In Inc.com
Fourteen things every entrepreneur should know about the capitalist explosion heading our way. But don't assume that conceding China's rise means conceding to China.
Friday, February 25, 2005
Saturday, February 19, 2005
Taiwanese students study global entrepreneurship in Motown
In Detroit Free Press
Students from Taiwan are visiting Detroit this month as the first cohort in a unique master's of business administration program offered jointly by University of Detroit Mercy and Fu-Jen Catholic University in Taipei, Taiwan. Why is this happening? Here's a snapshot of what the
article reveals:
--> One big attraction of the joint MBA program is its focus on global entrepreneurship. China's emergence as a global economic superpower, contrary to popular belief, is not simply the result of orchestrated plotting by the central government in Beijing. Rather, it's been the unleashing of a remarkable entrepreneurial zeal -- in Taiwan and Hong Kong, as well as in the mainland People's Republic of China.
Students from Taiwan are visiting Detroit this month as the first cohort in a unique master's of business administration program offered jointly by University of Detroit Mercy and Fu-Jen Catholic University in Taipei, Taiwan. Why is this happening? Here's a snapshot of what the
article reveals:
--> One big attraction of the joint MBA program is its focus on global entrepreneurship. China's emergence as a global economic superpower, contrary to popular belief, is not simply the result of orchestrated plotting by the central government in Beijing. Rather, it's been the unleashing of a remarkable entrepreneurial zeal -- in Taiwan and Hong Kong, as well as in the mainland People's Republic of China.
Wednesday, February 16, 2005
What small businesses do wrong when entering an overseas market
In LeaderValues
Author Gretchen Glasscock indicates the following in her article "Going Global: Study Your Markets, Develop a Strategic Plan:"
So going global in your ecommerce efforts makes good sense, but with the understanding that serious thought and preparation are required. Deirdre Mendez, PhD., President of Foreign Business Management Consultants in Austin, Texas says: "Small companies enter international markets without a clear strategy, and without adequate preparation. They don't research foreign markets, perform due diligence on foreign partners, protect their intellectual property or understand the customer culture of their overseas operations. They create partnerships that don't work and must be renegotiated or terminated. All of these mistakes take time to rectify and cost money. Some of them cannot be undone. But all of them can be avoided by strategic planning."
Mendez identifies the key issues you need to look at, some of which are the following:
• Point of Entry - the most strategic market for your launch.
• Distribution - if you're marketing a physical rather than a digital product.
• Partnerships - this can be the make or break decision in any business.
• Product Localization - usually a minimum of some form of translation is required, even if it's just translating the packaging.
• Customer Support - Expectations vary by country and long distance supervision is challenging so this is a particularly thorny issue
• Cultural Issues - riddled with landmines. Assume nothing. Get a trusted local to guide you through this and don't expect your local partner to carry this whole burden.
I don't necessarily agree with Dr. Mendez's comments because entrepreneurs and small businesses tend to make things happen in a BIG way. Granted we might not do everything perfect the first time but we do know how to get things done and if done wrong, we also know how to correct a situation mighty quick. For small businesses, I believe the simplest approach to going global is to find a reputable customer, determine how to get your product to him or her and secure payment! Sound familiar? It should because that's exactly how you start a local business.
If you want additional information on how to quickly get up and running on the international front, read the press release we issued 2/15/05 on "Global Guru" manifesto which tells you everything you need to know about going global. Need help? I'm always around to bounce ideas by. What are you waiting for? The world is at your door step.
Author Gretchen Glasscock indicates the following in her article "Going Global: Study Your Markets, Develop a Strategic Plan:"
So going global in your ecommerce efforts makes good sense, but with the understanding that serious thought and preparation are required. Deirdre Mendez, PhD., President of Foreign Business Management Consultants in Austin, Texas says: "Small companies enter international markets without a clear strategy, and without adequate preparation. They don't research foreign markets, perform due diligence on foreign partners, protect their intellectual property or understand the customer culture of their overseas operations. They create partnerships that don't work and must be renegotiated or terminated. All of these mistakes take time to rectify and cost money. Some of them cannot be undone. But all of them can be avoided by strategic planning."
Mendez identifies the key issues you need to look at, some of which are the following:
• Point of Entry - the most strategic market for your launch.
• Distribution - if you're marketing a physical rather than a digital product.
• Partnerships - this can be the make or break decision in any business.
• Product Localization - usually a minimum of some form of translation is required, even if it's just translating the packaging.
• Customer Support - Expectations vary by country and long distance supervision is challenging so this is a particularly thorny issue
• Cultural Issues - riddled with landmines. Assume nothing. Get a trusted local to guide you through this and don't expect your local partner to carry this whole burden.
I don't necessarily agree with Dr. Mendez's comments because entrepreneurs and small businesses tend to make things happen in a BIG way. Granted we might not do everything perfect the first time but we do know how to get things done and if done wrong, we also know how to correct a situation mighty quick. For small businesses, I believe the simplest approach to going global is to find a reputable customer, determine how to get your product to him or her and secure payment! Sound familiar? It should because that's exactly how you start a local business.
If you want additional information on how to quickly get up and running on the international front, read the press release we issued 2/15/05 on "Global Guru" manifesto which tells you everything you need to know about going global. Need help? I'm always around to bounce ideas by. What are you waiting for? The world is at your door step.
Tuesday, February 15, 2005
Local small Australian businesses are exporting their heads off
In The Australian News
It doesn't matter where you are based, going global can be done anywhere and it usually begins with baby steps and then gradually increases to export intensity where export revenue as a share of total revenue becomes significant.
In this article, Australians tell us a thing or two about exporting and in particular, how women (who run one-third of Australia's small businesses) have become creators of great global brands.
It doesn't matter where you are based, going global can be done anywhere and it usually begins with baby steps and then gradually increases to export intensity where export revenue as a share of total revenue becomes significant.
In this article, Australians tell us a thing or two about exporting and in particular, how women (who run one-third of Australia's small businesses) have become creators of great global brands.
Monday, February 07, 2005
Go For It: Let The Year of the Rooster Wake You Up!
In Small Business Advocate
Last year was the Chinese Year of the Monkey -- a year filled with movement, discussion, and the exchange of ideas. But we are about to turn out the lights on the Monkey. Wake up on February 9, 2005 to the Year of the Rooster! The Eastern zodiac is the oldest known horoscope system in the world, and can reveal amazing insights into your character, lifestyle, and emotional makeup. But even if you don't believe that your destiny is written in the stars, be open to the possibilities that the New Year of the Rooster brings. Wake up to the business potential around you (hint: globalization). Let the Year of the Rooster be the year you go for it!
Last year was the Chinese Year of the Monkey -- a year filled with movement, discussion, and the exchange of ideas. But we are about to turn out the lights on the Monkey. Wake up on February 9, 2005 to the Year of the Rooster! The Eastern zodiac is the oldest known horoscope system in the world, and can reveal amazing insights into your character, lifestyle, and emotional makeup. But even if you don't believe that your destiny is written in the stars, be open to the possibilities that the New Year of the Rooster brings. Wake up to the business potential around you (hint: globalization). Let the Year of the Rooster be the year you go for it!
Friday, February 04, 2005
Abridged Borderbuster 2/4/05
If you are not a subscriber to Borderbuster, here's a glimpse of what you missed this month:
CONTENTS
1. Welcome From The Publisher
2. Feedback From Our Readers
3. The Link Between Price and Profit Margin in a Global Market*
4. Business Cultural Tips: Have Some Fun!*
5. The Magazine Of The International Trade Centre*
6. How I Went Global: Ongoing Series // Go For It!
7. A Reader Asks: Q&A*
8. Everybody Loves a Freebie -- repeat: FREE OFFER*
9. Women In The Global Economy*
10. Future Trends In Offshoring*
11. Seven Steps To Protecting Reputation Abroad*
12. Why There’s No Escaping the Blog*
13. Watch for Laurel’s New e-Book: “Godzilla Global Marketing”*
14. Take A Walk On The Wild Side (TAWOTWS)*
15. Wind Behind Your Sail*
16. Miscellany*
*Indicates exclusive to Borderbuster subscribers only.
Sample section:
3. THE LINK BETWEEN PRICE AND PROFIT MARGIN IN A GLOBAL MARKET
*Subscriber Exclusive*
The vacillation in the exchange rate of the dollar against foreign currencies creates a climate of uncertainty for managers buying and selling in the global marketplace. In spite of these fluctuations, there are ways to hedge business exposure to changes in the value of the dollar.
Two scholars teamed up to write this magnificent article. If you had hired them to present their findings, it would have cost you thousands of dollars. Here, you have free access. You won’t want to miss it.
To read the entire article, visit Graziadio Business Report, Pepperdine University, Graziadio School of Business and Management.
To subscribe to Borderbuster, visit:
Sign Up For Borderbuster Here!
CONTENTS
1. Welcome From The Publisher
2. Feedback From Our Readers
3. The Link Between Price and Profit Margin in a Global Market*
4. Business Cultural Tips: Have Some Fun!*
5. The Magazine Of The International Trade Centre*
6. How I Went Global: Ongoing Series // Go For It!
7. A Reader Asks: Q&A*
8. Everybody Loves a Freebie -- repeat: FREE OFFER*
9. Women In The Global Economy*
10. Future Trends In Offshoring*
11. Seven Steps To Protecting Reputation Abroad*
12. Why There’s No Escaping the Blog*
13. Watch for Laurel’s New e-Book: “Godzilla Global Marketing”*
14. Take A Walk On The Wild Side (TAWOTWS)*
15. Wind Behind Your Sail*
16. Miscellany*
*Indicates exclusive to Borderbuster subscribers only.
Sample section:
3. THE LINK BETWEEN PRICE AND PROFIT MARGIN IN A GLOBAL MARKET
*Subscriber Exclusive*
The vacillation in the exchange rate of the dollar against foreign currencies creates a climate of uncertainty for managers buying and selling in the global marketplace. In spite of these fluctuations, there are ways to hedge business exposure to changes in the value of the dollar.
Two scholars teamed up to write this magnificent article. If you had hired them to present their findings, it would have cost you thousands of dollars. Here, you have free access. You won’t want to miss it.
To read the entire article, visit Graziadio Business Report, Pepperdine University, Graziadio School of Business and Management.
To subscribe to Borderbuster, visit:
Sign Up For Borderbuster Here!
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