Many will say that the wealth of resources we have in the United States has allowed this country to step to the forefront of new product development.
They speak of the financial, educational, and natural resources found in the U.S. in abundance as the reason for our world leadership.
When you think about the young age of this country (240 years) compared to other geographically large countries throughout the world, it’s quite amazing that the U.S. has taken such a leadership role.
According to a recently released study, over 50 percent of U.S. annual GDP growth (gross domestic product) can be attributed to increases in our innovation. Amazing!
For the past century, at least, the U.S. has been the world leader in developing innovative products and services.
It is our ability to generate new knowledge and scientific innovation and apply it to commercial products that has allowed us to become the world’s greatest and most productive economic engine.
These products and the services that surround them have allowed the citizens of the U.S. to maintain a standard and style of living that is mostly the envy of the world.
Sure, there is a lot of global criticism pointed at the political and social structure in America that dominates world headlines these days.
But you don’t see masses of U.S. citizens lining up at the borders trying to get out of this country.
Just the opposite reaction is taking place – immigrants lining up trying to come in to the U.S. in droves (legally and otherwise).
Our country has been built on the free enterprise system that allows both diversification of ideas, businesses, and products as well as differentiation at the lowest niche level.
Companies have learned to compete profitably by offering products and services that are both innovative and have a unique competitive advantage.
Other countries are catching on quickly.
The U.S. is no longer the world leader in some sectors that it previously dominated.
As a small business owner, you have both the opportunity and the responsibility to position your company, products, and services in ways that will allow them to remain successful by being unique and of great value for the money.
And of course, it doesn’t matter where you’re located – many international companies do the majority of their business here in the United States.
The point of all this, of course, is not to suggest that the U.S. has a monopoly on resources, intelligence, know-how, or good luck. People everywhere around the globe are finding ways to put their minds and ideas to work for better products and services. They are creating new and exciting businesses that will become the headlines of tomorrow.
Entrepreneurism has no physical boundaries or limitations. We truly are all a part of a global economy.
To your online business success!