Global from Your Backyard – Tips for the Globalizing Entrepreneur
ELEVEN GLOBALIZATION FACTORS TO USE IN YOUR BUSINESS
The idea of globalization has many people worried about their economic and employment future. After all, globalization means competition with everyone on earth (7 billion people), and those who have favorable trade, regulatory or tax environments enjoy an advantage. Maybe you fear a race to the bottom in wages and prices because there is always someone who may undercut you.
But globalization presents extraordinary opportunities. Because of the common bonds all humans share, globalization provides you with an opportunity to take your product or service to new markets, and introduce varied cultures and backgrounds to the value you have to offer. You may be surprised by how well you do because of the ties that bind across all humanity, and bring us together more often than split us apart.
Globalization means you are operating on an international scale. Even as a small business owner, you are thinking about how to deliver your product or service in a global marketplace. Here are eleven factors to keep in mind:
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- Use differences
Many people have a pre-conceived stereotypical idea about what other people are like. Depending on the product or service you are delivering, the stereotype may be a selling point in a foreign market, as long as you are careful to keep the image playful and not offensive. In this Internet era, your advertising is available to the world. If you use insulting images everyone will know about it. But if you relate the image to your product or service in a fun and tailored way, you may get a positive response.
Part of your value is in your uniqueness, and part of your uniqueness may very well be where you come from.
Action: Use the cultural or location uniqueness of your product or service to appeal to foreign audiences.
- Highlight similarities
Even before the Internet era, people around the world were united through sports, popular television shows, movies, and music. Michael Jackson’s death was famously acknowledged on every continent with young people coming together to dress and dance as he once did.
You can likely find a connection between your country and your target market, which can be used to build a shared idea around your product or service. When finding common political or historical grounds, do your homework and make sure you are not igniting old negative sensibilities. Sadly, many countries have the same foundational backgrounds because they were the victims of colonialism and conquest, and the stories are not always welcomed as history. Position your product or service on the positive side of shared ties.
Action: Research the history of your country and your target market and try to find a political or historical connection that ties back to your product or service.
- Use photos
A picture is worth a thousand words. The saying has never been more relevant. Humans have always used pictures to describe and memorialize their history, stories, and the world around them. But the process is much faster now with photo/video sites on the Internet rising in popularity. With a camera in every hand, capturing and displaying images is a daily occurrence for millions of people.
Imagine how your product or service can be captured for display for people who speak a different language or have a different culture. If people see an image they can instantly understand, they will probably share it with others, and spread the word about the value you are delivering.
Action: Capture the value of your product or service in images that can be shared.
- Be affordable
Nearly one in five of the world’s people live on less than one dollar a day, nearly one half live on less than three dollars a day. But development is happening everywhere, and the opportunity for economic growth exists in even the poorest countries. Depending on your product or service, you may have an opportunity to reach a broader base by providing free or low cost introductory products for your audience. You can utilize global resources and outsource to find the most affordable options. This will allow you to maximize sales and volume, if that’s the gain you are hoping for.
Action: If you create a free or low cost introductory product or service, you have an opportunity to reach a broader overall market.
- Be expensive
Consider the estimated potential for a middle class including as much as half the world, more than 3 billion people, who could become part of the global middle class in the next few years. This presents an outstanding opportunity for all businesses.
The global middle class will be buying everything, not just consumer goods like cars and microwaves, but information, education, software, self-improvement and business development tools as well. Plus this group is Internet-connected, and well aware of their consumer needs. If you ignore them, you will miss out on amazing opportunities.
Action: Price your product or service at its value to your consumer market. Quality, premium goods support consumers’ goals, aspirations and tastes all over the world.
- Travel and see for yourself
When you travel to the destinations you’ve only heard about, you find out what people are really like, as well as the market’s consumer interests. Although you may be concerned about venturing around the world right now, travel is not as daunting as it may sometimes appear. If you have a flexible schedule and can travel in non-peak times, you may be able to find inexpensive fares, hotels and even tours. Use the tours to help you navigate the land, but make sure you also wander into the streets and observe the daily goings on with the local people.
You may find endless ideas to support your product or service launch in the market you are visiting.
Action: Schedule travel to markets where you plan on launching your product or service.
- Provide information
People are looking for well-presented, straightforward, consumable information about a myriad of topics (look at Google search terms). If you can tie your product or service to a broader topic, you may double (and triple and quadruple) the value you provide to your intended customer base.
In many countries, although people have the Internet, they do not have support services such as libraries or government agencies to back up their research. Think about the industry your product or service is in, and the type of information people need when using the product or service. Package or support your business with this additional user-friendly information. Being a broader source of information could make you the industry’s go-to person and an influencer for the market where you sell.
Action: When preparing the product or service for the overseas market, consider the industry information that may be relevant and valuable to your targeted audience.
- Be flexible with time zones
If you are doing business in the entire world, understand the impact of time zones on your event marketing and launch scheduling. You may not get the results you want if you are only available to the public when your target market is asleep. When doing webinars or live events, if you are reaching out to the whole world, include different times when people can tune-in and catch you. These types of events have a huge impact on building your audience and you do not want your intended target market to miss you.
Action: Have a system for checking the time in your target market so you can schedule for your intended audience.
- Learn language keywords
When you branch out globally, you may decide to target two or three potentially strong markets for your product or service. In this case, learn a word or two in the local language to use in your communication, advertising and promotions. Check how the locals say: Hello, Thank you, and Contact Me.
Google Translate and other tools make it easy for you to receive messages in multiple languages. You can indicate your willingness to accept different languages by expressing the interest in your outgoing communications. Using a little of the local language could be a differentiator and allow you to stand out from others who may have a similar product or service. Plus it could indicate to your audience that you know a little something about where they come from.
Action: Add words in a foreign language to target specific global audiences where you may have a following. Show your global view in your communications.
- Connect your technology
Globalization means you are part of an integrated economy. But if your technology for communicating with customers, accepting purchases, and delivering products or services does not reach everyone you want to serve, you will miss out on potential customers.
Double-check your technology and the options you have available for your customers. For example, make sure e-mails have the option to be delivered in Plain Text or HTML so people in countries with slow Internet do not have to wait for graphics to load. Having accessible technology is vital to being a global business, no matter how small or niche your market.
Action: Check your technology to make sure options are provided for the various types of Internet access and speeds available around the world.
- Be Consistent
Universally, consumers are looking for valuable products, services and information they can rely on. As you begin rolling out your product or service, stay in the markets where you go and continue to deliver value to those consumers. Of course, if delivery in the market does not go well you can always back out. But once you’ve established customers there, don’t forget them. You will likely be part of a growing marketplace and can continue to offer new products and services where you are already established.
Action: Think global from the beginning and maintain a consistent approach to your global customers.
Remember…
Successful global entrepreneurs recognize the entire world is the potential marketplace for their products and services. As you approach global customers, your valuable contribution to the world marketplace will be recognized and celebrated if you remember these eleven tips for being Global right from Your Backyard.
GIVEAWAY BONUS INFORMATION
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ADDITIONAL RESOURCES FOR WANTREPRENEURS
Free Training for Rising Entrepreneurs
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Ten Essential Tools to Help You Get Started as an Entrepreneur
When you begin planning your business. You may be focused on your business idea, plan, set-up and launch date. But how do you do your focusing? Are you putting the ideas in the notes feature on your phone or scribbling thoughts on to a piece of paper? And where are those pieces of paper anyway?
Revving up your entrepreneurial engine also means getting organized to be comfortable and efficient when you are working on your business. One of the best ways to get started is to have a core set of tools around you to access whenever you are ready to take action.
For Planning
Planner
Planners have become essential tools for many people who are trying to stay organized with their thoughts and business launch. A good planner not only contains pages for the days of the week but also spaces to write down your thoughts and ideas. Planners vary in size from palm-sized or fit for a three-ring binder.
Many people use the planner in two distinct ways:
One time – Sit (or lie) down and document your entire strategic plan for starting your business. Think about your overall goals and how you want to implement them.
Every day – Once you have put down your big picture in the planner, you can use it every day to keep yourself on track. Always refer back to your overall goals. As a business owner, you will also be changing and updating your plan. Do not be afraid to stray or radically change the ideas you set-up the first time. Business moves quickly and ideas are always subject to change.
Blanket
Think of a soft piece of fabric you can drape around you to give comfort as you plot through your plans for your business.
When you’re curling up to put your planner ideas onto paper, you probably need a cozy blanket to keep you tightly wound to the task. Even if you live in a warm climate, you may be working in the air-conditioning, or at night in cool wind. A blanket provides a layer of security to support your deep thinking.
For Ideas
Notebook
We all carry mobile phones, but when it comes to that quick idea popping into our head, many people still prefer to just write it down. Same goes for taking notes at a conference or lecture hall, paper is everywhere. Use a good notebook to gather points for your business plans. You can include notes from webinars and speakers, courses you are taking, interviews, site visits, and all other activity related to getting your business off the ground.
From the hundreds (probably thousands) of different notebooks available, find a favorite and buy multiples at a time. You’re going to need them.
Pens
Do you have a pen? Unless you work in an office, finding a pen does seem to be a bit of a struggle. But when you are doing your planning or preparing for your business you need to have a good stack of pens around for all those notes. You should leave a pen inside your planner, and another in your notebook, and do not let them disappear. Find some hiding spots for your favorite types of pens. You want to be ready as soon as the ideas hit you.
Pencil Bags (for lack of a better word)
We know you are not in grade school anymore, but you’ll need somewhere to keep your extra pens, or pencils, or markers or highlighters you may be using for your business. You do not want to be searching for a pen when your million-dollar idea hits you. You want to be able to write it down immediately.
A colorful bag will be easy to spot around the house and can be kept full with your favorite business related items. Bags with wrist straps or other attachable pieces help make sure it does not go astray.
For Nourishment
Water Bottle
When you are sitting for hours putting ideas together for your business, you should stay hydrated. A good, big water bottle prevents you from getting distracted by constant trips to the refrigerator. Keep the bottle filled in the fridge, to have the water cold and ready to go when you start to work.
Coffee or tea mug
For the caffeine aficionados, pick a favorite business work coffee or tea mug and stick with it. One efficiency killer for rising entrepreneurs is to spend any part of your day searching for a mug for your coffee. Have your mugs organized and ready to go and you will be moving along much faster with your business ideas.
Food containers
If you are really organized you can double (or triple or quadruple) cook and save your food in containers that can be heated later. Double cooking means cooking twice as much food for twice as many, or more meals. This saves you the time of cooking every day, freeing up oodles of time to work on your business.
For Advice
If you are one of those budding entrepreneurs who is surrounded by people who do not understand what you are doing, take solace in your access to endless spoken information from experts.
Audiobooks
Listening to someone impart wisdom is a time-honored tradition dating back to the beginning of humanity. Today all the information is available an unlimited number of times to everybody. If you do not have time to sit and read a book (but try to make the time), you can always listen to the content while doing other things, especially commuting by car or public transit or standing in line, anywhere.
Grab one of those lists of ‘100 business books billionaires recommend’ (or similar) and get started.
Podcasts
For more recent information on just about every topic you can think of, you can check out the myriad offering of podcasts. You can listen to general advice about starting a business and entrepreneurship, or even more specific information about your industry, product or service. You can effectively spend hours a day listening in on great conversations that will help you move your business forward.
Use these 10 essential tools to facilitate your planning, set-up and running of your new business. Every entrepreneur should always be ready to go, and with these essential starter products you know you can focus on the tasks at hand.
Additional Resources for Wantrepreneurs
Free Training for Rising Entrepreneurs
Get help to start your business plans. Check out this link: free video training series for wantrepreneurs. This training is for those of you who have always wanted to start a business but need to find the confidence, time and money to get started.
Facing money challenges? Working and saving is still a real road to wealth. Download this straightforward financial guide: A Better Plan: Spend to Live, Save to Wealth: A Real Life Guide to Building Wealth from Nothing and Living a Life Without Financial Fear.
For Amazon (Kindle): click here
For iBooks (Apple products): click here
For Smashwords (all formats): click here
For more information about becoming an entrepreneur, visit my website, https://www.readyentrepreneur.com.
Want to discuss the content of this blog or other ideas? Send me an email to: contactcase(at)readyentrepreneur(dot)com
Ten Eclipse-Inspired Reminders to Use in Your Business
Just when you may have thought the eclipse was an excuse to have a few hours off, take a second look at how the event in its totality brought home some important reminders for anyone running a business.
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- Humans are curious
On August 21, 2017, millions of people stopped what they were doing to look at the sky. Way back in the day, humans had to experience the eclipse without receiving a weeks long primer from the 24-hour news cycle. This year everyone knew what to do. They purchased the correct solar viewing glasses, found a spot to relax and let their minds be overtaken by the cosmic spectacle.
When building and running your business, remember this curiosity factor. If you do something original, or even the same, create a unique edge to it that will drive interested people to your website or storefront. Looky-loos slowing down on the freeway to gawk at an accident may be annoying when you are trying to get home. But this aspect of human nature can propel you to the top of your industry if you use the behavior correctly.
Action: make the uniqueness of your product or service for your ideal customer
- Shared experiences are emboldening
In an era when the collective is fading fast, and niches are rising up to create riches for those who know how to serve them, a shared experience is a rare and valued moment. While the Super Bowl or World Cup can still drive millions of people to watch the same screen at the same time, few other events have that kind of drawing power. The eclipse pulled people out of their homes to go to parks, science museums, conservatories, and even news station parking lots to watch a rare event together.
Creating a community around your business is one of the fastest ways to increase interest and build your brand. People who enjoy your product or service may band together to discuss or share their experience with it. They may want to be connected to other users in an ongoing way. You can establish and facilitate these groups and effectively maintain your brands’ followers through social media. A few excited, rabid fans will be more valuable for a longer period of time than thousands of indifferent followers on a social media platform.
Action: create a niche community in social media or at your website that serves your customers’ interest in your product or service
- Image sharing is domination
People are becoming increasingly more focused on visual imagery. Photo and video sharing services are rising fast on social media. Everyone with mobile phones in their hands is also carrying a camera. The ability to show an experience to millions at a time provides people with their daily approbation, a sense of belonging and even superiority. While some may lament the ‘drive for likes’ that dominates the average social media user’s day, others can recognize how the activity is part of our human sense of survival of the fittest.
If your product or service can be incorporated into a person’s day, it will likely find its way into social media photos and videos. People will feel compelled to join the sharing if they see you or someone they know doing it first.
Action: if you use social media, incorporate the images of your product or service, preferably in use, into your photo and video feeds.
- Cheap products can be reused
One of the hottest products to purchase in the last few weeks was solar eclipse glasses. In a time where everything is digital and quality means expensive, these pieces of cardboard selling for less than $2 each were specifically designed to prevent retinal damage from the sun’s rays. For such a cheap product, the glasses sounded awfully official, with designations such as ISO and CE certified (whatever that means), and assorted numbers associated to the solar filters. The product sold out everywhere. How could the product be so inexpensive? My guess is overseas sourcing, that is the materials and labor to make them came from inexpensive labor markets.
Solar eclipse glasses were a reminder that physical products have a place and can be made to deliver on their promise. If you are creating a product for your business, imagine how you can source the right combination of materials and scientific and manufacturing guarantees to make it valuable to your average consumer.
Action: when creating a product, look at sourcing for the long-term using the certified inexpensive materials that provide a valuable benefit.
- Destination travel is a party
To be in the direct path of ‘totality’ for the eclipse, millions traveled to a band of cities across the United States. They packed cars and RVs with beer, wine and snacks and set off with family and friends to pick a spot where they could sit for three hours and watch cosmic forces in action. This was a vacation with a purpose and everyone who made the trip needed an array of goods to support their viewing party.
If you have a business that supports travel, especially specific purpose destination travel, you have an opportunity to capitalize on the moment by tying your product or service to the travel reason. Think about how your product or service is essential to the travel reason, and how you can best serve customers who are looking for exactly the value you deliver to make their trip perfect.
Action: determine whether your product or service has a travel angle that can showcase your value to vacationers.
- People want explanations
Preparing to watch the eclipse generated thousands of questions from millions of people. Many still do not believe they received a solid response, especially in the partial eclipse areas where the sky did not go dark. Eclipse Day put organizations such as NASA and the American Astronomical society, as well as all of the new media at the forefront of providing information. Some delivered, many did not.
If you have a product or service built around delivering information to customers, you are in a field already providing value. People are constantly searching for more information about pretty much every thing they can think of. Search drives a huge portion of activity on the Internet, and the aggregation of information is a major factor in business success.
Action: think about the information your business can provide in your industry or field of interest. You may have a built in market of people who are looking for exactly the value you deliver.
- Scheduled events can work
In the on-demand, replay world, people are used to picking up on an event whenever they are ready to experience it. But when an event is scheduled for only a specific time, and there is no replay, people will flock to it for the chance to be a part of it. Despite a post-industrial, digital bent towards loose commitments, a scheduled event can take precedence, if it has the perceived value a person seeks (like a shared experience or a great photo opportunity).
In your business, you may be able to schedule exciting events that make customers drop all other activities to be part of the fun. Whether these are digital moments or ‘pop-ups’ in the physical world, the sense of timing tied to scheduled events is what makes it important in the first place.
Action: develop a must attend event for your customers that cannot be recorded or replayed.
- Lost productivity can strengthen teams
A few economists enjoyed predicting how much money businesses would lose during the eclipse hours. The number was of course in the millions. But what were employees doing while they stared out the window, probably chatting with their colleagues, maybe even introducing themselves to people they did not know. Fretting about losing may prompt you to miss out on what you are gaining, a whole new level of camaraderie in your team.
If your business needed a team boost, the eclipse viewing was an inexpensive (hand out glasses for all) way to leverage a global event for your own benefit. The viewing did not last all day, so anything that needed to be done could have happened at some point. But with those few free hours, you had a chance to change the dynamic of your team, possibly forever.
Action: the next time a collective event threatens to distract your employees, use the opportunity to encourage conversation and interaction with colleagues. A stealth team-building event may have a lot more lasting value than playing building games.
- Science is fun
Accepting the idea of an impending total eclipse of the sun meant you had to believe what the scientists were telling you. Few people have the equipment to measure the rotation of the earth, moon and sun. Most people rise every day expecting the sun to be able to send all its rays to the earth. For the few hours when it cannot, science has your attention.
If you have a business with a science connection, think about the need humans have to embrace science when it affects them directly. A total blackout of the sun hits home with every human and animal (and probably plant) on earth. Your business may not be as dramatic, but if you are selling a product or providing a service that helps people, consider how the science involved may spark additional interest in the value you are seeking to provide.
Action: use science facts to support the value your product or service purports to deliver.
- A reoccurring theme has reoccurring value (welcome back, Bonnie Tyler)
If you are a 80s music fan you probably enjoyed the resurrection of Bonnie Tyler on Eclipse Day. The 80s pop star’s hit song “Total Eclipse of the Heart,” enjoyed a YouTube surge, and she was all over the news seen still performing the song for the occasion. (The song was written by Jim Steinman). Besides the wonderful pop culture optics the news reports provided, the story was a reminder of how a product tied to a reoccurring theme can enjoy multiple rebirths.
If your business or service is not obviously tied to events or practices, like weddings, birthdays and eclipses, try and figure out if you have a theme. You have the ability to re-launch your product over and over again, if you can tie it to another ‘happening’ out in the world. The value of an ever-regenerating product cannot be measured. Each new launch brings new publicity, promotional opportunities and revenue.
Action: find the reoccurring nature of your product or service that can be used to re-launch, boost or promote your business again and again.
Remember…
A successful entrepreneur pays attention to how events in the world may affect a business enterprise. If you were one of the millions in the path of the total eclipse of the sun on Monday August 21, 2017, you may have been caught up in the spectacle and missed the business lessons magnified by the event. Hopefully these ten reminders will help you think about where to place your attention the next time a mass collective event takes place.
Want to discuss the content of this blog or other ideas? Send me an email to: contactcase(at)readyentrepreneur(dot)com
Freedom, Satisfaction, Security – Do you like those words?
Three Reasons Why You Should Get your Business out of your Head and into the World
“You are the average of the five people you spend the most time with.” That is a line credited to motivational speaker Jim Rohn who basically said that given the law of averages – any given situation would be the average of all outcomes. When it comes to personal relationships is his pronouncement a harsh or valid view of your friends, family and co-workers?
When people who succeed make a move towards their goals, they inevitably pull away from those who are holding them back. They seek out people who are more like them, high achievers who set goals and work to pursue them. They try to avoid spending more time with people who are bringing them down.
The law of averages basically means given many, many trials of the same thing, the results pretty much even out over time. If you take this definition into personal relationships, you could interpret the idea as meaning when you are working with large numbers, if you do what everyone around you is doing, you are likely to end up just like them. But if you want to break away, you have to push yourself to find the people who are where you want to be.
Most people who decide to break away are looking at three great reasons for doing so – Satisfaction, Security and Freedom. Three popular words associated with having your own business.
If you have business ideas in your head, or have ever wanted to own your own business, you are probably seeking professional satisfaction, financial security and lifestyle freedom. Those are three of the important reasons to be your own boss.
Professional Satisfaction
Having professional satisfaction means you are doing the work you really want to do. Whether you are creating online, or working with your hands, or running a restaurant – every day presents new and exciting challenges that propel you forward. Instead of the space you are in with work you no longer enjoy, you get up feeling ready to learn and contribute to your own enterprise. The results double back to you.
Many people are dissatisfied with the daily grind of their jobs. When you have your own business, every minute is dedicated to your own advancement. All of the business activities, benefit you, and your goals, dreams and objectives. Instead of satisfying someone else’s work agenda, you dedicate your time to your own. The result is the difference between being fulfillment and hollowness.
Financial Security
Many people want their own business to ensure control of their finances. When you first start a business, the goal may be difficult to achieve because you are investing directly in setting up your enterprise. But financial security is not only about having a million dollars in the bank.
Financial security also means knowing if you will have one dollar in the bank. When you work for someone else, you typically have no insight into whether or not you will have a job the next day. People are often surprised by layoff notices, and they are unaware of the true financial state of the company. You are basing your activities – family vacation, education fund, retirement – on decisions that will be made by others without consulting you. If you ran your own business, you would make all those decisions yourself.
Of course, running your own business can also be financially insecure because you take on increased risk. But again you would be aware of those risks and can predict and plan for them. Risks you can see are certainly better than ones that come up and surprise you later. And when you own the business, those risks rapidly turn into rewards that change your life forever.
Lifestyle Freedom
The greatest benefit to running your own business is the freedom to manage your own lifestyle. Do you have to go to the doctor? Just go.
Do you want to do your holiday shopping on a Tuesday afternoon? Do it.
Do you want to take your summer vacation in April? Enjoy.
All the decisions that are currently dictated to you by someone else’s rules disappear when you have your own business.
You too could have a specific work timetable, if you were in charge of the schedule in the first place.
Satisfaction, Security, Freedom
Starting your own business helps you achieve the satisfaction, security and freedom you are looking for. If the idea of starting your own business has already been in your head, it’s time to take action and begin to build towards your controlled future.
Check out free video training series for wantrepreneurs if you would like some help in getting started. The training is for those of you who have always wanted to start a business but need to find the confidence, time and money to get started.
Facing money challenges? Get my book: A Better Plan: Spend to Live, Save to Wealth: A Real Life Guide to Building Wealth from Nothing and Living a Life Without Financial Fear
For Amazon (Kindle): Click Here
For iBooks (Apple products): Click Here
For Smashwords (all formats): Click Here
Want to discuss the content of this blog or other ideas? Send me an email to: contactcase(at)readyentrepreneur(dot)com
