At some point in the self-owned business timeline, an entrepreneur will inevitably face the question of whether or not to jump in the deep end and go global. Some entrepreneurs, like myself and the photography business I started, don’t necessarily have the means or desire. I want to stick with my local market. Others, however, especially businesses who provide a tangible product rather than a service, could easily stretch their boundaries beyond the shining seas.

Why Not?
To some these may be excuses, to others, legitimate reasons to evade a risky venture:

• Language barriers.
• You may be unfamiliar with cultural practices and etiquette.
• You may be unfamiliar with local law and politics.
• Limitations of foreign labor laws.
• Time consuming and complex.
• Difficult to find a partner you can trust.

Why?
A list of reasons to overlook the risks in order to help your business grow:

• 95% of the worlds’ consumers reside outside the U.S. (according to the Office of the U.S. Trade Representative) - those are all potential new customers!
• Possible untapped market.
• Because if you don’t, your competition will.
• You don’t have to actually move overseas to do business there - the internet is your gateway to expansion.
• The risk, reward and challenge are appealing.

Whatever side you teeter toward, remember that going global doesn’t have to be a “right now” sort of thing. It’s always a possibility that you should consider, simply because you’re a business owner. If you are considering such an expansion, then there is a lot of work to be done before you begin. Be sure to check back the rest of the week as we continue discussing Expanding Your Business Overseas.

Pt. 2: Labor Laws
Pt. 3: Protecting Your Product
Pt. 4: Money and Taxes

Source:
• Inc.com: Gone Global (Inc. Magazine April 2007 cover story)

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Among the ever popular forms of marketing such as TV and radio ads, billboards, fliers and business cards, e-mail is another popular way to stay connected with current and future consumers. But how do you establish an e-mail list that won’t “spam” your incoming messages? And how do you keep people on that list?

List Sign-up
The best way to establish and keep a successful e-mail marketing list is to offer a list sign-up on your website and other marketing materials. That way, people who are interested in your product and special offers, and who want to hear about them, will be the recipients of your e-mails, which will help to keep them from being marked spam.

Continue reading : Getting the Most Out of E-Mail Marketing »

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In the words of Donald Trump, “You’re Fired!” As a small business owner with employees there may come a time when you have to terminate someone’s income stream. It’s that dreaded day that some of us hope will never come.

If and when the firing time comes, be prepared by following these 9 steps:

1) Check your past feedback.
What are your relations with this employee? If on decent terms don’t fire immediately, rather, give them time for change under a new way of doing things to your standards.

2) Give them a warning.
Give the employee an ultimatum to change, else risk loosing their job. 30 days is a fair time span for change.

3) Focus on specific behavior goals.
What do you want them to change about their performance? Be prepared for your meeting with the worker to discuss the issues and ways to fix them.

Continue reading : How to Fire an Employee »

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