Start-ups have been advised to heed the lessons of the world’s leading companies following a report that placed Coca-Cola as the leading global brand for the eleventh year in a row.
Brand consultancy Interbrand’s Best Global Brands report put the soft drinks firm as number one, followed by IBM and Microsoft.
Google was placed fourth, with Hewlett Packard entering the top 10 for the first time. Other top brands included McDonald’s, GE, Nokia and Intel.
Damian Borchok, CEO of Interbrand Australia, told StartupSmart that although there are no universal truths shared by these brands, many of them have facets that should be noted by the next generation of business owners.
“They typically have a powerful idea at their heart and a lot of them have come back from the brink to perform extraordinarily,” he says. “A lot of businesses use brand communication to get by, but the best brands link their operations to their brand, so they actually deliver to consumers.”
“A lot of businesses have chaos at their heart but a brand like BMW, for example, is very disciplined and has a single idea that runs through the company.”
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“These companies also have an extraordinary leader at the start, like Ray Kroc at McDonald’s. They set up a culture that defines the business. They often have an extraordinary view of the world that doesn’t fit in with the norms.”
“Henry Ford once said: ‘if I asked what consumers wanted they would’ve said a faster horse.’ It’s a mixture of art and science but consumers bring the past and present with them, they don’t think much about the future. That’s where an entrepreneur is important.”