Build a Global Growth Strategy

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Global growth holds immense promise for small businesses seeking a competitive advantage in today’s increasingly interconnected economy.  While understanding the intricacies of global expansion is an important first step, navigating this journey alone can be daunting. However, by working with industry leaders, companies (like GlobeTrade, wegg® and other resources) – regardless of scale – can expedite your global journey and access new markets swiftly and compliantly.

Here's a beginner's guide to global business expansion.

IP Assets Are the Heart of a Tech Company's Competitive Advantage

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It goes without saying that intellectual property assets are the heart of a tech company's competitive advantage. So, you have to value them accurately to make informed decisions during global expansion.

Before scaling, you need to conduct a thorough IP audit first. By assessing the strength, uniqueness, and market potential of your IP assets, you can determine your value in a global marketplace. This should include, for example, new product designs, manufacturing equipment, and process recipes for making your new products.

The bottom line in any such analysis is to determine the financial benefits that your IP assets are expected to deliver to a new venture that you may license or otherwise partner with. 

As young tech companies set their sights on global expansion, the wisdom and guidance of an experienced IP investor can make all the difference.

Create Competitive Advantages by Hiring Globally

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The biggest takeaway from Jeff Barrett's article for Entrepreneur, "Why Small Businesses Should Be Thinking (and Hiring) Globally During Covid-19 Isolation," is that even though we are going to be globally isolated for a while, there is still a lot of opportunity out there and the technology to allow us to make things happen. He goes on to say, "Everyone has to pivot. Top global talent will be temporarily looking for different avenues and that will benefit the entrepreneurs willing to think beyond isolation."

Read his entire article here.

Today in Global Small Business: The Global Blockchain Ecosystem

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

• Become your own global distribution solution.  Listen to a WEGGinar™ held on Wednesday, March 7 at 11:00 a.m. Central time and presented by Rebecca Herwick, President and CEO, Global Products Inc. The WEGGinar™ is free of charge thanks to generous support from IBM, UPS and Bank of America but you must sign up to attend: https://register.gotowebinar.com/register/144914921515073794.
• Five steps to making it as a global business leader.
• Women making their presence in the global blockchain ecosystem.
• Strategies to help your global brand maintain its domestic roots.
• What it takes for Indian brands to go global.
• Who said?  "We consider a commitment to a disciplined and consistent culture of ethics and fair play to be a competitive advantage in the global marketplace."