, championed by Indian billionaire and Infosys founder Nandan Nilekani, aims to create a level playing field in online commerce by putting tens of millions of kiranas (Indian family businesses) on an even footing with online giants such as Amazon, Google, and India’s Flipkart(a Walmart subsidiary).

Read on to see how India is shaping the future of e-commerce, at least for the summer of 2022.

What Can an Export Grant Out of New Jersey Do For You?

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In the case of New Jersey, USA, the New Jersey Business Action Center (NJBAC) is offering export assistance to small and mid-sized businesses in New Jersey through its NJ STEP program. 

Through the New Jersey State Trade Expansion Program (NJ STEP), which is funded in part through a grant from the U.S. Small Business Administration (SBA), the NJBAC offers an opportunity to help Small Business Enterprises (SBEs) receive financial awards to offset export promotion costs partially.

The benefits of exporting include increased revenue, a diversified revenue stream, and an expansion of product offerings for local preferences.

To learn more about its tools and resources, visit here.

Global Supply Chain Woes Lingering Longer

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Shipping giant Maersk said that congestion in global supply chains leading to higher freight rates has continued longer than initially anticipated.

Maersk raised its 2022 profit guidance for a second time on Tuesday, 8/2/22, after beating quarterly revenue expectations as congested global supply chains that have boosted freight rates persist longer than expected.

It ain't over yet.

Combating Global Expansion Challenges (wegginar® 8/3/22)

©2022 Women Entrepreneurs Grow Global®.  All rights reserved.

Join host Women Entrepreneurs Grow Global® for its next wegginar®, Wednesday, August 3, 2022 at 11AM CT featuring Jessica Wargo (Plante Moran), Beth Babich (Plante Moran) and Elisabeth Weissenreider-Bennis (The Weiss-Aug Group) when they talk about, "Crucial Connections:  Combating Global Expansion Challenges."

They will weigh in on all things concerning global expansion.  Top on the list to be covered:

• Understand the pitfalls/traps to expanding globally
• What the tax and other considerations are when expanding globally
• How to select the right partners/advisors for expanding globally
• Understand how the global environment has changed in the pandemic and post-pandemic era

To learn more and to register, visit:  https://bit.ly/3Pt4wV1

The beauty of these wegginars?  They are chock-full with useful (practical) information to take your business global and are free of charge thanks to mighty sponsors who back the growth of women business owners:  Associated Bank, Bluedog Design, FedEx, Global Care Clinical Trials and Union Pacific.

Today in Global Small Business: A Federal Program That Encourages Small Businesses to Enter Global Export Market

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

• A federal program that encourages small businesses (in PA) to enter global export market.
• Open, the Google and Tiger Global-backed neobank, is planning to onboard about 10 million small businesses in 3 years as it aims to solve a series of challenges faced by SMEs for managing their business finances, using technology.
• Small businesses hanging by thread?
• Quote of the week:  "Blitzscaling is what you do when you need to grow really, really quickly. It's the science and art of rapidly building out a company to serve a large and usually global market, with the goal of becoming the first mover at scale. This is high-impact entrepreneurship." – Reid Hoffman
• Some tips on taking your business global.
• How businesses can use video translation to grow their global influence.