GARAGE TO GLOBAL

I first heard this statement made in a TV commercial for an investment bank here in the U.S, “We help transform companies from garage to global”. This prompted me to ask myself the question; “How does a company transform from a garage company to a global company?” Over the coming weeks I will be focusing on factors that will help transform your business from a garage to a global company, this first post is a bit skeletal but I promise to improve on this and give you more insights and in-depth analysis that will help us become better leaders and businessmen in our different endeavors.

We all start here (Larry Page and Sergey Brin in the Garage)

And all want to get here (Google Headquarters in Mountain View California)

 

Becoming a global business involves a lot of process, a lot of trial and error, going through different iterative phases of business models. Before you get to the garage there are steps you first need to take to be certain of the viability of your idea/product/service. I Have highlighted some of these steps below:

1.    Validate your Idea (Ask question, create a survey, Research, Prototype and Test)
2.    Create a brand identity/Brand yourself
3.    Create a Unique Value Proposition (Business Models and Business Development)
4.    Marketing and Advertising
5.    Management Team (Leadership, Structure)

These are some of the few factors distinguishes a business, in these series, my main focus would be on the branding, marketing and advertising aspects a company’s  development into a global entity.

VALIDATE YOUR IDEA: 
So eureka, you've found this wonderful idea that came to you whilst bathing. Good for you! Now before you rush and start pouring your money with that of your loved ones on this seemingly great idea. You need to validate the idea to know its viability in the market; validating your idea entails you asking relevant questions from people you trust and value their opinions, and writing down their advice and feedback.

Asking yourself cogent questions such as, Will I use this product? What problem does this product/service solve? Will I pay for this product/service? One important way of validating your idea is carrying out a survey, because your friends may not want to hurt your feelings, hence only give you positive feedback, but by carrying out a survey using a well-planned out questionnaire you'll be able to get feedback from different users, arming yourself with a relevant data to make a better cognitive decision.

So you've validated your idea, and you've concluded from your research that it’s a viable product or service and you've built a prototype, tested it and everything is looking great and you are ready to launch.

• BUT WAIT DO YOU HAVE A BRAND AND BRAND IDENTITY?
• DO YOU KNOW THE DEMOGRAPHICS OF YOUR TARGET AUDIENCE?
• WHAT IF A COMPETING IDEA/SERVICE SPRINGS UP, CAN YOUR BUSINESS MODEL BEAT THEIRS, TO ACHIEVE TOMA (Top of Mind Awareness)?
• WHAT IS YOUR UNIQUE VALUE PROPOSITION?

Which leads to my next point of building a brand, in my subsequent post I will discuss the power of a brand and what brand equity is, but for now let’s go into the basics of creating a brand around your business and idea.

 

CREATE A BRAND IDENTITY/BRAND YOURSELF: 
The brand identity of a brand consist of the brand, Identity and Logo.

• Brand: the marketing-dictionary.org defines a brand as a "name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers." In short form a brand is the public image of a business, production or individual.
• Identity: visual aspects that form part of the overall brand.
• Logo: A graphic design that is used as a continuing symbol for a company, organization, or brand. It is often in the form of an adaptation of the company name or brand name or used in conjunction with the name.

Creating a unique brand is essential to the success of your business, a distinct brand identity, whose core values, vision, mission and unique value proposition are will communicated to your target audience, consumers, customers and clients will help distinguish your company from other companies especially companies with competing product/service.

We would rest here for today, and continue the journey to global dominance in my next article where I will focus on creating your UVP (Unique Value Proposition) and Business models that are flexible and adaptable to different business environment and government policies. 

Fashola Ayodeji 
Bizlead WriterEmail: dejifash@nd-interacktiv.com
Twitter: @fashfc      

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