How Small Becomes Big: Why All Entrepreneurs Should Think Globally from the Start
Historically, the average entrepreneur had to start small and think small because reaching a large, global audience was incredibly expensive. But that was then, and this is now. Thanks to the Internet, modern communication systems, and social media platforms, anyone can create a business that is visible around the globe. Because of this, every modern entrepreneur should think globally from the beginning.
Three Benefits to Thinking Globally
It may be easier or more convenient to stay local, but there are big advantages to going global:
- The most obvious benefit of thinking globally is that your market is nearly unlimited. If you are from Nowhere, USA, your market under the old paradigm would have likely kept you from ever launching a business. But a global outlook provides many more sales prospects, allowing you to successfully launch an otherwise unsustainable business.
- Thinking globally means you will most likely be selling to a diverse consumer base. This will force you to find the absolute core value that connects you to a potential customer, and to create effective marketing messaging around this core.
- Another benefit is that the geographic diversity of your consumer base affords you the opportunity to detect patterns and trends across groups that you otherwise might not have noticed within a homogenous consumer base.
Can Every Entrepreneur Benefit from Thinking Globally? Yes!
Thinking globally can seem like a daunting task, but nearly any company can actually succeed this way. A lack of creativity is the only thing holding your business back from succeeding on a global scale.
Hereâ€™s the basic path to success:
- Promote your expertise online by creating eBooks or instructional videos, and distribute them for free.
- Promote your content on social media platforms like Facebook, Twitter, and YouTube to grow your following.
- Once youâ€™ve built a large following that trusts you, begin to sell additional information and products, or organize seminars and events where you can charge for attendance.
Four Practical Tips for Success
Donâ€™t assume the workload to going global is insurmountable. There are four ways to focus your thinking to make the transition easier:
- The key to going global is to think â€œinformation publishing.â€ The absolute cheapest and best way to reach a large audience is to create transferable content that exhibits your expertise. eBooks, videos, podcasts, and blogs are all digital items that can be easily shared from one consumer to another.
- Social networks are excellent places to build communities around your brand and values. An effective social media strategy takes patience because growing a following requires building trust â€” a notoriously slow process. But if you consistently provide content of value to your followers and lead conversations (not sales pitches) around shared values, social media will be an enormous boon to your business.
- Consistent content creation and digital community organization can sound daunting, but it is a lot easier if you donâ€™t try to figure it out all on your own. Take time to research and study what big, global brands are doing online, what kind of content they are producing, and how they interact with followers. Sometimes, itâ€™s just easier to imitate successful brands online, rather than reinvent the wheel.
- Consider hiring low-cost labor online in the form of freelancers. Instead of taking on the cost of hiring local, full-time employees, you can generally find web designers, writers, web application developers, and video editors online for a fraction of the cost. Some good websites to consider are Elance, Guru, oDesk, and Fiverr.
How Thinking Globally Helped My Business
If you still question whether a small business can succeed by thinking globally, consider my business. My online information business began about eight years ago and has been reaching a global audience since the very beginning.
Since we are Internet-based, our costs are low, our model is scalable, and our low overhead requirements allowed us to begin the business with very little capital. This flexible business model is allowing us to expand into a new industry without completely overhauling our business.
By targeting a global audience and drawing on resources online, we are able to seamlessly launch new products and services that will make the business relevant and profitable in the long run.
Donâ€™t limit your businessâ€™s success by focusing on just a regional or national audience. If you truly want to succeed in the global market, broaden your focus from the beginning and use online resources to reach new markets. Your business may still start small, but the possibilities will be truly endless.
About the Author: Ken Oboh is the co-founder of REMIX.com and UMIX.com, two revolutionary music sites that give users the power to be their own DJs. Ken is a serial entrepreneur in the entertainment industry.