The US business market is perhaps one of the most diverse and humbling in the world. Countless American startups fail every day trying to claim their piece of the American dream, so how could a foreign startup ever make it? With careful planning, diligent research and precise execution, you can significantly increase your international startup’s odds of success when trying to launch in the US market.
Here are 5 tips to get the ball rolling on your eventual launch in the US.
So, your product/service is successful, you know your market, and you know your audience. Unfortunately, that won’t guarantee success in the US market because international startups fail for two main reasons: failing to understand the market/competitors and the lack of a market strategy on how to sell to American customers.
2. Perfect Timing
Success in an international market can provide a sense of confidence that often results in the idea to launch in the US too soon. Timing is crucial and making sure that you enter the US market at the right time is imperative to increase success.
Knowing the right people can accelerate the success of your startup. In the US, contrary to popular belief, it is much easier to get a meeting with a CEO or Executive than commonly thought. It’s a little bit about what you know and a lot about who you know.
4. Reach Out for Help
Every great entrepreneur or leader had a mentor at some point. Even the greatest of businesses started small, and yours is no different. Seek help and take advantage of the numerous resources available to increase your US launches success.
Overestimating initial sales is one of the main reasons for the failure of startups in the US market. Having a detailed budget that includes slower than planned revenue growth and some unexpected costs is essential for the survival of your US business.
MarketFit is the answer.
By providing strategic services for startups, MarketFit provides the guidance, insight, and solutions on how to expand your startup. To learn more about how MarketFit can help your startup succeed, visit https://www.marketfit.com/about/.