No Excuses: 5 Trends to Track to Grow Your Global Business

Ways to leverage new opportunities that are right around the corner.

A parked sports car
The future of American automobiles. Photo Credit: NiePhotography

You can systematically grow your business (yawn) or you can stop, reflect and think about ways to really leverage opportunities right in front of your face. It’s your choice. Here are some examples of ways to jump in and leverage new opportunities that are right around the corner.

Global Travel

Business travel is a leading indicator of global economic activity. The 2016 Global Travel Price Outlook from the Global Business Travel Association (GBTA) Foundation along with global travel management company Carlson Wagonlit Travel (CWT) found that increased demand for travel to and from India, China, Singapore, Australia, Colombia and Mexico are creating airfare rise increases here amid generally modest upticks globally.

What does this mean? For budget-minded global travelers, this outlook can help drive opportunities and reduce costs to stretch travel dollars further.

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Transportation – Cars

Welcome to a world where transportation, from Uber to Tesla’s electric car (pictured) and Google’s self-driving car, is disrupting everything. The Harvard Business Review says, “It’s easy to foresee that transportation’s future will be very different than its present. But what will that future look like?”

What does that mean? If you’re in the transportation business you better keep your seatbelt on and prepare yourself for a wild ride. If we are at a point where we don’t need to own cars, what should you be doing now to prepare for that future?
  
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Global Payments

With the advent of so many options to make payments and get paid online, it is no surprise that Stripe, the digital (hot darling) payment company, has received a new investment from Visa.

With that latest funding, Stripe is valued at $5 billion, up $1.5 billion in seven months. Venture capitalist Michael Moritz says, “Stripe is at the triple intersection of mobile payments, cross border commerce, outsourcing payments for medium and large companies.” He adds, “The opportunity and the challenge for Stripe will be to be the first truly global Internet company.” Watch for more international expansion from Stripe now that Visa will help it process payments in countries outside the United States.

What does this mean? You should take a look and see whether Stripe makes sense for your business.

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Top Growth Areas for Merchants

We already wrote about this, but it’s worth repeating: If you want to grow your online international business, pay attention to where you should be looking. For example, are you targeting Austria? Yes, you must find out if there is demand in Austria for your product or service offering, but did you know that Austrians are leading the charge globally in cross-border shopping? According to a PayPal and Ipso study, 83 percent of online Austrian consumers shop internationally, followed by Israel (82 percent) and Australia (75 percent).

What does that mean? Even though a market can be big, if consumers don’t have access to the Internet or worse yet have access but don’t like buying online, you will get zero business from that market. So places like Austria are ripe for targeting.

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Scaling Your Business

How do you grow your business smartly? You keep it lean and mean and you scale. For example, what do you do when your customer in the UK triples his order quantity? Is your production ready to ramp up? Is your team ready to roll? Can you access working capital quickly?

What does this mean? Stop stewing and take action. Get your ducks in a row, be ready to take on the world with your business and start scaling.

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Elder Care Worldwide

The Internet has changed the way we connect with people, grow our businesses and bank, for example, and it’s also impacting elder care worldwide.

“As the population ages, adult children are increasingly taxed with taking care of their parents or footing the bill for that care, which can cost thousands of dollars per year. A proven way to reduce the burden is to keep the elderly in their homes longer, and that's where technology is coming into play,” says Donna Fuscaldo of BankRate.com.  

What does that mean? If you are in the home-care industry, great – start looking for ways to capitalize on how you can help the aging have a better quality of life.

What will it be? A new product for the elderly that makes showering so much easier and safer? Or perhaps a new line of wearable devices that keeps the elderly safe and makes them feel on the cutting edge of technology and fashion?  

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