Now that you are ready for expansion, get practical advice and ask lots of questions before making a risky and expensive investment that may or may not pay back.
Time and time again we see international companies make the same mistakes as they come to the U.S. market. It’s usually one or more among these:
- They jump in with both feet, bringing all products and practices that worked in their own market with them, only to find out that they missed critical market research and learning opportunities.
- Start by hiring a U.S. VP of Sales & Marketing or a country manager who needs time to create a team, further delaying results. Oftentimes, these VPs are so focused on managing vs. execution that the engagement does not end up working out for the VP or the company.
- Hire a team of local sales reps with little oversight or local support, managing them from Asia or outside the target market.
We have seen companies that didn’t properly plan their market entry end up with wasted time and money and a lost opportunity for growth. Too often, competitors with inferior products but good market knowledge increase their U.S. and/or global market share while the major players suffer from poor market entry strategies.