Is Small Business Your Big Break?: The Pros and Cons of Staying Local vs. Expanding Globally

25 November 2021

The idea of expanding globally is enticing for any growth-hungry entrepreneur, but it’s also been said that good things come in small packages.

It’s crucial to weigh the benefits of staying local vs. expanding globally so you can make an educated decision about what’s best for your business.

Expanding your business globally

One big advantage that comes with taking on an international market is the ability to tap into a larger consumer base. There are many potential customers around the world who you can reach if your business has an international presence.

One of the easiest ways to establish your business presence in international markets is to use a virtual office service like iPostal1. It allows you to immediately create a professional presence in any market where you want to plant your flag. The virtual office can intercept mail on your behalf as well as give you a local phone and fax number, so you can manage your new expansion from the comforts of home.

Another benefit of expanding globally is the ability to gain access to a new pool of talent. You can hire employees from all over the world if your business reaches international customers. You’ll also gain the ability to find suppliers worldwide that meet any requirements you may have around cost or availability.

The downsides for this type of expansion are that marketing can become a lot more complex, and employees may be scattered across time zones, making labor-management difficult.

Keeping your business local

The first benefit of keeping your business local is that you can provide better customer service. You’re able to respond more quickly and efficiently than if you had customers around the world.

Another advantage is having all of your employees in one place. The team can schedule meetings and solve problems faster than if you had to navigate around time zones and remote work. Often, the result is that you can innovate more quickly than if your employees were working remotely.

The final benefit of keeping your business local is that marketing remains simple. You can use the home-field advantage to cater marketing efforts to your community.

The downfall here is that you will reach a limit to how much the company can grow, and your team may not be as diverse.

How to expand your business internationally

The first step is determining the resources you need for expanding globally. Make sure you have enough capital and employees qualified to take on international markets.

It’s essential to determine how you’re going to reach these new customers. You can do that by creating a marketing plan for both your home country and the international markets you want to expand into, including a new search-engine-optimized website.

You should also develop a plan for how you’re going to handle any legal issues that may arise, such as taxes or regulations. Make sure you hire an accountant with experience pertaining to the local laws in each market.

Wrap up

Now that you have seen a comparison of remaining local vs. expanding internationally, it’s decision time. Take your time and make sure your final decision makes the most sense based on where your business sits currently.

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Ariana Smith

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

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Factory Automation and Why It Has Been a Cause for Major Job Security Concerns

Automation has been the source of concern for centuries, from the 16th-century mechanization of stockings production to the 19th-century industrial revolution that led to the UK’s textile riots. From the late 20th-century automation of car manufacturing to the 21st century, worries that Artificial Intelligence will eventually take up our jobs. Job security is an issue that brings forth conflict among manual laborers—resulting from the automation of repetitive manual tasks. Automation has replaced many jobs over the years but has also given rise to other specializations in industries. Major manufacturers have employed robots to level with consumer demands because they are efficient and fast in task completion while playing a massive role in keeping these businesses highly competitive. To provide a clear understanding of the impact automation has had in industries, let’s dive deeper into the jobs’ technicalities in these places. Automation by Job Type- Robots execute blue-collar jobs faster and more efficiently than the human workforce, an effect that has highly optimized the production process. However, jobs requiring intuition and creativity, such as product design, and artistry require empathy, making them reserved for the human workforce. The human workforce also retains jobs that appreciate soft skills, such as effective communication, collaboration, leadership, and a problem-solving mindset. That being an overview of the automation effect, let’s dive deeper into factory-related jobs and how automation has affected them. Creative Jobs: These jobs require a human eye and mind and combine procedural tasking with intuition in their execution. While proper product design does require a certain level of technical know-how, it also asks for a deeper understanding of why people like the look and feel of these products. In manufacturing industries, designing products may require a focus on the technical application of the product and cater to the look and feel of these products. An API valve manufacturer, for example, may decide to automate the production of the product. However, to tailor for customers that care for factory aesthetics, they require a human understanding of the design process. Automation can play a role in tasks such as drawing, 3D printing, and data analysis. These artistic job descriptions probably have a higher sense of security than others. Technical Jobs: Following product design is the manufacturing process involving technical activities such as assembling parts to come up with a wholesome product. A car manufacturing factory may implement robotic arms, each responsible for joining parts of a vehicle together, working with more efficiency and speed than a human. After putting together the product, there is a proper packaging requirement in preparation for shipping. A robot performs packaging tasks as they are repetitive and technical. The packaging process does not engage in human creativity; thus, automation is probably the better option for such work. However, in other industries such as food processing, products’ packaging may require customization--a process requiring making phone calls, listening to ideas, and making constant changes to the product’s packaging. We employ automation for the job’s technical and repetitive parts; however, to understand human needs, a human being is needed. Transportation of the products to the expected locations is the final process in manufacturing. We can automate the package addressing systems in preparation for transport. Soon, however, there is a possibility that autonomous vehicles will replace transport drivers. Currently, smaller package delivery employs drones in some parts of the world. Leadership and Collaborative Jobs: Top managerial job descriptions have the least possibility of automation because they require effective coordination, communication, and decision-making. These professionals employ a combination of technical know-how, emotional intelligence, and in some, risk-taking-- we cannot reach a balance through automation. Automation cannot replace these individuals, partially because they might resist losing their jobs since they decide which tasks to automate and which not to automate. The Solution to The Conflict: The fear that automation will eventually take up all jobs exists. To keep the conversation healthy, positive, and practical, we need to educate the masses on what automation means and the types of jobs it can take over. The first step towards education is learning, learning the fear, and learning communication strategies. Understanding communication techniques will ensure that proper education occurs. The second step is the actual training of professionals, which involves educating employees in preparation for the jobs they are to transition to during automation. However, it is essential to note that automating the training process might result in a larger conflict. Partially because we know that resolutions cannot be sufficient when executed by who causes the conflict. The third step is to ensure regular training occurs by providing relevant and up-to-date information and training materials. At first, individuals will be reluctant to change job descriptions, which we can resolve through the previously discussed process. Conclusion: Automation and job security have been and will always conflict.; however, a balance is struck each time it has happened. We currently live in a world with fear of automation from watching various films, such as The Terminator, the Transformers, and others. Some still expect to see a world similar to that in the movies. The reality is that we use robots to perform repetitive tasks that we have complained about for ages. Do not be fearful, instead educate yourselves on automation. Do this with a keen eye on the jobs that seem impossible to automate. All the best. Read Also: 3 Encryption Trends and How They Make Communication More Secure Why Sensors are Essential in Machine Automation Seven Great Reasons to Use a Car Transportation Company

5 Ways to Stand Out In A Crowded Niche: Insights from an Expert

There are a lot of businesses out there. In fact, according to recent data, there are over 28 million businesses in the United States alone. So how do you make sure that your business stands out from a crowded niche? It can be challenging, but it's not impossible. Today, we'll discuss five ways to set yourself apart from the competition and attract more customers to your business using cloud marketplace solutions. Top 5 Worthy Expert Guide To Stand Out In a Crowded Niche 1. Identify the needs of your target audience Any business owner knows that one of the keys to success is understanding the needs and wants of their target audience. After all, if you don't know what your customers are looking for, how can you hope to provide it? Fortunately, there are several ways to get feedback from potential customers. Surveys are a great way to collect data from many people, and social media can be used to reach out to potential customers and gauge their opinion of your products or services. In addition, many companies also use focus groups to get more in-depth feedback from potential customers. No matter what method you use, gathering feedback from your target audience is essential to ensure that your business meets their needs. Related: Which Targeting Option is Best for Influencing Consideration? 2. Research your competition and find a way to differentiate yourself Any successful business owner knows that it's essential to understand who your competition is. After all, if you don't know who you're up against, it's hard to develop strategies for winning over customers. However, simply knowing your competition is not enough. In today's competitive marketplace, businesses need to find ways to stand out in a crowded niche. What makes your business unique? Why should potential customers choose you over your competitors? If you can answer these questions, you'll be well on your way to attracting new customers. By understanding both your competition and what sets your business apart, you'll be in a solid position to succeed. Related: 6 Tips to Help Your Business Stay Ahead of the Competition 3. Create valuable content that is worth sharing In today's digital world, content is king. By creating high-quality, valuable content, you can attract attention to your business and build trust with potential custom bIf your content is shareable, you could see a significant boost in website traffic and social media engagement. Creating great content isn't always easy, but it's worth the effort. When your product is truly useful or interesting to your target audience, you'll be rewarded with their attention and loyalty. If you're not sure where to start, try brainstorming a list of topics that would be helpful or informative to your customers or clients. Once you have a few ideas, you can start writing or recording your content. Remember to keep your audience in mind throughout the process and aim to provide informative and engaging content. With a little effort, you can turn content into a powerful tool for growing your business. Related: How to Get Into Content Marketing 4. Use social media to reach out to the new audience Social media is a powerful tool that can reach out to new audiences and promote your business. To stand out in the crowded niche, you can quickly attract new leads and customers by posting engaging content, participating in relevant conversations, and running target meters. However, it's essential to use social media wisely, as over-exposure can lead to fatigue and alienation. To maximize the impact of your social media campaigns, focus on quality over quantity, genuinely interact with your audience, and be sure to measure your results so that you can continue to improve your efforts. With some planning and effort, you can use social media to effectively reach new markets with cloud marketplace solutions and grow your business. Related: Social Media Usage: Pros And Cons 5. Stay up-to-date with the latest trends and changes in your industry Industries are constantly changing and evolving, so businesses need to stay on top of the latest trends to remain competitive. Customers' needs and wants are continually shifting, so it's crucial to be able to adapt your products or services to meet their changing demands. Plus, keeping up with the latest industry news shows that you're a leader in your field, which can attract more customers by standing out in the crowded niche of your business. There are several ways to stay up-to-date with the latest industry news, such as subscribing to industry publications, attending conferences and trade shows, or following influencers on social media. By taking advantage of these resources, you can ensure that your business is always ahead of the curve. Related: Explore Some Interesting Marketing Trends for Your Business Final Thoughts As any business owner knows, standing out in a crowded marketplace can be challenging. With so many businesses vying for attention, it can be challenging to hear your voice above the noise. However, by following the tips above, you can set yourself apart from the competition and attract more customers to your business. Additionals:Event Management: 5 Tips for Organizing Major Esports EventsThe Lifecycle Of Creative Branding Agency: How To Build A Brand?Looking To Build A Photography Website: Here Is How You Can Build One

What should be there in an ICO Whitepaper? Expert Take

There are a lot of people showing interest in ICOs. Nowadays many startup companies are looking for crowdfunding. ICO is a popular way to perform it. It is important to know how to start an ICO. Its guidelines have already been established and one of the required documents is the white paper. Let’s first understand the white paper. What is a White Paper? White Paper is a fundamental document for any company launching ICO. This document determines the blockchain technology. It contains a detailed description of the architect and user interaction. The document also has information such as anticipated growth, market cap, and technical details such as terms and conditions required for the use of tokens. It also contains the team information, advisors involved, and links to their past projects and Linked In profiles. Without a proper white paper, investors cannot be invited. You should include the entire prerequisite for the investment so that investors know everything. Read also: Substantial Tips On How To Invest Your Money Responsibly Now let see what all things should be there in an ICO whitepaper for the investors to look at before investing in the company. 1. Problem Always start your white paper with the problem as every company starts out with it. You can include current or future problems. Your white paper should have a detailed explanation of this particular problem along with the difficulty coming with it. 2. Propose Solution This has a direct relation to the problem mentioned in the first step. You have to provide step by step detailed solution and the ways to tackle the problem in the first step. In this section, you also have to provide all the solutions to the most common questions investors might ask. 3. Product In this section, you will be explaining your product. As you have provided a solution to the problem and the product is your solution so try to talk about it as much as you can. You will have to explain here the tech specs of the launching product, infrastructure and how will you going to develop this in the long run. You can clearly mention the detailed plan of funds as this directly correlates to the policies of the company. Try to provide the bonus if you have one. This way your investors have the full knowledge of ideas you’re trying to convey. When they understand your solution in a better way, they will try to purchase the funds. This section is extremely important and you have to be realistic about your goals to get the benefits. Providing wrong or less information can harm your reputation as a company. So be truthful and make sure you provide every detail of information as you can for the transparency purpose. 4. The Team This is a second vital aspect of your white paper. You need to introduce your team and the faces behind this project. A good team can bring a lot of investors to your project. It is better to have the team with prior experience. You can include all the details of their past experience in the Linked In profile. You can also showcase the profile of your team to attract the investors to your project. If your team is impressive then people will like to invest the funds for your company. 5. Commercialization This section is related to everything economics. It will decide how your product affects the economy. Marketing the product is crucial as people wish to know how their investment is growing in the future. You should include the roadmap as people who invested want to know how their money is utilized for the development. You must discuss how you will market your project to the public. If you have plans to advertise then you should clearly mention it in this section. You must showcase the value investors get by investing. If they come to know that you aren’t providing any value then they will not invest in the project. 6. Token Issue In this section, you will be distributing tokens. You should mention everything from bonuses, offers, and bounty rewards here. You should hire someone to promote your offering to your social media accounts. Talk about every detail of the token in this section. Remember not to leave any blank information as investors want to hear all the details from you and hate if it comes from other sources. Final words You should disclose every bit of information in your whitepaper if you want your ICO to be successful. If you have some technical details then never hesitate to include the secondary document. Remember not to add any false or modified information. If your investors come to know that you are sugar coating and don’t know about certain facts then you will lose a lot of potential investors. Create your white paper including all the necessary data along with the information mentioned in this post and earn profits for your company.

Is Small Business Your Big Break?: The Pros and Cons of Staying Local vs. Expanding Globally

Expanding your business globally

Keeping your business local

How to expand your business internationally

Wrap up

Choosing The Best Lifting Gantry For Your Factory Needs

What To Think About When Making A Name For Your Business

Tags

Ariana Smith

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

Leave a Reply Cancel reply

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Factory Automation and Why It Has Been a Cause for Major Job Security Concerns

5 Ways to Stand Out In A Crowded Niche: Insights from an Expert

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Is Small Business Your Big Break?: The Pros and Cons of Staying Local vs. Expanding Globally

Expanding your business globally

Keeping your business local

How to expand your business internationally

Wrap up

Share this Article

Choosing The Best Lifting Gantry For Your Factory Needs

What To Think About When Making A Name For Your Business

Tags

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

Leave a Reply Cancel reply

Popular

Follow Us

Recent

Related