RetailBX.sg - Five Tips to Tackling the US Market

ONE: Take a hard look at your business capabilities. An essential first step is an honest assessment of your business. Developing export markets takes time: it is not unusual for producers to spend three years of focus, energy and expenses before gaining a first order. So while you are focusing on your export business, you need to ensure your local operations are operating smoothly.
TWO: Research, research. Export homework should be rigorous. Discovering too late that a successful local brand cannot be used in the US can prove disastrous. You need to understand the business culture you are going to operate in.
THREE: Identify your competitive advantage. US markets are highly competitive. Buyers are interested in dealing with businesses and suppliers who understand their needs and can deliver on their promises. US buyers are very willing to try competitive goods and services provided they can see the tangible benefits in switching suppliers. Find out what potential customers really want, and what their current supplier is not providing. Create your own advantage.
FOUR: Select an effective sales channel. Employing a sales person or team in the US carries high overheads. Using a channel partner on the other hand, provides less risk and lower entry costs. Their marketplace experience may outway the higher margins and less control over customer relationships.
FIVE: Review the future. An effective plan is essential for developing a business in the US. The plan should be a living document. It should cover realistic objectives as well as detail on how and when they will be achieved.