Today in Global Small Business: The Backstory on Globalization

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

• The world has undergone a transformation in the structure of the global economy – known as "globalization."  This commentary examines the why and how behind it all.
• The global economy's 200-year growth spurt – and what comes next.
• Quote of the week: “Globalization for a startup is exciting; you have to learn so fast about the different cultures of the world." – Adam Neumann
• Marriott International is expanding its global footprint for future growth.
• Three key aspects to get in line when expanding globally.
• Mews secures $100 million to fuel global expansion and accelerate strategic acquisitions of hotel technology

Candy Is Childhood

©2024 Laurel J. Delaney.  All rights reserved.

"Candy is childhood, the best and bright moments you wish could have lasted forever." – Dylan Lauren

Walmart Optimizes Retail Strategies With International Scale

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Since launching Walmart Luminate, a comprehensive data analytics product suite, Walmart has successfully aided in optimizing retail strategies – from product assortment to product development – leveling the playing field for suppliers of all sizes.

Today, 90% of Walmart's largest suppliers have signed up for a Walmart Luminate Charter subscription, and some of their smaller suppliers account for approximately 50% of our total subscriptions.

What began as a small but dedicated team has evolved into a thriving commercial business with international scale and even more opportunities ahead to create lasting value for their customers.

Every Day Is Gift

"Every birthday is a gift. Every day is a gift." —Aretha Franklin 

Are You a Remarkably Good Leader?

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Are you a remarkably good leader or someone who just nitpicks and thinks that is leadership?

Leadership comes in many shapes and sizes, its qualities are subtle. While we think we know many of the leadership qualities that make great leaders, and even practice them, here are twelve simple signs that show you're a remarkably good leader.

Quest for International Expansion by Asian-Pacific Consumer Product Companies

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For Asia-Pacific CPGs, international growth is more critical than ever due to maturing domestic markets. Fortunately, the growing popularity of Asian culture enhances their chances of success.

As growth in domestic markets slows, Asian companies must expand internationally to keep thriving.  They are also wrestling with numerous strategic questions, including:

1. Which markets should we enter first?
2. Which consumer segments should we target?
3. Should we act as a category disruptor, or should we “play by the rules” of the foreign market?
4. Should we drive growth organically, or inorganically through M&A?

Bain & Company offers several approaches to success drawing from extensive experience working with leading Asia-Pacific-headquartered FMCGs on international expansion.

Today in Global Small Business: European Union (EU) Small Business Export Report (eBay)

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

• eBay publishes a new report on European Union (EU) small business exporting.  Direct access to report can be found here.
• How weather and other factors are impacting fruit exports from Peru.
• Quote of the week: “When I returned to the United States after three years of World War II service, my total assets consisted of one wife, one small daughter, $276 in the bank, and an idea. The idea was for an export business to supply items badly needed everywhere in Europe." – E. Joseph Cossman
• Every G20 economy's top export market.
• Amid the global green goods boom, India is yet to jump on the bandwagon.
• Innovation linked to international exports for both rural and urban firms.

Be Silently Drawn by the Strange Pull of What You Really Love

©2024 Laurel J. Delaney.  All rights reserved.

“Let yourself be silently drawn by the strange pull of what you really love. It will not lead you astray.” – Rumi

[Super moon photographed by Laurel Delaney (self-portrait) on 9/19/24 in Rogers Park, Chicago, Illinois.]

Embrace Your Foreignness to Yield Unforeseen Competitive Advantages

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Expanding into international markets presents numerous challenges for companies, particularly due to their “foreignness.”

Many global companies tend to overcome those challenges by minimizing their foreignness and assimilating into the local environments. However, maintaining and embracing foreignness can yield unforeseen advantages. 

Whether capitalizing on outsider status to tap into local labor markets, establishing potent associations to build credibility, or forging strategic partnerships to foster mutual international growth, your foreignness can indeed become your competitive edge. By embracing a nuanced approach that acknowledges and leverages foreignness, companies can not only navigate but thrive in unfamiliar territories.

The complete article by Lele Sang at Harvard Business Review can be found here.

Getting Global Expansion Right

©2024 Apress.  All rights reserved.

When is the right time to go global?  It's hard to determine.  

But what's easy is to expand too quickly or into the wrong markets. Nearly every company begins life in a single market, and determining when and how to expand internationally is a challenge every successful company must eventually address.

According to Forbes, the key to global success is simple in theory and complex in execution—to go global, you have to be local. 

Here are three keys to getting this right.  

Oh, one more thing.  If you haven't read this book (pictured – and a book I [Laurel Delaney] authored), do it now, because it provides international expansion strategies and tips that help individuals go from thinking about going global to creating, running and maintaining a successful global business.

Number of SMEs Worldwide

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There were estimated to be approximately 358 million  small and medium-sized enterprises (SMEs) worldwide in 2023. The number of SMEs dropped slightly in 2020 during the COVID-19 pandemic, but increased since.

Other statistics on the topic:

• Biggest companies in the world by market value.
• Largest companies in the world based on revenues.
• Top companies in the world by revenue 2023.
• Number of Amazon employees 2007-2023.

Access all here.

How to Build a Successful Global Business Around Sustainable Fashion Principles (wegginar® 9/18/24)

©2024 Women Entrepreneurs Grow Global®.  All rights reserved.

Here's what you can expect to learn from the upcoming wegginar®, 9/18/24, with presenter Alina Lundin, CEO and Founder of Miharo, on "How to Build a Successful Global Business Around Sustainable Fashion Principles:"

• Understanding Sustainable Fashion Principles
• Building a Sustainable Supply Chain
• Navigating Challenges in Ethical Manufacturing
• Marketing and Selling Sustainable Products Globally
• Impact of Sustainable Practices on Brand Reputation and Growth

About Alina

Alina Lundin serves as the CEO and founder of Miharo, a sustainable premium swimwear brand established in 2022. Holding a Commercial Business Diploma, she brings a wealth of strategic business acumen to the company. Her expertise in business organization and project management, coupled with her start-up experience, has been vital to her ventures.

Nui Swim, Alina’s first adventure as an entrepreneur, was created from her ambition to encourage individuals to celebrate their unique identities, offering products that quickly found a market niche.

Now, Alina’s proven insights, passion for fashion, and dedicated leadership are instrumental to the growth and success of Miharo.

Date:           Wednesday, September 18, 2024

Time:          11 AM CT

Location:   Virtual – you must register to attend:  

                       https://bit.ly/3AdsyRB  

Cost:           Free of charge (thanks to wegg's sponsors as noted on the graphic).

Register:     https://bit.ly/3AdsyRB

Today in Global Small Business: Ad Campaigns That Are More Inclusive Have a Positive Impact

©iStock/Sakorn Sukkasemsakorn

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

• A new academic research carried out for the advertising industry suggests that “Go woke, go broke," the snappy catchphrase devised by rightwing groups as a warning to brands, has got it all wrong.  New evidence that ad campaigns that are more inclusive have a positive impact on profits, sales and brand worth.
• Bed Bath & Beyond is pursuing global sales in key international markets, starting with a licensing agreement for stores in Mexico.
• Quote of the week: “Never write an advertisement which you wouldn’t want your own family to read. You wouldn’t tell lies to your own wife. Don’t tell them to mine. Do as you would be done by. If you tell lies about a product, you will be found out…” – David Ogilvy
• The NFL is going global and that's a good thing (to some).
• Last week the Private Label Manufacturers Association met in Amsterdam, this week the Canadian Council of Grocery Distributors meets in Vancouver and next week CIES, The Food Business Forum, convenes in Paris.  Global retailing is happening.
• The digital public infrastructure (DPI) of India is increasingly finding traction in other countries – truly global – and its reach is only going to increase.  

Paintings That You Struggle With

©2024 Laurel J, Delaney.  All rights reserved.

"You learn more from paintings that you really struggle with." – Dale Grimshaw 

The Field Guide to Going Global

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This latest edition of the Field Guide to Going Global from Baker McKenzie helps you examine foreign law issues for taking business models, products and technology international. Their guidance should be helpful whether you are working for a start-up company or a large multinational enterprise that is broaching new frontiers.

The guide addresses these questions:  Are you considering expanding into new jurisdictions? Are you aware which foreign laws and legal issues matter most? Have you prepared a detailed statement of facts, plans and questions for counsel?

What the World Thought of the U.S. Harris-Trump Debate 9/10/24

©iStock/Anamarija Mrkic

The first debate between Kamala Harris and Donald Trump was closely watched not only in the U.S. but around the world.

From Beijing to Budapest, here's how the debate went down, according to BBC foreign correspondents.

Is the U.S. a Good Example of Democracy?

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The most common view – held by 72% of Americans – is that democracy in the U.S. used to be a good example, but has not been in recent years. Another 8% of Americans say U.S. democracy has never been a good example for other countries to follow.

Do you agree or disagree?  Read the analysis, which indicate that Americans are much more likely than people in other countries to say U.S. democracy used to be a good example. A median of 40% of adults across 34 other countries surveyed in 2024 take this view.

Why Language Barriers Are Still Holding Back Global Business Growth

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Going global is increasingly on a CEO’s and a CMO’s to-do list. In the UK alone, 87% of those businesses who trade internationally are planning on expanding their overseas operations this year, with a further 10% aiming to step outside the UK for the first time.

That’s a lot of cross-market communication campaigns. But, despite emerging technologies helping business bridge borders more easily than ever before, they’re still being held back by language barriers – to the tune of almost £50bn per year in the UK.

In this age of instantaneous tech, a lack of language skills is still putting global business success on mute. How can marketers avoid getting lost in translation?

Find out here.

Today in Global Small Business: Eight Essential International Business Skills

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

• Eight essential international business skills.
• Master international growth with these winning strategies.
• Quote of the week:  “Success is not final; failure is not fatal: it is the courage to continue that counts.” – Winston Churchill
• US tightens export controls on quantum kit and chips for China, Iran and Russia.
• Embargoed and sanctioned countries.
• Why exporting should be a part of your business strategy.

Book of Hope

©2024 Laurel J. Delaney.  All rights reserved.

"Summer was about freedom and youth and no school and possibilities and adventure and exploration. Summer was a book of hope." – Benjamin Alire Sáenz 

Is India a Legitimate Option for Global Factory Production?

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Roughly one of every four shipping containers passing through India is loaded or unloaded at the Jawaharlal Nehru Port on the west coast of India, on the docks jutting into the Arabian Sea just south of Mumbai. The flow of containers has roughly tripled over the past two decades, reaching the equivalent of 6.4 million 20-foot boxes last year.

Yet by the standards of the world’s largest ports — many of them in China — it remains a small operation.

Find out how India is now pursuing an aggressive campaign to catch up, readying plans for new ports while expanding existing docks. 

What Is the World's Most Multilingual Website?

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John Yunker – web globalization geek at Byte Level Research and also a prolific author of books, plays and short stories – always does his thorough research and has the answer to the question:  What is the world's most multilingual website? 

He says, "One might assume that tech leaders like Facebook and Google lead the internet in languages."

He goes on to say, "Yet according to recent analysis, the two most linguistically fluent websites on the internet are managed by not-for-profit organizations: The Jehovah’s Witnesses and Wikipedia."

Read on to discover the world's most multilingual website.

A Strong Dollar Is Good For the American Economy

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The United States has benefited from a profound shift in global capital flow, which has boosted the dollar.  But why is a strong dollar in America's best interests?

Not only does a strong dollar mean that there is a healthy demand for American-made goods and services, but, perhaps more important, it’s also a show of confidence in the U.S. government and financial institutions.

Learn how the shift in global capital flow has boosted the dollar, which should continue as the global economy adjusts to higher inflation and higher interest rates. 

Women Entrepreneurs Have the Fastest Growing Businesses in the United States

©iStock/Jacob Wackerhausen

From small shops to bold startups, women are trailblazing into entrepreneurship and making things happen on their own terms. But the playing field isn’t quite equal yet. Behind the breakthroughs, female founders still see more doors closed than opened regarding funding and fair chances. The percentage of women who started a business in the last year was 47%, compared to 44% for men.

Businesses owned and operated by black females in the United States between 2014 and 2019 increased by 50%. About 2.7 million enterprises in the United States are owned and managed by black women.

Learn more about the top major women entrepreneur statistics.  And see how many women entrepreneurs are turning to global expansion for growth.

Today in Global Small Business: What Will Sweeping Tariffs Across China Cost the United States? Plus, U.S.A. Labor Day

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

• With Donald Trump and Kamala Harris neck-and-neck in polls ahead of the United States presidential election, many are wondering how a second Trump administration would approach China, imposing sweeping tariffs, for example.
• Top geopolitical risks of 2024.
• Quote of the week:  "We must dare to be great; and we must realize that greatness is the fruit of toil and sacrifice and high courage." – Theodore Roosevelt
• Fed signals September rate cut and other economy stories to read this week (8/23/24).
• Why is cross-cultural communication important?
• Ongoing global supply chain challenges.
• History of Labor Day – may it be reflective.