There are Great Opportunities to Conduct Business Abroad

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By recognizing that borders still matter, says Pankaj Ghemawat, author of World 3.0:  Global Prosperity and How to Achieve It, companies can better calibrate which markets and trading partners offer the best chance for truly global gains -- further clarifying that there are great opportunities to do business abroad.

Read the entire article:

Creating a Smart Export Strategy

Related posts:

The Regional Slice of Your Global Strategy (2/4/06)

Redefining Global Strategy (8/17/07)

Posted by:  The Global Small Business Blog

Memorial Day: Coming Together Globally To Honor Those Who Gave Their All

©Laurel Delaney

Remembering those who have died in our nation's service.  Memorial Day in the United States is observed on the last Monday of May (May 30, 2011).

Back with you on Tuesday, May 31st.

Top Dubai SME Exporting Awards

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Dubai Chamber of Commerce and Industry honored the top export performing companies during SME Exporter of the Month recognition ceremony held at the Chamber facility.

Certificates of Recognition and the SME Exporter of the Month trophies went to:

1. Afegra Middle East FZE as a start-up company with the highest invoice value for the month of February.
2. Lisec Middle East Ltd FZE as most progressing company with the highest export growth rate during 2011.
3. Meka Emirates Trading for achieving the highest total invoice value during April 2011.

"More than 90 per cent of businesses in Dubai are SMEs and so their success and performance is vital to the overall health of Dubai’s economy," says Dr. Belaid Rettab, Senior Director, Economic Research and Sustainable Business Development.

Read more about the top Dubai export honors here.

Quote of the Week: Donald Murray

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 Resources Global CEO Donald Murray (not pictured)
"We currently see more upside in China from new emerging companies that are going global." ~

See how Resources Global (RG), a unit of Irvine, California-based Resources Connection Inc. (Hoover's listing here), assigns its 3,000 full-time consultants spanning across four continents to work on clients' projects.

Resources Global Eyes Chinese Firms Going Global

RG competes with Deloitte, KPMG, Ernst and Young and Accenture.  Too bad there is no global small business practice.

Posted by:  The Global Small Business Blog

Biggest Barriers to Global Communications: Culture and Language

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According to a study commissioned by the Public Relations Global Network, one of the top international networks of independent public relations agencies, organization surveyed indicated that the biggest barriers to global communication were culture and language, each cited by more than 40 percent of respondents.

That and one other interesting finding:

... even organizations that are not operating globally today said that they expect to have a global marketing communications function in the future,” said Francine Robbens, PRGN president and partner at Brussels-based PRP-Public Relations Partners.  “Communications professionals see clear benefits in fostering global relationships.” 

Read the entire news piece:  Marketing Executives Going Global:  Survey

Mad About Trade and By Golly, I Am Going To Do Something About It!

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Okay, first things first, I have not read this book, just love the idea of it because I have always felt there is value in international trade.  I am so pro-global trade, can't you tell?  International trade expert Daniel T. Griswold, director of the Cato Institute's trade policy center, makes a persuasive case against U.S. protectionism.

Mad About Trade appears to be a readable and enjoyable defense of free trade which tells the (debated) story of how a more global U.S. economy has created better jobs and higher living standards for American workers.

That said, it might be worth a serious look.

Mad About Trade:  Why Main Street America Should Embrace Globalization

Related article: Free or Protected Trade?

Posted by: The Global Small Business Blog

Reinventing the World of 'Cars'

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“Wherever you can go in our world, we can go in the world of ‘Cars.’” ~ Director John Lasseter

... it was during the international publicity tour for “Cars” that the director first imagined his car-cast in a global setting. Lasseter says he took in the mayhem of international locales like Tokyo and Paris laughed to himself thinking, “what would Mater do?” “The story of ‘Cars 2′ was sparked by the idea of taking Lightning McQueen and Mater overseas,” says Lasseter. “Lighting McQueen is invited to compete in the World Grand Prix to race against the fastest cars in the world in three fantastic locations: Japan (shown above), Italy and the U.K. Of course Mater, who has never left Radiator Springs, is completely out of place in these distinctive cultures, which leads to hilarious comedic moments.”

Read the entire spread (it's phenomenal in terms of the color graphics and the historical aspect of taking 'Cars' global):  Pixar's 25th Anniversary/CARS 2:  Going Global

Tiptoeing Through Tulips Today, Tomorrow and Tuesday

©Laurel Delaney

"Life isn't a tiptoe through the tulips." ~ Shannon Hoon

Enjoy your weekend!

Understand the Demands of Customers in Global Markets

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Building strong emotional bonds between consumers and Chinese brands remains a work in progress.  Take Haier (Haier America), for example, which ramped up efforts to go global in 1999.

It sold niche products such as small refrigerators to college students and wine cellars, and opened manufacturing plants in the U.S. and elsewhere to bring production centers closer to priority consumer markets.  Haier has distinguished itself among Chinese companies in efforts to build a global brand.

Understanding the demands of customers in global markets is just one of the many challenges Chinese companies face in light of increased global competition and operating in a fast, interconnected world.

Learn what other challenges lie ahead for Chinese companies here.

Related post:  Why China Has So Few Good Brands

Be Ready If Your Product Hits It Big Globally

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The article below is confusing but touches on a few key points when it comes to expanding your business internationally.

For example:

Companies should develop what moderator and paid Content Executive Editor Ernie Sander called “the inverse of a disaster plan:"  Track the numbers and be ready if your product hits it big globally. “A lot of companies aren’t ready and when it happens they can’t take advantage of that momentum. They collapse,” said Jones—that hasn’t happened at Zynga because they tracked usage data closely and had plans in place.

As I said, a bit confusing but there are a couple of insights that are worth searching for.

Best Global Strategy Means Local Partners and Low Prices

Posted by:  The Global Small Business Blog

A Profit Lesson for Global Small Businesses

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Wal-Mart appears to be experiencing international growing pains.  Their strategy for driving global growth is working from a sales stand point but not necessarily from a profit or ease of doing business aspect.

... there’s a big problem with that growth strategy: operating margins are significantly worse internationally then they are in the U.S. In this quarter, U.S. operating margins came in at 7.42%, versus 3.93% for international operating margins. And after taking out currency effects, international operating income fell 3.3% year over year.

The lesson for global small businesses:  Monitor your operating margins country to country.   You may not be the size of Wal-Mart yet this is a common problem for any sized business operating internationally.  Keep your profits strong and healthy worldwide.
 
Read more here.

Entering New Foreign Markets Can be Hopefully Bureaucratic

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Agree or disagree?  That is the question.  And Michigan businesses in U.S.A. address the answer.

The article highlights six common myths (misperceptions) about what it takes to pick up overseas business, and advice on addressing the underlying issues.

Border crossing:  Michigan companies going global find benefits can top barriers

Inaugurating New Mayor of Global City Chicago

©Laurel Delaney.  All rights reserved.

©Laurel Delaney.  All rights reserved.

Before Rahm Emanuel (pictured above) officially becomes Mayor of global city Chicago -- any minute now -- ... a picture taken of him October 23, 2010 at the Apple store opening Lincoln Park, Chicago.

The Global Aspect of Business

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The Pennsylvania School for Global Entrepreneurship (PSGE) at Lehigh University (Bethlehem, Pennsylvania) brings American high school students (ages 15-18) together with International high school students from all regions of the world for a five-week residential global learning experience.

The purpose of the PSGE program is to expose students to the topics of entrepreneurship, globalization, team building, project management, leadership and working within a culturally diverse environment and to ignite the students’ spirit of creativity, innovation and learning.  

This makes me so happy to see!  The notion of getting people interested in entrepreneurship and globalization at a young age is fantastic.

How to qualify?

The program is open to all current high school sophomores and juniors (ages 15-18).  Application to PSGE is a competitive process. The selection committee evaluates each application individually, and looks for evidence of academic ability, leadership, entrepreneurship, and community service.  Students of any nationality are welcome to apply.  To date, the program has had participation from international students representing Afghanistan, Antigua Barbuda, Argentina, Australia, Belarus, Brazil, Bulgaria, Canada, China, Columbia, Czech Republic, Denmark, England, Germany, Ghana, Greece, Guatemala, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Jordan, Kazakhstan, Korea, Kuwait, Malaysia, Mexico, Moldova, Netherlands, Palestine, Panama, Peru, Poland, Portugal, Romania, Russia, Serbia, Slovakia, Slovenia, Spain, Switzerland, Turkey, Ukraine, Vietnam, and Zimbabwe.

Get involved!  Learn more here.

Download applications:

•  International

•  United States

Spring Has Sprung: Free Screensaver For Everyone on the Planet!

©Laurel Delaney.  All rights reserved.

"Every spring is the only spring - a perpetual astonishment." ~ Ellis Peters

Posted by:  The Global Small Business Blog

Transitioning Your Illinois Business From Local to Global

©Laurel Delaney.  All rights reserved.

If you operate an Illinois-based company, the link below is right up your alley!  It covers where to turn for help in taking your business from local to global.

Read:

Starter Kit for Illinois Businesses Looking to Export
by Laurel Delaney, for Crain's Chicago Business

Posted by:  The Global Small Business Blog

Note:  We are experiencing some technical problems with our blog platform.  If you encounter a delay in posts, that's the reason.

How to Attract International Visitors to Your Local Business

©Laurel Delaney.  All rights reserved.

Once upon a time there was a woman business owner who claimed her little cupcake shop in Chicago was drying up.

She bakes cupcakes from scratch in every imaginable flavor and size from her small bakery ...

Find out how she can increase sales and profitability so her business doesn’t shrivel up and even take her business to a whole new level (global).

Read my latest contribution:  From Cupcakes to Moneycakes:  3 Ways To Increase Sales and Profitability published at the American Express OPEN Forum via Small Business Trends

Posted by:  The Global Small Business Blog

Tariff on Pistachios in India

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How to reduce the tariff on pistachios in India?

High tariffs can stagnate an otherwise ripe market. There is no better example than the tariff on pistachios in India, which, until this year, carried one of the highest pistachio tariffs in the world at just over 30 percent.

What happened?

Ultimately the combination of commercial and governmental advocacy, diplomatic efforts, and an India-focused approach paid off, and nearly two months ago Indian leadership reduced the tariff on pistachios from 30 percent to 10 percent. This news resulted in tremendous excitement ...

Read more here.

Posted by:  The Global Small Business Blog

How to Take Your Business to the Next Level By Going Global

Global Entrepreneurship: Born Out of Necessity?

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What really drives economic growth?  Many think its entrepreneurship and that entrepreneurship the world over is oftentimes driven by necessity.

But according to the Global Entrepreneurship Monitor:

... economic growth is not driven by these “necessity” entrepreneurs, who decrease in number as the economy develops. The key to fostering growth is to support “opportunity” entrepreneurs, who choose to start new enterprises in response to market needs.

Read this intriguing article, "Does Entrepreneurship Drive Economic Growth? - Megacities - Opportunities at Urban Edges" published by Forbes.

Related piece:  "Do Entrepreneurs in the Developing World Fuel Economic Growth?"

How to Inject Fresh Energy Into the Royal Family: Practice Entrepreneurship

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Enlightening commentary by John Berlau for The Wall Street Journal titled, "The Entrepreneurs' Princess."  The reason I find it enlightening is that speaks about how Kate Middleton's family embody a noble tradition of their own:

... a tradition of bettering oneself and one's family while improving the lot of society.

In other words, entrepreneurship.

Learn more about the story of the Middletons rise to wealth and its implications for British culture, public policy and the world at large.  It's a wonderful read.

And while you are at it, visit Carole Middleton's family business:  PartyPieces.co.uk

Meet Zaha Hadid Architects

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Built globally and built to work.  From the UK to Austria to Japan -- these folks get around and produce magnificent structures the world over.

Zaha Hadid Architects

Global Presence: 2013 Chevrolet Malibu Launch from South Korea

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Designed with global sales in mind, the 2013 Chevrolet Malibu will make South Korea one of it's assembly homes and distribution points, further increasing the brand's global presence.

What do Fairfax, Kansas and Hamtramck, Michigan, and Jingjao, China have in common with Bupyeong, South Korea? All four sites will be responsible for building the 2013 Chevrolet Malibu, although the Korean facility will be the first to assemble the all-new sedan.

Read all about it here.

Note:  Bupyeong-gu is one of the ten administrative divisions (eight wards and two counties) that comprise Incheon, South Korea.  Bupyeong-gu comprises an area of 12.35 square miles (31.98 square km), and has a population of 553,961

Women's Hands Perform 66% of the World's Work

Canadian SMEs Say: "Do Away With Trade Barriers to Ensure Global Competitiveness"

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Looks like we have our work cut out for us here.  Based on a survey by Angus Reid for UPS Canada:

While the quarterly survey, conducted by Angus Reid for UPS Canada, shows "high level of optimism" about Canada's international competitiveness, 27 per cent of respondents have never considered exporting, believing that there's no market outside the country for their products, while 20 per cent don't believe they can compete with countries such as China, India and Brazil.

Learn more here.  Press release here.

The New Economic Era: China's Entrepreneurs

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Find out how the Chinese are making entrepreneurship a way of life.

According to China Macro Finance, a research firm in New York, the number of registered private businesses grew by more than 30% a year between 2000 and 2009 (see chart above). The gross figure (ie, before netting off firms that closed) was at least seven percentage points higher, estimates Ronald Schramm, China Macro Finance’s managing director.

 Read the entire article here.

Quote of the Week

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"Introducing billions of people into the trading economy is one of the biggest things that ever happened in the history of the world." ~ FedEx Chairman and Chief Executive Frederick W. Smith

Global Microcredit Has Great Potential

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David Leonhardt (congrats David!) from the NYTimes.com has a conversation with Dean Karlan and Jacob Appel, co-authors of a new book, "More Than Good Intentions."

First question:

You write that microcredit — small loans to poor people — “has generated more enthusiasm and support than perhaps any other development tool in history.” You agree that microcredit has great potential, but you also suggest that it’s been oversold. What’s known at this point about how it does, and does not, improve people’s lives?

Read more here.

The Export-Import Bank of the United States Continues to Offer Export Financing

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Are you new to Ex-Im Bank?  If so, go here.  New to exporting?  Explore here.

Ready to take the plunge and find out everything there is to know about all the offerings from the Export-Import Bank of the United States?  Click here.

Now, don't say we didn't tell you about this little "financing exports" goldmine. 

World Dining: Find Your City Plates

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not Neutral offers a line of "City Plates" which illustrate streets, highways and parks, for example, that make a city unique.  Thus far, they offer 20 different cities:

Collection 1: Berlin, Shanghai, Los Angeles and Cairo.
Collection 2: New Orleans, Washington DC., Las Vegas and Dubai
Collection 3: New York, St. Petersburg, Brasilia, Melbourne
Collection 4: London, Rome, Mexico City and Tokyo.
Collection 5: Chicago, Montreal, Paris and Mumbai.

The 12" diameter porcelain plates -- priced U.S. $50/plate -- are individually boxed with a key.  Purchase the full collection of 20 cities here.

Posted by:  The Global Small Business Blog

Chart Your Export Strategy: Global Strategic Alliance Is a Choice

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If you've gotten about as far as you can on your own in charting your export strategy, it's a good time to consider joining forces with another company of similar size and market presence that is located in a foreign country where you are already doing business, or would like to.  That's called forming a global strategic alliance.

Here's how it works and what it can and cannot do for you.

Posted by:  Laurel Delaney, The Global Small Business Blog

An Oldie But Goodie Article: Grow As You Go Global

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A going global article titled, "Expanding Internationally:  Grow as You Go," published by Inc. May 1, 1998, makes a good and still relevant case about financing global expansion as global revenue comes in -- not before.

Read it here.

Posted by:  The Global Small Business Blog

Girls: Rule the World

©Laurel Delaney 2011.  All rights reserved.

"I have the same goal I've had ever since I was a girl.  I want to rule the world." -- Madonna

Successful Growth Strategies for Global Entrepreneurs

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According to a report titled Global Entrepreneurship and Successful Growth Strategies of Early-Stage Companies and released by the World Economic Forum in collaboration with Stanford University, SPRIE and STVP:

The top 1% of companies from among 380,000 companies reviewed across 10 countries contribute 44% of total revenue and 40% of total jobs while the top 5% contribute 72% of total revenue and 67% of total jobs.

Download PDF (380-page report) here.

Posted by:  The Global Small Business Blog

Import and Export: Join the Discussion

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These things take time and dedication (I've got both) -- join in on the discussion over at the About.com Import and Export site:

Welcome to the Import and Export Forum! 

Connect with you there.

Got a Customer Overseas Who Wants 25,000 Widgets?

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The perfect scenario for how to source, produce and finance an overseas export. My latest contribution for American Express OPEN Forum through Small Business Trends.

Got a customer overseas who has asked you to export 25,000 umbrellas?  Fantastic—here's how.

Questions? Email me.

Chinese Companies Going Global More Than Ever

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According to Scott Kronick, President of Ogilvy PR in North Asia, Chinese companies are going global.

However, one of the issues that Chinese companies have to contend with when going abroad is how to compete in the global market, and at times, under different business rules then they may be used to here in China.

Listen in ... here.

Uncertainty Is The Norm When Studying Abroad

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Doesn't that hold true for just about everything these days:  uncertainty is the norm?

Take a look at what's happening with study abroad programs.  To experience life, you have to put yourself out there, take chances, minimize serious risks (hazards) and still move forward on great ideas.  Resiliency and adaptability helps here too.

Read the entire article:
Study Abroad in Hot Spots (NYTimes.com)

Expanding Internationally Is Loaded With Potential

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In 2009, Varna Products, a division of Transportation Research Corp., apparently had zero international sales.  Now, sixty (60) percent of the company's business is generated overseas.

Here's how it happened (requires registration to read entire article):

Small businesses go global to bolster sales.

Posted by:  The Global Small Business Blog

Stuck on Where to Offshore? Get Unstuck.

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Take a look at the top ten countries for offshoring -- according to Forbes.com.

Posted by:  The Global Small Business Blog

Is Going Global a Choice?

Can Globalization Deliver On The Vision of Common Good?

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Carolyn Woo takes a stab at answering the question.  But an even bigger question is this:  How can globalization, through business, serve society?  Ms. Woo covers that too.

Read:  The Global Good
Notre Dame Magazine

Posted by:  The Global Small Business Blog

E-Exporting Tools For Small Businesses

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The new "A Basic Guide to Exporting,” the official government resource for small and medium-sized businesses, is offering the following for FREE:

Chapter 11, “Going Online: E-Exporting Tools for Small Business."  This entirely new chapter provides a primer on how the Internet has extended the reach of business.   Read now (download a PDF file).

And if that's not enough, there's always:  Start and Run a Profitable Exporting Business -- where the entire book is free for reading.

Posted by: The Global Small Business Blog

World: It's Not Personal, It's Business

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President Barack Obama has been criticized as being a bit chilly -- need I say more impersonal -- in his dealings with other world leaders.

"My own sense is that he doesn't really have good buds" among world leaders, said Peter Hakim, president emeritus of the Inter-American Dialogue, a think tank. "He can pick up the phone and talk to any leader and get a good response, but it's business."

How could it be any other way?

Read:  "For Obama, It's Business Before Friendship With World Leaders," The Republic

One of the Sweetest Places On Earth: Hershey's Chicago Retail Store

©Laurel Delaney 2011.  All rights reserved.

"All you need is love. But a little chocolate now and then doesn't hurt." ~ Charles M. Schulz

Have a fabulous weekend!

In Our Brave New World, America Will Lead Innovation

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Adam Segal, the Ira A. Lipman Senior Fellow for Counterterrorism and National Security Studies at the Council on Foreign Relations and a longtime observer of technology development in Asia, argues that the threat of America losing its innovation edge has been overblown.

Snippet:

The U.S., with a culture and institutions that encourage individual initiative, risk taking, and collaboration, is uniquely positioned to lead in innovation.

Read the entire article, "The Innovation Advantage" at Strategy and Business

Catch Adam's book here.

Small Businesses Lead the Way On Illinois Exports

©Laurel Delaney, John Hancock Building and the Old Chicago Water Tower, Chicago, Illinois (4/2/11)

A recent blog post I wrote for Crain's Chicago Business:

Small Firms Can No Longer Ignore Globalization

Find out how the little shakers and movers -- entrepreneurs and small businesses -- lead the way on Illinois exports.

Snippet:

A total of 16,902 companies exported goods from Illinois locations in 2008. Of those, 15,170 (90%) were small and medium-sized enterprises, with fewer than 500 employees.

Small and medium-sized firms generated over one-fifth (22%) of Illinois' total exports of merchandise in 2008.

Read the entire post here.

Posted by:  The Global Small Business Blog

America's Favorite Pies: Are They Exportable?

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I visited a couple of these places online (refer below) to see whether they ship anywhere in the world.  Many ship within the United States.

Think there's an export opportunity here?

If the companies can freeze product and ship safely locally, which many are, there's a good chance they can take their product across borders (a little more expensive on the shipping but to customer overseas, I suspect they'd be willing to pay to try an unforgettable American pie).

Visit:
America's Most Unforgettable Pies

Is Manufacturing the Primary Driver of Innovation?

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Is it too late for the United States to regain its competitive footing regarding innovation and creating high-tech products?

Professors Gary Pisano and Willy Shih have something to say about this hot topic.

Read: "Why Manufacturing Matters," HBS Working Knowledge

One of the key concepts in their Q&A is:

Exporting manufacturing has a negative impact on the country's industrial commons, which represents the collective capability to sustain innovation.

Be sure to read the reader's comments -- very thought-provoking.

Posted by:  The Global Small Business Blog

Dolce & Gabbana Sees New Era of Glamour For Youth in China

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With your business, how will you capitalize on it?

Like other designers, such as American Diane Von Furstenberg and Italian Miuccia Prada, Messrs. Dolce and Gabbana have made multiple expeditions to China to understand what is driving China's shoppers. What they've found in their tours across Beijing, Shanghai, and Hong Kong, is that Chinese consumers are far flashier than their American counterparts, said Mr. Dolce.

"Chinese are eccentric, and they will wear the flowers and the lace," said Mr. Dolce, explaining that the industry as a whole has largely catered to consumers who wanted plain and frill-less fashion. "Chinese aren't afraid to be more," he said.

Read the entire article published in The Wall Street Journal:
Dolce and Gabbana to Expand in China
by Laurie Burkitt

World: Be Happy in the Moment

©Laurel Delaney, Pratt and the lake, Rogers Park, Illinois, U.S.A.

"Be happy in the moment - that's enough.  Each moment is all we need - not more." ~ Mother Teresa

The World in 2050

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The World Entrepreneurship Forum has published a 'White Paper' focusing on “The World in 2050” which was the theme of the 2010 edition of the Forum.

Identifying four major challenges our world will face, the White Paper focuses on key recommendations, using case studies to illustrate its proposals, and featuring its commitments for a deep, broad and quick change.

Click here to download the White Paper.

Full disclosure:  I am a member of the World Entrepreneurship Forum and serve on their Advisory Board.