Turning Global Virality Into a Science

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Thanks to social media, a message can go global in an instant.  Meet the new global mover and shaker on the block:  BuzzFeed.  According to Slate, "BuzzFeed had 85 million visitors, three times more than just a year ago; by next year, it expects to become one of the most popular sites in the world."

What does that mean for everyone?

Judging by the spectacular results, BuzzFeed has turned “virality” into a science: Thanks to advanced analytics and tools of Big Data, they know exactly what needs to be said—and how—to get the story shared by most people. Its approach is best described as Taylorism of the viral: Just like Frederick Taylor knew how to design the factory floor to maximize efficiency, BuzzFeed knows how to design its articles to produce most clicks and shares. The content of the article is secondary to its viral performance.

Whether you agree or disagree, the article is worth a read.

Read the entire article:  Duolingo, BuzzFeed partnership:  The translation project is terrible for foreign news

The 24-Hour Global News Room

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The 24-hour global newsroom is what Jill Abramson, executive editor of the New York Times is seeking with her rebranding efforts at the New York Times.  It's similar to my goal here with The Global Small Business Blog but with a bias towards helping entrepreneurs and small businesses go global. 

Read:  Going Global - POLITICO.com

Should You Invest in Global Market Research?

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Euromonitor International, experts in strategy research for consumer markets, has put together a 16-page report (2013), "Investing in Global Market Research:  A Strategic Guide for Small to Medium Sized-Enterprises."

The guide covers assessing the value of market research and common uses for market research among SMEs and start-ups.  Page 7 shows a nice infographic on keys to success in small business.  My favorite part is Page 10, which says:  "More than ever before, companies of all sizes are exporting.  In fact, the biggest business in the world is international trading."  There are some good case studies featured as well.  Worth a read.

Immediate download of the PDF file here.

Small is Becoming the New Big

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As Hemant Taneja for the Harvard Business Review's blog says, "A series of breakthrough technologies and new business models are destroying the old rule that bigger is better." Clearly the Internet (i.e., eBay and Amazon) and less expensive approaches to manufacturing (Foxconn, for example) are game-changing moments in our world.

The global business environment is decomposing into smaller yet more profitable markets, so businesses can no longer rely on scaling up to compete, but must instead embrace a new economies of unscale.

What is unscaling?  Well you will have to read the provocative blog post below to find out. But let's just say that small is becoming the new big, which is great news for global small businesses.

Read the entire article along with all its comments:  Economies of Unscale:  Why Business Has Never Been Easier for the Little Guy

Hope You Had a Happy Halloween!

©2013 Laurel J. Delaney.  All rights reserved.

Have a Spooktacular weekend!  Enjoy.

Global Nomad: BagPod

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A passion for fashion becomes a true global business.  How does it start?  Marianne Sparrenius-Waters, founder of Sweden-based RedDog Design shares her story:

"I suppose I was a bit of a global nomad, having traveled the world with my husband and our three children for 25 years before setting up my company in 2005. I've always loved fashion. I'm not an expert but love to be organised so I founded RedDog Design at home to create fashionable, yet simple functional handbags and accessories."

Marianne came up with the idea for a clutch-size organizer called a Bagpod because she was always losing things.  Now her business of leather and canvas clutches, along with phone covers and handbags has evolved to sell in more than 160 shops worldwide from Switzerland to Australia.

Read the entire article here.

Leverage Search Engine Optimization (SEO) to Go Global

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Going global via your web properties is a whole new ball game but the question comes up more often than not:  How do I get the world to find me?

Marc Purtell takes a stab at the subject with, "How to Take Your Brand Global with SEO." One of his many key points:

One of the most important steps in achieving international success for a brand is garnering performance of its Web properties in international search engine results.  Strong organic search performance across a multitude of nations and regions will build both brand awareness and brand influence across the globe.

I talk about this topic extensively in chapter 15 (web translations) of my new book:  Exporting:  The Definitive Guide to Selling Abroad Profitably coming out December 18, 2013.

Read the entire article here.

A Truly Global Education Experience

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One of the leading business schools in Europe, INSEAD (French origin), has taken another step forward in the globalization process by opening a new branch in New York where it will compete against Harvard and Columbia.

Read the interview conducted by Universia-Knowledge@Wharton with Frank Brown, dean of INSEAD:  Making Business Schools a Truly Global Experience

Frank Brown says:  " ... the big advantage European institutions have is that their programs are not dominated by one single culture. They are more open to foreign students who come from other continents." 

The earlier the global education experience, the more likely a student will develop a global mindset and a multicultural perspective on the world. 

India Places 60th out of 148 Economies in The Global Competitiveness Report (2013)

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Is global competitiveness important?  Many believe a country's global competitiveness is a fundamental determinant of its productivity and economic growth.  Improving India's competitiveness, for example, would strengthen investments in the country, encourage a more employment-friendly environment and foster innovation.

The World Economic Forum released The Global Competitiveness Report, 2013-14, which includes, inter alia, a global competitiveness index (GCI) computed as a weighted average of components grouped into various factors (pillars) characterising competitiveness. These pillars include institutional, efficiency and innovation factors.

Where does India stand within the index?

India's GCI score places it 60th out of 148 economies, with its ranking slipping by 10 positions over 2008-2013.

Read the entire article:  Doing Business in India:  Take Up the Slack on Global Competitiveness

Staying Connected Worldwide on Daily Life

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Are you a big fan of social media?  Many people use social media for making connections and sharing just about anything, including insider tips on their holiday trips.

What's changing on social media?  For one, Chinese people are using platforms (i.e., Weibo, Wechat, Instagram and TripColor) more and more to plan and make international trips. They normally make a decision on where to go by reading travel stories and looking at pictures through their social networks. Secondly, which isn't surprising, they "trust recommendations from friends more than the stories published in magazines or aired on TV."

Check this out: 

... "social media comprises a stronger component of travel than ever before, 44 percent of Americans said that photos or posts viewed through such networks drive them to their destinations; another 29 percent added that they receive contentment from reading comments left on their holiday posts."

When it comes to China, that sentiment is no different.  Asians use social media platforms to inform leisure travel decisions. According to Seeing the World Via Social Media, "Online travel reviews had the greatest impact on Chinese people when making initial decisions on travel destinations with roughly 70 percent of them searching online for such write-ups." 

Free WiFi spots are a way of the future.  That is, at least for global travel.

Read more here.

How to Become a Great Global City

©2013 Laurel J. Delaney.  All rights reserved.

The Brookings Institution, which along with JP Morgan Chase & Company created the Global Cities Institute, implores metropolitan regions to look outward to seize new opportunities and become truly global.

Some of the traits you need to become a great global city?

• Local leadership with a worldview.
• A legacy of global interaction that includes a “first-mover advantage.”
• Distinct economic specializations that attract investment.
• The ability to adapt to each new cycle of global change without losing progress.
• A culture of knowledge and innovation that encourages local thinkers and entrepreneurs to “generate new ideas, methods, products and technologies” here.

And the Initiative’s chairman is a former big-city mayor who got things done -- Chicago’s Richard M. Daley!

Read the entire article:  Going Global Requires Regional Effort

A Natural Born Global Entrepreneur

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Let's congratulate Dale Wishewan, president and chief executive of Booster Juice, an international quick-service smoothie chain, who is the 2013 Prairies EY Entrepreneur Of The Year award winner.

Award officials said Wishewan is a natural leader and born entrepreneur. With no franchise, food or beverage experience, he grew Booster Juice to 50 locations in just two years — a Canadian franchising record.

Read the entire article:  Booster Juice CEO name entrepreneur of the year

Taking a Page Out of the Japanese Global Playbook

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Should you expand into emerging markets?  For small businesses, it's a stretch because you need human capital, rich resources and hefty financial support, which can oftentimes be scarce when you are small.  But for established global companies, they are rushing to penetrate BRICs (Brazil, Russia, India and China).  The next question becomes:  What should the BRICs do in response - stay home,  go head to head against the global companies or focus on emerging opportunities?  Or all of the above? 

To answer these questions, we think there is a page out of the Japanese global firm’s playbook that firms from the BRICs and other emerging markets should not follow.

Read the entire article to learn more:  Going Global Is Key For Emerging Giants

Think Different to Expand Internationally

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Expanding internationally is not that difficult, it's just different.  Different from selling domestically.  Yes, you have to pay more attention to documentation, how you get paid and how to transport products from here to there.  But basically, once you master that and some cultural issues, you're well on your way to selling globally.  I'll cover all of this in my new exporting book but for now, read the five tips Elana Donio offers for going global.  Quickly, here's one of them:

Tip #2: Get the lay of the land

Understanding local laws and the business environment is important, but that’s just the beginning. Building cultural credibility is vital for attracting the initial crop of employees, clients and partners.

Tips for Going Global 

When something is different, you must develop the right mindset (attitude) to conquer it.

Design Destination of the Month: Sheraton Huzhou Hot Spring Resort in China

The Importance of a Global Brand

©2013 Laurel J. Delaney.  All rights reserved.

Everyone knows the Apple brand, yet creating a global brand presence in one or more international markets isn't cheap or easy, especially for a small business owner. But it is worthwhile, provided you understand the reasons why. Below I spell out what a global brand is and five reasons to develop one.

Read:  Making the Case for a Global Brand

What a Treat: Chicago Hawks and Halloween!

©2013 Laurel J. Delaney.  All rights reserved.

The official website for the world famous Chicago Blackhawks.

More on the 2013 Stanley Cup Champs here.

Malaysian Entrepreneurs Driven Towards Penetrating the Global Market

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"Twenty-five percent of the local small and medium enterprises (SMEs) will have global market business networking by 2020," says SME Corporation Malaysia Chief Executive Officer Datuk Hafsah Hashim.  This will happen largely as a result of the government's establishment of the Malaysian Global Innovation and Creative Centre (MaGIC) in Cyberjaya, which will increase local entrepreneurs' opportunities to penetrate the global market.

In Malaysia:

SMEs contribute 19 percent to the country's exports and 57.4 percent in job opportunities.

Read the entire article: 25 Percent to have global market business networking

International Franchising As a Way to Access New Markets

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More and more established brands in the retail, food and beverage and quick-service restaurant sectors are using franchising as a way to access new markets.  International franchising is a strategic way to reduce dependence on domestic demand and grow new, future revenue and profit centers worldwide.

Read the entire article:  Expanding into new markets through franchising

Related article:  International Franchising:  A Global Strategic Initiative

Selling Nearly 2.5 Billion People Around the Globe Online

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According to a recent study by MasterCard, people adopt personas when shopping online — an interesting consideration for ecommerce businesses.

The Digital Sharing and Trust Project shows that consumers actually shed their “real-world” identities when they go online to assume “digital personas."  To be more specific, there are five different personas parading themselves around the web today.

What does this mean for selling in the online world?  It means getting to know your customers can be tricky.

Learn more:  5 global online personas your business should take note of