What's notable is that all three of these companies have shifted their focus to overseas markets in Asia and Europe, and have found greater success there.
I had forgotten about these companies (especially RC Cola) and thought that they didn't exist anymore, but in my recent travels abroad - I've discovered otherwise. They, along with other companies, have found that international markets can be easier to thrive in. The growth can be lightning fast, the customer loyalty can be stronger, and the operational costs can be cheaper.
Entrepreneurs should understand this:
America is very competitive, and the top players often hold the top spots for a lifetime. Consider McDonald's, Wal-Mart, Coca-Cola, Microsoft, Apple, etc. If you can't compete with your competitors, you can always consider the option of finding new turf.
The American market only represents 350 million people on the planet, but more than 6 billion consumers live in other countries. That means that there are plenty of customers to go around. Your competitors may have your industry locked down in the U.S., but often other markets are left wide open for anyone to conquer.
Even Yum Brands (the company that owns KFC, Taco Bell, and Pizza Hut) has managed to outpace McDonald's in Asia, even though McDonald's is the number one fast food chain in the U.S. and Canada. In particular, KFC's expansion in China, Korea, Japan and the Philippines in the past 10 years has been extremely successful and has earned them a lot of industry publicity.
What about you? Can you expand your business to a different country? Why limit yourself unnecessarily? If it sounds too monumental to expand to Asia, Africa or Europe, start with Canada or Mexico - and go from there.
Great commentary. We were just speaking about RC Cola in church this past Sunday. Everyone thought it was out of business. Thanks, for the awakening.
ReplyDeletePeople are sleeping on the fact that even Madam CJ Walker was selling her products to other countries. You're right there's a super under-served population outside of the country with no brand loyalty. So you can take on the juggernauts on a equal basis once you leave the USA!
ReplyDeleteThis is great information. In my business I am finding eager prospects that are looking to break away from their daily struggles. It's amazing to me because here in the US people tend to blow off opportunities because there are so many to choose from. I for one will not sleep on my distant neighbors. If RC, FUBU and Shakey's can get it going than so can I.
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