Celebrating St. Patrick's Day, Chicago Style From the Past

 

Photos courtesy:  @2020 Laurel J. Delaney.  All rights reserved.

How to Save China's Luxury Business

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Luxury brands are pinning their hopes on e-commerce to recoup some of the losses caused by China’s dismal retail environment. But will consumers switch to online in sufficient numbers to make up for the massive coronavirus shortfall?

Read more (requires a quick sign-up to access).

I Am a Believer in the People

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"I am a firm believer in the people. If given the truth, they can be depended upon to meet any national crisis. The great point is to bring them the real facts." – Abraham Lincoln

Collectively, Seattle SMEs Need a Lot More Than $5 Million to Survive During the COVID-19 Outbreak

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Small businesses operating in Amazon's neighborhood will be awarded $5 million as a fund to support their businesses around Amazon's Seattle headquarters.  The SMEs are struggling with a dramatic slowdown since the Amazon instructed its employees – 50,000 – to work from home if they could.

These businesses support tens of thousands of local jobs that are a critical part of the Seattle and Puget Sound economy,” [John] Schoettler [Amazon vice president of global real estate and facilities] said. “They’re our friends and neighbors, and we believe it’s important to try to help them confront the economic challenges that are likely to come from the COVID-19 outbreak.”

Note:  If you are operating a business near Amazon's HQ and apply for the grant, expect Amazon to ask for information including the amount of revenue each applicant expects to lose in March.

Bottom line:  Amazon wants to make the process easy so that businesses facing cash-flow problems can be stabilized quickly, the spokesman said.

Read more here.

Jittery Global Business Owners and Consumers

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Businesses from pet hotels to tour operators to smartphone repair shops and fashion brands, among others, are facing challenges tied to corporate, government and consumer response to the novel coronavirus.

While fears over the growing global coronavirus outbreak sparked widespread economic worries and wild stock market swings last week, small business owners have felt the ripple effects of canceled travel reservations, scrapped conferences, closed factories and jittery consumers.

Learn more about how global small business owners are facing and attempting to overcome hurdles caused by the naval coronavirus (COVID-19).

Today in Global Small Business: Jack Welch's Approach to Leadership

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

• How 17 upstarts are tailoring solutions to tap the $850 billion annual opportunity in addressing the unmet needs of SMBs.
• Coronavirus threatens small businesses.
• Quote of the week: “One isn't necessarily born with courage, but one is born with potential. Without courage, we cannot practice any other virtue with consistency. We can't be kind, true, merciful, generous, or honest." – Maya Angelou
• Seven key actions business can take to mitigate the effects of COVID-19.
• The late Jack Welch's approach to leadership.
• Going global: Exports hit record high in Granite State.

Lucky Enough to Be Irish

©2020 Laurel J. Delaney.  All rights reserved.

"If you are lucky enough to be Irish, you are lucky enough." – Anonymous

With the Coronavirus, Mask Options Just Aren't Available If You Are Sub-Scale

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In China, large corporations such as Apple Inc. supplier Foxconn Technology Co. have started their own mask assembly lines just to meet its workers’ needs. That option simply isn’t available if you are sub-scale.

And while bigger companies in China are largely back in operation, two-thirds of smaller ones still couldn’t get their employees to work as of last week, according to Beijing’s own government briefing.

Some say the situation could be even more dire in the U.S.  For example:

In its latest global financial-stability assessment, the International Monetary Fund found that while Chinese SMEs remain highly profitable — and large, state-owned enterprises are economic drags — the situation is just the opposite in the U.S. American SMEs are in the worst financial shape among countries in the survey, which looked at more than 1.3 million companies across major global economies. Over 60% of SME corporate debt is issued by borrowers that don’t make enough profit to cover their annual interest payments. In times of distress, it’s unclear that banks and the private-loan market will allow smaller businesses to refinance.

Read more about the state of China and determine for yourself whether they have a handle on things.

Sarah LaFleur's Clothing Line for Working Women: M.M.LaFleur (Podcast)

As Guy Ray says in his podcast, Sarah LaFleur hated getting dressed in the morning; the choices in her closet felt overwhelming, many items didn't fit right or wore out too quickly.

So in 2011 she launched a line of clothing for working women that would be simple, elegant, and well-tailored. She had no experience in fashion but partnered with a top-line designer, Miyako Nakamura, to create M.M.LaFleur.

Today it's a multi-million dollar company with loyal customers from Capitol Hill to Silicon Valley.

Listen to the 1-hour, 16-minute podcast with Guy Ray and Sarah LaFleur at NPR.

New Mexico Small Business Owners Are Exploring International Trade

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New Mexico has seen steady growth in foreign trade in recent years yet it can still be an intimidating prospect for a small business owner.

While international trade has more than doubled as a portion of the United States’ gross domestic product over the past six decades, [David] Glaccum [associate administrator for the U.S. Small Business Administration’s Office of International Trade] said many small businesses opt not to export goods and services due to a lack of expertise, as well as a level of comfort in domestic markets. 

Glaccum also indicated as few as 1% of American small businesses export goods or services to other countries, even though 95% of consumers live outside the United States.

Read more about how international trade is within reach for New Mexico small business owners.

WorldBlazer Founder Alison Larson Is Taking the Fashion World by Storm

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In the following interview conducted by Laurel Delaney for GoDaddy, Alison Larson, founder of her own global business consulting agency, WorldBlazer Consulting LLC, shares her professional and personal insights — from what triggered her interest in global business to the trick to getting and keeping global clients to the things she can’t live without (spoiler alert: one is beads for making jewelry).

Read more about how Alison Larson is taking the fashion world by storm.

Today in Global Small Business: wegg® Workshop 3/4/20 in Chicago

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

• How do you go from startup to becoming a multimillion dollar business and selling more than 65 countries in less than a decade?  Find out at wegg®'s next engaging educational workshop held in Chicago on Wednesday, March 4 at 8:30AM CT and hosted by Associated Bank.  To learn more and to register, visit:  https://womenentrepreneursgrowglobal.org/2020/02/11/saving-lives-one-clinical-trial-at-a-time/
• The corona virus is seriously impacting people, businesses and the global economy.
• Quote of the week: “The greatest use of a life is to spend it on something that will outlast it.” – William James
• Lead your business through the corona virus.
• The UK's perspective on expanding abroad – pinpointing top 3 countries for expansion.
• Understanding global social entrepreneurship and its importance in our world.

Intermission: Let's All Go to the Lobby'

©2020 Laurel J. Delaney.  All rights reserved.

Let’s All Go to the Lobby’ – an animated musical advertisement – has been playing before features in theaters since 1957, but it does more than entice audiences to buy popcorn.  It promoted newly constructed concession stands in theaters across the country and generated extra revenue for enterprises.

Listen to the jingle from this short film.  Now that will stick in your head for a while.  A little more history:

Chicago-based Filmack Studios released the trailer animated by the producer of Popeye, Dave Fleischer, as part of a series of similar Technicolor shorts to promote the newly installed concession stands in theaters across the country. The film has lasted in movie theaters because it does more than its intended purpose to introduce audiences to theaters’ new way of making revenue—it embodies the moment such an intricate part of watching a film in theaters began.

Learn more.

Global E-Commerce Shipping and Its Challenges

©iStock/Feodora Chlosea

Today’s consumers are comfortable buying from eCommerce vendors located overseas, boosting the number of packages being shipped cross-border.

Simultaneously, retailers have adopted an omni channel shipping strategy that has shifted inventory from centralized distribution centers to brick-and-mortar stores and even directly from manufacturers, regardless of their location.

Result?  An avalanche of inbound packages that has overwhelmed U.S. Customs and Border Protection (CBP) resources, whose systems have historically been geared to processing larger containers.

Read more about the challenges faced by global shippers – requires registration.

Plant the Seed to Global Entrepreneurship: Find Your Early Adopters

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Mariana van der Walt writes about how "Entrepreneurs need to be part of an environment – an entrepreneurship ecosystem – that will provide them with good access to markets, skills, finance, mentorship and talent."

We could not agree more.

In her article below, she provides a summary of the most common elements that need to be present and aligned in a thriving, supportive entrepreneurship ecosystem.

For example, "Growing an entrepreneurship ecosystem in such an environment can be challenging but can be done if planned well and purposefully managed to grow. Doing it in phases is the best way forward," says Mariana.

Here are the three phases:

1. Phase one: Find your early adopters. Arrange a few workshops and maybe even run a competition for business ideas, with winners getting a small prize to set up their idea. 
2. Phase two: Support new microbusinesses with a stick factor.  What's that?  Find out by reading the article!
3. Phase three: Make it more formal. 

Learn more about how to create an environment in your small town for entrepreneurship to grow.

About Mariana van der Walt

Mariana is the founder of The New Zealand Institute for Rural Entrepreneurship (NZIRE).  She helps small towns thrive.   Being a serial entrepreneur and a seasoned intrapreneur, NZIRE is the third business Mariana dreamed (and worked) into existence. She is also a seasoned manager of globally distributed, remote teams, and can help you find your dream remote job.

Relaxing Celtic Music: The Ultimate Calming and Soothing

The Novel Coronavirus Disrupts the Entire Global Supply Chain

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Even if you are buying from factories in India, Vietnam and Myanmar, many of the materials to finish off a product still depend on Chinese producers.

The deadly novel coronavirus that has devastated the Chinese economy is having a ripple effect across the globe. And while it has hit the lucrative auto, tech, energy and tourism industries particularly hard, it is also hurting the small businesses that shape everyday life in just about every corner of the world.

The food we eat, the work we do and the clothes we wear are all daily reminders of the vital role China plays in the global economy.

Read more about how the coronavirus is a daily reminder of China's global reach.

Today in Global Small Business: A Formula for Global Growth

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

• Everybody is hurting over the coronavirus – big and small companies alike.
• If it weren't for manufacturers and strong exports, North Carolina would not nearly be so healthy economically.
• Quote of the week: “You will never FIND time for anything.  If you want time, you must MAKE it.” – Charles Bixton
• Here's a formula for global growth after the start-up stage.
• New research will help make marketing to Millennial Small Business Owners (MSBOs) less of a shot in the dark.  Who wouldn't want to find this out?
• Take a look at a comprehensive analysis report entitled Global Ecommerce Tools for Small Businesses Market Size, Status and Forecast 2019-2025 that gives an overview of the relevant market including analysis, latest market trends, and developments including features, technology and market chain types, applications and top manufacturers.

Let Yourself Go So You Can Rise

©2020 Laurel J. Delaney.  All rights reserved.

"Life is like a balloon.  If you never let yourself go, you'll never know how far you can rise." – Anonymous

The Central Role Black Entrepreneurs Play in our Global Economy

Let's celebrate the achievements of African Americans – especially during Black History Month – and recognize the central role they, as individuals and communities, contributed to U.S. history.

When an entrepreneur starts their own business, they create new jobs in the community. In fact, small businesses generate two of every three net new jobs and deliver essential goods and services to our community.

Here are top resources that help small business owners grow.

The Idea of Real Food Without Preservatives Is That It Can Get Ugly

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Burger King is showcasing a nasty looking Whopper to promote the idea that it is dropping preservatives from its food.  And they call it something!  How creative is that?

The campaign, aptly called “The Moldy Whopper,” shows what happens if a Whopper is left out on a table for more than a month. Spoiler alert: It spoils. It underscores the chain’s decision to eliminate artificial preservatives from its food.

View a time-lapse video that shows the burger getting nastier by the day.

Rethink What It Takes to Lead in Our Digital World

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Organizations must empower leaders to change their ways of working to succeed in a new digital economy.  The 2020 Future of Leadership Global Executive Study and Research Report, "The New Leadership Playbook for the Digital Age: Reimagining What It Takes to Lead,” finds that leaders may be holding on to behaviors that might have worked once but now stymie the talents of their employees.

Executives around the world are out of touch with what it will take to win, and to lead, in the digital economy. Digitalization, upstart competitors, the need for breakneck speed and agility, and an increasingly diverse and demanding workforce require more from leaders than what most can offer.

The authors of the report surveyed 4,394 global leaders from more than 120 countries, conducted 27 executive interviews, and facilitated focus-group exchanges with next-gen emerging leaders worldwide. The findings are as sobering as they are inspiring.

Find out what they discovered.

The Global Trade Barometer and Economic Impact

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Every component of the Goods Trade Barometer, which provides real-time information on the trajectory of world trade relative to recent trends, will be influenced by the economic impact of COVID-19 and the effectiveness of efforts to treat and contain the disease,” says the World Trade Organization (WTO).

The Geneva-based body’s latest forward-looking Goods Trade Barometer stood at 95.5, compared with a level of 96.6 in November. 

The WTO goes on to say that global trade in goods will likely remain weak in coming months as disruptions from the coronavirus outbreak in China stanch the movement of international commerce already slowed by tariffs and uncertainty.

Today in Global Small Business: Unlocking the Potential of Women's Businesses in Africa

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

• Profiting From Parity:  Unlocking the Potential of Women's Businesses in Africa (report)
• 'Black swan' coronavirus casts its shadow over the global economy.
• Quote of the week: “I don’t like when investment bankers talk about EBITDA, which I call bulls--- earnings.” – Charlie Munger, Vice Chairman, Berkshire Hathaway
• Speaking of Munger, he warns there are 'lots of trouble coming' because of 'too much wretched excess'.
• The coronavirus is disrupting the global economy, including e-commerce.
• How PayPal is future-proofing its business.

Love Yourself. Love Others.

©iStock/Ihor Billiavskyl

Health Epidemics are a Global Risk

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At the end of January, Tesla CEO Elon Musk had downplayed the risk of Novel Coronavirus, but two more weeks with it, the health epidemic instilled a new fear that caused a change of mind.

Tesla’s latest annual 10-K filing revealed a new risk to its business: “health epidemics.” In the filing, the electric automaker said its gigafactory in Shanghai was closed for a brief time as the coronavirus spread in China. “It is unknown whether and how global supply chains, particularly for automotive parts, may be affected if such an epidemic persists for an extended period of time,” the company said. “We may incur expenses or delays relating to such events outside of our control, which could have a material adverse impact on our business, operating results and financial condition.”

Read more at CNBC's update and get live Novel Coronavirus updates here and here.

Is the Business Case for Diversity Working?

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Sarah Kaplan's contribution to Fast Company makes an interesting and strong point in her article, "Why the 'business case' for diversity isn't working."

"Hmm," that's a bummer.  She says:

Workplaces and executive boardrooms should reflect the world’s diversity, and lots of companies are using the so-called “business case” for diversity to instigate action. But, popular as it may be, it’s a failed strategy.

Curious where she takes this piece short of giving up on the business case?  Read on to learn more.

Neobanks: What They Are, How They Work, and Why They are Burgeoning in Australia

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Over the past couple of weeks, you’ve probably heard the word neobank thrown around a few times, which may have left you wondering exactly what it is, and how it’s different to a traditional bank. If you haven’t had a chance to find out, here’s the rundown.

Here's an example of how this industry is burgeoning.  Australian-based neobank Xinja's CEO Eric Wilson says:  "We expected to do about $120 million in deposits in a year, we’ve done $100 million in 19 days."

Other neobank players ready to disrupt the global marketplace?  86 400 and Judo Bank.  We're in for a ride.

Chinese Leader Xi Jinping Makes Rare Appearance with Mask On

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President Xi Jinping of China, who had been noticeably absent from public view since the coronavirus outbreak escalated into a crisis, toured several public places in Beijing on Monday [2/10/20) afternoon. The appearances seemed aimed at countering criticism that Mr. Xi has been aloof amid rising public discontent with his government’s struggle to contain the crisis.

The last time Mr. Xi had appeared in public was at a meeting last week with Cambodia’s prime minister. Mr. Xi has yet to visit the epicenter of the outbreak, Wuhan, 600 miles to the south in Hubei Province.

Read more about the coronavirus outbreak, President Xi Jinping's aloofness amid the crisis, and what else you need to know on where things stand on the latest national numbers for the epidemic.

Today in Global Small Business: State Trade Expansion Program

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

• SBA announces funding opportunity through the state trade expansion program.
• In The Global SMB Neobanks Report, Business Insider Intelligence explores the key factors driving an explosion of neobank [neobank is a type of direct bank that is 100% digital] activity in the SMB segment and the strategies these upstarts are leveraging to capture shares of this lucrative banking vertical.
• Quote of the week: “What I've seen over my lifetime is that countries that embrace openness, that embrace trade, that embrace diversity are the countries that do exceptional — and the countries that don't, don't." – Apple CEO Tim Cook
• Tariffs will hurt small businesses on Main Street USA.
• The coronavirus continues to move.  More at JAMA network.
• What the USA President Trump impeachment ordeal can tell us about the 2020 election.

First Snow. First Love.

©2020 Laurel J. Delaney.  All rights reserved.

"The first snow is like the first love."  – Lara Biyuts

Lemonade Day for Kids Interested in Starting a Business

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Want to get your son or daughter interested in entrepreneurship? Now is your chance.  Lemonade will be used as a teaching tool as the Business Centre Nipissing Parry Sound and North Bay and District Chamber of Commerce present Lemonade Day.

“Lemonade Day is an initiative for kids to start, own and operate their own lemonade stand,” Kennedy Horton, the program and events coordinator at the Business Centre said. “There is training that they can participate in and workbooks that they have to complete.”

To pre-qualify, you must be aged nine to 12 and have an interest in starting a business.  Those who register will receive a backpack with the workbook that outlines the steps needed to start a business.

Read more about Lemonade Day to help kids start a business.

Google Pay Goes Global Thanks to Colossal Success in India

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Bullish on Google Pay and its rising adoption in India, Alphabet has taken cues from the successful experience in India and would soon roll out its revamped digital payments product globally.

Two years after debuting in India, Google's digital payment platform Google Pay hit 67 million monthly active users (MAUs) in India in September last year, driving transactions worth over $110 billion on an annualized basis with hundreds of thousands of offline and online merchants.

Don't we wish we could all scale our businesses like this!

"The vast majority of India's over 60 million small businesses are still not benefiting from the growing digital economy," says Ambarish Kenghe, Director, Product Management, Google Pay.

That is about to change.  Read more about how Google Pay goes global.

Insight by Sundar Pichai: Changing Access to Technology Changes People's Lives

weggchat® with founder and CEO Jill Bishop, PhD, Multilingual Connections 2/5/20

©2020 Women Entrepreneurs Grow Global.  All rights reserved.  Used with permission.

Join the wegg® team on Wednesday, February 5th at 11 a.m. Central Time to chat via Twitter with Jill Bishop, PhD, Founder and CEO, Multilingual Connections about "How to Connect with Global Communities."  The program is hosted by the nonprofit Women Entrepreneurs Grow Global®, which educates women entrepreneurs and business owners on how to go global.  To participate (it's free) you must have a Twitter account and use the hashtag #weggchat.

Learn more to participate:
https://womenentrepreneursgrowglobal.org/2020/01/08/how-to-connect-with-global-communities-jill-kushner-bishop-multilingual-connections/

Today in Global Small Business: Brexit is Finally Happening

©2020 Laurel J. Delaney.  All rights reserved.

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

• Yes, some kind of Brexit is finally happening.
• How will companies respond to the risk of climate change?
• Quote of the week: “I watched my parents. My dad worked nights, and I was aware of how much he was doing for us. My mom was a Tupperware lady and also worked at the school. I always felt that I couldn't let them down. And I had a natural discipline from early on. I was always training for something." – Jennifer Lopez
• Is your trade group blocking climate action?
• The coronavirus is now an official emergency.
• The grass is always greener for a Super Bowl. The NFL makes sure of that.

Grammy-Nominated Superstar Bob Marovich

Chicago resident, gospel music historian, author and radio host Bob Marovich was nominated for a GRAMMY award for best album notes, "The Gospel According to Malaco," which includes a book as part of an eight-CD set covering a 75-year period, from the post-war years to the present.

"Marovich’s writings on 100 recordings as part of the CD anthology looks at hit recordings in a collection of stories that include Mahalia Jackson, Sister Rosetta Tharpe and Rev. James Cleveland, The Gospel Keynotes, Solomon Burke, The Caravans and The Mississippi Mass Choir, among others."– Source:  Billboard magazine

Bob attended the Grammys hosted in Los Angeles, California at the Staples Center on Sunday, January 26, 2020 and walked the red carpet alongside such stars as Chick Corea, Tanya Tucker, Gloria Gaynor, and Brandie Carlile.

Above are a few of the photographs from the GRAMMY Awards. Congratulations to Bob Marovich! We are very proud of him!

Photos courtesy:  ©2020 Laurel J. Delaney.  All rights reserved.