The Cloud: Changing How Global Small Businesses Operate

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Technology allows us the opportunity to connect with anyone, anywhere in the world -- unlocking an enormous opportunity for business owners worldwide to grow like never before.

We have a new level of power that's just waiting to be leveraged.  It's the power of the cloud, and once fully utilized, will change how global small businesses operate.

Entrepreneurs and small businesses will be able to monitor the locations and activity of every physical asset, from the parcels shipped by a boutique craft seller to the widgets installed by tradies. But it’s not simply going to be about location and whether the device is working or not.

Read more:  Here's how the next wave of tech advances will transform small business in Australia

Have Faith in U.S. Leadership: Let's Cross the Finish Line on TPP

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Let's face it.  The Trans-Pacific Partnership (TPP) will boost exports, help us shape the rules of the global economy, and create jobs.  Then why are we stalling on passing TPP and why are both Donald Trump and Hillary Clinton against it?

According to Commerce Secretary Penny Pritzker, leaders from several TPP trading partners have made it clear that a U.S. failure to ratify the deal before President Obama leaves office “will require them to hedge their bets and consider closer relations with others in the region” like China.

Commerce Secretary Penny Pritzker said small- to medium-sized businesses are the “biggest beneficiaries” of the Trans-Pacific Partnership (TPP) trade agreement and that failing to ratify the deal would broadly hurt the U.S.'s reputation in the rapidly growing Pacific region.

Fact:  98% of U.S. exporters are small businesses and they account for more than 1/3 of U.S. exports.

Read more:  Pacific deal will boost exports for small businesses | TheHill

Think Harder About Why You Procrastinate

Who's Bullish on International Trade?

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According to a survey commissioned by FedEx Corp. and conducted by research firm Morning Consult LLC:

About 65 percent of small businesses that engage in international trade report increases in revenue, compared with 46 percent of small businesses that do not trade, according to the survey. Small businesses that trade are also 20 percent more likely to say they are hiring more employees.

So why aren't more small businesses engaged in international trade?

Read more:  New FedEx survey finds small, mid-sized firms bullish on trade

Today in Global Small Business: Why You Can't Do Global Deals All Alone

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

• Why you can't do global deals all alone.
• Two import tips that go under the radar for most business owners yet can impact a transaction in a big way.
• Five key factors you should keep top of mind when you expand your business globally.
• Learn what UK small businesses are fearful of when it comes to exporting (see whether you have the same anxiety).
• Hangzhou, home to China's largest e-commerce companies, where many benefit from the Internet.
• Coming up:  The world's biggest and best Global Small Business Forum held in Chicago 10/21/16.

Reckless Records in Chicago: New and Used Vinyls, Cassettes, CD's and DVD's

Since 1989, the coolest of cool stores in Chicago.  Worth a visit:  https://www.reckless.com

Photo credit:  ©Laurel J. Delaney.  All rights reserved.  Taken Friday, September 23, 2016 at 26 E. Madison Street, Chicago, IL.

Free to Choose Global Trade

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The two main candidates for USA president both have it wrong.  Trade is good for us.  I'm pro-trade.  Even Nobel-prize winning economist Milton Friedman said:

"The social and moral issues are all on the side of free trade. And it is you, and people like you [a union official that challenged him on his bid to eliminate all tariffs over five years], who introduce protection who are the ones who are violating fundamental moral and social issues."

It's worthy of a look at Milton Friedman's Morals.  And see what else a bad trade deal can do to our global economy.

Where Is There a Treasure Trove of Overseas Opportunities for U.S. Middle Market Businesses?

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Oh come now.  You may think that Asian and European markets are the best and most prosperous markets to enter when expanding your business internationally.  Not according to a recent report, "Winning in the Americas."

The report, co-authored by the National Center for the Middle Market (NCMM) and TradeUp Capital Fund, a premier fundraising platform for globalizing companies, concludes that the best opportunities for U.S. middle market companies (those with annual revenues between $10 million and $1 billion) lies in Latin America.

Surprised?  So am I.  To feed your curiosity and to learn the facts, visit:  NCMM Report Finds that the US Middle Market is "Winning in the Americas"

While you are at it, take action on two other things that will help you expand your business internationally:

1. Sign up for TradeUp Capital Fund's newsletter
2. Determine the strength of an export market you wish to enter (new tool that is very cool!)

Two Tips to Avoid on the Import Process

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There are many questions you need to address before you begin an import process.  Details such as, which country should you import from; how do you find a reputable supplier; and how do you know what you don’t know when it comes to compliance issues?

Here are two tips that oftentimes go under the radar:  Stay Clear of These Two Import Landmines

Note:  This is a new article I wrote for the About.com Import-Export Business site, which is now under The Balance brand.

Why Understanding Culture Matters When We Are Working Internationally

Today in Global Small Business: The New World of Work

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

• Small businesses confident in global economy despite upfront concerns.
• The shifting of the tides to global e-commerce.
• Why globalization is a necessity for small businesses.
• The rise of the super-stars dominating the global economy.
• Your complete guide to moving abroad to work for yourself.
• How big is the gig economy (the new world of work)?

Find Someone to Help You Paddle

©2016 Laurel J. Delaney.  All rights reserved.

"If you want to change the world, find someone to help you paddle." -- William H. McRaven

Getting Trust Back From New Zealand Small Business Owners

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Ouch.  A glitch with global online payment company PayPal has hit a number of New Zealand small businesses in their wallets.

Here's what one small business owner says:

"A lot of people don't trust PayPal anymore. For me its not about screw-ups, technical screw-ups happen all the time, you can't get angry - it's just the society we live in. But it's the way the company has reacted and I don't think I've ever seen such a poor reaction from a massive company to its clients. We just don't feel like they care."

Read more:  Small businesses struggling after PayPal glitch

Why Brexit Isn't the Biggest Concern for UK Small Business Owners

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In the UK, who are you going to call when business gets tough (and don't think Ghostbusters!)?  We're not talking about about anxiety caused by losing one big customer; rather, SMEs are more concerned with cash flow problems and tough competition from emerging markets.

According to C2FO Working Capital Outlook Survey 2016:

The majority of SMEs (55 per cent) find cash flow as the biggest obstacle for business growth and more than 40 per cent indicate an increase in working capital needs compared to last year. 

The survey examines the preferences of more than 1,800 SMEs in the UK, US, Germany, France and Italy for improving working capital efficiency, examining trends associated with economic and political factors, financing, working capital deployment and supplier-buyer relationships.

Read more:  Tough competition, alternative financing, higher interest rates

Earphones Are Evolving Globally

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Once thought of simply as an electrical device for listening to music without other people hearing, earphones are now becoming more sophisticated and multifunctional.

In fact, world-famous audio brand Bang & Olufsen and German audio equipment manufacturer Sennheiser have introduced top-of-the-line earphones priced up to 400 dollars.

Now enters a small but competitive business, IR International, making a difference for the Korean economy by becoming the maker of the world’s first dynamic 2-way earphones.

Read more:  Power of Small Businesses

8 Lessons for Successfully Launching a New Product or Service Globally

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Alison Larson is an international business development consultant, founder of WorldBlazer Consulting LLC, and coach who works with fashion companies to launch, develop and/or dramatically improve their brand's presence and overall business in international markets around the world.

Prior to establishing her consulting business, Alison worked for 23 years in various executive positions at Carter's and OshKosh B'Gosh where she was responsible for global business development of the companies' various brands in over 40 developed and emerging markets.

She has spent her life traveling and working abroad and has lived in the USA, Italy, the UK and Belgium.  Alison has an MBA in International Business from NYU and Executive Certificates in Global Negotiations, Cross Cultural Communication and Managing Conflict with a Global Mindset from Thunderbird Global Business School.

If that is not enough, Alison is conversant in four languages and enjoys sailing, skiing, painting and creating jewelry in her spare time.

What's so cool about all this?  Alison is donating her valuable time and expertise to present a webinar for Women Entrepreneurs GROW Global on Wednesday, September 14th at 11:00 a.m. Central time. The title of her talk is:

"8 Critical Lessons To Ensure A Successful International Product Launch"

Here's what you will learn:

• The type of research needed to identify your best target market 
• How to select the right international partner the first time around 
• The important role that relationships play in your international expansion efforts 

To learn more and to register, visit:  https://attendee.gotowebinar.com/register/4126297091592158468

Event is no charge but you must register to attend.  See you there!

Today in Global Small Business: Remembering 9/11

©2016 Laurel J. Delaney.  All rights reserved.

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

• A sad reflection of 15 years ago with 9/11 (videos, photos, and audio capture the horror and heroism).
• Learn how to launch a successful product the world over (webinar on 9/14 and it is no charge).
• Attend world's best Global Small Business Forum held in Chicago on October 21, 2016.
• Good news:  58 percent of small businesses already have international customers!
• Do you know what your customers want long before they do themselves?
• Eight keys to e-commerce success (the trick is to make your site stand out from the crowd).

A Self-Portrait in the Sand

©2016 Laurel J. Delaney.  All rights reserved.

As Minor White would say, "All photographs are self-portraits." This is mine.

Facebook Allows Mom-And-Pop Stores to Reach Global Audience

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Facebook's new tool is aimed at providing the tools to help mom-and-pop stores the chance to reach a much wider audience: global.

Businesses can use the new feature by going to Facebook's Lookalike Audiences tool, which recommended new audiences to business owners in their own countries but will now also offer information on international audiences.

This eliminates the need for SMEs to do exhaustive market research, making the step to go global a lot more efficient.

Read more:  Facebook wants to help businesses expand internationally

The World Famous Global Small Business Forum Held in Chicago 10/21/16

The world famous Global Small Business Forum 2016 is OPEN for registration! The 2nd annual event will be held on Friday, October 21st at 70 West Madison Street in the heart of downtown Chicago.  This year’s theme is:  Make the World Your Business!  We have an unbelievable lineup of global business experts and business owners who will be sharing their secrets to international business success.  Here's a preview:

• Richard Paullin, Executive Director, International Trade Association of Greater Chicago; Chairman, IL District Export Council
• Kati Suominen, Founder and CEO, Nextrade Group, LLC
• Marc Schulman, President, Eli’s Cheesecake Company
• Mary Safie, President and Chief Executive Officer, Safie Specialty Foods Company
• Chantal Wittman Meier, V.P., International Trade Banking, MB Financial
• Peter Darley, Owner, VP & COO, W.S. Darley
• Mike Howard, Managing Director for the Central Region of the Business Development Division of the Export-Import Bank
• Frank Gogliotti, Project Engineer, Weldy-Lamont
• Susan Meyer, Counsel for Nixon Peabody LLP
• Philip Pittsford, Chair, National District Export Council
• Dennis Foldenauer, Regional Manager, IL and WI, International Trade Finance Specialist U.S. SBA, International Trade, U.S. Export Assistance Center
• Constantine Grapsas, CEO and Founder of Automated Industrial Machinery, Inc.

A BIG thanks to our Event sponsors:   CEI Importers, MB Financial, TradeUp Fund and Nixon Peabody.  Without their support, this program would not be possible.

For more information and to register, visit:  http://www.globalsmallbusinessforum.com.  Students receive a special discount.  See you there!