TBKC Live Blog: Global Business- Going Big Overseas
The first Think Big Kansas City panel that I decided to attend was Global Business- Going Big Overseas. Moderated by Bob Smith of Axcelerate Worldwide, this panel discussed all of the issues that global and international businesses face. From developing global partners to learning different customs, this panel covered it all.
One of the most interesting questions brought up during the panel was "What are the biggest challenges faced by global businesses?" (asked by Think Big Partners' co-founder, Tyler Prochnow). Interestingly enough, all three panelists had different answers.
Antonio Souve of Capistrano Global mentioned that the biggest challenged he faced was that of learning the cultural differences in different countries. He believes that before a business goes global, its founders and/or CEOs need to understand where they are going politically, economically and culturally.
Michael Gale of Gramercy Private Equity believes that the biggest challenge is developing global partnerships. He made note that if you are trying to find a global partner, it is important to go hunt them down in their country, not in yours. One of my favorite quotes from the entire panel was from Michael Gale when he stated, "If you're a technology company, you're born global whether you like it or not!"
Finally, Pat Tourney of SCL Americas noted that one of the most difficult parts of going global is maintaining your business's goals and strategies throughout its expansion. He stated that this is a frustrating part of business, but it is also the most important.
I learned a great deal from Global Business- Going Big Overseas. A huge thanks to moderator Bob Smith and the three panelists who made this session a success!
I'll be back with more live blogs from Think Big Kansas City! Coming up next: There's an App for That- The Business of Going Mobile. STAY TUNED and THINK BIG!!