A Symbol of Our Freedom

©2016 Laurel J. Delaney.  All rights reserved.

"The American flag is the symbol of our freedom, national pride and history." -- Mike Fitzpatrick

How to Compete in Global Markets

The Beginning of a New Global Trading System

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China has more than a billion people and is tapping into markets such as India and Africa -- capturing markets that account for more like three to four billion users, in places with fast emerging middle classes.

"If you are banker and you are in transaction banking, you are foolish if you think in five years' time the majority of your customers' transactions will be conventional supply chain transactions, or conventional trade transactions. They and a growing host of new businesses, often global SMEs, will be trading through platforms like Alibaba. So the banking side of the business will gravitate towards Alibaba, and there may be one or two other platforms competing alongside them."

For example, if we are leaning toward a platform-based global commerce economy, what about Google, Facebook, eBay and Amazon?  Don't underestimate their capabilities.

Read more:  Alibaba advances:  How China is using fin tech to take control of global trade

Promoting Innovation in the United Arab Emirates

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The United Arab Emirates (UAE) and Dubai have long been considered the gateway to global markets, especially with entrepreneurs who inherit or can tap into some serious money.

The D.C.-based startup incubator and seed fund 1776 signed an agreement to open an outpost at the Dubai Museum of the Future Foundation, a new organization formed to promote innovation in the United Arab Emirates.

The campus will showcase museum exhibits, host events and incubate startups.

Read more:  1776 to open first international campus in Dubai

Encouraging Small Businesses to Go Global and Be More Creative

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Who is Korean-based Naver?

As the nation's largest web portal, Naver attracts more than 26 million visitors who enter over 300 million search queries and stream 18 million videos every day. As a business and content platform, it has 1.6 million local businesses, more than 400 professional webcomic authors, 150 web novel writers, 10,000 illustrators and 3,300 indie musicians.

For content creators, Naver plans to help small businesses work in a sustainable environment and ultimately encourage them to go global as a way to motivate their creativity.

Read more:  Naver vows to support small businesses, content creators

Today in Global Small Business: Lessons in Going Global

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

• China's new import regulations.
• Seven (7) ways to turn your cross-cultural understanding into a global competitive advantage (webinar 5/4; no charge).
• What is the Clover Online Store and how can it benefit you with an online presence?
• Manage your corporate relocation process with global relocation software, tax compliance and expense management services.
• Tip of the week:  a tool to manage your international growth.
• Youths get hands-on lessons in going global.

Prince and the Muppets

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Prince: Great Global Humanitarian and Gifted Musician Dies

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Great global music legend Prince dies at 57 on April 21, 2016.

• Remembering Prince, a prodigy and provocateur
• Remembering Prince - Twitter search
• Remembering Prince - The New Yorker
• Remembering Prince - The Atlantic
• Remembering Prince - Today Pop Culture
• Remembering Prince - The Time he crushed the Super Bowl halftime show [Video]
• Remembering Prince - Purple Rain [Video]

May he rest in peace in his trademark shade of purple.

How to Stay Out of An Early Grave with a Global Business

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What happens when you launch your business globally?  It's never a linear process, rather, you zigzag from one thing to another that requires your attention.  As Fred Schebesta, chief executive of finder.com says:

Going global with a business idea is exactly the same – what worked for one company will put another one snugly into an early grave.

Here's a look at four points that Schebesta makes in the article "Here's what happens in the first six months of taking your business global."

1. First you realize that importance, no matter the industry, isn't universal
2. Then, you need to get your existing fan base fired up
3. You need familiar boots on the ground
4. Then, you iterate in the motherland

If you do most of these things, you are well on your way to success in the global marketplace.

Internationalizing in the High-Technology Market

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Recent research entitled, "Hybrid strategy works best when high-technology companies go global," by Professor of International Business Mika Gabrielsson from the University of Eastern Finland, Senior Researcher Tomi Seppälä from Aalto University, and Professor of Marketing Peter Gabrielsson from the University of Vaasa, debunks the theory that companies can successfully go international by adhering to a single competitive strategy.

Findings:

• Study says hybrid strategy creates conditions for internationalizing companies to achieve best financial performance.
• Study challenges theory that a company should try either differentiation or cost leadership when going international.
• Conditions of the home markets of firms have received too little attention in globalization strategy work.

Sounds like Michael Porter, a Harvard Business School professor and consultant, is also being challenged on his theory that a company should adhere to a single competitive strategy, either differentiation or cost leadership, when going international.

Read more:  Hybrid Strategy Works Best When High-Tech Companies Go Global

International Trade Matters for SMEs

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The rise of UK micro businesses going global shows international trade is accessible for all.  According to research conducted by Martin Davidian, managing director, Sales, UK North and Ireland, FedEx Express, more than three quarters of UK micro-multinationals feel international trade is just as accessible for small businesses.

An additional finding:

Globally, all micro-multinationals believe having a presence in multiple markets makes it easier to sell goods cross-border, with more claiming it is easier to operate internationally now than it was in 2010.

Read:  Rise of micro-businesses going global shows international trade accessible for all

Today in Global Small Business: How to Turn Cross-Cultural Understanding Into a Competitive Advantage

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

• What happens when your product has the public approval of celebrity fans like Victoria Beckham and Emma Watson?  Can you count on becoming a global winner?
• The New York Times pours $50 million in to reaching international readers.
• A Hungarian talent show for young classical artists is close to being replicated internationally.
• Seven (7) ways to turn your cross-cultural understanding into a global competitive advantage (webinar 5/4; no charge).
• Legal news and resources you can put to good use at your global business.
• Tip of the day:  Zoom for video conferencing, web conferencing, online meetings, webinars and screen sharing.

Live Like It's Spring

"Despite the forecast, live like it's spring." -- Lilly Pulitzer

Photos courtesy:  ©2016 Laurel J. Delaney.  All rights reserved.

How Jack and Jill Went Global

©iStock/Michael Pettigrew

Justin and Rachel Bernhaut decided to reinvigorate their Jack N' Jill toothpaste business, owned by Justin's father and familiar to many growing up in Australia the 1950s.

The Bernhauts invested $150,000 in formulating the product, relaunching the brand and then using the original machinery to make the first 50,000 tubes by hand.

From day one the couple created Jack N' Jill as a global brand, setting up websites overseas and now more than half the business' sales are generated overseas, with a turn of more than $8 million a year.

Read more:  How small family business Jack N' Jill went global

Businesses Project Strong International Growth For Their Firms in 2016

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Jim Glassman, senior economist at JPMorgan Chase says, “While business leaders admittedly see challenges overseas, they continue to see opportunities at home and anticipate positive growth in international markets over the next few years."

In the Business Leaders Outlook 2016, the top challenges facing businesses are revenue/sales growth (74%); limited supply of talent (40%), especially in the construction (63%) and services (50%) industries; and, managing labor costs (40%) were also noted challenges.

Despite challenges and overall global pessimism, businesses nevertheless project strong international growth for their companies. Among the 60% who are globally active, seven out of 10 (70%) expect their overseas sales to increase in the next five years.

Read more:  JPM:  U.S. Businesses Optimistic on Growth; Uncertain About Economy

Note:  In the Business Leaders Outlook 2016, you can find out what nearly 1,400 middle market executives think about the economy and how they're planning for the year ahead.

Anyone, Anywhere in the World Can Participate In Your Conference Call On the Cheap

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I've been a big fan and user of FreeConference.com for some time so I am happy to see the following:

FreeConference.com now offers dedicated dial-in numbers in more than 40 countries. These in-country numbers open up new ways to communicate with foreign colleagues and can help small businesses and their international partners avoid long-distance fees. As connected consumers and business professionals, it's easy to take cheap broadband and mobile connectivity for granted in the U.S.

This means that the new International dial-in numbers allow anyone to participate in your conferences, no matter where in the world they happen to be.

Learn more:  FreeConference.com Gears Up for a More Global 2016

Note:  It's not too late to sign up for a WEGG webinar taking place today, 4/13, at 11:00 a.m. Central time and it's on "How to Negotiate a Winning Foreign Distributor Agreement."  Global business expert Doris Nagel is the presenter.  The event is no charge but you must register to attend.  Sign up here: https://attendee.gotowebinar.com/register/6798724970214043394.

SBA Honors Export Lenders of the Year 2016

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The the U.S. Small Business Administration, honored GBC International Bank of Los Angeles as the SBA 2016 Export Lender of the Year, and BanescoUSA, a community bank with headquarters in Coral Gables, Florida as SBA's Export Working Capital Lender of the Year at the 9th Annual SBA Export Lenders' Roundtable (4/8/16).

Last year, SBA guaranteed a record 1,777 loans to small business exporters for $1.45 billion, which supported an estimated $3.3 billion in export sales.  Small businesses account for one third of all U.S. export sales.

Read more:  SBA Administrator Recognizes Export Lenders of the Year

Today in Global Small Business: A New Startup to Bring SMBs to World Markets

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

• How Pinterest is going global, modestly.
• Debating the ethics of national borders.
• India's nascent e-commerce market likely to draw global, local players.
• How Europe’s biggest Internet company wants to reach three-quarters of the world’s mobile phones before it runs out of cash.
• As globalization slows, a new startup raises $27 million to bring SMBs to world markets.
• Oh dear.  It's the end of globalization as we know it.

Self-Portrait: Mommy Long Legs

©2016 Laurel J. Delaney.  All rights reserved.

Some may remember the classic movie Daddy Long Legs with Fred Astaire, (1955), the much-filmed story of a millionaire who anonymously sponsors, then falls in love with a young orphan (Leslie Caron).

This is my version of the same theme but calling it Mommy Long Legs.  It's amazing what the sun does for you when it is behind your back while taking a photo.

International Trade Proves Accessible

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According to smallbusiness.co.uk, nearly four in five UK micro-multinationals feel international trade is just as accessible for small businesses.

The article goes on to say that globally, all micro-multinationals believe having a presence in multiple markets makes it easier to sell goods cross-border, with more claiming it is easier to operate internationally now than it was in 2010.

'Innovation has always been stimulated by international trade, so as logistics experts, it’s vital we are primed to help businesses of all sizes take advantage of global opportunities. UK micro-multinationals are no exception, and equipped with the right support could change the face of global business as we know it.'

Read more:  Micro-businesses are born global as international trade proves accessible

Exim Bank 2016 Annual Conference April 7-8

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EXIM Bank back in business and hosting its annual conference in Washington, DC, April 7-8.  They have many prestigious big company speakers -- from Ursula Burns, Chairman and CEO, Xerox Corporation to Vinton G. Cerf, Vice President and Chief Internet Evangelist, Google to Jim Clifton, Chairman and CEO, Gallup.

Learn more:  EXIM Bank 2016 Annual Conference Washington, DC:  April 7-8

And it appears that small business owners will have a voice at the conference.

SESSION ONE: 2:45 – 3:45 p.m.

Navigating the Trade Finance Maze as a Small Business Owner (Palladian Ballroom)

Small Business exporters share how they are using EXIM Bank financing to grow their business profits and sell their products globally. Great for first timers!

National Small Business Week May 1-7, 2016

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As the head of the U.S. Small Business Administration (SBA), Administrator Maria Contreras-Sweet announced that this year’s National Small Business Week will be held from May 1-7.  This year’s theme will be “Dream Big, Start Small.”

At the same time, Small Business Person of the Year winners from the 50 states will be named.  All of the winners have been invited to attend the ceremonies in Washington, D.C on May 1-2 where they will be awarded their individual awards along with recognition of the runners-up and the naming of the 2016 National Small Business Person of the Year.

If that is not enough, announcements will be made for the 2016 National Small Business Week awardees for 17 different categories ranging from exporting, outreach, contracting, lending, disaster recovery to manufacturing and research and development.

Learn more:  National Small Business Week

Wink Models Is Going Global

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Taryn Williams, owner of Australian-based Wink Models, is going global for her latest venture.

Williams, who has been in the Australian talent and modelling industry for the past 15 years, expects her business, THERIGHT.FIT to break even by quarter three of the second year of operations in New York. William's existing business WINK Models has a turnover of $3 million. 

Read the article:  The benefits of going global for your business

Today in Global Small Business: How to Stay True to Your Craft

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

• Five trends worth watching in B2B e-commerce.
• Is UPS well positioned to benefit from e-commerce?
• Need a second line to your cell phone?  We've got you covered (and it's FREE).
• Digital globalization:  the new era of global flows | McKinsey & Company.
• Seven trends small businesses need to watch.
• Five lessons on how to stay small (even when you are big) and true to your craft.

Make Your Heart Sing

©2016 Laurel J. Delaney.  All rights reserved.

A recent visit to The Art Institute of Chicago makes my heart sing.

Taking Your Business to the Global Level via a Twitter Chat

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On Wednesday, April 6, 2016, PayPal will host an hour long Twitter Chat from the @PayPal4Business handle with successful entrepreneurs who have taken their companies to the global level.

What can you expect?  You will hear four different perspectives from four different online merchants -- each sharing key insights and tips for those looking to start a new business or for those who are trying to get their products and services into the hands of international customers.

Learn more:  Tips to Help you Launch a Global eCommerce Business