For years we have been hearing the effects of globalization to our ways of living.
The term globalization was used mostly to predict and explain how companies would move products and services throughout the world. This movement was mostly fueled by the opportunities of emerging markets presented in terms of market size and cheaper labor.
Technology and its latest developments provided another significant boost to globalization. It is hard to imagine having to go thru the process of a single business transaction without the connectivity and ubiquity we now have with technology.
All these have lead to the changes in the mindset of businesses around the world. Not too long ago, a company would be proud to define itself as a multinational corporation. Nowadays, they prefer to be called global corporations which magnifies the reach they have attained.
But how about us? Is there such a thing as a global citizen? There sure is!!
Some of us have multiple nationalities either because our ancestors came from another country or because we are immigrants ourselves. Most of us have a friend or groups of friends from other parts of the world. As a result, we are aware and care more about the issues and events that occur beyond the limits of our home countries. So, we are becoming global citizens.
Furthermore, as global citizens we are also becoming global entrepreneurs. Many business ideas some of us want to pursue, can also be developed having in mind how they would be received worldwide. Many governments, in the search to pursue foreign investments, have eased the requirements and processes to provide permanent resident status to fearing investors.
For years corporations and regular people like us have, time after time, made bold errors that globalization makes hard to forget. Companies like IKEA, the furniture global giant once launch a desk “FARTFULL”. You can see how this is wrong even if you know just a bit of English.
However, most of us do not have the luck and strength of IKEA. An error of this magnitude could sink any idea of ours even before it starts. Therefore, whatever we do as an individual or as a member of a group of a corporation, should have a globalization check.
What to do next?
According to Daniel Isenberg, “start-ups now do business in many countries before dominating their home markets”1. Furthermore, Isenberg points that “successful entrepreneurs are clear in their purpose, strike alliances from positions of weakness, are able to manage global supply chains, and can establish multinational organizations from the outset”1.
It is essential for you and your business idea to accurately address the issues raised by Isenberg. This all starts with the necessity of preparing a solid and structured business plan. It is almost a fact that you business will be successful if you provide answers to these issues in your business plan. There are hundreds if not thousands of stories to prove it!
So, get up and go. Start developing your business idea thinking globally!
Do not be afraid… As an entrepreneur, you are in a great position to take advantage of this new globalized world. Your business nowadays can be located pretty much everywhere and be able to reach markets around the planet.
 The Global Entrepreneur. Daniel Isenberg. Harvard Business Review. December 2008.