How to Handle Crappy Product Samples From Overseas

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Don't shake your head at the thought.  Most experienced international traders have been down the path of working with a new supplier, setting terms and conditions, providing specs on desired product, establishing pricing, waiting for samples and voila, the samples arrive and they are crappy -- really awful quality!  What do you do?

As a primer, read:

Where to Source Products and What to Do if You Receive Crappy Product Samples from Overseas

Slow and Bumpy Ride On the Road to Global Economic Recovery

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According to BBC News, the global economy recovery will be slow and bumpy.

(April 28, 2013):  Last week, data showed that the US economy, the world's biggest, expanded by 2.5% in the first quarter of the year. That's lower than the 3% growth many analysts had forecast.

Learn more here (includes an automatic video so set your volume to low).

To Go Global, Start Making Baby Formula

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Major retailers in Germany this year began rationing sales of leading brands of baby formula. Parents in Britain, the Netherlands and Hong Kong have faced similar restrictions.  So much for globalization.

Part of the reason for the scarcity?

Parents thousands of miles away in China have been using the Internet or tapping friends and relatives in Europe to buy up stocks of high quality European-produced formula — often paying much higher prices than they would here.  Chinese demand for foreign brands soared after drought in Australia and New Zealand cut supplies from China’s major sources of imported baby formula. 

Read more here.

Meanwhile, start making premium baby formula for export.

Horses Know

Photo courtesy:  ©2013 Laurel Delaney.  "Wood Horse Sculpture in Chicago"

He knows when you're happy
He knows when you're comfortable
He knows when you're confident
And he always knows when you have carrots.
~Author Unknown

Launch Your Global Career Before May 5th

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Hult International Business School offers scholarship opportunities for chosen MBA candidates. Students are selected based on their abilities to perform in a dynamic classroom environment and for their business leadership potential and are considered upon submission of the online application.

The standard essay length is 500-750 words and in each category (as noted below), you must address 3-4 critical questions.  Creativity is encouraged.

1. Academic Excellence Scholarship
2. Global Innovation Scholarship
3. Global Leadership Scholarship
4. Global Project Management Scholarship
5. International Finance Scholarship
6. Social Entrepreneur Scholarship
7. Women in Business Scholarship
8. Your Talent Professinal

As Hult says, "Get plugged in to the world."  More about Hult here. 

Deadline on scholarship opportunities is May 5, 2013.  Go here to apply.  Good luck! 

Related article:  "How to Get An Education Fit For a Life in Global Trade"

Rhythm of Africa: Exotic and Bashfully Sexy Tiffany Amber

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Iconic African fashion brand, Tiffany Amber has embarked upon it’s global expansion plans with three new retail outlets launching in the second quarter of this year.  The collection will be sold at Italy’s leading department store – la Rinascente.

La Rinascente was the first department store to open in Rome in 1887 and now owns a chain of 11 department stores located in several Italian major cities.  La Rinascente carries the world’s most luxurious brands and has a flagship store in the fashion capital of the world – Milan. 

Learn more here.

Who Are the Mobile Consumers in Our World?

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Do you have questions about the mobile consumer in our world?  Our Mobile Planet has answers. Learn about smartphone adoption and usage across 40 countries. Develop your mobile strategy now.

Our Mobile Planet

Small Business Owners Are Driving Smartphone Domination Globally

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A new Cisco Visual Networking Index Global Mobile Data Traffic Forecast Update projects that by the end of this year, there will be more mobile-connected devices than there are people on earth, and by 2017 there will be nearly 1.4 mobile devices per capita.

Who is driving this device domination?  Small business owners.  

According to the survey conducted by eVoice, more than one in three small business owners (36 percent) use three or more mobile devices to run their business. 

Read the entire article here.  Are you ready for a mobile world?

Developing and Pricing a New Product for the Global Marketplace

Photo courtesy:  ©2013 Laurel Delaney.  All rights reserved.

Your first step when developing and pricing a new product for overseas should be to check if there is a similar product already on the market and what it is priced at. If there is a similar product, see how your idea can be differentiated and use the competing product’s price point as a starting point for yours.

Here’s what it takes to bring a product to market and how to price it fairly and competitively for the global marketplace.

How to Develop and Price a New Product for the Global Marketplace

A River Runs Through It: Chicago

Photo courtesy:  ©2013 Laurel Delaney.  All rights reserved.  "Chicago River"

The river that bears the name of a great city, Chicago.

Have a good weekend everyone!

A Leader In Small Business Export Lending: BBCN Bank

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SBA has named Los Angeles-based BBCN Bank the SBA Export Lender of the Year for 2013.  Congratulations to BBCN Bank!  BBCN facilitates international trade financing for small businesses, including nearly $13 million in export working capital financed by BBCN in 2012.  They serve a diverse mix of customers that mirror their respective communities, including the largest Korean population concentration outside Korea.

My favorite stat in the article:

Small businesses now constitute 34 percent of total export dollars, and comprise approximately 97.8 percent of all exporters.  

Read the entire announcement here.

The Global CEO

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Is there such a thing as a global CEO?  That is the question addressed in the following article:

Is There Really Such a Thing as a 'Global CEO'?

The idea of the "global CEO" -- usually understood as chief executives who either come from a country other than where their company is headquartered, or have spent a considerable amount of their careers working "overseas" -- makes sense. Companies require a level of expertise outside their home territories that goes beyond what they have needed in the past.

On behalf of all entrepreneurs and small business owners who conduct business across borders, my answer is:  Yes!  We are global CEOs and do it all:  run a business, take our product or service international and communicate effectively and directly with people from all over the world.

Vision and Direction Equals Global Leadership

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I always knew of Margaret Thatcher as the "Iron Lady" but I never realized that her real legacy is globalization.

1925-2013: Former British prime minister Margaret Thatcher, the grocer’s daughter whose overpowering personality, bruising political style and free-market views transformed Britain and transfixed America through the 1980s, died April 8 after a stroke, her spokesman said in a statement. She was 87.

Read the entire article about how Margaret Thatcher reshaped the modern British state in ways that reverberate globally even today.

May she RIP.

Thatcher's Real Legacy:  Globalization

World: Join Us With Prayers for Boston Explosion Victims

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Our thoughts and prayers are with all the people, including their families and friends, who have been impacted by the tragic event that took place during the Boston Marathon.

Blasts Rock Boston Marathon

Nurturing New and Young Global Startups

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The Global Entrepreneurship Congress (GEC) is nurturing new and young firms on a global basis -- a much needed support mechanism for the world at large.

This year’s GEC wrapped up a week ago in Rio de Janeiro following an intense week with more than 2,000 people from 130 countries. In the first editions of the annual Congress, participants focused on simply discovering like-minded advocates for new, young firms with growth-potential. Four years later, the GEC has become an established platform for entrepreneurship leaders focused on further refinement of data, ideas and methodologies around the needs of growth entrepreneurs.

Read more about the power of GEC and entrepreneurs here.  Related post:  Launching Your Startup Globally.

View Of a Ferris Wheel

Photo courtesy:  ©2013 Laurel Delaney.  All rights reserved.  "Navy Pier Chicago Ferris Wheel"

“I see nothing in space as promising as the view from a Ferris wheel.” ~ E.B. White, The Points Of My Compass 

Global Mindset In the Hiring Process

Related article, "Leading With a Global Mindset."

Does Releasing Something Broadly Mean Globally?

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Zynga recently rolled out Battlestone, a new mobile arcade action game, in select markets and they claim it won't be long before it's available more broadly.

Does releasing something broadly mean globally?

In Zynga's case:

We’ll have more coming soon as we ready Battlestone for worldwide release. 

Read the entire blog post here.

Jordan Goes Local

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While competing against foreign rivals, Jordan is constantly challenged and at the same time concerned over status quo.  In this case, if you can't beat your competitors -- wherever they might be located -- create a new campaign for consumers to buy more locally produced commodities.  And that is exactly what Jordan is doing.

While the government is either unable or unwilling to provide sufficient support and protection to local industries, a citizen solution is now being pushed as an alternative. The Go Local, Support Local campaign, spearheaded by entrepreneur and BeAmman.com co-founder Luma Qaddoumi, aims to influence consumer behavior such that supporting local products becomes a culture.

Read:  The Case for Shopping Local

Are You Involved in Gray Market Activities Internationally?

Photo courtesy ©2013 Laurel Delaney.  All rights reserved.  "Who Nu cookies"  -- one of my favorites!

What is a gray market activity? It's simple: It's an unofficial but legal import/export activity involving genuine products by intermediaries other than the authorized distributor or agent. From the importer's side, it's known as parallel importing.

Read:  What Is Parallel Importing?

Is Globalization or the Internet Causing Obesity?

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According to IESE Insight, obesity is now killing three times the number of people who die from malnutrition, and is the fifth main cause of death in developed economies. 

In the United States, nearly two-thirds of Americans are overweight, and childhood obesity has tripled in a generation. Europeans are getting fatter as well. For the first time in history, there are more overweight than underweight people in the world.  

Companies apparently are churning out too many products high in fat and sugar.  And here I thought it might be the Internet that is causing obesity.  Too many hours spent sitting in front of a computer, smart phone or tablet!  Guess not.

Read:  IESE Insight Globesity:  Is Globalization Causing Obesity? 

From Study Room to Workout Room

Photo courtesy:  ©2013 Laurel Delaney.  All rights reserved.

Loyola University Chicago campus (Michigan Avenue and Pearson Street) is undergoing a change on part of the third floor from a study room to a workout room.  It's the same floor that is the home of WLUW radio station (you can listen live on the Web), owned and operated by Loyola University Chicago, serving Chicago, Illinois and its northern suburbs.

Have a good weekend.  Back with you on Monday!

U.S. Film Critic With Global Following Dies

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Pulitzer Prize-winning movie critic Roger Ebert died Thursday at age 70 from his battle with cancer.

Ebert, born and raised in Champaign-Urbana, wrote for the Chicago Sun-Times for more than 45 years and for more than three decades was the co-host of one of the most powerful programs in television history.

Ebert knew the balcony of life was soon closing for him.  He wrote a final blog post, 'Leave of Presence' just 24-hours before he died.

United States President Barack Obama issued the following statement:

"Movies won't be the same without Roger.  Even amidst his own battles with cancer, Roger was as productive as he was resilient -- continuing to share his passion and perspective with the world."

Ebert was brilliant. He will be missed by many. May he RIP. Our condolences to his family during this very sad time.

Corporate Power-Tool: Trans-Pacific Partnership (TPP)

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Bring it on:  The Trans-Pacific Partnership Agreement, a US-led free trade agreement currently being negotiated with several Pacific Rim countries (including Peru).  And Nile Bowie has something to say about it.  Read his commentary below.

TPP - Wall Street's Wet Dream and Washington's Answer to its Own Dwindling Economic Performance

About Nile Bowie:

Nile Bowie, Boiling Frogs Post contributing author and analyst, is a political analyst and photographer currently residing in Kuala Lumpur, Malaysia. Bowie grew up in New York City and is the son of two art photographers who established themselves by photographing America’s poor and destitute. Bowie left the United States in his teens to pursue photojournalism and has resettled in South East Asia. As a political analyst, he has explored issues of American foreign policy and its influence on militarism in the Islamic world, China’s emerging role as global power, and inter-Korean stability and security, contributing to outlets such as Russia Today, the New Straits Times, the Asia Times, the Tehran Times, and the Center for Research on Globalization. Visit Nile Bowie’s website here.

Related article on the Trans-Pacific Partnership Agreement

•  Next round of TPP negotiations set for Lima, Peru -- May 15-24, 2013

Growth Markets Are Increasingly Located Outside of the United States

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Going Global:
Opportunities for the Atlanta Region

Presentation by Amy Liu

Brookings Institution's Amy Liu, senior fellow and co-director of the Metropolitan Policy Program, leads an introductory meeting for targeted stakeholders to develop and implement an Atlanta Regional Export Plan.

The Global Cities Initiative is a Joint Project of Brookings and JPMorgan Chase.

Go here to view slide show.

One more thing (related) and very good:  A Program to Boost U.S. Exports and Trade Capacity

Thirty Percent (30%) of UFC Events Held Abroad

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Ladies, listen up:  The Ultimate Fighting Championship (UFC) international expansion continues:

Since November 1993, the UFC has held 231 events, 77 of those events were held in Las Vegas, 44 held internationally, and the remaining 110 events across the US. For those fans residing outside of the US, they will be happy to learn that in 2012, approximately 30% of UFC events were held abroad.

Countries the UFC hosted:

England, Japan, Australia, Sweden, Puerto Rico, Canada, Ireland, Germany, United Arab Emirates, and China.

Read the entire article:  Going Global:  UFC expansion continues

The Ins and Outs of Free Trade As It Relates to Surfboards

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Is globalization wiping out the American surfboard industry?

Find out here.

Easter Spells Out Beauty

Photo courtesy:  ©2013 Laurel Delaney.  All rights reserved.  "Rockefeller Memorial Chapel (University of Chicago)"

"Easter spells out beauty, the rare beauty of new life."~ S.D. Gordon

New Powers of the Developing World. It's Called the South.

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A new report, "The 2013 Human Development Report," examines the profound shift in global dynamics driven by the fast-rising new powers of the developing world and its long-term implications for human development.

But the "Rise of the South" analyzed in the Report is a much larger phenomenon: Turkey, Mexico, Thailand, South Africa, Indonesia and many other developing nations are also becoming leading actors on the world stage.

Find out how the report identifies more than 40 countries in the developing world that have done better than had been expected in human development terms in recent decades.

Read:  The 2013 Human Development Report - "The Rise of the South:  Human Progress in a Diverse World"

Easy access - Download parts of the 2013 report (Media)

Amazon: Zero Sales to $21 Billion in 18 Years

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I was conducting a little research on Amazon for a book I am working on about exporting (due out February 2014 by Apress) and discovered Amazon opened on the Web in 1995 as the world's largest bookstore. Today they are "the Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices.”

Amazon went from zero to more than $21 billion in sales in eighteen years. It goes without saying that anybody can win on the Internet.  You just need a brilliant idea and execution skills!

Check out Amazon.com's international sites here.

A Website and the Use of Social Media Is Central to Going Global

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As a runner up in the Internet and ICT Award at the Tyneside and Northumberland North East Business Awards, the the UK-based All-in-One Company in just over four years has customers from more than 150 countries across the globe who purchase their onesies.

“In many ways we are a strange mix. Many people get to know us through social media and the website, of course, is absolutely central to what we do," says Director Kate Dawson.

Read the entire article:  Local firm is rewarded for going global

The Walgreens of Europe: Alliance Boots

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Walgreens has a new partnership with pharmaceutical distributor AmerisourceBergen and European drugstore Alliance Boots.  Alliance Boots is considered the Walgreens of Europe.

Walgreens may have had dreams of going global but through this new partnership it looks as if those dreams will become a reality sooner rather than later.

The real story is the AmerisourceBergen and Alliance Boots partnership. The partnership will help reduce some of Walgreen's operational costs, as AmerisourceBergen will begin distributing a number of generic pharmaceuticals that Walgreen traditionally self-distributed. AmerisourceBergen's superior supply chain will allow for greater efficiencies and daily deliveries.

Read the entire article:  Walgreen Dreams of Going Global

Legitimate Inquiry. Fake Company?

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Many of us receive what looks like legitimate business inquiries from all over the world on a daily basis but how do you determine if they are each on the up-and-up?

This will help.  Read:  How to Determine If a Foreign Company is Legit

Peaceful and Happy: Everyone Profits

Photo courtesy:  ©2013 Laurel Delaney.  All rights reserved.

"If in our daily life we can smile, if we can be peaceful and happy, not only we, but everyone will profit from it.  This is the most basic kind of peace work." ~ Nhat Hanh

Have a peaceful and relaxing weekend!

Want to Take Your Business Global Fast? Add Stars to Your Advisory Board!

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Producer Basis Science Inc. is coming out with a health-information device that doubles as a wristwatch.  They refer to the device as a wrist-based health tracker and recently added health guru Deepak Chopra and innovation evangelist Esther Dyson as advisers.

Users wear the water-resistant Basis 'smartwatch' while it monitors things like activity, heart rate, sleep patterns and perspiration.

The San Francisco company started shipping the 'smartwatch' priced at $199 in December 2012 and is currently sold out with a waiting list that is a mile long.  What I don't know is if that waiting list is local or global.  It can't hurt that Basis Science has Chopra and Dyson on board.  When you add stars as advisers, it's a fast way to get global traction. 

As a small business owner, it would be hard to do this on the cheap.  Perhaps setting aside a small percentage of equity to advisers and employees might work provided it is based on what needs to be done (execution).

Learn more about Basis Science, Inc. here.

Two related questions for today:  Will 2013 by the year of the 'smartwatch?' And will Apple and Samsung play in the space?

Best Way to Stimulate an Economy? Export!

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According to Rob Lawley, head of international trade at UK Trade & Investment (UKTI) West Midlands, exporting makes people think more about their products and company.  In addition, he says, "Businesses that trade internationally have a better survival rate. They can become more profitable and are more likely to grow."

And I just love this line in the article:

EXPORTING could be the shot in the arm businesses need to survive as the economy flatlines.

Read the entire article here.

Growth in Emerging Economies is Part of the Solution to America's Economic Woes

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In the Peterson Institute's newest book, Rising Tide: Is Growth in Emerging Economies Good for the United States?, Lawrence Edwards and Robert Lawrence conclude that rapid growth in emerging economies is part of the solution to America's economic problems rather than their source.

Read the news release here.  Excepts from the book for preview purposes only are available here.

Sample preview here:  Introduction [pdf]

How to Fund Future Global Business Growth For Your Business

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Have a hot international sale yet find yourself scratching your head as to how you are going to finance the deal?  Look no further.

This is my first contribution for Mastercard Business Network.  I hope you find it useful.

Read the entire article:  5 Ways to Fund Future Global Business Growth For Your Small Business

Invest In Your People and a Country Will Grow

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In the 2013 Human Development Report, the United Nations predicts that over the next two decades, economic and political power will shift away from Europe and North America.

The report projects that by 2020 the combined gross domestic products of Brazil, China and India will exceed the entire output of Canada, France, Germany, Italy, Great Britain and the U.S. put together.

Power Shift Under Way As Middle Class Expands in Developing World

Top of the Morning To You!

©Laurel Delaney 2013.  All rights reserved.  "St. Patricks' Day 2013"

I don't know about you but I am preparing for tomorrow (3/17/13), my favorite day of the year:  St. Patrick's Day!  Have a happy one.  Remember, everyone is Irish on St. Patty's Day.  All it takes is a smile and wear'n of the green. Enjoy.

To Become a Winner, Find Clever Ways to Outperform Larger Competitors

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In a new book, The New Emerging Market Multinationals:  Four Strategies for Disrupting Markets and Building Brands, the authors say:

Just how do you win against larger competitors who have more resources than you? A new wave of smaller companies from emerging market countries have discovered that you can not only win, but have the advantage over larger companies. It's just a matter of deploying your resources — however limited they are — very strategically.

Read the entire article: What Small Business Can Learn from Emerging Markets

How to Go Global Without Breaking the Bank

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Entrepreneur-advisor-investor Dave Feinleib, contributor to Forbes, gives his take -- seven rules -- for expanding globally without going broke.

Going global has the potential to increase revenue. It also has the potential to become an immense distraction.  Yet customers from around the world will find your company online. That means you’ll be a global company before you know it.

Read the entire article here.

Smart People Export

This "Smart People Export" video is hysterical.  I don't know how the participants kept such serious, straight faces throughout it.  One participant comments:  "That makes absolutely Zippy sense to me."  Watch it when you have three minutes.  It's worth a chuckle.

The Globalization of Chinese Film and TV

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Michael Curtin examines the prospect of a global Chinese audience that will include more viewers than in the United States and Europe combined.

In his analysis he:

... delineates the globalizing pressures and opportunities that since the 1980s have dramatically transformed the terrain of Chinese film and television, including the end of the cold war, the rise of the World Trade Organization, the escalation of democracy movements, and the emergence of an East Asian youth culture.

Read: Playing to the World's Biggest Audience:  The Globalization of Chinese Film and TV

Does Free Trade Only Create Rich People, Poor Communities?

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The Trans-Pacific Partnership (TPP) Treaty is:

a trade deal expanding on so called "next generation" trade and investment deals that NAFTA countries have pursued in the wake of the stalemate at the World Trade Organization.

Some refer to the TPP as the next generation of handcuffs.  Others, according to "Facing the Threat" below, think free trade creates rich people not rich communities.

What are your thoughts?

Related articles:

The Tyee - Facing the Threat of the Trans-Pacific Treaty

Facing the Threat of the Trans-Pacific Treaty - IPS 

Free or Protected Trade?

Chicago Is Work

©Laurel Delaney 2013.  All rights reserved.  "Vehicle in Chicago"

“I'm impressed with the people from Chicago. Hollywood is hype, New York is talk, Chicago is work." ~ Michael Douglas

Have a heartfelt weekend everyone!  Thanks for your readership.  Back with you on Monday.

Reduce Dependence on Domestic Demand By International Franchising

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Reduce dependence on domestic demand and grow new, future revenue and profit centers worldwide by international franchising.

Extending a brand globally through franchising requires minimal investment and offers a huge upside potential on scaling capabilities.  Further, you don't have to be big to franchise.  You just have to have a successful model.

Below I examine what is international franchising, its benefits, examples of companies that have successfully franchised internationally, how to get started in franchising and where to look for additional help.

Read the entire article: International Franchising: A Global Strategic Initiative

What's the Priciest City in the World?

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How do you define luxury on a global basis?  You can take a look at the top cities in the world for luxury living - Hong Kong, London, New York, Paris and Sydney (as shown), for example - and then see what the Knight Frank report has to say.

The Knight Frank survey ranks global cities based on a number of variables: economic activity, political power, quality of life, education and influence.

Learn more here.

Free Speech In Our World?

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The Wharton India Economic Forum (WIEF) withdrew its invitation to Gujarat Chief Minister Narendra Modi to deliver a live video keynote address. The organizers of the event, however, are determined to arrange another platform less publicized for him to address students at the prestigious American business school.

WIEF is an annual student-organized event hosted by the Wharton School, which is part of the University of Pennsylvania.

The reason for the withdrawal of Modi at the main event?

"We find it astonishing that any academic and student body at the University of Pennsylvania can endorse ideas about economic development that are based on the systematic oppression of minority populations, whether in India or elsewhere," and pledged to protest Modi's appearance.

Whatever happened to free speech in our world?

Read the entire article:  "Dumped, Modi may get another Wharton platform to go global"

Shaking Up the World: Harlem Shake

Once again, another global phenomena - viewed more than 47,354,298 times worldwide on YouTube.  Learn more about the "Harlem Shake" here.

Global Immersion

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Globalization is causing new and complex challenges for business leaders.  One being  - how do you lead in this new era of a borderless world?

A global leader is someone with the ability to seize different kinds of opportunities and understand the global forces creating them, says Nitin Nohria, the dean of Harvard Business School, who highlights efficiency, local responsiveness and innovation as the keys to value creation.

Learn more:  IESE Insight Bridging the Global Leadership Gap

To develop managers to work in an international context, it is important to make sure that the learning process involves an immersion in such environments, says IESE's Pedro Nueno.

Chicago Turned Monochrome

©Laurel Delaney 2013.  All rights reserved.  "Chicago Turned Monochrome"

“Winter came and the city [Chicago] turned monochrome -- black trees against gray sky above white earth. Night now fell in midafternoon, especially when the snowstorms rolled in, boundless prairie storms that set the sky close to the ground, the city lights reflected against the clouds." ~ Barack Obama, Dreams from My Father: A Story of Race and Inheritance

Open For Trade: U.S. and E.U.

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The United States and European Union aim to start negotiating the Transatlantic Free Trade Pact this year. The two top economies hope the pact will revive their respective economies.

The goal of the agreement is to cut tariffs, lower trade barriers and ease commerce–thereby setting higher standards for the world to follow. 

The alliance should help create jobs, spur economic growth and strengthen the transatlantic economic ties.

Read the entire article:  The Transatlantic Free Trade Agreement:  Open Trade Between the United States and the European Union