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what does it take for a business to go global and be a big brand?

#business #entrepreneur #business-management #management #small-business

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Michael’s Answer

There are a few keys to going global, which a few prior answers have touched upon. First is the product. It must be a product whose appeal transcends national, gender, cultural and ethnic boundaries. Second is the branding. Many great products will go unnoticed without proper marketing, and branding takes it one step further. With branding you're not just showing your product, you're creating a desirable image in the minds of your target audience. Finally, good execution is key to global success. Many very smart people with great ideas have failed to grow their business because they didn't invest in infrastructure, have a corporate strategy, build to scale the business, etc.
Thank you comment icon Michael, Great points about product and appeal and the connection to proper marketing. Thank you for sharing. Melisa Cameron
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Melisa’s Answer

Shaniyah,

Great question. I went to college and worked several years in Michigan (Ann Arbor area). One of my favorite stories of a business starting small and going global is Domino's Pizza - that originated in Michigan.

If you haven't yet heard about Tom Monaghan, "Pizza Tiger" it's worth a read and an interesting story. His strength, boldness and even learning from failures lead to an eventual global brand that is still thriving today.

I had the pleasure of working for Domino's and Mr. Monaghan decades ago, at the headquarters in Ann Arbor. The lessons I took from working for this company and witnessing the tremendous growth and changes that come with becoming a big brand are something I'll always remember.

Leadership can also play a big part in business success. I think having an ability to stick to a solid plan while also remaining open to new ideas, learning from failures, treating others with respect and leading with humility are things that I've seen in successful leaders of big brands.

And great points by others about product, marketing and branding. If you can combine these with great leadership strategies, it can lead to much success.

I also feel it's important to really know the companies I support. What do they stand for? What are they doing to make a global impact? After all, it's not just about profitability. These days, global brands need to be accountable for their actions and be good corporate citizens. I really love hearing about what big brands are doing for others too in our world.

Best wishes to you in your educational and career goals.

Melisa recommends the following next steps:

You can learn more about Tom Monaghan here https://www.thebalancesmb.com/tom-monaghan-biography-1350964
Visit the company sites of global brands that interest you.
Check out more information about AT&T and find student resources here https://connect.att.jobs/students
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GABE’s Answer

Your product has to solve the needs of a consumer that is not bound by geography, religion, race, or gender.

I would focus on starting with something you are passionate about, then look at what problem is not being solved. Then focus on how you would solve it. Test your product, ask for feedback, keep improving. Very very very few people get rich by doing something they hated.
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Wayne’s Answer

Hi Shaniyah. For a business to achieve any kind of success it takes a lot of hard work and dedication. I highly recommend doing some research about brands like Amazon, Apple, Coca-Cola and McDonald’s to see how those brands became successful global brands. Their stories may give you some insight.

Good luck!
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Anthony’s Answer

To add on to the answer given by Wayne:

Shaniyah,

Market penetration and Market development strategies is how companies like the ones listed by Wayne, became very successful. In addition, the way they brand their products as well.

Example: Coca Cola is known to be very successful with their products, which includes a variety of different types of drinks. However, their success also comes from their branding. They don't think of Coke as a drink in a bottle, but happiness in a bottle.


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Greg’s Answer

To be a global brand you need to provide a service / product that benefits and meets clients needs across a universal market. That doesn't mean one size fits all. For example, some global fast food or beverage companies may customize their products to meet a regional taste or palate. However, the overall service experience or quality is comparable there can be some differences. There are some brands (i.e. fashion / design) that do have global appeal across many regions.
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Digant’s Answer

Hello Shaniyah,

The best way to be global is to sell the product that has is demand across all regions. If there is a need of what you are selling (Product/services) with a decent branding you can go global very quickly.

Also remembers there are so many things that buyers don't know they need, until they do. A good example is Amazon services, or a simple example is a phone, we never know we needed it until we started using it.

Digant recommends the following next steps:

Find an umbrella of product/services in a similar region based on market Demand.
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