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Easy steps for US IT Companies to set up and start doing business in Europe
The European market presents great opportunities for many US corporations, but it can also be a bit scary. The cost of setting up a subsidiary can be significant and risky, and nobody likes to be associated with failure. The UK is perceived to be less intimidating mainly because of the language issue, and in many ways it is. However, the fact that English is the language can lull US companies into a false sense of security – the market is still very different, and most companies wishing to launch International activity would be well advised to take expert advice. One size definitely does not fit all, and US success will not automatically translate into immediate wins in Europe. Andy Dickens, Managing Director of VSL, has launched many a successful enterprise for US IT clients. Here he gives some advice on first steps to establishing a successful European business. • First of all, do your research. How is your technology used in Europe? Does it have the same awareness and take-up in the US? Often technology can have a ‘head start’ in the US, and the market there is more advanced. This is not necessarily a problem, but you need to be aware of the facts. Also, find out what your US competitors are doing internationally, and what other European-based companies there are doing the same or similar thing. • The next step for IT based companies’ should be the setting up a of a number of focus group meetings in key cities such as London, Birmingham and Edinburgh. These meetings should be no more than 1 ½ hours at each location and around 10 people per venue. An incentive should be given to attract the senior decision maker from the target companies to attend i.e. free lunch, gadget or the offer of use of product/service for a year. • Once the research and focus groups have given positive feedback and that there is indeed a good business opportunity, then the really hard decisions have to be made! So you know that there is money to be made by setting up shop in Europe. • You have a couple of choices to make at this stage. The first is to come over to Europe and decide which country should be your initial focus. The UK makes sense because many of the barriers to entry are not there – language and culture are similar but there may well be other considerations such as where your competition has based themselves and why? Setting up an international operation could be the right decision, but it is a high-risk option and could break the bank. New start-ups are under immense pressure to start getting sales, but with new offices and new staff, the learning curve can be longer than you’d hoped for. • The other alternative, which is much less risky, is to use a specialist partner to help you get started. If you choose a company with a proven track record and the correct experience, they will be able to get you started for a fraction of the price. • The costs of using an outsourcer vs setting up shop in your own right can be a significant saving and this should not be lost on those companies who are in start-up mode. The outsourcer can offer a flexible model of working to fit the available budget. • It is not all about money though! Time is the other key saving. Using an outsourcer means that once you have agreed and signed an agreement, then you can be open for business within days not months! • Using the outsourced route can enable you to get started very quickly by tapping into their local market knowledge. They will help you to make key decisions such as whether to develop a direct or indirect model, or perhaps, in some circumstances, a mixture of both. • Once you have decided your route to market then your outsourcer can help by using its network of contacts to start developing direct sales and/or a channel using distributors and resellers. The direct route again can be done through your outsourcer using telemarketing teams to help build the demand from end users. These leads can be passed to channel partners or back to the company to close. • Another important element to consider is, how do you tell the world that you are now in Europe and open for business? Using PR is a great way to start building awareness and when combined with lead generation and a developing channel then this creates a classic push/pull in the marketplace. • Your web site should be updated and translated if you are going after business, for example in Germany and France. The local outsourcer’s details can be listed on the web site to make it appear that you have a presence locally in Europe – only you and the outsourcer need know that it is a contractual relationship!
This article is by Andy Dickens Virtual Sales Limited
Web http://www.virtual-sales.com
Tel +44 (0)1798-875040
Email sales@virtual-sales.com
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