Some things remain the same despite globalisation, technological revolutions and the depletion of the ozone layer. Taking your business across the Atlantic is a classic example. It’s surprising just how ill-prepared business people can be to take on such a move, and this includes some of the big guys who you would assume should know better.

It’s hard enough starting up a new company in the US, even if you are based here. Competition is probably the fiercest it’s ever been and the US is a target market from every corner of the globe.

But don’t be intimidated, the US is not perfect – not only did GM build the Aztec, but they actually found customers for it! A scatter gun approach will not turn your international expansion dream into a financially successful reality. Each one of those pellets can cost a fortune. Some devil-may-care players also blindfold one eye before they pull the trigger and then wonder why they join the list of failures. Remember "ready, fire, aim"?

The US market is receptive to new players; even apparently crowded sectors have room for new entrants to give it a try. But trying is one thing. To actually succeed, you have to get your act together and that means getting informed and facing up to the complex world of business intelligence.

Ditch that scatter gun and discard that blindfold. Intelligence is vital in today’s business world. It means being highly aware, focused, targeted and knowledgeable about every aspect of the business terrain you are about to enter. Only then can you create a well-informed action plan, launch your initiative and be successful.

Trying is one thing – to suceed you have to get yourself informed and stay informed. Don’t abdicate too much to others. Your campaign will probably take time and the world keeps changing. Thanks to technology a fabulous amount of data is now available and it can swamp the human being. It really is a "data rich, knowledge poor" world.

The wonderful plan from January needs to be kept fresh if you are still using it in July. Critical changes have happened with competitors; a pricing war has broken out and your revenue model needs a refresh; key contacts have moved on and some relationship building needs to start again. You can’t stop change, but you have to stay informed during such a critical period to avoid nasty surprises and unpleasant, avoidable, consequences. Who has time to deal with the facts, the details, or the changing reality? Just do it. None of you will, of course, fall into this category so you can all relax and pity the other guy.

Maybe it’s like those gamblers who brag about their winnings over and over and yet conveniently forget any losses along the way? An ignorance-based venture wastes time and money right from the start. Insidious innocent little expenditures quickly add up, $20 here, $500 there and so on. $25,000 later, the penny drops and a revised action plan is needed. A business venture into the US can be a gamble and the prize can be spectacular. But let’s not douse those wonderful roaring flames of enthusiasm – become the sniper. Plan, prepare, practice and then move forward when the time is right and the plan is ready. Now you will hit the target missed by the one-eyed scatter gun expert.

Do you really know the market? Is it national or regional? Are there a few dominant players or many small ones? What do you know about the movers and shakers in this space? What are the competitors doing with new products or services? Is there any consolidation taking place? Where is the real R&D money being spent? Who are the targeted customers, the names and contact details of the key people? What is going on with others in this supply chain?

And don’t forget the bureaucrats: by the way, who is winning the race for world champion regulation manufacturing – Brussels or Washington? A dead heat?

Details and facts help a lot. How do you get the attention of US prospects for your new IT wonderware? Define your value proposition in very specific categories, map it against your likely prospects and you get a list of 10,000 prospects. Next, refine your mapping and introduce more filters such as geography, annual sales, profitability and get your list down to 500. Now you can dig deeper into this smaller group. What is its IT spend? When did it last update software like your wonderware (last year, then forget it!)? What are its burning business issues that you can address and create a value proposition that will get you in the door?

Test your idea out as much as you can from your home base, get some focus groups organised, do some market studies, talk to people who know the market well and get them to rip your plans apart.

By the time you go to market, you will be ready. When you eventually make contact with prospects you will impress with your knowledge level and the relevance of your proposal, and in the US you will have to impress them quickly!

Many of your competitors may be “local” and you need to know about them so you can enter their space on more even terms. What makes them successful? How might they respond to a new kid on their block? How are they viewed by their customers?

One thing is for sure, US customers will switch their loyalty if the product, service, price or some factor X is perceived to be a better deal.

Some of this has to be approached in steps. Leverage technology after 9/11 woke up the US corporate world to use technology instead of flying, and is now widely accepted as a good business practice. There is some terrific stuff around today, which at modest cost, can help you before you cross the Atlantic and after you get there. For example, there are web–based focus groups, web meetings and presentations, some terrific data mining and analysis tools, managed chat rooms, and can we ever ignore e-mail (oh, for the good old days . . . )? As your intelligence base grows, keep reworking your proposition and refine it. New intelligence may lead you to start up in a different state, partner with somebody you originally perceived as a competitor, resolve some key organisational issues, fix your pricing model, the list goes on.

So, once you arrive and get going, what happens then? You need to pay even more attention to the detail. How is the market really reacting? Just how effective is your advertising? What are competitors going to do in response? And are your early clients totally satisfied?

When you have been successfully doing business in the US for 10 years, you can sit back and relax. Nope. The need for detailed intelligence for making the right business decisions is insatiable. Done properly, it makes you a winner and the guy with the scatter gun is corporate history.

To win the intelligence war, the devil is indeed in the detail.

Contact:
Ray Barratt,
Brivea, USA
Tel: +1 609 452 2828