6 keys for European companies to be successful on the US Market
Entering the U.S. market is a strategic Business decision that requires preparation, planning and excellent execution to achieve the desired success. It is critical that all the stakeholders in this Business Development venture are in sync and are 100% committed to its outcome.
Over the years having worked with a multitude of Small and Medium Enterprises (SMEs) it is clear that these 6 keys are the same for every foreign investment into the US, but more particular to European based companies who have a tendency to underestimate their importance. COGNEGY has seen the good, the bad and the ugly, but also we have seen many ventures succeed mainly because they included all of the following 6 key contributing factors:
- Full awareness of the differences between Europe and the US
- Launched the project after meticulous preparation
- Considered the project as Business Strategic and provided Executive backing
- Backed the venture with sufficient funds for success
- Defined a great Value Proposition for the market
- Brought the right partners on board early
We will discuss these factors individually in our upcoming blogs.