No matter what type of business you own, the thought of expanding it to the United States can be exciting. Bringing your company to a country like the U.S. can give it the opportunity to grow and prosper even more. However, it takes a lot of hard work and dedication. Here are some tips on how successfully expand your business in the United States:
Develop a quick and efficient pitch
The first step you have to take expand your business to the U.S. is develop a good pitch. However, your pitch must be precise and get to the point quick. If you spend more than 30 minutes pitching your business, the people listening may lost interest. It’s a good idea to practice your pitch several times beforehand. If it’s running too long, determine what information you can cut out.
A good strategy for peaking immediate interest during a short interaction would be to develop an ‘elevator pitch’.
Hire the right people
It can be difficult and even impossible to expand to the U.S. without the right people by yourself. If you want to take your business to the U.S., it’s important to hire people who have experience doing business in the United States. If you employ people who have experience with doing business in the area, they will be more aware of the business culture, nuances, industry language, and can help your company succeed there.
Tweak your product accordingly
While you want to stay true to your brand, it may be necessary to tweak your product to meet the cultural norms of the U.S. Whether it’s changing the design or sales approach, making some adjustments can help your business become more successful in the U.S.
Create a business plan
The business plan you created when you started your company might not translate to the U.S. market. You may have to develop an entire new plan before you attempt to expand your business in the U.S. When creating your new business plan, there are many factors to consider, including legal and licensure requirements, anticipated revenues, additional costs, potential customers and sales model.
Expanding your business to the U.S. can be tricky, so don’t be afraid to ask for help. If you find a business mentor who has a passion for your brand and understands the U.S. market, you may have better success breaking your business into the U.S.