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Business Plans

All Aboard..........Everyone Going Global!

By Ryan M. Hoback, Motivated Entrepreneur Incuabtion & Consulting

In today’s society we move at an incredibly fast pace and with this fast pace comes a continually evolving environment. When we consider wide-spread integration of high level technology globally, best may be yet to come. There are numerous reasons why we may want to consider expanding our operations globally; increased sales, access to new resources and markets, and potential productivity cost efficiency improvements. As world continues to grow, new businesses will continue to be created; these businesses are being created by new breeds of entrepreneurs. These entrepreneurs were born into a world of global business, they see opportunities and they are not afraid to step forward.

Let’s talk about how we can move forward, let’s talk about resources for a minute. Companies need certain resources to carry out their business activities, this creates a situation where they must constantly monitor and take into consideration cost of acquiring these needs. In order to keep total product cost levels acceptable, certain built in monitors must be developed. However if there is a more cost efficient and high-quality production option, it should be considered. This is happening around world now globally, some throw word “outsourcing” around, and others say they are merging business communities. Regardless, it has created all sorts of new business angles and opportunities for growth and expansion into new markets.

Since cultures, politics, economics, and laws are not same in all countries, there can be different barriers to entry in certain regions. We must rely on research based upon local demographic & economics of region, and conduct our analysis accordingly. Some barriers may be modifications of products/services for local preferences. In addition, cultural elements play a large role in determining what products are appealing and accepted amongst local target market.

Suppose that you as a manager have been asked to form a team for life of a particular project. How should you set about choosing your people and forming them into a well functioning group?

Selecting your team.

Take care to choose right people. Pick them for their skills and abilities as they apply to your particular project. You don’t necessarily need person most qualified in absolute terms, but you need person most qualified for your specific project. Concentrate on skills you need for job in hand. Don’t be seduced by reams of paper qualifications that you will never need.

You almost certainly need a mixture of team members each with a different set of skills and abilities, rather than a series of clones all with identical skills. Ensure that taken as a group they together represent all skills you need in proportions that you need them.

Don’t overlook need to choose people who can all get along with each other and work together as a team. A group of prima donnas is last thing you want.

Set tone and ground rules.

Do this at your very first team meeting. Make sure that you call this at very start of your project and that everyone in your team comes to meeting. Don’t be late yourself and don’t allow lateness in others.

This is meeting where you have to make it clear who is in charge and what you expect from your team. This is where team hierarchies and reporting structures are restated. This is time to remove any ambiguities or potential conflicts. Make sure everyone is clear about his role and responsibilities. Delegate tasks as appropriate and make it clear who hold delegated authority.

Setting clear goals.