Innovation Will Transcend All Boundaries

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We need to innovate our way to a new business model, at least that's what The New York Times, Sunday, February 1, 2009 article, "Disruptive Innovation, Applied to Health Care," states regarding health care.

Using innovation management models previously applied to other industries, Clayton M. Christensen, a Harvard Business School professor, argues in “The Innovator’s Prescription” that the concepts behind “disruptive innovation” can reinvent health care. The term “disruptive innovation,” which he introduced in 2003, refers to an unexpected new offering that through price or quality improvements turns a market on its head.

Disruptive innovators in health care aim to shape a new system that provides a continuum of care focused on each individual patient’s needs, instead of focusing on crises. Mr. Christensen and his co-authors argue that by putting the financial interests of hospitals and doctors at the center, the current system gives routine illnesses with proven therapies the same intensive and costly specialized care that more complicated cases require.

This falls right in line with our Trend No. 1 in Top 10 Global Trends for Small Businesses for 2009 (published January 21, 2009):

1. Disruptive innovation will be both the coolest and hottest new growth strategy in 2009 because it will transcend all boundaries and transform businesses.

Clayton Christensen, a Harvard Business School professor who focuses on innovation, discusses this very same topic in “How Hard Times Can Drive Innovation.” Also, a hip report by Trendwatching covers half a dozen consumer trends for 2009 and supports Christensen’s, and our theory, with prediction No. 6: Happy Ending. It states:

“At the same time, this is a great moment to innovate: shrinking budgets and diminishing revenues from existing offerings normally bring out the best and most creative in business professionals.”

Economist Joseph Schumpeter popularized a similar concept called “creative destruction” in 1942 in his book, “Capitalism, Socialism and Democracy,” that describes the process of transformation that accompanies radical innovation. Look for more of this type of disruptive innovation in 2009.

In Search of Global Excellence

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How can you better serve worldwide customers in 2009? By applying and hopefully winning the 2009 Dell Global Small Business Excellence Award.

In its sixth year in the United States and second year globally, the award gives small businesses applying technology in innovative ways to better serve customers a chance at up to U.S. $50,000 in Dell solutions and a meeting with Dell Chairman and CEO Michael Dell.

Call for entries have already started with the first round of submissions due by Friday, April 3, 2009. Ten national finalists per country will be announced in mid-June and the 13 national winners will be announced in September 2009.

India is the newest country to participate in the global award and recognize local small businesses for technology leadership. Additional countries participating include Australia, Brazil, Canada, China, France, Germany, Italy, Japan, Mexico, Spain, the United Kingdom, and the United States.

For a description of the award criteria, rules, award levels, partners and judges and to complete an application, visit here and good luck!

International Council for Small Business

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Because we are so passionate about helping you -- entrepreneurs and small businesses -- expand your business internationally -- we decided to become a member of another organization that is equally as committed: The International Council for Small Business.

Founded in 1955, the International Council for Small Business (ICSB) was the first international membership organization to promote the growth and development of small businesses worldwide. The organization brings together educators, researchers, policy makers and practitioners from around the world to share knowledge and expertise in their respective fields.

One of our trusted colleagues, Dr. Jeffrey Cornwall, is also a member so when you have time, check out what ICSB has to offer ... lots of tips, tools and resources to enable you to learn more about going global ... and see if membership might benefit you too.

Knowledge sharing helps improve our global economic environment and fosters an understanding and appreciation for each country's contribution to the world marketplace.

Global Market Access

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Very interesting opinion piece in the WSJ:

First, America must remove trade barriers on exports from the poorest countries, regardless of trade policies in those countries. With global market access, poor countries would automatically attract private investment, despite their institutional weaknesses. These institutions would become stronger over time as businesses flourish. Private investments capitalizing on access to global markets would necessarily employ low-cost labor, thus creating jobs.

Next, small entrepreneurs can be bolstered with seed money in the range of $25,000. Small entrepreneurs create jobs, products and services that form the bedrock of flourishing democracies. With some tangible changes in its operation, the International Finance Corporation (IFC) within the World Bank Group could promote development through entrepreneurs. The World Bank should stop lending to governments and be absorbed into the reformed IFC.

Read more here.

Davos Delivered

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Take in what's happening at the Annual Meeting Davos, 2009.

Valerie Jarrett, key assistant to USA President Barack Obama, says this:

We must enter a "new era of global financial responsibility."

World Economic Forum: Global Agenda (2009)

Going Global Out of the Gate

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Going global from day one, OleOle is a start-up founded by an American with a Chief Technology Officer who is a New Zealand resident. Much of OleOle's technology development is done in its New Zealand office.
The product is a social media platform for football (also known as soccer in the United States and New Zealand), with 10 language versions.
It began development in 2006, opened as a public beta in 2007 and officially launched in April this year.
Read more here.

Localization Solutions in a Global Marketplace

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Choosing a good-fit localization vendor such as Globalization Partners, CSOFT, Eriksen, LinguaLinx or Common Sense Advisory, for example, is not an easy feat. But you must at some point because going global is a good route for companies looking to weather the economic downturn.

Ms. Shunee Yee, CEO of CSOFT -- a localization/globalization firm -- says this:

Expansion into new markets can help companies stave off the ill effects of a volatile domestic economy. While gaining access to the global marketplace was once reserved for only the largest multinational companies, recent advancements in communication technology and trade have allowed companies of all sizes to enter the international arena. A critical step in reaching global markets is a well-crafted globalization strategy that allows for efficient product deployment that meets local cultural and language requirements. Localization has become the answer for businesses worldwide seeking to enter new markets efficiently and effectively.

More from CSOFT here.

Despite Economy, Ultra Large Ships Serve the World

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Thinking about moving all the contents out of your three-bedroom house and from one country to another? We know one of a handful of shipping lines you need to hire! No problem.

They have the capacity (more than ever right now due to tough times for global trade) to move 22,000 containers at a time. Yes, you read that right.

Read more here.

Happy Chinese New Year of the Ox

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May the New Year of the Ox bring you all the best -- happiness, good health, great prosperity (through fortitude and hard work) and abundant blessings in 2009.

Voice of America: Chinese Welcome the Year of the Ox.
Time: The Chinese Zodiac

Small Businesses Will Shape Our Future

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Tough times call for smart action. And it's inspiring to see that there is an intelligent program available that identifies small businesses with the greatest potential -- offered with the support of the U.S. Small Business Administration's Emerging 200 (e200) Initiative.

e200 helps small inner-city businesses that have substantial potential for growth connect with high-level training, networking and other resources that can help them succeed. The program was launched in 2007 in Milwaukee and nine other cities. This spring it will be expanded to 15 more.

"Programs like e200 are important because they help people create capacity," says Eric Ness, SBA district director for Wisconsin. "That's something we must do if we're going to be competitive in a global economy."

Small businesses will continue to help shape our future.

New Global Shopper Study

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A new global shopper study, “Shopper Decisions Made In-Store” (SDMIS,) reveals what’s truly happening in the world’s retail shopping aisles. An excerpt:

What works in China won’t work in Germany. Shoppers behave differently inside the store in every country.

Shoppers in China decide what category to buy from, which brand to choose and how much they will buy inside the store 88 percent of the time, but in Germany that number plummets to 38

No two countries are exactly alike. So when it comes to marketing to a Shopper, Marketers can think globally, but always need to act locally, armed with local expertise on how best to engage the Shopper in each country.

Global Small Business Trends for 2009

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Here's my list of top 10 global small business trends for 2009.

The Way The World Works

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According to Samuel J. Palmisano, Chairman, President, and Chief Executive Officer, IBM, something meaningful is happening worldwide (and it didn't just start yesterday in the U.S.A.).

A question he poses:

Ask yourself: As the planet becomes smarter, is my company—or my country—becoming smart enough to keep up, and to win?

Find out his thoughts here.

World, Meet Our New President of the United States of America: Barack Obama

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Making history, together.

Video of inauguration.

Global Celebration of the Life of Martin Luther King

On a Wing and a Global Prayer

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Miracles happen.

• iReporter: "It looked liked a perfectly smooth landing."
• AP: Survivors offer praise, gratitude after NY crash
• The Times: US Airways Plane Crashes in Hudson River
• 1549 to Tower: "We're Gonna End Up in the Hudson" -- includes video clip.
• Major hero: Pilot Chesley B. Sullenberg III (miracle, yes, but Sullenberg is also a glider pilot and extraordinarily smart -- we are all very blessed to have had him in charge)

Small Exporter in China

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I am a small exporter in China, and I have been deeply depressed because of the financial crisis. Please give me your advice about how to survive in this difficult time for small business owners, especially Chinese facing the downturn of the exporting market. ~ D.L., Dalian, China

Read BusinessWeek columnist Karen Klein's response here.

And I add: You can't cut your way to prosperity. Start innovating, get lean and look for and seize opportunities wherever in the world it makes sense (like an economy that is "open for business"). When things pick up, explore more options here.

Be conservative. Stay liquid. Don't retire.

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Read more of what Thunderbird (School of Global Management) Professor F. John Mathis, Ph.D., sees when he looks into the future.

Also take a good look here for more interesting research and opinion pieces, especially here.

Agree? Disagree? Let us know.

Get Tough On Trade

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The news is everywhere on how trade is declining sharply around the world. And it's hitting big and small companies. According to a WSJ article (1/14/09):

Falling trade also is cutting the U.S. trade deficit because imports are falling more than exports -- in November, U.S. imports fell 12 percent from the previous month compared with 5.8 percent for exports. The deficit shrunk to $40.4 billion from $56.7 billion in October; it was the smallest deficit in five years. That in turn helps raise estimates of U.S. fourth-quarter gross domestic product.

Despite the grim news, this is not a time for you to hunker down. It's a time to get tough, develop your global strategy and run a lean, mean global business machine. Check in here periodically for tips, resources and articles to keep you going and to learn as much as you can about expanding your business internationally. It can be done -- but you must stay focused. Visit here for some good advice too.

When the sun breaks through the dark economic clouds, you will be poised to take on the world.

America in the World

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Take a look at GlobalPost.com. The free, BOLD initiative (supported by ads) will offer frequent dispatches for an American audience to supplement coverage from the AP, Reuters and other news organizations still covering the world.

GlobalPost intends to sell stories that cut across national boundaries and tie the world together -- to papers to run in print or online. Their mission statement is here.

Startup feature question: What does the idea of America mean to the world? To find out, read: For Which It Stands

Small Business Advocate Could Head Ex-Im Bank

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Fred Hochberg, a longtime advocate of small business, could head Ex-Im Bank. Ex-Im Bank mission: To finance sales that the private sector considers too risky to fund on its own. Hochberg currently is dean of Milano The New School for Management and Urban Policy.

Hochberg has a diverse business background:

• Held top positions at SBA (under Clinton administration).
• Was in direct sales industry positions.
• Spent bulk of his business career at Lillian Vernon Corporation, leading the transition from private enterprise to publicly traded company (president from 1989-1993). It appears he is the son of Lillian Vernon.

Ex-Im Bank has made an effort to emphasize lending to smaller companies -- $3.2 billion of its $14.4 loan authorizations last fiscal year went to finance exports by small firms.

"The SBA must assert itself more aggressively in the area of procurement to ensure that small businesses are receiving a greater share of federal contracts," he wrote in a 2006 op-ed in Inc. magazine.

Read the entire article here.

Introducing Women Entrepreneurs GROW Global (WEGG)

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We are happy to report the launch of a new social enterprise, Women Entrepreneurs GROW Global (WEGG / www.womenentrepreneursGROWglobal.org). WEGG will bring global opportunity to women entrepreneurs worldwide.

The Global Small Business Blog is the first official sponsor to WEGG.

Check out the roster of consequential thought-leaders who, when they have something juicy and relevant to report, will be contributing to WEGG:

Sharon Barner, Partner, Foley & Lardner LLP
Anita Campbell, CEO of Small Business Trends LLC
Raman Chadha, Executive Director of the Depaul University Coleman Entrepreneurship Center and on the faculty of the highly ranked academic program in entrepreneurship
Linda Darragh, Director of entrepreneurship programs for the Chicago Booth’s Polsky Center for Entrepreneurship and Adjunct Associate Professor of Entrepreneurship
Marsha Firestone, Ph.D., President and Founder of the Women Presidents’ Organization
Suzy Fox, Ph.D., Associate Professor and Chair, HRER, Loyola University Chicago — primary research interests center around the well-being of employees in the global workplace
Dawn Harris, Ph.D., Director, Gannon Center for Women and Leadership, Loyola University Chicago
Mary Joyce, Network Director, U.S. Department of Commerce, Midwest Export Assistance Centers
Karen Kerrigan, President & CEO, Women Entrepreneurs, Inc.
Steve King, Founding Partner, Emergent Research
Carolyn Okels, Founding Partner, Emergent Research and Small Business Labs
Leslie Schweitzer, Senior Trade Advisor for the U.S. Chamber of Commerce and Creator of the TradeRoots Initiative
Whenever you see a WEGG badge (noted above), it means the person is an official expert (as I am -- look at The Global Small Business Blog right sidebar) and contributor to WEGG.
We wish to thank Rosa Berardi, Program Manager, The Coleman Foundation for her special assistance and support to WEGG and, of course, we wish to thank our contributors for their willingness to share their knowledge.

Please visit us as often as you like (men are welcome too because a couple of our WEGG experts are men and some of the information will apply to both men and women alike). And definitely let us know when you catch any news, resources, research, events or women entrepreneurs doing great things worldwide that relates to Women Entrepreneurs GROW Global.

Cold Snowy Chicago Winter

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Above is a glimpse of what the weather is like in Chicago. Lots of snow with chilly winds. I bundled up, did some shoveling and took a daring walk by the lake to capture this moment.

Hope it's a little more bearable in your part of the world.

In the meantime, wet-cold-rain-snow, the folks at Wal-Mart are building an international empire.

Global Corporate Culture

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Tune in to Accenture's globalization channel.

Here's an example:

Maintaining a Common Corporate Culture Is a Big Concern for Global Executives

Globalization Repaired

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Chris White over at Good Gold Global was kind enough to comment about a Newsweek article, "How To Fix Globalization," in our Re-embrace Globalization post and I wanted to make sure everyone saw it.

Read more here. At the same time, check out The Global Elite video on the 50 most powerful people in the world.

The Magnificent Seven: Global Business Books in 2008 Worth a Read

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A couple of noteworthy global business books that were published in 2008:

1. A Splendid Exchange: How Trade Shaped the World

2. Global Business Leadership

3. Globality: Competing With Everyone From Everywhere For Everything

4. globalization: n. the irrational fear that someone in China will take your job

5. New Frontiers in Free Trade: Globalization's Future and Asia's Rising Role

6. Street Smarts for Global Business

7. The New Age of Innovation: Driving Co-Created Value Through Global Networks (CK is one of my favorite authors -- book pictured above)

We will be making the adjustment to Borderbuster on Squidoo soon.

Blog Series On Internationalizing Your Company

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Over at the OPEN Forum by American Express, I'm doing a blog series on internationalizing your company. Here's Part 2: Building Your Crack Export Team of what will become a 5-part series.

And the usual ... if you find it useful, say so. If not, let me know why. Many thanks.

Borderbuster 2009

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In case you are not a subscriber to our world famous Borderbuster e-newsletter (www.globetrade.com/borderbuster.htm), we want to share point No. 8 of today's edition.

8. EVERYBODY LOVES A FREEBIE: BEYOND THE CRISIS: THE FUTURE OF THE GLOBAL ECONOMY*Subscriber Exclusive*
On October 23, 2008, at a conference developed by Big Think and sponsored by strategy+business, financier George Soros, former U.S. Treasury Secretary Lawrence Summers, and Nobel Prize–winning economist Robert Merton discussed and debated the current global financial crisis in New York City. Tom Stewart, the chief marketing and knowledge officer of Booz & Company, moderated the event, which took place at City University of New York.

Tune-in to the videocast here.

=> Don't miss another edition of Borderbuster in 2009. Sign up here.

Re-embrace Globalization

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In case you missed it, The Economist has a special edition out called The World in 2009. Pick up a copy. It's worth a read, especially the Time to Re-embrace Globalization commentary by Jeff Immelt, chairman and chief executive of General Electric.

He urges business and political leaders to embrace competition, not protectionism, as the way through economic turmoil and his last Point No. 6 is spot-on:

6. Each of us must contribute. Developed and developing countries, governments and industry, shareholders and employees -- we all share a responsibility to make meaningful contributions to protect and strengthen the international trading system.

Thomas Edison, GE's founder, used to say that people don't recognize opportunity because it "usually goes around wearing overalls looking like hard work." To succeed in our swarming global economy, leaders must not resist the challenge but relish the opportunity, especially in these harder economic times. True leaders must re-embrace globalization.

Take the Plunge: Borderbust in 2009

Global entrepreneurship in action! We are happy to report that a simple, reflective walk by the lake -- one year ago today capturing an experience -- has brought fun, joy and fame (a little) into my life.

On the eve of our new year, I was notified that I am a finalist for the 1,000 Words Annual Photo Issue contest through the Chicago Reader. Winners will be announced in the next couple of days by a drawing (which I am relieved to hear because if they seriously judged with a panel of experts, my photo (as shown above) would never cut it against the 23 others; you absolutely must take the time to view them all ... powerful, creative work).

Backstory on photo: It's Polar Bear Plunge Day in Rogers Park, Illinois where I live and folks on the first day of the new year strip off their clothes and jump into the lake regardless of what the temperature is. How wild is that?! There must be similar sorts of traditions in other parts of the world (please share). And on this particular day, 1/1/08, when I took the photo, it was 22 degrees F.

So whether you realize it or not, global entrepreneurship plays into every aspect of our life. A natural, self-expressive act -- anywhere in the world -- can end up generating revenue. In this case, if we win, a U.S. $150 Best Buy gift certificate will be ours to spend as we see fit (maybe donate to a worthwhile social enterprise). But isn't that what global entrepreneurship is all about? Making a living out of doing good, setting out to change the world and pursuing a passion?

Let's keep our fingers crossed that we come out a winner in 2009! Stay tuned.

Now to you my reader. It's your turn. Take the plunge and borderbust in 2009. Let's work together to make that happen. You'll come out a winner too!

Happy New Year!

Tear Down Boundaries in 2009

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Happy New Year to loyal colleagues, fabulous friends and cheering fans of The Global Small Business Blog! We thank you for your support and readership throughout the year. It makes pursuing our passion that much easier and worthwhile for us.

We hope that we brought you context, insight and authority on global small business news all year long. After all, our blog is designed to help you better understand what it takes (and why) to expand your business internationally -- providing useful, action-oriented news and information -- and we intend to keep delivering on that promise until you tell us otherwise.

We will be back with you at the crack of 2009. We submitted our annual "Global Small Business Trend 2009" report to Small Business Trends a couple of weeks ago and that should be published momentarily. We will share it with you just as soon as it's available online.

In the meantime, get ready to tear down the boundaries on your business and go global in 2009! We've got exciting news to share with you on January 5th so stick around and stay tuned.

From my home in Chicago to yours ... be the change you want to see in 2009!

Keep on Trak.in'

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No, that's not a slip. You thought I meant to say, "Keep on truckin'" but what I truly mean to say is exactly this: Keep on Trak.in'.

A fine little Indian business blog featuring the latest buzz on Indian business and the startup world. The picture above is their holiday message.

Get Your Web Globalization Management Certificate

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How do you harness technology for global market expansion in 2009? Get a Web Globalization Management Certificate which will provide you with the cutting edge skill to conduct international business in a networked global economy.

Participants will learn to leverage web technology to tap global markets, conduct international e-commerce, manage virtual teams, develop network alliances, achieve culturally consistent global communications, and much, much more.

Learn more here.

Peace on Earth

May the joys of the season shed light, hope and fill our hearts with peace.

HAPPY HOLIDAYS to you and yours.

Note: I took this photo a couple of blocks from my home in Chicago along the lakefront.

Small Businesses Hunt For Business

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With the economy slowing at home (U.S.A.), small businesses are on the prowl for business -- anywhere. The dollar is on a bumpy ride ... read more here.

Global Business Education Remains Strong

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Despite the economic crisis, international education remains strong. At EM Lyon Business School (home of the World Entrepreneurship Forum that I attended last month) in France where they claim to educate entrepreneurs for the world, dean Patrice Houdayer, says:

... the school's global and entrepreneurial focus will help grads of one of Europe's oldest business schools succeed, even in a tough economy.

Houdayer's prediction for growth areas?

Students who will go from the (U.S.) and Europe to Asia and Africa. I think Asia, Africa and South America will be a target for the next generation to take their second or third job because the growth is there.

Read more here:

World Bank Group Takes On Second Life

31 Global Gadgets

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We thought we'd change course a bit by turning your attention to Popular Mechanics and its latest Wish List 2009. Who knows ... maybe some new sourcing ideas might pop up for you. After all, many of these products are made all over the world. Enjoy.

Designer Labels Are Losing Their Appeal in Japan

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Considered the world's leader in luxury goods, LVMH Moët Hennessy Louis Vuitton SA, canceled plans to rent a 10-story building in central Tokyo for a new flagship store. It shows how the global economic downturn has hit Japan, one of the most important markets for the luxury-goods industry.

What struck me is this:

Emerging markets make up about 15% of the luxury-goods sector's overall sales and had in some places been reporting double-digit growth. But as the global financial crisis has knocked down Chinese and Russian stock and property markets, wealthy consumers are under pressure to cut spending.
Japan, meanwhile, makes up 12% of the luxury sector's global sales of €175 billion ($240 billion), according to a Bain & Co. study released last month. But the Bain study said Japan's luxury sales are expected to decline 7% in 2008, after a 2% decline in 2007. LVMH reported that in the first nine months of 2008 Japan sales were down 7%, as its world-wide sales grew 4.5% in the period to €11.6 billion.

Who would think that emerging markets would be snatching up expensive luxury goods?

Read the entire article here.

Global IT: To Have Or Not To Have

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Microsoft Corporation launched the results of its "Global Small Business Index, October 2008" looking at how small businesses use and manage their IT, as well as their attitudes toward hosted IT services. There is a growing demand for software as a service worldwide.

Findings vary across the board from country to country:

- Half of the small organizations were found to receive some kind of information or support from public services or government bodies. The exceptions were Russia, where the figure is 32 percent; Italy, where it is 39 percent; and Japan, where the figure is 40 percent.

- Overall, 61 percent of respondents said that professional-looking communications were either “critical” or “very important.” Swedish, Russian and Australian small businesses are especially keen to promote the professional image, while Japanese and Chinese small businesses thought it a lower priority.

- While only 15 percent of respondents noted “IT issues” as one of their top three time-consuming activities, in certain countries this task was seen as much more time-consuming — for example, in Sweden and Canada.

- Sweden was seen to be at the vanguard of IT utilization among respondent countries, with above-average adoption of technologies such as mobile e-mail, company-branded e-mail, customer databases and e-commerce Web sites. The U.K. and Russia also scored highly, with China and France showing less adoption of technologies.

- The U.S. and France are the countries where small businesses are most likely not to have any IT, both at 9 percent. Only 3 percent of Russian small businesses have no IT.

- Most of the time, IT support is provided by either the respondent or by someone within the organization, either a professional or an amateur. Occasionally, small companies will recognize that they need to invest in professional IT support; as suggested earlier, this is particularly so in Australia, where 34 percent of respondents used an external IT service and support company.

- The local or national retailer of IT support is very important in this context, as is the online merchant. Around 89 percent of the respondent organizations use one of these three sources. While the British and French respondents use online more than most, Australian and Japanese organizations seem to prefer the local IT provider.

- Overall, 65 percent of respondents said either “yes” or “maybe” when asked if they would consider using a hosting service.

- About 47 percent of small businesses in total said their business would be better if they had more IT resources. Russian (72 percent) and Chinese (83 percent) small businesses felt most strongly about this, suggesting that small businesses in those countries felt IT provided a competitive enablement and advantage.

- About 58 percent of small businesses revealed they use IT skills in-house, while 63 percent (in another question) said they believed larger enterprises with more IT resources gain a competitive advantage. Swedish small businesses were most likely (23 percent) to employ an IT specialist, while many Canadian (20 percent) small businesses also employed an IT specialist. About 34 percent of Australian small businesses used outside IT services and support, much more than any other country.

More here.

Set Expectations With Global Strategic Partners

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One of the toughest aspects to finding good overseas partners in any part of the world, and particularly in BRIC (Brazil, Russia, India and China) countries, is to first -- after you've got serious interest -- get specific answers to the following questions:

1. How will the partner assist with market entry?
2. What will the partner do if you run interference with law-enforcement authorities?
3. How will the partner alleviate bribes?
4. How will they help you protect your money?

Bottom line: Your partners need to know what you expect and they should also protect you from what you don't know if at all possible.

Read more about what's involved here.

How To Get Started In Exporting

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I posted over at the OPEN Forum at American Express, "On Your Mark, Get Set, Go Global." It's about how to begin the export process. This will be a five-part series so I hope you stay with me.

Should You Take The Leap to Go Global?

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Founders of Billpoint, Inc. (not sure how successful it's been), Achievo Corporation, and Israel-based FraudSciences Corporation (which appears to have been bought by PayPal) talk about what it's like to start a company and take it global.

Chen says about his leap to go global:

"You look out over the cliff, and it's exhilarating. It looks like a lot of fun. But sometimes you want to jump off," Chen said with a laugh.

It's not quite like that. Every experience is different. But doing a little homework helps immensely to reduce risks and the fear factor. That's why we created this blog!

Note: After a some cyber-searching, it looks like Billpoint, Inc. was bought by PayPal too!

Global Free-Trade Network

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Did you know? Imports and exports equal slightly more than 20 percent of gross domestic product, the broadest measure of economic output? That's what Sung Won Sohn, an economics professor at California State University, Channel Islands, says.

Read more here. Do you agree or disagree with the reporter's piece?

Best New Business Startup in 2009: Going Global Firms

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In case you missed this (I was in France the day of posting), Matthew Bandyk over at US News and World Report wrote an interesting piece called "Best Small Business to Start: Going-Global Firms."

He mentions two very good reports that you might want to back track on:

1. UPS Business Monitor Report (Global, Americas, Europe and Asia -- I am sure they will update soon to reflect our current global economic environment).

2. Intuit Future of Small Business Report (all three report segments are featured and offer a beacon to the future).

And we are always delighted when our blog is mentioned (hat tip to Matthew even if we are a little late!).

Planet Entrepreneurship

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Take some time to view data on new business creation around the world. The measures of entrepreneurial activity are calculated from data collected directly from a registrar of companies and based on the number of total and newly registered corporations. Be sure to click on the color markers to learn more about each country.

Also, take alook at The 2008 World Bank Group Entrepreneurship Survey (WBGES) which measures entrepreneurial activity in over 100 countries/industrial countries around the world over the period of 2000-2007 and illustrates that entrepreneurship leads to prosperity for economies.

Additional information can be found here.

Best of the Best Macaroon Cookies

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While in France, I had the pleasure of discovering the much-talked-about Laduree macaroon but did not have an opportunity to taste one. Do you know of it? It is considered the best-of-the-best of macaroon cookies.

These small, round cakes, crisp on the outside, smooth and soft in the middle, are made every morning in Ladurée’s "laboratory." With each new season, Ladurée pays tribute to this its most famous creation by creating a new flavour (pictured is the flavor for autumn --Macaroon Mangue Jasmine).

I am happy to advise that Laduree has a website but for the life of me, I cannot figure out if they ship "fresh to U.S." Can anyone help me out?

Check out Laduree here (but turn your computer's volume down first!) and explore their product offerings here.

You will understand why I crave a Laduree macaroon.

How To Expand Business In An Existing Overseas Market

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As featured today in our Borderbuster newsletter (www.globetrade.com/borderbuster.htm) ...

Q: To Ask The Expert,

I want to expand my business in the market to which I currently export. What would you suggest that I do to increase exposure?

A: From Laurel,

Good to hear! You must be receiving an excellent return-on-your-export-investment to ask such a question. Presumably, you have already estimated the market potential of your product line. And I hope you know whether it is homogeneous or not. For example, there are three main languages -- German, French and Italian -- in tiny Switzerland. You must factor this diversification in when considering export expansion models.

There are a number of steps you can take to further expand and increase exposure. Here are eight:

1. Review your distributorship agreement to make sure you are not legally bound to have only one representative in the overseas market to which you are exporting. This is based on the assumption that you are expanding your market coverage with an existing product line.

2. Determine whether local practices or regulations limit the use of a single distributor. There are numerous advantages to single distribution -- from lower-cost shipping to more cost-effective advertising and marketing to greater clout in the marketplace. You need to think this through before you begin to expand.

3. Communicate with your agent or distributor by letting him or her know that you are eager to expand to other parts of the country. This should take place after you pre-clear Points 1 and 2. Ask if they are interested in representing your company in a new geographic area -- provided they have done a good job up until now -- and find out if they are willing and able to take on this new responsibility. If not, then request a referral to someone who might be. Agents and distributors network constantly. Attend the same trade shows and belong to the same trade associations.

4. Contact the chambers of commerce in the country where you wish to expand. Explain your market position and highlight where you plan to go next and why. Ask for help. That's why they are there.

5. Contact your local trade association and request membership lists of its counterpart groups overseas. See if one matches up to yours. Contact the members on the list to see if they are interested in working with you.

6. Contact a binational group that brings together expatriates and Americans for joint action or through interests in several areas -- political, cultural, business or linguistic. In most foreign
countries, binational chambers of commerce play a far more important role in the local business community than they do in the United States. Membership is considered a sense of pride. They can help you meet foreign companies interested in making contact with potential U.S. business partners.

7. Exhibit at a trade show in the country where you wish to expand. Check with local chambers of commerce, your trade association or your distributor. They should be able to provide you a listing of show dates related to your industry.

8. Set up a warehouse in the overseas market. As your business develops, you should consider setting up a warehouse in the market, stocked with goods to be sold by a salaried staff. This will ensure you have total control over your product and customer base.

By taking advantage of these tips, you can gain greater access to the area you are currently exporting to, increase sales and look for new representation.

Good luck and let us know what happens.

Additional: It can't hurt to check this out too.

Dubai International Financial Centre

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The Dubai International Financial Centre is considered one of the fastest growing international financial centers in the world -- along the likes of Hong Kong, London and New York (pre-global financial crisis).

Doing business in the free zone in Dubai requires you do some homework and hire an expert who knows the ropes to help you avoid any pitfalls. Alternatively, you can start on your own here by contacting these folks listed (notice that their email addresses are governmental) and ask specific questions based on your intent so you know where you stand when you do connect with an expert.

Start exploring now so you can be first up when opportunities abound.

An Inconvenient Truth About the Japanese Diet

The Japanese Ministry of Agriculture, Forestry and Fisheries (MAFF) put together a simple, easy to understand video that shows what's happening in the Japanese food (farming) industry and how, as a result of radical resource changes, Japanese diets are becoming quite unhealthy.

My takeaway: We should consider exporting cheap, high quality nutritional food items to Japan!

Openness, Innovation and Dynamism

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That's what we are looking for in the global digital economy. Learn about the Center for Global Innovation and check out some of their published articles here.

Snapshot of one:

• "Not So Flat After All" by Bret Swanson, Progress Snapshot 4.20, October 1, 2008

Which Way Will The Dollar Go?

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Here's a glimpse into why the dollar is getting stronger. It's hard to say whether it will keep appreciating ... best to take a hybrid approach to globalization ... sprinkle it with imports, exports and a healthy dose of outsourcing. That way, no matter which way the dollar blows, you'll be poised to ride it out.