Think Globally, Act Locally

The Internet, inexpensive technology, and communications services are radically changing the marketplace faster than anyone can imagine, “flatting the world” as Friedman states.

This is good news for US SMBs. These trends play into our strengths. Empowered with this perspective it is important to do three things:

First, gain knowledge and understand -- Take the mystery away from the global marketplace. How is the global economy relevant to your business in your region, in your industry? The important shift in your perspective is to understand that it is about becoming globally competitive. SMB owners are overwhelmed with negative news coverage of globalization and the sole focus on exporting by many institutions. Therefore they procrastinate. They will deal with the global economy, “tomorrow”, once they are confronted with an international challenge that finally threatens their status quo.

That is too late. But businesses take this reactive, passive, approach because they have been told to “Go Global” requires spending significant money and taking on new initiatives in distant places. If they realized that they can stay local, but be globally competitive, an important shift in perspective occurs.