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If your personnel, products, partners and resources are mobilized for overseas expansion, you can overcome the bureaucratic, cultural and economic obstacles outlined in the previous article of this series. Read this one to learn the underlying conditions that foster success.
For this start-up phone company, global expansion was always the founder's goal. Human resources, timing and focus assured its long-distance success. Owning its own networks also enabled it to enter foreign markets without making deals with monopolies.
Creating value at every stage of the process, an entrepreneur rescues stone from sites threatened with destruction and gives it new life elsewhere. To manage multiple languages, locations, currencies and cultures, he relies on the Internet and high-speed telecommunications.
Know the advantages and disadvantages of different arrangements for doing business overseas, and the major legal issues arising from each, before you go global. Then, make sure everyone involved complies with your standards for behavior and performance.
Here is an entrepreneur's guide to the steps that are necessary for doing business in emerging markets. Knowing what to avoid may be even more important as you expand.
Specialization led to market domination for this manufacturer of videogame accessories. To improve his company's overseas sales, he's reviewing marketing strategies and listening to local managers. Coordinating packing, shipping and back-office functions with its acquirer is also helping the business expand.
Combining the allure and fun of an Australian theme with savvy advertising and PR, plus sports-related sponsorships led Outback Steakhouse to the top slotted brand in the steakhouse business, with over 700 locations globally.
David M. Kelley is a California-based entrepreneur, educator, engineer, and venture capitalist. He was featured by Fortune magazine as one of the "People to Watch" and was selected for the "I.D. 40" list of America's
leading design innovators. In that listing he was described as "the most sought-after design engineer this side of Thomas Edison." He is the founder and CEO of IDEO Product Development, America's largest independent product design and
development firm. In addition to his work at IDEO Product Development, Kelley is a tenured professor at Stanford University in the school's innovative Product Design program. As a faculty member, Professor Kelley is interested in new
product development methodology from inception to production with an emphasis on user-centered design. He encourages broad understanding of product design methodologies, exposing his students to a variety of viewpoints in classroom
discussions and project work. Professor Kelley's primary involvement is in the product design program, a joint program with the art department which emphasizes the blending of innovation, human values, and aesthetic concerns into a single
curriculum. He also teaches in the Human Computer Interface program, which is a joint program with computer science.
At a time when branding is more important than ever for entrepreneurs, Lillian Vernon, the doyenne of direct-mail retailing, talks about branding herself to reach her customers. In the past half century, the strategy has enabled her company to get valuable publicity, as well as more easily extend its product line and weather times of crisis, the author writes.
Learn how a clearly defined brand identity can help build your business, even in the face of fierce competition.
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