The US-market is HUGE.
With nearly 300 million consumers, the United States is one of the largest markets in the world. When a company has access to the U.S. market and these 300 million people, it can take advantage of economies of scale.The wealth of the U.S. economy. Although the United States contains only four percent of the world’s population, it accounts for nearly 25 percent of global economic output. The combined effects of being one of the richest countries in the world and one of the largest in terms of
The wealth of the U.S. economy. Although the United States contains only four percent of the world’s population, it accounts for nearly 25 percent of global economic output.
But, it’s also the most competitive market in the world.
We want to advise our clients to do what is best for the business, not just the USA and our engagement. We don’t want to “sell”, no, instead our job is really to try to disqualify prospects to make sure they have the attitude that is required to be successful here.
More often than not we suggest our clients reconsider the US-market.
Here are the reasons why you may want to prioritize other markets, including your home market, over the USA:
- You are pressured to deliver short-term wins. The US-market is a marathon and it will take you a minimum of 18-36 months to show significant traction. If you survive the upside is enormous, however.
- You’ve far from saturated your market share in your home market where customer acquisition cost is a lot lower. We would not advise you to enter the USA until you’ve filled a reasonable position in your home market. Why not: Why not capture the lowest hanging fruit? Furthermore: Cash-flow is critical to funding the US-operation. (please note that the state of your home market may force you to consider the USA…reference to Brazil).
- The product is not able to translate well. Let’s take the example of a local service business which supports needs not required in the USA. Forget about “building a market” in the USA. Success is about fulfilling demand vs. creating demand.
- You want a cushy lifestyle. Imagine you’ve slaved for 15 years to build a reasonable business. You like Florida for its beaches, but you’re not interested in being 24/7 for another 5-7 years. Don’t enter the USA.
The US-market is an opportunity that is typically bigger and more attractive than any other endeavor of yours, however, it’s not for everyone and timing is critical.
To discuss if the US-market is for you please contact us at firstname.lastname@example.org or via +1.844.528.2785.