Why must entrepreneurs learn to think globally?

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readerofbooks eNotes educator| Certified Educator

Not all entrepreneurs have to think globally. In fact, if an entrepreneur is not well educated about the world and his or her business is not suited for a global market, then it is probably best not to think globally. However, if a person has a business that can go global, there are many benefits.

First, if you open yourself up to a global market, then you have a much bigger customer base. In addition in view of the economic hardships in America, it might be a great idea to gain more customers. For many industries, international markets will be the areas of growth.

Second, another great reason to think globally is due to the fact that other nations have more money and this trend will probably not change in the future.

Third, going global can also save money. For instance, if you manufacture in other nations where the cost of living is much less, then you will gain more in profits.