In the twenty-first century, the new global economy has changed the world of business in a profound and indelible manner. Trade liberalization, privatization and globalization - the trio has transformed every aspect of modern life. Advancement in information technology and communication has further speed up the process making geography and time irrelevant. Economy, society, educational system and political landscape - everything has been changed - and business as well.

The widespread internationalization of all forms of economic activity - production, marketing, consumption, capital, standards, tastes, etc. - has stimulated fierce competition in the twenty-first century business world. Businesses, especially SMEs (small and medium scale enterprises) with their limited budget, have faced today a fight-for your-life situation where ignoring globalization just means bringing their businesses on the verge of extinction.

So, we have to fight back. In this brave new global economy, we have to develop an international mindset which is the heartbeat of the new economy. We have to develop a new business strategy, articulate a pragmatic vision, exercise effective leadership and do everything which are pre-requisites for success in the new global economy. We have to realize that the world is our market.

And the new global economy is not only about challenges. It offers unlimited export opportunities for entrepreneurs and small businesses. Going global increases sales, raise profitability, insulate seasonal domestic sales and create wealth and job. Then why most of the small businesses hesitate to go global? It is often because they cannot fully realize their potential for global trade. They think that the global market is too big and too complicated.

Of course, operating a business at the international level is not as easy as doing business in one's own backyard. But it is very possible and there are so many examples of SMEs which have successfully gone global despite their limited resources. What one needs to take this big leap is acquire proper entrepreneurial abilities, skills, competencies & perspectives, and, needless to say, guts.

What you need to be a successful global player

You require some commitments to be a successful global player-

• Enjoy challenges: The global market is not bed of roses - it is full of challenges and rapidly changing. You must adapt yourself to them and identify the opportunities.
• Improve yourself: As the global market is fiercely competitive, you must seek to always improve your products and services, marketing strategies, promotional and advertising tactics, etc. 
• Be ready to welcome new: Different international markets operate in different ways, they are influenced by different cultures. You must be adaptable to succeed in such new business environments.
• Be patient: To succeed in business at the international level, you need to be aggressive but you must also know to know how and when to slow down. Negotiate carefully.
• Market research and business trip: Before steeping into a unknown market, do in-depth market research and plan your strategy accordingly. It is always advisable to travel the country so that you can have a better idea of the people, their tastes, the market trends, etc.
• Relationship is as important as the deal: While dealing with a client, do not just try to finish the discussion and bag the contract. A good relationship can fetch you much more in the future than the present deal.
• Be active: Never sit back and wait for things to happen. Make prompt decision and act quickly. Hone in on details, make plans and implement them quickly. 
• Work as a team, be a leader: Allocate the right job for the right person, make your employees think that they are a inseparable part of the project, and lead from the front providing direction, encouragement and vision to the team.
• Be courageous: Most of the businesses fail not because they lack resources or anything else but mainly due to an inner fear to fail. So, be courageous -  stay true to your vision and mission and the world would be yours.