Today in Global Small Business: Ad Campaigns That Are More Inclusive Have a Positive Impact

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

• A new academic research carried out for the advertising industry suggests that “Go woke, go broke," the snappy catchphrase devised by rightwing groups as a warning to brands, has got it all wrong.  New evidence that ad campaigns that are more inclusive have a positive impact on profits, sales and brand worth.
• Bed Bath & Beyond is pursuing global sales in key international markets, starting with a licensing agreement for stores in Mexico.
• Quote of the week: “Never write an advertisement which you wouldn’t want your own family to read. You wouldn’t tell lies to your own wife. Don’t tell them to mine. Do as you would be done by. If you tell lies about a product, you will be found out…” – David Ogilvy
• The NFL is going global and that's a good thing (to some).
• Last week the Private Label Manufacturers Association met in Amsterdam, this week the Canadian Council of Grocery Distributors meets in Vancouver and next week CIES, The Food Business Forum, convenes in Paris.  Global retailing is happening.
• The digital public infrastructure (DPI) of India is increasingly finding traction in other countries – truly global – and its reach is only going to increase.  

How to Break Into Global Business

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There are three initial phases to launch into international business. The article below breaks out the steps of each phase, including a rough timeline of how long you can expect each phase to take.  From research and planning, to making initial trips to your target countries, expect to spend six months to several years preparing for this exciting new facet of your company.

Ask yourself:  Why sell your product or service to international markets?  Take an honest appraisal of your business and yourself.  Are you ready?

Think With Google and Move Your Business Into International Markets

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With more than half the world’s population now online, the opportunities for businesses to reach new customers abroad have never looked brighter. But how should companies prepare for international expansion? And just how easy is it?

Google guides you by looking at your potential customers. 

Global Market Entry Strategies for 2024

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Earlier this year, Elon Musk’s Starlink expanded operations into Nigeria – Africa’s largest country. In 1990, McDonald’s explored Russia and opened its first outlet in Moscow. In 2006, Vodafone – a UK-based company – launched in Italy.  Why?

Find out here to discover how you too can enter international markets.

Building a Global Economy of the Future

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“In Indiana, we’re focused on building a global economy of the future, and our Hoosier entrepreneurs and small businesses will be critical to advancing future-focused innovations and solutions,” said Indiana Secretary of Commerce David Rosenberg. “Indiana ranks in the top 15 states for exporting, and the IN-STEP program aims to build on this momentum, helping more Hoosier small businesses reach customers in international markets and find success in the global economy.”

Learn more about how the Indiana Economic Development Corporation (IEDC) secured $300,000 in competitive grant funding from the U.S. Small Business Administration (SBA) to support the export activities of Hoosier small businesses through the Indiana State Trade and Export Promotion (IN-STEP) grant program.

Standing Out Globally in the Sea of Swimwear

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It's all about size.  Having a wide range of sizes can really be a huge point of difference for a swimwear company.  But to the point of this post, when Natasha Oakley and her best friend, Devin Brugman, created their blog, A Bikini a Day, in 2012, they had no idea their passion project would eventually turn into a multimillion-dollar global brand. 

The site, which expanded to feature fitness, travel and lifestyle content, was, at its core, a platform to celebrate curves and the diversity of women’s bodies. Oakley and Burgman’s ability to cater to that gap in the swimwear market, however, was the catalyst for the duo to launch Monday Swimwear in 2014.

Natasha and Devin are actively growing and expanding Monday Swimwear.  The brand plans to expand into international markets, as well as launch retail locations.

Who Knew? Dwayne Johnson Has a Tequila That's Going Global

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Created and introduced by founder Dwayne Johnson alongside co-founders Dany Garcia, Jenna Fagnan, and Ken Austin, Teremana® Tequila, a super-premium, hand-crafted, small-batch tequila, has seen resounding success since its introduction in March 2020, initially in the U.S. and then followed by Canada and Mexico.

With more than 640,000 9L cases sold in 2021, the brand is focused on furthering strategic expansions in the US and international markets.  The ownership team is is committed to making Teremana Tequila available to a global audience at retail locations, bars and restaurants around the world. 

Hmm, read more at Stupid Dope.  Yes, that is a real website.  Hard to take the news seriously when it's announced on Stupid Dope but maybe I need a shot of Dwayne's tequila to find it entertaining :-).

Reducing Poverty Through Global Economic Growth

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The U.S. Small Business Administration and The Millennium Challenge Corporation (MCC) recently signed a Memorandum of Understanding (MOU) to advance emerging technologies and innovations developed through the Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR) programs. The MOU will help close nation-specific gaps in sectors like energy, sanitation and health, which are set to be pinpointed, piloted and scaled 

The two aim to collectively advance emerging technologies via their resources and realms—and connect U.S. small business innovators with international markets—under the MOU.

Let's hope this unleashes a country's true innovation potential.

Georgia: The Epic Center of Global Trade in the Southeast, USA

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The new Export Georgia, USA Directory hosted by Georgia Department of Economic Development’s International Trade division  provides Georgia businesses with the global connections they need to reach new markets and diversify their international customer base. The site (www.georgia.org/export) currently features more than 60 Georgia businesses.  The new marketing tool has been created to provide virtual connections between international buyers and Georgia suppliers.

“Georgia has quickly become the epicenter of global trade in the Southeast,” said Georgia Department of Economic Development Commissioner Pat Wilson. “As we continue to celebrate a record-setting year for trade in 2019 – our trade team is focusing on the future. Not only will this tool help Georgia businesses find new buyers in international markets, but it will also help businesses get back on their feet as they seek out new opportunities to succeed.”

Read more about how Georgia helps companies connect to international buyers.

Protect Your Business As You Expand Internationally

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Expanding your business overseas is an arduous process and involves careful consideration, planning, research, and execution. There are many factors to consider when looking at entering a new market because with the great opportunity for growth comes significant risks as well.

If you have been looking at other potential markets or are even considering taking the plunge into the international market here are some key tips to consider before and throughout the transition into a new market.

SMEs Take on New Strategies to Enhance Innovation

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In the American Express Global SME Pulse, small and medium-sized enterprises (SMEs) in the U.S. and worldwide are optimistic about the economy and confident about their future business performance.

While SMEs are optimistic about the economy and their own business, they also recognize areas for concern. Nearly half (47%) rank economic uncertainty as the greatest external threat to their business. SMEs also identify political uncertainty (31%) and changes to domestic policies, laws or regulations as a key threat (24%).

What is the challenge SMEs will work hardest to address over the next three years?  Developing and implementing innovations.  A surprising fact that came out of the survey is this:  Fewer believe expanding into new international markets will be a contributor to financial performance (27%).  Amex is betting big on India because of its huge growth potential.

Read more ...

How to Dive Into International Markets

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Unsure of how to dive into international markets?  Or are you opting to avoid it altogether?  Especially with recent international uncertainties such as Brexit (UK) and the new President-elect Trump (USA), being wary is understandable.

Yet, how can small businesses not only expand by selling globally, but also ensure that they have a successful outcome despite economic or political uncertainties? Here are five strategies.  The first one being diversify your selling to different markets and countries.

Read more here.

Today in Global Small Business: The Importance of Exim Bank to the Competitiveness of American Exports

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

• What are the 19 benefits to selling in international markets?
• How small businesses can tap into global talent.
• How to create blue-sky thinking.
• The importance of Exim Bank to the competitiveness of American exports.
• Five questions to ask for choosing the right structure for your international website.
• U.S. brands Ocean Spray and Carlson Labs enter e-commerce in China via free trade zones.

Today in Global Small Business: Amazon Launches in China

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

• Why many SMBs have overlooked key strategies to tap into major international markets.
• Will Uber's international expansion plan fail?
• What's causing Israeli television's surprising global reach?
• How opening Israel to imports made it an exporting powerhouse.
• A mega-selling deceased pop star has a new assignment:  the first global brand of marijuana.
• Wake-up China:  Amazon is knocking at your ecommerce door.

Technology Provider GoDaddy Goes Global

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Technology provider GoDaddy, who is dedicated to small businesses, is expanding aggressively into international markets.

GoDaddy’s expanded global footprint offers products and support in 42 markets, 44 currencies and 17 languages. GoDaddy’s goal is to empower small businesses around the world. As part of this effort, the company recently hired new regional heads in EMEA and LATAM, developed a highly localized marketing and advertising presence, and is adapting appropriate products to international markets [4/28/14].

The reason for GoDaddy's global push?

GoDaddy’s global expansion is driven by industry veteran, James Carroll, who has delivered international platforms at Yahoo! and Microsoft. Carroll, who joined GoDaddy in March 2013, is leading the company’s effort to bring the company’s solutions and market presence to customers in 60 markets and 30 languages.

Learn more:  GoDaddy Continues Global Expansion with Launch into 21 New Markets and 14 New Languages

Note:  Most small businesses know of GoDaddy as one of the largest domain name registrars.

Diversify Your Sales Base Through Exports

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Lauren Levy, president of Magnificent Baby has six full-time employees and just over $5 million in annual revenue.  But its turbulent start taught Levy a lesson about how important it was to establish a diversified sales base for the company's infant and toddler pieces, which sell for just under $30 each.

She realized that getting a toehold in some international markets could have a big impact on revenue. "For instance, California was contracting at one point," she said. "The easiest way to replace the sales was to export."

According to Crain's New York Business, Magnificent Baby now sells its goods through shops in Puerto Rico and 20 countries outside the U.S, including Mexico, Saudi Arabia, South Africa and the U.K.

Read more ...

Global Trade Got Easier

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According to a new report commissioned by the UK division of Vodafone Group Plc, a majority agrees that even small firms can expand beyond home market thanks to technology advances and reduced travel costs.

Sixty-eight per cent (68%) of those surveyed felt that it is now easier to trade internationally.  This positive sentiment was particularly strong in retail (71%) and in the travel, tourism & media segment (82%). Nearly two-thirds (61%) see international markets as very important for their companies’ growth. 

Another key finding from the report is that UK businesses have reinvented themselves during the last five years of a stagnant economy to exploit the opportunities of the global marketplace.

Read the entire article:  British businesses says global trade has become easier