4 Tips for Running a Small Business on a Global Scale

To say it’s been a tough year for small businesses would be an understatement. Forced closures brought on by the pandemic left millions of small business operators really hurting financially, with many having no choice but to close their doors permanently.

Fortunately, things are starting to look up as we transition into a post-COVID world. According to SmallBizTrends, more than 57% of small businesses were fully reopened as of last month. And because of lessons learned during the pandemic and enhanced tools we now have to help accelerate business growth on a larger scale than ever before, I’d argue small businesses are poised to rebound quickly and effectively throughout the remainder of this year.

With over 25 years of experience as a business leader in technology and multi-unit business environments, I’ve learned a thing or two about managing small businesses with global ambitions. This month, Intelivideo was awarded the Denver Business Journal’s 2021 Small Business Award in the medium category. And while my relatively small team of 30+ employees operates out of Denver, we have worked hard to develop a broad reach and serve clients around the world.

Intelivideo is proof that small businesses can make big waves. I’ve learned that if you want your voice to be heard around the world, you don’t necessarily need to double your workforce. What you need is a solid strategy and a good amplifier. With that in mind, I’m sharing the four small business strategies we used to achieve a global reach at Intelivideo. Following these guidelines will help small business operators not only get their companies up and running again, but will also lead to new growth opportunities that will help them recoup from the losses of 2020.

#1 Make Your Mission Clear

Take the time to define your mission, vision, and values as a company. Your vision states how you hope your company will impact the world. Your mission states what you’re doing today to get there. Your values are ethical guardrails.

Defining your mission, vision, and values as a company has a multitude of benefits. For starters, they unite your team with a common goal and give them a reason to come to work beyond a paycheck. They’re also a recruitment tool, allowing you to surround yourself with employees that believe in your mission and will be passionate about their roles.

Last, but certainly not least, this gives you an ultimate bullseye to help you set goals and develop strategies to achieve them. Is your vision lofty? Good. You will have room to continually improve. Don’t be afraid to fail quickly — and often — and to pivot in order to accomplish success. Continual improvement is the name of the game.

#2 Understand Your Markets

As you might expect, a “one-size-fits-all” approach doesn’t work on a global scale. Instead, spend some time truly getting to know the economy and competitive landscape in each of your markets. Don’t skimp on research and be prepared to modify and change your strategy based on each of your markets. Remember that what resonates for one geographic audience won’t necessarily resonate for another.

#3 Leverage Your Network

Small businesses in the 21st century can be very well-connected. Use this to your advantage. Leverage social media and forums to connect with industry leaders and potential customers you admire. Following their social media feeds is a good start, but you’ll get the most bang for your buck with real conversations. Ask them about their experiences, growing pains, and lessons learned. When the moment is right, don’t be afraid to ask for a helping hand to aid your brand awareness.

Case in point: The CEO of a growing fitness brand in Singapore found me via one of my LinkedIn posts last fall. He commented on it and then connected with me directly, leading us to exchange a number of emails and video calls in the following months. Now, five months later, we are in the middle of launching his company on the Intelivideo platform. This is a new customer we never would have cold-called or even considered a prospect from our home base in Denver, but the power of the LinkedIn network helped make this international deal happen.

#4 Stay Top-of-Mind

A small company with a big presence will outpace a big company with a small presence any day of the week. Positioning your brand as a leader in its industry takes more than just sales. It takes leadership — category leadership. So, get loud and expand your presence with these cost-effective tools:

• Attend and sponsor industry trade events;
• Regularly post on social media to share the most popular platforms for your industry;
• Publish thought leadership articles in trade publications;
• Host webinars;
• And follow SEO best practices for your website, continually updating your blog to improve your search engine ranking

We Live In Extraordinary Times

The majority of the most powerful tools in your toolbox as a small business owner are virtually free, so reach out and grab them! Remember: stand by your mission, understand your market, and leverage your ‘amplifiers’, and your voice will be heard around the world.