In this solocast, Jim Barnish explores three actions an international company needs to take when entering the US market. 

Some of what Jim gets into: 

• Testing for Product Market Fit: An international company can have an amazing product, but if it doesn't resonate with the US market, then it’s going to almost certainly fail. Understanding the cultural nuances and preferences of the American consumer base is crucial for penetrating the market effectively. 
• Leverage a US-based Growth Consulting Firm: They’ll have a deep cultural understanding, networking advantages, and market research expertise that you’ll need to be successful. Embarking on your US expansion journey shouldn’t be a crapshoot. 

To successfully enter the US market and avoid stumbling blocks, you need to carefully plan and execute a strategic market entry strategy. Be sure to listen to this episode for Jim’s actionable strategies to avoid common mistakes. 

About The Dirt Podcast 

The Dirt is about getting real with businesses about the true state of their companies and going clear down to the dirt in solving their core needs as a business. Dive deep with your host Jim Barnish as we uncover The Dirt with some of the world's leading brands.

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About Our Company

Orchid Black is a new kind of growth services firm. We partner with tech-forward companies to build smarter, better, game-changing businesses. 

Website: https://www.orchid.black 

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Orchid Black’s LinkedIn: https://www.linkedin.com/company/orchidblack/ 

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Jim Barnish 0:00

Hey, everyone, welcome back to another episode of the dirt, the go to podcast that delivers actionable insights so you can maximize your business value. I'm your host, Jim barnish, and we've got a fun topic for you today. So let's dive right in. Today we're gonna cover ways you can avoid pitfalls. That's right, you got to watch your step. When entering the US market, the US has a treasure trove of opportunities, but breaking into it is not a walk in the park. If you're looking to enter the US market, or just want to learn about market entry, you'll want to stick around to find out how to navigate our complex, but rewarding landscape in the US. Whether you're from here or not, trust me, you don't want to miss this. As many of you probably know by now, there is no silver bullet when it comes to entering a new market, much less a complex market, like the US. What you can do, however, is follow my lead and avoid some serious pitfalls. The three actions that you need to take are number one, test for product market fit. Number two, leverage a US based growth consulting firm. And number three, cultural adaptation. Alright, so we're going to talk about testing for Product Market Fit first, because you can have the best product in the world. But if it doesn't resonate with the market, you're essentially throwing darts in the dark, which unless you're Ted lasso, this really isn't an easy task. So before diving headfirst into the US market, you have to test it by testing your product. First, you can save yourself and your company time, money, and many many many headaches that come with launching a product in a market that does not resonate with the end consumer or end user. Time and time again, companies see the US market as a huge revenue opportunity, but lose out because they did not test their product. First, do not fall victim to chasing money and forget to test the product in the US first. This holds true whether you expand into the US or start in the US it's actually true no matter where you focus because people are people and humans have human behavior. But we'll save that for another episode. Let's take Salesforce an example that we'll probably all recognize. They initially identified a product market fit by recognizing that US based businesses initially needed a more affordable and scalable CRM solution. Instead of selling expensive software that required a massive IT team to implement. They offered a subscription based model that allowed salespeople the users an easy way to track their opportunities. Word spread bottoms up in the organization that people were using Salesforce before long companies of all sizes, we're buying Salesforce top down to manage customer relationships more effectively. So why does this matter? And how does this connect to product market fit? Well, the US is unique in its mix of business sizes and types, you've got fortune 500 companies and a vibrant scene of startups and SMBs. And everything in between Salesforce, his model was flexible enough to cater to this diverse market eventually with their products. But to focus on one go to market path initially by testing it salespeople at larger organizations and that's why they've been so successful in scaling their business. So pick one market, one set of users test the hell out of it, Define Your Niche and grow. Next up leverage a US based growth consulting firm. The second piece of this is all about leverage. The US market is complex with its own set of regulations, consumer behaviors, and competitive dynamics and navy navigating this on your own can be like trying to solve a Rubik's Cube while blindfolded. While some companies think that they can jump right into a new market without a hiccup. Good luck. It behooves companies to leverage a US based growth consulting firm or partner. Think of these partners or firms like a veteran player on a team, they are able to pass down insights to the rookie teammates that you oftentimes cannot read in a book or in a market report because they have invaluable experiences and testing that they've done previously. It's hard to put $1 sign and experience but one thing I can assure you is that by leveraging partners that have experienced in US markets, you are equipping yourself with a much wider knowledge base and ability to test locally, so you too can successfully enter the US market and avoid stumbling blocks your partners have experienced in the past my company orchid Black has acted as a growth partner in this exact manner numerous times. One example is two years ago a highly successful retail conglomerate decided to onshore its Asia Pacific or APEC software arm with no experience in the software space this retailer turned to the growth consulting partner in this case us to affirm product market fit and execute a US entry strategy. The software arm was run as a lifestyle business and a much smaller APAC market with few repeatable say Elsweyr product development processes and securing revenue in North America meant building a totally different company essentially, in a lot of ways. It meant building a sales organization that could sell a SaaS product into enterprise retailers. The product also needed significant work to make it enterprise grade built up, it was built on a legacy architecture. The infrastructure couldn't support the number of stores at Target US retail clients. So to get traction in the US market, three key things needed to happen. The product was re engineered from the ground up shifting the product to an API first micro services architecture ensured it could meet demand at an enterprise level while eliminating the threat of future technology debt. The product feedback collection and development product processes also shifted from building the most recent customer requests to prioritizing and selecting features in line with the product and company vision. Also, the story and messaging had to compel the North American market, or could black conducted intensive market research then align the products value with market sentiment, industry experts were also engaged, resulting in a formal product launch and the creation of a new industry category. And finally, it is for all these efforts or key BlackField core competencies on the team quadrupling the size of the team, the software company celebrate its foreign product launch on September 13 of this year, actually. And I since engaged with a wealth of opportunities. So whether it's consulting firm or a strategic partnership of some sort, having a US based Ally can be your north star in navigating the US market. Alright, last up, let's dive into our third and final move of the day cultural adaptation. Now what do we mean by this cultural adaptation is the process of tweaking your business practices and offerings to resonate with the local culture. This is not just about translating your website into English or using the dollar sign. It's about understanding the deep rooted cultural norms and expectations that influences consumer behavior. And at that in the niche that you're trying to target, which is cut ties back to product market fit, right. And this is especially crucial in tech related industries where user experience can make or break your product. One of my favorite analogies is one I'm sure you've heard already. Think of the US culture as the dog and your product is the tail the tail does not wag the dog, the dog wags the tail. So what I'm getting at is that your product needs to support and adapt to the mood of the culture much like a tail does for a dog. Let's look at a business to business or b2b example that will all recognize the name of slack, a business communication platform that many companies maybe yours use today. Slack didn't just offer a functional tool, they understood the importance of workplace culture in the US, where the line between work and life is increasingly blurred. They design their platform to be not just efficient, but also enjoyable to use, incorporating elements like emojis and customizable channels that fit into the American work culture. By understanding the cultural nuances of the US market, Slack was able to position itself as more than just a tool, it became a part of the American work lifestyle. We know the US market is a land of immense opportunities, but it's not a one size fits all game. There are pitfalls everywhere you look so be mindful what actions you should take before jumping into the US market. Alright, so let's go through these three one more time. Number one test for product market fit so you limit your initial capital exposure to a new market. Number two, leverage US based expertise so you can have access to past experiences and knowledge and not suffer the same fate as previous market entrants. And number three, adapt to the cultural landscape so you and your company can embrace the benefits of local culture rather than fall victim to it. Alright folks, that's a wrap for today's episode. If you found value in this discussion, do us a favor do me a favor and share it with a friend who could benefit from these insights and don't forget to hit that subscribe button so you never miss another episode. Until next time, keep digging for that dirt. Cheers JB out. I hope you all enjoyed this episode of the dirt. I want to invite you to listen to our other episodes where every week I am interviewing business leaders who are crushing it in their field and finding out exactly what makes them successful. We will see you next time on the dirt