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hi jennifer,
about your requirement to share a document with a large number of people, we can create security groups or sharepoint groups to make it:
way 1:
create a new security group via office 365 admin center, then share a document to this group. for example, here is a related screenshot:
about how to create a security group, please refer to this article:
create, edit, or delete a security group
way 2:
create a sharepoint group and share a document to this group as the following screenshot shows:
you can have a look at this article to create a group:
if anything is unclear, please post back and we’ll further help you.
thanks,
kerwin