5 Reasons to Boost your Creative Businesses with Global Teams in 2003

If you embrace the perks and challenges of running your own creative small business, perhaps you've been thinking about building a team that can help you drive your value proposition. From employees to contractors, or freelancers, teams come in all shapes, forms, and levels of commitment.

In an era of consolidations, big companies are absorbing the small ones to grow and expand. According to Morgan Stanley (2023), M&As may see an explosive return of activity. However, there is another layer where I envision a future: with the current economic conditions, recent laid-offs and the increasing growth of the gig economy, small businesses with excellent professionals (perhaps from the big ones) getting together in collaboration-based systems. So, if you're a great lawyer, why not partner with an outstanding business pro in a consulting gig? And what if you count on an international pool of global professionals you can collaborate with on request? In fact, a McKinsey report (2023) highlights that collaborative ecosystems are becoming a key factor in modern businesses as they drive innovation and growth.

I envision a future of small businesses with excellent professionals (perhaps from the big ones) getting together in collaboration-based systems.

Seizing the Content Era: Rapid, High-Value Deliverables

The modern era is characterised by rapid, easily digestible, and disposable online content. Clients often lack the budget, resources, or time to liaise with multiple specialists, opting instead for integrated services that deliver diverse content consistently.

Our creative small business exemplifies integration, handling varied projects ranging from online campaigns to big rebrandings and event coverages. Assembling a global team of specialists has come with challenges but also with unthinkable benefits for me, our business, and our clients.

Deloitte (2022) found that 75% of companies believe using external talent is a competitive advantage, enabling access to specialised skills and improving flexibility in responding to market demands. You can focus on building an integrated team for content generation to handle various content requirements. Assemble a global team to respond to clients' diverse needs more efficiently. Continuously improve your team's skills to stay competitive in the content era.

Mastering Cost Control: Boost Profitability with a Global Network

Small business owners are responsible for the financial well-being of their businesses and employees. Managing costs and maintaining profitability can be challenging, especially during lean months.

By building an international pool of specialists, we've been able to keep our costs under control, increase our margins, and contribute to the well-being of our partners. It took patience to explore, test, and nurture a team of contractors, but the results have been worth it.

Explore and test potential team members to find the right fit for your business. Utilise freelancers and contractors for strategic outsourcing to control costs and maintain flexibility. Build a network of specialists to tap into when specific skills are required. According to KPMG (2022), 43% of CEOs consider cost management a top priority, and effective outsourcing strategies can help achieve this goal.

Time Efficiencies: Harnessing Global Expertise for Round-the-Clock Progress

Time is a limited resource, and managing it well is critical for meeting deadlines and ensuring client satisfaction.

Our global team includes specialists from Armenia, Poland, Ukraine, and more, which has allowed us to leverage time differences to our advantage. The satisfaction of starting your day in Sydney with work progressed overnight is priceless and often makes us look exceptionally efficient.

The satisfaction of starting your day in Sydney with work progressed overnight is priceless and often makes us look exceptionally efficient.

Account for time differences when building your global team and utilise them to your advantage. Consider faster response times from professionals in your region for time-sensitive tasks. For tasks that take longer, such as development and video editing, capitalise on day-night time differences to make progress. McKinsey (2023) suggests that leveraging global teams can help businesses optimise their operations and better manage resources, leading to improved efficiency.

Unleashing Creativity: Diverse Minds, Innovative Results

Generating innovative ideas and solutions can be time-consuming and challenging, especially when the market is flooded with content.

We encourage our team to participate in idea generation and nurture spaces for collaboration and discussion. Involving people from diverse backgrounds and experiences has been incredibly stimulating and beneficial for idea generation and value creation, ultimately benefiting us, our clients, and the final results.

If you want to excel in generating ideas with your global team, foster open lines of communication and create spaces that encourage collaboration and idea generation among your team members. Accenture research (2022) shows that diverse teams are 6 times more likely to be innovative and agile than non-diverse teams. Embrace the diverse backgrounds of your team and capitalise on their unique perspectives.

Expanded Offerings: Unlock New Opportunities with a Global Talent Pool

Small businesses often face limitations in their service offerings, which can hinder growth opportunities.

Building a global team has allowed us to expand our core competencies, open new revenue streams, and broaden our portfolio of satisfied clients.

Utilise your global team to expand your current offerings and augment your core competencies. Be open to new opportunities and consider partnering with local resources when necessary. Deloitte (2022)  indicates that 40% of organisations are now leveraging the gig economy to tap into specialised skills, which can help expand service offerings and drive growth.

In conclusion, building a global team in your creative small business can lead to numerous benefits, including improved content delivery, cost control, time efficiency, enhanced creativity, and an expanded service offering. Embracing the diverse skills and experiences of a global team can help you stay competitive and drive growth in today's fast-paced business environment.