Tag Archives: doing business in the usa

China is different, but the US is the same…

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For many Europeans English is a second language (except for the Brits, obviously, who might ague that American English is a dialect) and they have been very much exposed to the American culture through music, movies and perhaps travel.

Therefore many European Business people assume doing business in the US is the same as at home. Although both the Unites States of America and Europe are Western cultures they operate along a very different set of values and unwritten rules. Ignore these and one will keep wondering why things did not happen your way. Do not confuse hospitality with closing a deal…

Many Europeans approach the entry onto the US market as a countrywide effort, where in reality it is a ‘continentwide’ endeavor. Doing business in the North East will be very different from closing a deal in the South, California is definitely not Massachusetts or South Carolina.

Consider this: when savvy businessmen want to do business in China they will seek local advice, find translators and hire facilitators or culture coaches, then why would all this suddenly become redundant because one speaks English?

WHAT SUCCESSFUL EUROPEAN COMPANIES DO RIGHT

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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:

  1. Full awareness of the differences between Europe and the US
  2. Launched the project after meticulous preparation
  3. Considered the project as Business Strategic and provided Executive backing
  4. Backed the venture with sufficient funds for success
  5. Defined a great Value Proposition for the market
  6. Brought the right partners on board early

We will discuss these factors individually in our upcoming blogs.