By Craig Hudson from Xero Blog.
Working with small businesses throughout the world, I’ve come to realise the world we live and work in is much smaller than we think. Speaking at Xerocon 2017 in Melbourne I shared my thoughts on how small businesses are operating globally with the big advancements in technology and connectivity.
People everywhere are currently experiencing the golden age of business as technology adoption sweeps the world. The development of cloud technology in particular is giving people and businesses the ability to access amazing computing power. Gone are the days when you had to be an IT expert to know how to reap the benefits of being on the cloud.
Technology is changing the way people connect and do business. In today’s world, global communities form and shift with ease. The tyranny of distance is no longer relevant and businesses can operate anywhere thanks for the connectivity that technology enables.
Perhaps the biggest shift of our time is the rise of the global platforms. Platforms are beating old-fashioned business models by building new growth markets and innovating communities beyond the boundaries of their central hubs.
For small businesses, leveraging connections through global platforms can be advantageous in accessing new markets and customers. It’s no longer about selling to the local village, town, city or country. It’s about selling to customers who could be anywhere in the world – they just might not know about your business yet.
Many of us already use Facebook, Google, Amazon and Uber and many others use global platforms like WeChat and Alibaba, giants in comparison.
What these global platforms do is make it easy for businesses to connect and unlock new opportunities. Geography is less of an obstacle, relationships built and maintained online. Becoming connected to these platforms also builds communities and a sense of belonging.
The success of some of our Xero customers in developing relationships with overseas organisations shows that geographical location is no longer a barrier to success. In fact, a good attitude – along with willingness to tap into global assets, and an internationally-focused business mindset – is now more important than location.
Becoming an entrepreneur or small business owner means dedicating a huge amount of your time and energy into your passion. No one will ever promise you that it will be easy, but thanks to today’s modern world, it’s now easier than it ever has been. With internet accessibility on the rise globally and technology improving how you manage your day-to-day, there’s never been a better time for small businesses to take advantage of the shrinking global marketplace.