Going Global with your Problem!
Going Global with your Solution!
Going Global with your Impact!
Hi there, I am W.E DaCruz! And this article is written to you From the Desk of your Digital Diplomat.
I am always excited about the opportunity to share insights on how to think about taking a local business global. What I have to share today is a consolidation of some meetings, reports and articles that I have attended and written, about that talks about going global with your business:
– Q&A: Intro to Entering Global Markets through Digital Technology,
– 3 Myths About Exporting That’s Stopping You From Going Global International
– False Assumptions About Exporting That’s Stopping Your Expansion Pt. 2
– [REPLAY] SheTrades MENA – Specializing for Growth – How to Scale Your Business Across Borders
They are not copy and paste ideas and principles from a book or a newspaper article, but rather strategies that have helped me and my fellow co-founder of VGC, Naomi Cook, expand out thinking and build a business model that expands across multiple countries.
To be able to identify the problems that affect global economies and global markets, it is logical to equip oneself with knowledge and information regarding global issues. These global issues include, but are notbut not limited to: poverty reduction, global unemployment, natural systems (such as food, water, energy, cities, climate change, and the oceans), and global financial markets.
As it is today, finding solutions related to the Covid-19 pandemic, one might be assured of high chances that one’s solution might be a global solution because Covid-19 is a global pandemic/problem.
When reading about food security, green revolution and climate, you will find out that each of these issues are connected with a specific group of people. In some regions, food insecurity is a major issue than in other regions. An entrepreneur would be wise to isolate these issues in terms of location, the targeted populations, and set of skills and resources that would be required to address this problem.
Looking for challenges and not opportunities is the only way to go in identifying global problems. Watch my free video lesson here on How to Set Global Goals for Your Business.
Lets face it, you cannot be a jack of all traits, especially when it comes to global issues. For instance, when setting up a Foreign Direct Investment (FDI), you will need a lawyer to advise on the Do’s and the Don’ts, a financial analyst to better explain the market trends, and atleast one local counterpart to share with you undocumented experiences (taste, likes, dislikes) of people patterning your product or similar services.
The key principle is to identify all aspects of that business and/or solution and identify the skills that will be required to tackle each aspect of the business. Then bring together a team of trusted and well skilled individuals to support.
One key principle to note is that once you find the solution, make sure you commercialize it. While having the mind to impact the global economy, know and realize that no one will come and fund your idea, unless it is a government project or project by some NGO – for example. As an entrepreneur, find the means of generating income/profit/interests from the idea so that there is interest from other entities.
Here are a few examples of the companies that were setup as a solution to a particular global problem:
Once you get things set up and running, think about expanding the operations to other countries or regions. The key principle to always keep in mind is to have a local partner in the country you want to set up the new operation in. Although it is possible to do it all by yourself, here is why you might need a local partner on the ground. First, the partner will have (or should have) an understanding of the culture, etiquettes, lifestyles of that country and will be able to advise how best to set up the operation. Secondly, if you are not stationed full time in that country, you want to have someone keeping a temperament check on your business and what’s going on in that country.
There is a reason, an obvious one as to why you won’t find the word above anywhere in the dictionary. The point that I am making here is that there is no “Global” without “Technology”. GloboNology is a made up word as a reminder to you that once you decide to go global with your business or solution, then you have to be willing/ know that at some point in time, you will greatly rely on the use of technology.
For instance, you will need customers or any other relevant stakeholder to see your catalog of products and service offerings. You will need customers to purchase online. You will need to ensure trust whereby your customers are able to track their product shipments in many cases.
Helping businesses go global through digital technology and diplomacy is what I do and the vehicle I use to help me achieve that goal is through our work at the VGC Group. We help setup ecommerce systems and build mobile applications for both newly established businesses as well as seasoned organization so that they are able to reach international markets.
If you love what you’ve read, continue reading other articles on various topics or join us inside of VGC University for courses.
