Envision your success in 5 to 10 years and make sure whatever you are doing now that it's sustainable. CEO of Ingersoll Rand, Herb Henkel, shares some good tips on driving his firm through global territory.
Localizing production and management is probably the best way to be "sustainable" and be able to customize your business to local demands. By localizing production, you cut shipping and customization costs and with localized production/management you can take advantage of local governments' desire to increase local employment. They should be greatful and possibly offer incentives. You also don't stick your neck out by putting all of your production eggs in one basket/country.
The Global Small Business Blog (GSBB) was founded on July 20, 2004 by Laurel Delaney (pictured above) for the purpose of helping entrepreneurs and small businesses expand their businesses internationally. It is ranked No. 1 in the world for entrepreneurs and small businesses interested in going global. Learn more about Laureland visit her company GlobeTrade.com.
VIEW: 8th Annual Global Small Business Forum 10/20/23
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"Good to Great" best-selling author Jim Collins says, "Laurel Delaney writes in a tremendous spirit of service to entrepreneurial and small business leaders navigating the opportunities of globalization. Whether leading a fresh startup, a small business, or an entrepreneurial growth company seeking greatness, the question of whether―and how―to go global must be addressed. Delaney shows yet again her passionate dedication to serving her readers with deeply practical guidance.”
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Localizing production and management is probably the best way to be "sustainable" and be able to customize your business to local demands. By localizing production, you cut shipping and customization costs and with localized production/management you can take advantage of local governments' desire to increase local employment. They should be greatful and possibly offer incentives. You also don't stick your neck out by putting all of your production eggs in one basket/country.
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